Whole Life

  • Member/Individual Ages 18- 80, CGI- Up to $175k, Simplified (additional medical questions)- Up to $300k
  • Spouse/DP Ages 18-80, CGI- Up to $50k or $12/week (whichever is greater)
  • Members up to age 85 can apply for insurance on an eligible Spouse/Domestic Partner or Grand/Great-Grandchild

Children Policy Ages

Maximum Amounts

Ages 14 days-8 years old

Up to $4/week

Ages 9-17 years old

Up to $5/week

Ages 18-23 years old (must be full-time student, 12+ credit hours)

Up to $4/week

Riders

Waiver of Premium

Automatically included on all policies for insureds that are 55 or younger (effective to age 60). Insured must be totally disabled for 6 months. Premiums are required for the first 6 months.  If claim is approved, SML will refund 6 months of premium paid & continue waiving payments until the disability ends.

Terminal Illness

Allows the insured to access up to 75% of their face amount if diagnosed with a terminal illness and has 12 months or less to live. (Less an administration fee not to exceed $250) 

Children’s Term

The insured can add up to 10 dependent children on the rider. Each child is covered for their own $25,000 worth of coverage at a total cost of $3.00/week. May add children ages 0-17.

Conditional Insurance (4-2-1)

Members only (ages 18 through 63), when added, (if eligible) the 4-2-1 automatically acquires additional WL insurance coverage on 1st and 2nd year policy anniversary at an additional $4.00 per week. The member will receive a notification 120 days prior to each effective date with option to opt-out.

Chronic Illness

Added at no charge for existing policies from 2009+. If the insured suffers a chronic illness such as Alzheimer’s or they are unable to perform at least 2 ADLs, they can access up to 25% of their remaining face value once per year as an accelerated living benefit, less administrative expenses until the face amount is reduced to $1000. (FL/GA: one-time draw only at 90%)

Miscellaneous

Benefit Caps

  • 6.5% Interest Rate on SML loans
  • 12 months from activating the policy, a previous smoker can change their smoking status
  • Cash Value – 3.75%
  • Retired due to Disability: $50,000
  • Parents: $50,000
  • Ages 76-80: $25,000




 

 

 

 

Underwriting Questions

Policyholder can answer underwriting questions for:

Self, spouse, domestic partner, and/or child

Parent (of Policyholder):

Must always answer their own underwriting questions and complete a voice signature

Voice Signature Required

State

Member

Spouse

Domestic Partner

Dependent Children

Grand/Great-Grandchildren

Parents

Simplified/ Life-Med

AL

Yes

-

Yes

Yes, Ages 19-23

Yes, Ages 19-23

Yes

Spouse & DP

AZ

Yes

-

Yes

Yes, Ages 18-23

Yes, Ages 18-23

Yes

Spouse & DP

CA

Yes

Up to $50K

Yes 

Yes, Ages 16-23

Yes, Ages 16-23

Yes

Spouse & DP

CT

Yes

-

-

-

-

Yes

Spouse & DP

DE

Yes

-

Yes

-

-

Yes

Spouse & DP

DC

Yes

-

Yes

-

-

Yes

Spouse & DP

FL

Yes

Yes

Yes

Yes, Ages 15-23

Yes, Ages 15-23

Yes

Spouse & DP

GA

Yes

Yes

Yes

Yes, Ages 18-23

Yes, Ages 18-23

Yes

Spouse & DP

IL

Yes

-

Yes

-

-

Yes

Spouse & DP

LA

Yes

-

Yes

Yes, Ages 18-23

Yes, Ages 18-23

Yes

Spouse & DP

MA

Yes

Yes

Yes

Yes, Ages 15-23

Yes, Ages 15-23

Yes

Spouse & DP

MD

Yes

-

Yes

Yes, Ages 18-23

Yes, Ages 18-23

Yes

Spouse & DP

MI

Yes

Yes

Yes

Yes, Ages 18-23

Yes, Ages 18-23

Yes

Spouse & DP

MO

Yes

Yes

Yes

Yes, Ages 18-23

Yes, Ages 18-23

Yes

Spouse & DP

NC

Yes

-

Yes

-

-

Yes

Spouse & DP

NJ

Yes

-

Yes

-

-

Yes

Spouse & DP

NY

Yes

-

Yes

Yes, Ages 14 ½ -23

Yes, Ages 14 ½ -23

Yes

Spouse & DP

OH

Yes

-

Yes

-

-

Yes

Spouse & DP

PA

Yes

Yes

Yes

Yes, Ages 18-23

Yes, Ages 18-23

Yes

Spouse & DP

SC

Yes

-

Yes

-

-

Yes

Spouse & DP

TN

Yes

-

Yes

-

-

Yes

Spouse & DP

TX

Yes

-

Yes

-

-

Yes

Spouse & DP

VA

Yes

-

Yes

Yes, Ages 18-23

Yes, Ages 18-23

Yes

Spouse & DP

WA

Yes

-

Yes

Yes, Ages 15-23

Yes, Ages 15-23

Yes

Spouse & DP