Your clients can add specific protection to their life insurance policy with an available rider. Not all riders are available with all products or for all insureds. Some charge an additional fee and some do not. Please consult the specific product specifications for rider eligibility and requirements.
Cash Value Plus Rider
This rider provides a surrender charge reduction if the policy is surrendered during the first eight policy years. Additionally, the rider provides a premium charge refund if the policy is surrendered during the first three policy years.
Children's Term Insurance Rider
This rider provides term insurance protection for the children of an insured. It may be converted to a permanent insurance policy in the future without the child having to show evidence of insurability.
Disability Waiver of Monthly Deductions Rider
If the insured is totally disabled for at least six months, this rider waives the monthly deductions from the policy account. The disability must begin prior to the policy anniversary nearest age 60. If it begins after that time, monthly deductions due to be made before the age 65 anniversary will be the only ones waived.
- Available for issue ages 0-59
- Must be added at policy issue; cannot be added later.
- Available only on policies where the base insured is rated no higher than Class D.
- Cost is taken as part of the monthly deductions against the net Policy Account Value.
Long-Term Care Servicessm Rider
With this rider, your clients may become eligible to receive an accelerated death benefit that can be used for qualified long-term care expenses if the insured is chronically ill and receiving qualified long-term care services in accordance with a Plan of Care. The monthly benefit payments are a percentage of the Long-Term Care Specified Amount at the time the long-term care payments begin.
- Benefits paid under the rider are treated as a lien against the policy values, and do not accrue interest.
- Generally available for issue ages 20-75.
- There are a number of limitations and exclusions with regard to the Long-Term Care Servicessm Rider (LTCSR), including the insured must be rated Substandard (no worse than Table D) or better, with no medical flat extra charges.
- Monthly deductions for the rider are not considered to be distributions from the policy for federal income tax purposes.
Option to Purchase Additional Insurance
This rider allows clients to increase the policy face amount or to purchase a new policy on the life of the insured for the amount of the option, on specific dates, without evidence of insurability.
Available at no additional charge
Charitable Legacy Rider®
The rider provides an additional death benefit of up to 1 percent of the current base policy face amount to the qualified charitable organization(s) chosen by the policy owner at no additional cost. This benefit is in addition to the death benefit payable by the base policy and any other riders.
- Rider must be added at policy issue.
- Designated beneficiary charities must be accredited 501(c) organizations under Internal Revenue Code 170 and must be named in the policy at issue, although they can be changed later.
- Available for policies with face amounts of $1 million or more, where the benefit would be between $10,000 and $100,000.
Integrated Term Insurance Rider
This rider provides for additional coverage on each insured within a given case. The term insurance benefit provided by the ITR is the difference between the total death benefit and the base policy death benefit. There is a separate per $1,000 of ITR Face Amount administrative charge, and separate cost of insurance charges for coverage under the ITR.
- The minimum ITR Face Amount at issue is $50,000 per insured.
- The ITR is available at up to 90% of the Target Amount (base policy face amount plus ITR face amount) for any individual life policy with a Target Premium of $50,000 or a case with a Group Target Premium of at least $50,000.
- The Target Premium is the Commissionable Target Premium (CTP) resulting from blending ITR and base policy coverage. The Target Premium after blending in term coverage must remain at least $50,000. The target premium for each policy depends upon the Base Policy Face Amount and the age, sex, and class of risk of the insured. The ITR face amount does not contribute towards the target premium.
Automatically included at no additional charge
Interest Guarantee Endorsement
The Interest Guarantee Endorsement provides a minimum accumulation value called the Alternate Policy Account Value. This value is used in addition to the regular Policy Account Value to provide additional protection in certain scenarios, including:
- Adequacy of the policy value to cover monthly deductions to prevent policy lapse,
- Cash Surrender Value at full surrender,
- Death Benefit, and
- Amount available for a policy loan.
Living Benefits Rider (terminal illness)
With this rider, your clients can receive a portion of the policy’s death benefit if the surviving insured is diagnosed as terminally ill, with no more than 12 months to live.
Loan Extension Endorsement
This feature, which is only available on Guideline Premium Test (GPT) policies, provides that the policy will not lapse because of a total loan balance that exceeds the larger of the current or initial base face amount, if certain conditions are met.
- This endorsement is automatically included at issue. However, the Loan Extension Endorsement will not go into effect if the Return of Premium Death Benefit Rider is on the policy.
- Once a policy is placed under Loan Extension, it cannot be deactivated.
Market Stabilizer Option® (charge only if exercised - not available in New York)
This option provides a balance between growth and protection through a hedging strategy.
- The amount in this account is credited based on the performance of the S&P 500® Index, up to a Growth Cap Rate.
- Clients trade some of the upside market potential for downside protection.
- If the performance of the S&P 500® Index is negative, clients' return will be zero for up to -25 percent. If there’s a larger decline, we will still absorb the first -25 percent of the loss. Because the performance in this account will be negative for any loss in excess of 25 percent, there is potential for substantial loss of principal.
If exercised, there is an additional annual rate charge of 1.15 percent (guaranteed no to exceed 2.4 percent annually).
The No-Lapse Guarantee (NLG) rider guarantees the policy will not terminate during the NLG period as long as the premium requirement for the NLG is met and any policy loan and accrued loan interest does not exceed the Cash Surrender Value of the Policy Account.
Option to Split upon Divorce Rider
With this rider, clients may split their Survivorship policy into two individual life insurance policies of equal face amount if they become legally divorced.
Option to Split upon Federal Tax Law Change Rider
With this rider, your clients can split their survivorship policy into two individual life insurance policies without providing evidence of insurability, if changes are made to the federal tax law reducing the marital deduction or the maximum federal estate tax bracket to a rate below 25 percent.
Paid Up Death Benefit Guarantee Endorsement
This endorsement guarantees that the policy will remain in effect for the client’s life, regardless of investment performance, as long as any loan or accrued loan interest does not exceed the policy account value.
- Can be elected any time after the fourth policy year and before the insured’s attained age 121, provided there is sufficient account value and the policy is not currently on waiver status or claim under the Loan Extension Endorsement, Living Benefits Rider, or Long-Term Care Services Rider.
Policy Continuation Rider (charge only if exercised)
This rider, if exercised, protects the policy from lapsing because of a loan balance that exceeds the current face amount.
Substitution of Insured Rider
This rider lets the policy owner name a new insured on the policy at any time after the second policy year, subject to satisfactory evidence of insurability.
- Any additional riders in effect at the time of the substitution will terminate, although the policy owner may reapply for certain riders.
- Exercising this rider is considered a taxable event if there are any gains in the policy.
Financial Professional materials
Charitable Legacy Rider
Market Stabilizer Option® (MSO)
Long-Term Care ServicesSM Rider
All riders are subject to the terms and conditions of the rider. All riders may not be available in all jurisdictions. Some states may vary the terms and conditions. There may be an additional charge associated with obtaining certain riders. Some riders may not be available in combination with other riders and/or policy features.
BrightLife®, Charitable Legacy Rider®, IncentiveLife® and Market Stabilizer Option® are registered service marks, and Interest Sensitive Whole Lifesm, and Long-Term Care Servicessm are service marks of Equitable Financial Life Insurance Company, NY, NY.