Pekin Insurance

Pekin Insurance provides six life insurance products:

• Transitional Life
• Preferred Whole Life
• Long Term Care Rider
• Term to Age 95 (Renewable and Convertible)
• Juvenile Whole Life
• Simplified Issue Whole Life

Transitional Life

Transitional Life provides 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 by the insured at the time of issue. All policy values are fully guaranteed.

• Issue Age: 10-Pay – age 18 through 70, age last birthday , 15-Pay – age 18 through 65, age last birthday, 20-Pay – age 18 through 60, age last birthday, 30-Pay – age 18 through 50, age last birthday, To Age 65 – age 18 through 55, age last birthday
• Rate Classes: Smoker, Preferred Tobacco, Preferred, Super Preferred, and Ultra Preferred
• Minimum Total Face Amount: $60,000, $100,000 for Super Preferred rate class, or $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)
• Rate Bands: Premiums are banded at $60,000; $100,000; $250,000; and $500,000. Banding based on total face amount.
• Premium Gurantee: Premiums are guaranteed level for the period selected. After the initial period, policy is considered paid- up for the residual death benefit.
• Conversion Guarantee: 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.
• Conversion Credit: 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.
• Chargebacks: Recapture of unearned premium with no additional chargeback due to any reason in the first 12 months of issue.

Available optional benefits include: Accelerated Death Benefit Rider, Long Term Care Rider, Accidental Death Benefit, Children's Term Rider, Waiver of Premium Rider

Preferred Whole Life

• Minimum Issue Amount: $2,000 - ages 0-17 (see Juvenile Whole Life for product details), $25,000 - ages 18 and up, $100,000 - ages 18 and up, for Super Preferred rate class, $500,000 - ages 18 and up, for Ultra Preferred rate class
• Plans Available: Policy available on a Single Pay, 10-Pay, 15-Pay, 20-Pay, 30-Pay, Paid Up at 65, and a Lifetime Pay basis.
• Issue Ages: 18 through 85, age last birthday, for Single Pay, 10-Pay, 15-Pay, 20-Pay, and Lifetime Pay plans, 18 through 75, age last birthday, for 30-Pay Life, 18 through 55, age last birthday, for Life Paid Up at 65
• Rate Classes: Smoker, Preferred Tobacco, Preferred, Super Preferred, and Ultra Preferred
• Premiums: All premiums are guaranteed and will never increase with age.
• Chargebacks: Recapture of unearned premium with no additional chargeback due to any reason in the first 12 months of issue.
• Coverage Extends To: Age 121
• Underwriting: This policy is fully underwritten in order to provide the best rate possible. See specific underwriting guidelines elsewhere in this booklet.
• Guaranteed Cash Values: Cash values are guaranteed and continue to grow throughout the contract period.
• Non-Cancellable: The policy can never be cancelled by the company except for nonpayment of premiums.
• Policy Loans: Loan interest rate is 7.4% in advance. The interest crediting rate on policy values backing policy loans will be at least 3.0%.

Available optional benefits include: Accelerated Death Benefit Rider, Accidental Death Benefit (not available on Single Premium contract), Long Term Care Rider, Children's Term Rider, Guaranteed Insurability Rider, Waiver of Premium Rider.

Long Term Care Rider

Pekin Life Insurance Company's Long-Term Care Rider is designed to help clients concerned with protecting themselves and their families from the high costs of long-term care. When combined with our Preferred Whole Life or Transitional Life insurance policy, the optional Long Term Care Rider allows policy owners to accelerate the death benefit to help pay for long-term care expenses, should that need ever arise. Any portion of the death benefit not used to cover these expenses remains in the policy and is later paid as a life insurance benefit.

Our Long Term Care Rider provides:

• Convenience: One underwriting process, one life insurance policy, one affordable premium.
• Flexibility: All, some, or none of the life insurance benefit can be used for long-term care needs.
• Value: Less expensive than purchasing separate permanent life and long-term care insurance.

With the Rider, once any qualifying long-term care expenses are incurred, we will reimburse the out-of- pocket costs up to the policy limits. The insured designates the portion of the death benefit to be available to pay for long-term care expenses, including nursing home, assisted living, adult day care, or home health care costs. Reimbursement will be 5% of the death benefit per month, as chosen by the insured at issue. (The monthly benefit reimbursement for Adult Day Care will be one-half the benefit for other forms of Long-term Care.) The maximum benefit under the Long-term Care Rider will be the lesser of $500,000 or the face amount of the policy to which the rider is attached. The total amount of Long- Term Care coverage on an individual may not exceed $500,000 of total inforce coverage with Pekin Life Insurance Company. The monthly benefit will not exceed the actual charge for the care provided. Once the LTC Benefit minus $10,000 has been exhausted, a Paid Up Life Benefit with the remaining $10,000 will be added to the original Policy.

The rider can be added to any Preferred Whole Life or Transitional Life contract where an insured has an issue age of 18 through age 85, in most situations. For Preferred Whole Life 30-Pay, the maximum issue age for the Rider is age 75. For Life Paid up at Age 65, the maximum issue age is 55. The minimum benefit amount available is $10,000.

The Insured is eligible for benefits if:

• The rider is in force and the maximum rider benefit has not been exhausted.
• The Insured has satisfied the appropriate waiting period of (60) continuous days of care.
• A licensed health care practitioner acceptable to us certifies during the preceding 12-month period that the insured is a chronically-ill individual.
• The insured must be unable to perform at least two Activities of Daily Living for a period of at least 90 days due to a loss of functional capacity.
• Services are provided pursuant to a plan of care prescribed by a licensed health care practitioner.
• The care is provided in a long-term care facility, in an adult day care center, in a hospice, in an assisted living facility, or at home by a health care agency.

Term to Age 95 (Renewable and Convertible)

• Issue Age: 10-Year term – age 18 through 70, age last birthday 15-Year term – age 18 through 65, age last birthday 20-Year term – age 18 through 60, age last birthday 30-Year term – age 18 through 50, age last birthday To Age 65 term – age 18 through 55, age last birthday
• Rate Classes: Smoker, Preferred Tobacco, Preferred, Super Preferred, and Ultra Preferred
• Minimum Amount: $50,000, $100,000 for Super Preferred rate class, $500,000 for Ultra Preferred rate class
• Rate Bands: Premiums are banded at $100,000; $250,000; and $500,000 for all classes except Ultra Preferred
• Premium Guarantee: Premiums are guaranteed level for the term period selected. After the initial period, premiums increase annually to age 95.
• Renewable Guarantee: Guaranteed renewable to age 95.
• Conversion Guarantee: Guaranteed convertible at any time prior to the policy anniversary date following the insured’s 75th birthday, without proof of good health.
• Conversion Credit: 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.
• Chargebacks: Recapture of unearned premium with no additional chargeback due to any reason in the first 12 months of issue.

Available optional benefits include: Accelerated Death Benefit Rider, Accidental Death Benefit, Children’s Term Rider, Waiver of Premium Rider

Juvenile Whole Life

• Minimum Issue Amount: $2,000
• Plans Available: Policy can be written on a Single Pay, 10-Pay, 15-Pay, 20-Pay, 30-Pay, Life Paid Up at 65, and a Lifetime Pay basis.
• Issue Ages: 0 through 17, age last birthday, for all plans
• Rate Classes: None
• Premiums: All premiums are guaranteed and will never increase with age.
• Chargebacks: Recapture of unearned premium with no additional chargeback due to any reason in the first 12 months of issue.
• Coverage Extends To: Age 121
• Underwriting: This policy is fully underwritten in order to provide the best rate possible. See specific underwriting guidelines elsewhere in this booklet.
• Guaranteed Cash Values: Cash values are guaranteed and continue to grow throughout the contract period.
• Non-Cancellable: The policy can never be cancelled by the company except for nonpayment of premiums.

Available optional benefits include: Accelerated Death Benefit Rider, Guaranteed Insurability Rider, Accidental Death Benefit

Simplified Issue Whole Life

Designed for the client who may have had a minor health setback or is slightly overweight, or who prefers to bypass a medical exam. Policy provides guaranteed protection for life at guaranteed standard rates.

• Minimum Issue Amount: $2,000
• Maximum Issue Amount: $24,999
• Plans Available: Policy can be written on a Single Pay, 10-Pay, 15-Pay, 20-Pay, 30-Pay, Life Paid Up at 65, and a Lifetime Pay basis.
• Issue Ages: 18 through 85, age last birthday, for Single Pay, 10-Pay, 15-Pay, 20-Pay, and Lifetime Pay plans, 18 through 75, age last birthday, for 30-Pay Life, 18 through 55, age last birthday, for Life Paid Up at 65
• Rate Classes: Smoker and Nonsmoker
• Premiums: All premiums are guaranteed and will never increase with age.
• Policy Fee: A $30.00 annual policy fee will be added to all premiums.
• Coverage Extends To: Age 121
• Underwriting: All policies underwritten on a simplified issue basis using a single-page application having just a few health questions. No Medical exam, blood draw, urine specimen, or oral fluid swab is required at the time of application. As part of our underwriting for this contract, we will run a Motor Vehicle Report, a Medical Information Bureau check, and a Prescription Check.
• Guaranteed Cash Values: Cash values are guaranteed and continue to grow throughout the contract period.
• Non-Cancellable: The policy can never be cancelled by the company except for nonpayment of premiums.
• Optional Riders: None

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