Pekin Life Contracting & Appointment 2019

Pekin is communicative, innovative, adaptable, reliable, efficient and respected; and takes pride in the experience, competency, and fairness of its underwriting staff.

The underwriting staff averages over 20 years of experience coupled with the combined sales experience of 100+ years; Pekin has a reputation of being accessible and willing to go beyond the expected

These are Pekin's current policies and state availability for 2019.

Medicare Supplement

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Select from Plan A, F, G or N. Plans are available pre-65 due to disability in some states. 

Premiums are guaranteed not to increase during the 12 months following the issue date of the policy, except for an increase due to a change of address. Premium changes caused by moving into a new rating location will go into effect on the premium due date following receipt of the change of address notification.

Has never had a rate increase of more than 6%.

Term Life

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Term to Age 95 ~ Renewable and Convertible: issue ages (Age last birthday): 18 through 70, for 10-Year; 18 through 65, for 15-Year; 18 through 60, for 20-Year; 18 through 50, for 30-Year; and 18 through 55, for To Age 65 Term. Minimum amounts: $50,000, $100,000 for Super Preferred rate class, and $500,000 for Ultra Preferred rate class. Five rate classes.

Premiums are guaranteed level for the term period selected. After the initial period, premiums increase annually to age 95. Term plans are guaranteed convertible at any time prior to the policy anniversary date following the insured’s 75th birthday, without proof of good health. A conversion credit equal to 100% of the previous year’s base premium paid (not including riders) is available prior to age 60 as an incentive to convert.

Optional Benefits: Accelerated Death Benefit Rider (no-cost rider), Accidental Death Benefit Rider, Children’s Term Rider, and Waiver of Premium Rider.

Transitional Life: issue ages (Age last birthday): 18 through 70, for 10-Pay; 18 through 65, for 15-Pay; 18 through 60, for 20-Pay; 18 through 50, for 30-Pay; and 18 through 55, for To Age 65. Minimum Total Face Amount: $60,000, $100,000 for Super Preferred rate class, and $500,000 for Ultra Preferred rate class. Minimum Paid-Up Face Amount: $10,000 (Must be a difference of at least $50,000 between the Total Face Amount and the Paid-Up Face Amount). Five rate classes.

Policy is designed to provide a high, level term death benefit for the selected period, ending with a lower paid-up permanent whole life death benefit of an amount chosen at time of issue. All policy values are fully guaranteed.

Premiums are guaranteed level for the period selected. After the initial period, policy is considered paid-up for the residual death benefit.

Conversion guarantee means the term portion of the initial coverage amount can be changed to full permanent coverage at any time prior to the end of the level term period or the policy anniversary date next following insured’s 75th birthday, whichever comes first, without proof of good health. A conversion credit equal to 100% of the previous year’s base term premium paid (not including riders) is available prior to age 60 as an incentive to convert.

Optional Benefits: Accelerated Death Benefit Rider (no-cost rider), Long Term Care Rider, Accidental Death Benefit Rider, Children’s Term Rider, and Waiver of Premium Rider. 

Whole Life

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Preferred Whole Life: issue ages (Age last birthday): 18 through 85, for Single Pay, 10-, 15-, 20-Pay, and Lifetime Pay; 18 through 75, for 30-Pay Life; and 18 through 55, for Life Paid Up at 65. Minimum issue amounts: $25,000 (18 and up); $100,000 (18 and up) for Super Preferred rate class; and $500,000 (18 and up) for Ultra Preferred rate class. Five rate classes.

Optional Benefits: Accelerated Death Benefit Rider (no-cost rider), Accidental Death Benefit Rider*, Long Term Care Rider, Children’s Term Rider*, Guaranteed Insurability Rider, and Waiver of Premium Rider*. *Not available on Single Premium contract.

Long Term Care Rider can be added to any Preferred Whole Life policy where the insured has an issue age: 18 through 75; for Life Paid Up at 65, the maximum issue age: 55. Minimum benefit amount: $50,000.

Single Premium Preferred Whole Life with Long Term Care Rider: available through age 85. Minimum issue amount with LTC Rider: $50,000, no maximum issue amount. Maximum LTC Benefit:  $350,000 or 100% of policy issue amount, whichever is less. LTC payout percentage is 2%, 3%, 4%, or 5% of the benefit amount per month. Covers all types of long-term care, including: confined care, adult day care, home health care, hospice care, and Alzheimer’s care. One-time premium payment guarantees a benefit will be paid ~ either as life insurance, as long-term care, or some combination of the two.

Juvenile Whole Life: issue ages: 0 through 17 (Age last birthday), for all plans. Minimum issue amount: $2,000; Policy can be written on a Single Pay, 10-, 15-, 20-, 30-Pay, Life Paid Up at 65, and a Lifetime Pay basis.

Simplified Issue Whole Life: issue ages (Age last birthday): 18 through 85, for Single Pay, 10-, 15-, 20-Pay, and Lifetime Pay; 18 through 75, for 30-Pay Life; and 18 through 55, for Life Paid Up at 65. Minimum issue amount: $2,000, maximum: $24,999.

Policy is designed for the client who may have had a minor health setback or is slightly overweight, or who prefers to bypass a medical exam; provides guaranteed protection for life at guaranteed standard rates. Rate classes: Smoker and Nonsmoker. Individuals who exclusively smoke cigars and/or pipes or use smokeless tobacco qualify for the Nonsmoker rate.  

Graded Benefit: issue ages: 5 through 80 (Age last birthday) on a Lifetime Pay basis. Minimum issue amount: $2,000, maximum: $15,000.

Policy is designed for situations where clients do not qualify medically for the Preferred Whole Life or Simplified Issue Whole Life plan.

Death Benefit Payable: Insured must live at least two years after policy issue for the full death benefit to be paid for death due to natural causes. For death due to natural causes during the first year, the death benefit will equal a refund of all premiums paid. During the second policy year, the death benefit will equal one-half the ultimate face amount. The full death benefit amount will be paid for death due to an accident during the first two policy years, or for death due to natural causes after the policy has been in force for two years

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Pekin Life Appointment & Contracting