Youth Essential Life

Did you know the cost to buy life insurance increases with age? Buying whole life insurance for your child now provides a locked-in, cost-effective benefit she or he can maintain throughout life.

 

Youth Essential Life* offers long-term benefits:

  • Affordable and guaranteed premium payments that won’t change throughout the life of the certificate
  • Your child continues to be insured regardless of changes in her or his health condition
  • Cash value that can be borrowed against as it builds, for needs like college tuition, down payment on a home, or emergency expenses1
  • Income tax-free death benefits2

 

Select from two options for those under 18 years of age:

  • 20-Pay Life means level premium payments for 20 years and not needing to worry about paying a premium again
  • Level Pay to Age 121 means level premium payments will be made through age 121

         

      Rider options that best suit your needs are available for each product. Additional premiums may apply depending on the riders you choose.  

       

      Accelerated Living Benefit (Ages 0-17) 3

      If your child becomes permanently confined to a nursing home or diagnosed with a terminal condition, a portion of the death benefit can be accessed and could be used to help fund her/his care or other needs. Additional fees and interest may apply. (Form Series 1766)

       

      Accidental Death Benefit (Ages 16-17)

      If your child dies in an accident, this rider provides an additional benefit up to 10 times the face amount, not to exceed $300,000. (Form Series 2082)

       

      Disability Waiver of Premium (Ages 16-17) 4

      This rider waives premiums in the event your child (the insured) becomes totally disabled. Waiver is subject to a waiting period. (Form Series 2081)

       

      Guaranteed Insurability (Ages 16-17)

      During select option years or events, additional insurance coverage up to the lesser of the certificate face amount or $25,000 can be provided without evidence of insurability. Maximum lifetime additional face amount is $100,000. (Form Series 2083)

       

      Plus, as a member of Royal Neighbors of America, your child is eligible to apply for additional member benefits at no additional cost.5 

       

       

       

       

       

      Certificates and riders are not available in all states.
      Contractual provisions and limitations may vary by state.
      Subject to reinsurance and underwriting requirements.

      * Youth Essential Life - Form Series 200811

       

      1Like any loan, interest will be charged. An outstanding loan will reduce the death benefit and cash value until repaid. Additionally, an outstanding loan could potentially terminate the certificate if the principal plus accrued interest equals or exceeds the cash value of the certificate. Tax penalties may apply.

       

      2This is not intended to provide tax or legal advice. You should consult a professional tax advisor about taxes related to your particular situation.

       

      3Receipt of acceleration of life insurance death benefits may be taxable and may affect your child, your child's spouse, or family’s eligibility for public assistance programs. Consult your tax professional or social services agency for details. Eligibility requirements apply.

       

      4Subject to reinsurance and underwriting requirements: $3,000,000 limit for a Disability Waiver of Premium Rider.

      5Member benefits are provided at the discretion of Royal Neighbors of America. They are not part of any insurance or annuity contract and are not guaranteed.