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All Trendsetter® LB (Living Benefit) Term Life Insurance applications signed AFTER 5/5/2017 will be underwritten with the new living benefit underwriting rules.
Transition rules related to the receipt of the application relative to the product and rates still apply.
Trendsetter LB benefits are inherent to the product, therefore if we identify a condition or consideration that would warrant the removal of either the Chronic or Critical illness rider we will pivot to Trendsetter Super and offer that to the customer. In this scenario, the policy will be issued with an amendment for the change in plan.
Conditions or consideration for Living Benefits are as follows:
Any case rated over table 4 rates
Any case with a flat extra over $2.50 per thousand
Underwriter’s evaluation of medical history, which includes combinations of medical conditions may conclude a decline of the living benefits; some examples of conditions that are not eligible for living benefits coverage would be Parkinson’s, Multiple Sclerosis, some cancers, cancers treated with radiation and/or chemo therapy
For more information about the underwriting changes for the Trendsetter Series please contact your KAFL Broker Manager.
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