Grace Period
A specified number of days between a premium’s due date and the date the policy will lapse if the premium is still unpaid. If the insured dies during the grace period, the unpaid premium is deducted from the policy proceeds. Guaranteed Insurability
A rider that provides the policyowner the right to purchase a certain amount of additional insurance coverage at specified ages without providing evidence of insurability. Guaranteed Purchase Option
A rider that provides the policyowner the right to purchase a specified amount of insurance coverage similar to the original policy without providing evidence of insurability. Guaranteed Renewable
The right given to a policyowner to continue insurance coverage (non-cancellable) as long as the premium is paid; however, the insurance premium could increase.
Forms & FAQs for All Products
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Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free (800) 369-2862. Nondeposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to members. CUNA Brokerage Services, Inc., is a registered broker/dealer in all fifty states of the United States of America. The Representative may also be a credit union employee that accepts deposits on behalf of the financial institution.
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©1997-2009 CUNA Mutual Group.
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