A general rule of thumb suggests buying life insurance equal to six to eight times your yearly earnings. But a better way to make the decision is to look at your current financial situation and how to preserve that for your family:

 

 

For a quick estimate of your life insurance needs, try our Basic Life Estimator tool. Or, for a more in-depth estimate, you can use our Detailed Life Estimator. Our member sales team can also help you determine how much life insurance protection is right for you and your family by simply calling (866) 845-6665.

 

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Royal Neighbors offers a rider called Premium Waiver Disability that provides payments for your insurance premiums for as long as you are disabled. Payments begin after you have been disabled for six months, as defined by the rider. Premium Waiver Disability is available for an additional cost on selected traditional and term life certificates, and some rules do apply. For the universal life plan, the rider is called Waiver of Monthly Deduction. If you become disabled, again as defined in the rider, the monthly deductions from your cash value to pay for the cost of the insurance are waived. Talk to our member sales team at (866) 845-6665 for more information.

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My certificate has lapsed. Can it be reinstated?
You have five years from the suspension date to reinstate a lapsed certificate. Contact the Premium Accounting Department to request reinstatement information at (800) 627-4762, ext. 4110, or by e-mail.

 

I pay for a certificate, but I am not the owner or the insured. Can I obtain information other than payment information regarding the certificate?
No. Due to privacy laws, certificate information can be given only to the owner of the certificate.

 

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How can I increase the amount of my coverage?
Universal life certificates: Call our member sales team at (866) 845-6665 or by e-mail.

 

Traditional life certificates: You may apply for new insurance by contacting our member sales team at (866) 845-6665 or by e-mail. You may be able to increase the amount of coverage provided by your current certificate by applying dividends to purchase paid-up additional insurance. To elect the paid-up additional insurance option, please print out and complete the Election that Dividends Be Applied to Purchase Paid-Up Additional Insurance form (Form 1472). Mail the completed form to:

 

Member Services
Royal Neighbors of America
230 Sixteenth St.
Rock Island, IL 61201-8645

 

For more information, please call the Member Services Department at (800) 627-4762, ext. 4150 or by e-mail.

 

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Is there any way I can make my traditional life certificate "paid-up" so that I do not have to make any more premium payments?
Depending upon the plan of insurance, the cash value of the certificate could be used to provide reduced paid-up insurance. This paid-up insurance would provide a lesser amount of permanent life insurance protection without further payment of premiums and it would continue to be eligible for dividends. In lieu of reduced paid-up insurance, it may also be possible to change the certificate to fully paid-up by using the dividends accumulating with interest or the paid-up additional insurance purchased with dividends. For more information about either of these two options, please call the Member Services Department at (800) 627-4762, ext. 4150, or by e-mail.

 

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Does my dividend have to be paid in check form?
No, we offer several other dividend options, depending on your plan of insurance. The most common option requested is to apply the dividend to purchase paid-up additional insurance, which increases the death benefit. If you would like more information on changing your dividend option, please call the Member Services Department at (800) 627-4762, ext. 4150, or by e-mail.

 

To elect the paid-up additional insurance or any other dividend option, please print out and complete the Election that Dividends Be Applied to Purchase Paid-Up Additional Insurance form (Form 1472).

 

Mail the completed form to:

Member Services Department
Royal Neighbors of America
230 Sixteenth St.
Rock Island, IL 61201-8645

 

For more information, please call the Member Services Department at (800) 627-4762, ext. 4150, or by e-mail.