Included in Every Policy
If your client become totally disabled, as defined by the policy, we will pay benefits to assist in the funding of the purchase of his or her ownership interest in the business. We can pay the benefits in a single lump sum or over a period of time.
We waive all premiums due under the policy while disability or recovery benefits are payable.
We will reimburse your client up to $3,000 for reasonable legal and/or accounting fees that he or she paid or owes in order to carry out the terms of the buy/sell agreement.
If we have not paid benefits after the policy has been in force for two years, your client can transfer the coverage to a new owner and receive insurance under a similar policy without medical evidence.
We will not change the premiums for the policy while it is in force. Your client can continue the coverage for as long as he or she pays the premiums on time or until one of the dates specified by the policy.
This rider delays the reduction of policy benefits until age 65 and provides reduced coverage until the policy anniversary after your client reaches age 70.
This rider offers an opportunity to periodically increase the buy-out policy benefits to keep pace with business growth.