Optional MaxLife Benefits
These benefits can be purchased as riders to MaxLife life insurance.
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.
Guaranteed Purchase Option
If this benefit is part of your Modern Woodmen life insurance certificate, you can purchase additional insurance at specified later dates without taking medical exams or showing any proof of insurability.
If the Paid-up Insurance rider is part of your life insurance certificate, you can get extra, guaranteed coverage that's already paid for, builds cash value and could earn dividends.
If the term insurance rider is part of your life insurance certificate, you can customize coverage combinations to best meet your needs. By adding a term insurance rider to a MaxLife plan, you can get protection at a lower cost for times when your needs are large.
Waiver of Premium Benefit
If you become totally disabled while the Waiver of Premium Benefit is part of your life insurance certificate, Modern Woodmen will pay your premium payments for the period of your disability or until the end of your premium-paying period, whichever comes first.
Accidental Death, Guaranteed Purchase Option, Paid-up Insurance, Term Insurance and Waiver of Premium are not available on MaxLife1. Riders may not be available in all states.