Product Portfolio

RIDERS AND BENEFITS

These riders and benefits can help you customize your client's insurance contract so that it fits his or her individual needs. To learn more about our riders click on one of the links below.

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Accelerated Death Benefit Rider

This rider allows the policyowner to accelerate the policy death benefit based on the insured's chronic or terminal illness condition as described below. The rider is available at no additional up front premium. (Fees are assessed at the time of acceleration.)

1) Critical Illness Provision

This provision allows the owner of the policy to accelerate up to 10% (maximum of $25,000) of the policy's eligible face amount annually if the insured has been certified by a physician to be critically ill. To be eligible for acceleration of benefits due to critical illness, the insured has been certified within the last 12 months as having been diagnosed with or diagnosed to require one of the following: cancer, kidney failure, heart attach, stroke, major organ transplant.

Review the rider language for all applicable conditions, provisions, definitions and exclusions.

Owner may request payment be made in a single lump sum or in a series of equal payments occurring semi-annually, quarterly, or monthly, over a 12-month period.

Available on Horizon Value™, Horizon Guarantee™ and Horizon Legacy™.

The insured must be age 75 or less, rated at Table 4 or less and the face amount at issue cannot be less than $50,000 with the base policy and Paid-Up Addition Rider combined

This provision is not available in California.

2) Chronic Illness Provision

This provision allows the owner of the policy to accelerate up to 24% (maximum of $240,000) of the policy's eligible face amount annually if the insured has been certified by a physician to be permanently chronically ill. To be eligible for acceleration of benefits due to chronic illness, the insured has been certified within the last 12 months as:

Being unable to perform at least two Activities of Daily Living (bathing, continence, dressing, eating, toileting, transferring) without substantial assistance from another person due to a loss of functional capacity for a period of at least 90 consecutive days,

– OR –

Requiring substantial supervision by another person for a period of at least 90 consecutive days to protect the insured from threats to health and safety due to a physician’s diagnosis of a severe cognitive impairment.

Review the rider language for all applicable conditions, provisions, definitions and exclusions.

Owner may request payment be made in a single lump sum or in a series of equal payments occurring semi-annually, quarterly, or monthly, over a 12-month period.

Available on Horizon Value™, Horizon Guarantee™ and Horizon Legacy™. The insured must be age 75 or less, rated at Table 4 or less and the face amount at issue cannot be less than $50,000 with the base policy and Paid-Up Addition Rider combined.

This provision is not available in California.

3) Terminal Illness Provision

This provision allows the owner of the policy to accelerate up to half of the death benefit of the policy (maximum of $250,000) if the insured has a terminal illness where life expectancy is 12 months or less.

Owner may request payment be made in a single lump sum or in a series of equal payments occurring semi-annually, quarterly, or monthly, over a 12-month period.

Available on Horizon Value™, Horizon Guarantee™, Horizon Legacy™, and SelecTerm.

Accidental Death Benefit

This rider provides payment of an additional benefit amount if the insured dies as the result of an accidental bodily injury within one year of such injury and before age 70. If the insured's death is the result of an injury sustained while a fare-paying passenger on a plane, train, bus, or other common carrier, the benefit amount payable under this rider will be doubled.

Premium for this benefit is level. The minimum issue amount is $5,000. The maximum amount is related to policy size. For policies less than $12,500, the rider may be two times the base policy. For policies between $12,500 and $25,000 the maximum is $25,000. For policies greater than $25,000 the maximum for this rider is an amount equal to the policy face amount but no greater than $150,000 total for all policies at Mutual Trust.

Available on Horizon Value™, and Horizon Guarantee™.

This benefit is not available in Washington.

Applicant Waiver of Premium Benefit

This rider makes it possible for the premiums to be paid on a juvenile policy in the event of the disability or death of the adult applicant. This benefit is available where the applicant/owner is age 18 to 54 and the insured is less than age 15. If the applicant named in the application dies before the insured’s age 25, premiums will be waived until the policy anniversary nearest the insured's 25th birthday. If the applicant becomes totally disabled, we will waive premiums that become due during the duration of that total disability or until the policy anniversary nearest the insured's 25th birthday, whichever is sooner.

Available on Horizon Value™ and Horizon Guarantee™. Not available if there is a term or Flex Pay Paid-Up Additional Rider on the policy.

Children Insurance Rider

This rider provides coverage to all children named in the application who are less than 20 years old at issue. Children born or adopted (if less than 20 years old) after the rider is in effect are also covered under this rider. The Children Insurance Rider is available on policies where the primary insured is age 18 to 55 with a minimum base policy of $10,000. The minimum coverage is $2,000; the maximum is $2,000 for every $10,000 of base death benefit with a maximum rider coverage limit of $10,000.

Available on Horizon Value™, Horizon Guarantee™ and SelecTerm.

Disability Benefit Rider (DBR)

This rider is designed specifically for use with Mutual Trust's Flexible Premium PUA Rider. The policyowner selects a benefit period, a benefit amount, and either a 2-year or 5-year own occupation Waiver of Premium Rider. Upon disability and after a four-month elimination period, the benefit amount selected will be paid as premium payments into the Flexible Premium PUA Rider.

The benefit period starts at issue date of the rider and continues to the end of the benefit period. The minimum benefit period is 7 years. The maximum benefit period is the lesser of rider's payment period, 20 years, or insured's age 65. The minimum annual benefit amount is $1,000. The maximum annual benefit amount is the lesser of $15,000, or the specified maximum premium of the Flex Pay PUA Rider.

Policyowners do not have to add a DBR if they purchase a Waiver of Premium Rider on the base policy; however, they must purchase a Waiver of Premium Rider on the base policy in order to purchase a DBR on the policy.

Available on Horizon Value™, and Horizon Guarantee™.

Guaranteed Purchase Option Rider

This rider guarantees the policyowner the option to purchase additional permanent policy(ies) on the insured for the amount of this benefit without evidence of insurability. The minimum option amount is $5,000, and the maximum amount is $50,000, regardless of the base policy amount. The regular options can be exercised, upon written request, on or within 31 days before each policy anniversary nearest age 22, 25, 28, 31, 34, 37 or 40.

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, and must be exercised within 91 days of the event. When the alternative option is used, it replaces the next scheduled option.

Available on Horizon Value™, and Horizon Guarantee™ policies with underwriting of Standard risk class or better.

Paid-Up Additional Insurance Riders

Two types of Paid-up Additional Insurance Riders (PUA) are available: Flexible Premium PUA and Single Premium PUA.

Flexible Premium PUA
The Flexible Premium PUA Rider gives policyholders flexibility in the amount and frequency of rider premium payments.

The policyowner selects a planned premium (for billing) and a maximum annual premium (capped at $100,000 annually for Horizon Value™ and 30% of total annual premium on the policy for Horizon Guarantee™). The rider is underwritten at the selected maximum amount. Premiums are flexible, however, and policyowners can pay any amount, at any time, as long as the maximum premium is not exceeded and the minimum premium ($100 per policy year) is met. The rider is eligible for dividends.

The Flex Pay PUA Rider is available on Horizon Value™, and Horizon Guarantee™.

Single Premium PUA
This rider provides a level amount of paid-up life insurance purchased for a lump-sum single premium upon issue of the base policy.

The Single Premium PUA Rider is commonly used for funds received as a result of a 1035 Exchange. The rider’s minimum face amount is $500 and the maximum premium is $500,000.

Available on Horizon Value™, and Horizon Guarantee™.

Term Riders

10-Year Term Rider
The 10-Year Term Rider provides term insurance for the primary insured and others—such as a spouse, children, or business partners—increasing the policy's death benefit potential. Premiums are guaranteed level for the first 10 years. Then premiums are level for up to two additional successive 10-year periods. After the last 10-year level period, premiums are annual renewable term to the earliest of age 98 or the end of the premium paying period of the policy. The minimum specified rider amount is $25,000. The maximum amount is ten (10) times the base face amount.

The coverage may be converted without evidence of insurability to a whole life policy offered by the company at the time of the conversion. The conversion can occur any time prior to the end of the insured's final 10-year level period or to the policy anniversary nearest the insured's 70th birthday, whichever occurs first.

Available on Horizon Value™ and Horizon Guarantee™.

20-Year Term Rider
The 20-Year Term Rider provides term insurance for the primary insured and others—such as a spouse, children, or business partners—increasing the policy's death benefit potential. Premiums are guaranteed level for the first 20 years. Then premiums are annual renewable term to the earliest of age 98 or the end of the premium paying period of the policy. The minimum specified rider amount is $25,000. The maximum amount is ten (10) times the base face amount.

The coverage may be converted without evidence of insurability to a whole life policy offered by the company at the time of the conversion. The conversion can occur any time prior to the end of the insured's 20-year level period or to the policy anniversary nearest the insured's 70th birthday, whichever occurs first.

Available on Horizon Value™ and Horizon Guarantee™.

Waiver of Premium Riders

Two Waiver of Premium Riders are available: 2-year own occupation and 5-year own occupation. The provisions of the riders are the same with the exception of the own occupation period selected.

If the insured becomes totally disabled, we will waive the required premium for the base policy during that total disability. During the first 24 or 60 months, the insured has "own occupation" protection. During this period, "occupation" means the occupation of the insured when disability began. After 24 or 60 months, it means any other occupation in which the insured could be reasonably expected to perform satisfactorily considering his or her age, education, training, experience, and physical and mental capacity.

The insured must be disabled for four consecutive months to be declared totally disabled. No premium due before the insured's 5th birthday will be waived.

Flexible Premium PUA Rider premiums are not waived by this rider. See Disability Benefit Rider (above) for more information.

Available on Horizon Value™, Horizon Guarantee™, and SelecTerm.