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Product Summary | NGL's
fixed- rate product, when combined with a Funeral Trust option, offers an increasing death benefit and provides a secure financial protection option for final expense planning. |
Single Pay | Multi Pay | |
---|---|---|
Payment Periods | Single
Payment |
3, 5,
7 and 10 Years |
Growth Rates | .25%(A) .75%(B) 1.00%(C) 1.25%(D) 1.50%(E) 1.75%(F) 2.0%(G) 2.25%(H) Increases daily with simple growth |
Three, Five, Seven & Ten Year Pay: 1.75% Daily simple growth. |
Health Questions | One
Health Question Standard Issue (Question = "No") Guaranteed Issue (Question = "Yes") |
One
Health Question Standard Issue (Question = "No") Guaranteed Issue (Question = "Yes") |
Issue Ages | 0-99
Single Pay |
Three Year Pay: 0-90 Five Year Pay: 0-85 Seven Year Pay & Ten Year Pay: 0-80 |
Death Benefit | All
Single Pay plans have an immediate full death benefit. |
Standard Issue: All standard issue plans have an immediate full death benefit. Guaranteed Issue: Three, Five, Seven & Ten Pay: Year 1 = Return of Premium (ROP) + 3% Year 2 = 70% Year 3 = 100% |
Minimum Face Amount | $500 |
Three, Five, Seven & Ten Year Pay: $2,500 |
Maximum Face Amount | $100,000 Note: $15,000 maximum for the NGL Funeral Expense Trust. $100,000 maximum for the NGL Estate Planning Trust. |
Three, Five, Seven & Ten Year Pay: $35,000 Note: $15,000 maximum for the NGL Funeral Expense Trust. $35,000 maximum for the NGL Estate Planning Trust. |
AL AK AZ AR CA CO CT DE DC FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY
Minimum | $500 |
Maximum | $100,000 |
Medicaid Protection* | Five year look-back |
Assignment Forms | Estate Planning Trust (2591-EPT) |
Excess Funds | 2nd Beneficiary Allowed |
*NGL Estate Planning Trust not available in MA
Minimum | $500 |
Maximum | $15,000 |
Medicaid Protection* | Effective Date of Transfer |
Assignment Forms | Funeral Expense Trust (2591-FET) |
Excess Funds | Estate of the Insured |
*NGL Funeral Expense Trust not available in FL, MA, MI NV or TX
Let your client know that this is an irrevocable assignment that results in the permanent transfer of ownership of policy rights. The client is not able to surrender, take a loan or receive a premium refund. The client cannot change ownership, beneficiary, or face amount of plan
* Medicaid limits the face amount of policies, assigned to the NGL Funeral Expense Trust, which they will consider excluded assets in the following states:
AZ - $8,000; CT - $8,000; DE - $15,000; GA - $10,000; IA - $11,566; IL - $6,171 (non-guaranteed or guaranteed services only); IN - $10,000; KS - $7,000; LA - $10,000; MO - $9,999; NE - $4,978; ND - $6,000 (premium); OK - $10,000; PA - Limit varies (based on where the applicant resides); SD - $10,000; TN - $6,000; UT - $7,000; VT - $10,000