NEW VANTAGE® PAYMENT OPTIONS
Full Pay: Policyholders that choose a full pay option will pay premiums for the life of the policy. This is a good option for customers who want their monthly premium to stay low. The full pay payment type can be issued up to age 85 for both male and female customers.
Single Premium: A single premium payment type is a good option for customers who want to pay once and never have to worry about paying premiums again. A single premium payment type offers instant coverage, a one-time payment and lifetime benefits of the policyholder. This payment type issues up to age 72 for men who don’t smoke and 63 years old for men who do. Women can take advantage of this payment type up to age 76 for non-smokers and 73 for smokers.
10-Pay: Customers who want to minimize the amount of time that they have to pay premiums but still want full coverage might consider a 10-pay payment type plan. The 10-pay payment plan offers the same benefits but will be fully paid up after 10 years. There is never an additional premium payment after that and the coverage will stay in effect for the life of the policyholder. The 10-pay payment plan is available for men and women up to 75 years of age.
20-Pay: The 20-pay payment plan offers customers a paid-up policy after 20 years of paying premiums. This is a good plan to consider for individuals who don’t want to pay premiums their entire life but still want coverage to apply for their lifetime. This payment type plan issues up to 65 years of age for both men and women.