Chronic Illness Plus and Return of Premium riders now available in California
Chronic Illness Plus Rider1,2,3 Available on Symetra UL-G and CAUL products at an additional cost, this optional rider allows for up to 100% of the policy’s death benefit to be accessed in advance (with a monthly benefit of 2% capped at the IRS per diem times 30) if the insured:
- Is certified by a by a licensed health care practitioner during the prior 12-month period as being permanently unable to perform at least two of the six activities of daily living, or has a severe cognitive impairment requiring substantial supervision to ensure the health and safety of himself or herself and others; and
- Is annually recertified by a licensed health care practitioner to continue receiving benefits.
Return of Premium (ROP) Rider Available on Symetra UL-G for an additional cost, this optional rider is designed to return 100% of the cumulative paid* premiums, reduced by any withdrawals, loans and outstanding loan interest. The ROP benefit will not exceed the face amount of the policy. The ROP Rider provides:
- 90-day windows at years 20 and 25.
- A contractual obligation to notify policyholders prior to their window opening.
- Market-leading pricing with or without the rider.4
*For nicotine users and rated policies, the ROP benefit will not exceed 50% of the face amount of the policy.
