Agents, National Life Group has recently announced rider additions to in-force life insurance policies to serve your clients. Specifically, NLG has now made available Alzheimer’s Disease Accelerated Benefit Riders (ABR) and Fertility Journey Riders.
Why do my clients need life insurance riders?
Perhaps you are a brand-new agent and exploring the life insurance options available for your potential clients. An active or in-force life insurance policy pays out a death benefit to a beneficiary when the insured policyholder passes away. If policyholders become disabled or lose their jobs, they most likely cannot continue paying your premium and will lose their life insurance coverage. So, what is a life insurance rider?
A life insurance rider allows a policyholder to add coverage or additional benefits. Clients can customize their policy to increase coverage or initiate benefits when certain conditions arise. Some of the most common life insurance riders cover individuals who develop a chronic or terminal illness. For instance, an accelerated death benefit rider or terminal illness rider supplements coverage that pays out a share of a life insurance policy’s death benefit if the insured develops a covered terminal illness.
National Life Group’s Alzheimer’s Disease Accelerated Benefit Rider (ABR) can be added to in-force life insurance policies at no added cost. “The rider will benefit clients when they are diagnosed with Alzheimer’s disease or Lewy Body Dementia.” This ABR may require additional underwriting and is not available in California or New York. The maximum issue age is 60.
What is a fertility journey rider?
Couples struggling to have children might have to pursue alternative means to conceive descendants. National Life Group provides a financial solution to the grand costs of seeking this form of treatment. NLG describes their fertility journey riders as follows: “Provides couples with extra support through a one-time, lump-sum Accumulation Value Credit. Automatically attached to all new eligible FlexLife policies, depending on state approval.” According to NLG, the average cost of one in vitro fertilization (IVF) cycle costs more than $12,000. Most people cannot afford to make a check for such a large amount. This fertility journey rider could positively change the lives of couples who find themselves along this path.
Please read NLG’s blog post for a step-by-step look at how to add these new riders with their iGo eApp.
Whether you are a new or seasoned agent, rider additions certainly can assist you in reaching out to potential customers, including those who already have an in-force National Life Group policy. You may also mention these riders to existing clients for another cross-selling opportunity.
If you found this article helpful, please read another insightful article about loving your family with life insurance.
Agents
We hope that this information on National Life Group’s new riders is useful to you.
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