Optional MaxCL Benefits
Each of these benefits can be purchased as riders to MaxCL certificates.
If Accelerated Benefits are included as part of your life insurance certificate and you are diagnosed with a terminal illness, you can receive 75 percent of your death benefit, minus any outstanding loans, prior to death. Your beneficiary will receive the remainder of the death benefit upon death. Automatically included on select Modern Woodmen life insurance certificates, you will not be charged for this benefit.
Accidental Death Benefit
If the Accidental Death Benefit is part of your insurance certificate and you die as the result of an accident, your beneficiaries will receive an amount of money in addition to the basic death benefit. Often, this benefit is set to pay double your death benefit.
Cost of Living Increase
With this benefit, your amount of insurance will automatically increase every three years, according to the Consumer Price Index, and you will not have to show evidence of good health. There is no cost for this rider.
Guaranteed Increase Option
With this rider as a part of your life insurance certificate, you can increase the insurance amount at specified later dates without providing any evidence that you’re in good health.
Waiver of Monthly Deductions
If you become totally disabled while the Waiver of Monthly Deductions benefit is part of your life insurance certificate, Modern Woodmen will pay your monthly deductions
Riders may not be available in all states.