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Universal Life Insurance
Administered by Trustmark
Flexible and Permanent Coverage
Universal Life insurance is uniquely designed to match the needs of employees throughout their lifetime and provides permanent coveage to supplement the basic term life insurance. With locked in rates and cash value, this coverage offers more flexibility compared to traditional life insurance. A variety of options are available to accommodate your needs and budget
Universal Life Plan Features
Universal Life Insurance plans have flexible permanent coverage with portable death protection and cash value accumulation. Employees can adjust their death benefit, cash value and premiums as needs change, take policy loans and access living benefits for long term care.
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Coverage is fully portable with no change in rates or benefits.
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Universal LifeEvents pays a higher death benefit during working years and continues higher living benefits during retirement years.
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The Accelerated Death Benefit pays a one-time payment up to 75% of the death benefit when life expectancy is 24 months or less.
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The Long Term Care Benefit provides a monthly benefit equal to 4% of the base policy for up to 25 months for medically necessary ADL assistance provided by a licensed provider or facility. There is a 90 day waiting period for benefits and pre-existing conditions considered before payout.
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Death Benefit Restoration restores the death benefit that is reduced to pay for the LTC.