Royal Neighbors Offers Innovative Promise Plus Rider on New Term Life Insurance Product
(Mesa, AZ) — Term life insurance agents can do more than wear cancer-ribbon apparel and accessories to show their support for cancer awareness. Agents who are contracted with Royal Neighbors of America can offer their clients something they won’t find anywhere else, Promise Plus, a Cancer Waiver Rider.*
Promise Plus is designed to help in the event of a diagnosis of cervical, ovarian, or breast cancer at Stage II or higher. With this rider, if the insured is diagnosed with breast, cervical, or ovarian cancer, the insured’s premiums can be waived for two years. The rider is now available on JETerm, a new Term product offered by Royal Neighbors.** Promise Plus is also offered on Royal Neighbors’ Whole Life and Universal Life Insurance.
JETerm was designed to address the concerns of potential life insurance consumers who are time-starved, want immediate answers about whether or not their application is approved, and like the option of the Promise Plus rider.
According to Royal Neighbors, JETerm is anticipated to take off. The application and approval process is faster and easier for both consumers and life insurance agents. By the time the customer answers the agent’s questions and the interview process is completed, the agent will have an immediate response whether or not the client has been approved for life insurance coverage, or if the application must go through additional underwriting.
When applying for JETerm coverage there is no medical examination required for individuals ages 18-50 for up to $500,000 in coverage, and individuals age 51-60 can apply for JETerm with no medical examination for a face value of $250,000 or less. Premiums remain level, or unchanged, for 15, 20, or 30-year time periods.***
“We did our research before launching JETerm. It is competitively-priced protection and we believe it will be viewed favorably by those needing life insurance for their families, or people who carry a mortgage on their home. Having the option to purchase Promise Plus will be helpful for those who have a family history of breast, cervical, or ovarian cancer,” said Cynthia Tidwell, president/CEO of Royal Neighbors. “As a life insurer that advocates for women, we felt it was important to have a Promise Plus option on JETerm. When someone has a diagnosis of breast, ovarian, or cervical cancer the focus should be on getting well and spending time with loved ones – not worrying about making your life insurance payments.”
About Royal Neighbors of America
Royal Neighbors of America, one of the nation’s largest women-led life insurers, empowers women to meet the needs of their families with annuities and life insurance products such as whole life, simplified issue, term, and universal life. Royal Neighbors was founded in 1895 and is headquartered in Rock Island, IL, with a branch office in Mesa, AZ. For more information, visit www.royalneighbors.org or call (800) 627-4762.
*Cancer Waiver Rider (Form Series 2084) is only available in the following states: AZ, AR, CA, CO, DC, DE, FL, ID, IL, IN, IA, KY, ME, MI, MS, MO, NE, NV, NM, OH, OK, OR, RI, SD, TX, WV, WI, WY. Contractual provisions and limitations may vary by state. Subject to reinsurance and underwriting requirements. Certificate and riders are not available in all states. Contractual provisions and limitations may vary by state. Subject to reinsurance and underwriting requirements.
**JETerm - Form Series 1611. Not available in all states. Contractual provisions and limitations may vary by state. Subject to reinsurance and underwriting requirements. Not tax advice. Consult a tax professional.
***After level premium term period, premiums increase annually to age 95.