Coverage is provided through the insured s 95th birthday. The Heritage Competitor III is a fully underwritten product. Thereafter, any amount of premium may be paid at any time subject to certain IRS limitations. 95 Life Paid Up at 95 is a permanent plan of insurance that provides level death benefits to age 100. If the policy is still in force when the insured reaches age 95 the death benefit will be paid to the insured.
Premiums remain level for the term of the insurance.
An Annuity Side Fund is established for premium amounts of more than the actual premium. This plan provides level term insurance coverage for specified term periods from 5 through 20 years. The policy expires without value on the Expiry Date. The Expiry Date occurs at the end of the term period. Level premiums are paid during the lifetime of the insured to the Expiry Date.