1. If owner/insured are different, benefits will be paid to the owner upon the insured being certified as a chronically ill individual.
2. Chronically Ill Individual:
All states except NY: Insured has been certified by a licensed health care practitioner within the preceding 12-month period as: (1) being unable to perform, without substantial assistance, at least two Activities of Daily Living due to loss of functional capacity (activities that include eating, bathing, toileting, continence, dressing and transferring) for period of at least 90 days or (2) requiring substantial supervision to protect the insured from threats to health and safety due to severe cognitive impairment. (Confinement due to medical condition is required to be permanent in CT.)
New York: Insured has been certified by a licensed health care practitioner as: (1) being unable to perform, without substantial assistance from another person, at least two Activities of Daily Living due to a loss of functional capacity for at least 90 days; or (2) requiring substantial supervision to protect the person from threats to health and safety due to a severe cognitive impairment.
Please keep in mind that the primary reason to purchase a life insurance product is the death benefit.
Additional agreements may be available. Agreements may be subject to additional costs and restrictions. Agreements may not be available in all states or may exist under a different name in various states and may not be available in combination with other agreements.
Some products and features may not be available in all states and features may vary by state. Not all products, features and agreements are available from all firms. Please consult with your firm before providing any products/services or materials listed here.
Guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company.
Insurance products issued by Minnesota Life Insurance Company/Securian Life Insurance Company
The information presented above is solely intended for use by financial professionals. Such information is not intended for public consumption or dissemination.