Riders

You can add value to your base insurance policy by attaching riders. A rider is an additional set of terms and conditions that is not included in the original policy. When you attach one to a policy, it essentially becomes part of your overall insurance contract. Riders can help you customize your insurance contract so that it fits your individual needs. Here is a look at the riders Mutual Trust offers. To learn which riders are right for you, consult your Mutual Trust Insurance Representative.

PAID-UP ADDITIONAL (PUA) INSURANCE RIDERS

Flex Pay PUA Rider
Our Flex PUA Rider lets you easily and flexibly increase the amount of guaranteed death benefit and cash value in your whole life policy, even to age 90. When you purchase a Flex PUA rider, you select the maximum premium you want to pay, up to $100,000 per year. Then, each year you pay any amount, at any time, as long as you pay $100 per year and don’t exceed the maximum premium you selected. Money paid into the rider is participating, which means it may earn dividends like the rest of your policy.1 (Base Policy Form No. 922, or state variation.)

Single Premium PUA Rider
Mutual Trust’s Single Premium PUA Rider enables you to increase your death benefit and cash value by paying one lump sum premium into your base policy at the time your policy is issued. The minimum coverage you can purchase on the rider is $1,000, and the maximum premium you can pay is $500,000. Money paid into the rider is participating, which means it may earn dividends like the rest of your policy.1 (Base Policy Form No. 910, or state variation.)

TERM RIDERS

7-Year Term Rider
Mutual Trust’s 7-year term rider, which provides guaranteed level premiums for seven years, can be attached to selected Mutual Trust whole life products at policy issue or on an anniversary date after the policy is in force (subject to underwriting). The rider provides a fixed amount of term insurance for the primary insured and up to seven additional insured individuals, such as a spouse, children, business partners, or any other persons to whom the owner has an insurable interest. Beginning in year 8, premiums increase and the rider becomes annually renewable to whichever comes earlier, age 95 or the end of the premium-paying-period of the policy.2 (Base Policy Form No. 9-11, or state variation.)

15-year Term Rider
Mutual Trust’s 15-year term rider, which provides guaranteed level premiums for 15 consecutive year periods to age 80, can be attached to selected Mutual Trust whole life products at policy issue or on an anniversary date after the policy is in force (subject to underwriting). It provides a fixed amount of term insurance for the primary insured and up to seven others. After age 80, it becomes an annually renewable term rider to whichever comes earlier, age 95 or the end of the premium-paying-period of the policy.2 (Base Policy Form No. 9-11, or state variation.)

ACCELERATED DEATH BENEFIT RIDERS

Chronic Illness Provision
This provision enables the owner of the policy to accelerate up to 24% (maximum of $240,000) of the policy’s death benefit annually if the insured has been certified through written certification by a physician to be permanently chronically ill. This provision is available at no additional premium on Mutual Trust’s Horizon Value™ and Legacy One policies.3 (Base Policy Form No. 90-11, or state variation.)

Terminal Illness Provision
This provision makes it possible to receive up to half of the death benefit of the policy (maximum of $250,000) prior to the death of the insured if the insured is diagnosed to have a terminal illness for which the insured’s life expectancy, assuming ordinary and reasonable medical care, is 12 months or less. This provision is available at no additional premium on all Mutual Trust whole life and term products.3 (Base Policy Form No. 90-10, or state variation.)

DISABILITY RIDERS

Applicant Waiver of Premium Benefit
Our Applicant Waiver of Premium Benefit is available to applicants (policyowners) 18 to 54 years of age if the insured is less than 15 years of age. In the event the policyowner dies before the insured reaches age 25, Mutual Trust will waive premium payments that become due until the policy anniversary nearest the insured’s 25th birthday. In addition, if the policyowner becomes totally disabled, Mutual Trust will waive premium payments that become due during the duration of the total disability, or until the policy anniversary nearest the insured’s 25th birthday, whichever is sooner.2 (Base Policy Form No. 80-8, or state variation.)

2-Year Waiver of Premium Benefit
Our 2-Year Waiver of Premium Benefit exempts policyowners from making premium payments in the event of a disability. If the insured becomes totally disabled, Mutual Trust will waive premiums upon receipt of proof of total disability during the continuance of the disability. For the first two years of disability, total disability is defined as only the occupation when disability began. Thereafter, it expands to any reasonable occupation.2 (Base Policy Form No. 21-9, or state variation.)

5-Year Waiver of Premium Benefit
Our 5-year Waiver of Premium Benefit exempts policyowners from making premium payments in the event of a disability. If the insured becomes totally disabled, Mutual Trust will waive premiums upon receipt of proof of total disability during the continuance of the disability. For the first five years of disability, total disability is defined as only the occupation when disability began. Thereafter, it expands to any reasonable occupation.2 (Base Policy Form No. 21-14, or state variation.)

Disability Benefit Rider (DBR) for Flex Pay PUA Rider
This rider is specifically designed for use with our Flex Pay PUA Rider. When the rider is issued, the policyowner selects a benefit period, a benefit amount, and either the 2-year or 5-year own occupation option. Should the insured become disabled, upon approval of disability and a four-month elimination period, the benefit amount selected will be paid as premium payments into the Flex Pay PUA Rider.2 (Base Policy Form No. 21-15D, 21-16D, or state variation.)

SUPPLEMENTARY BENEFITS

Accidental Death Benefit
Our Accidental Death Benefit Rider provides additional death benefits if the insured dies within one year of an accident and before age 70.2 (Base Policy Form No. 32-8, or state variation.)

Children Insurance Rider
This rider covers all children under age 20 who are named in the application and those children, under age 20, who are born or adopted after the rider is in effect.2 (Base Policy Form No. 15-8, or state variation.)

Guaranteed Purchase Option Rider
Our GPO guarantees the policyowner the option to purchase additional permanent policies without evident of insurability before each policy anniversary nearest age 22, 25, 28, 31, 34, 37 and 40. Or the owner may choose to advance the next option date upon marriage or the birth or adoption of a child. This alternative option may be substituted for all options except the last one.4 (Base Policy Form No. 50-8, or state variation.)


1)

Dividends are never guaranteed nor required by law. See Rider Provisions for full details.

2)

See Rider Provisions for full details.

3)
Administrative and reduction fees are taken at the time of acceleration. See provisions for full rider details.

4)
See Guaranteed Purchase Option Provisions for full details.

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> Economax

> Legacy One


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Form No. 190