“Guaranteed Heritage Program”
Simplified Issue Whole Life
&
Modified Whole Life
“Guaranteed Heritage Program”
SIWL & Mod WL
These two products were designed to meet
the “last expense” needs of Americans in
general and more specifically those of an
aging Baby Boomer population.
Simplified underwriting combined with rapid
issue and quick compensation make it
appealing to both the applicant and the
producer.
“Guaranteed Heritage Program”
Simplified Issue Whole Life
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Minimum policy $1,000
Maximum policy $25,000 to age 65
Maximum policy $15,000 ages 66 to 80
Issue ages 0-80 ALB
Sex distinct rates
Guaranteed premiums & Cash Values
Commissionable Annual policy fee $50.00
Minimum Modal premium $15.00
0-80
“Guaranteed Heritage Program”
Blended rates, not tobacco/non-tobacco
are used with these products to simplify
underwriting and increase overall
compensation for the writing agent
“Guaranteed Heritage Program”
Simplified Issue Whole Life
Simplified Underwriting:
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Issued “Standard” through Table 6
Ages 0-70 : up to $15,000 based on application only
Ages 71-75: up to $15,000 based on application & TI
Ages 76-80: up to $15,000 based on application & APS
Amounts between $15,000 & $25,000 based on application and
additional information (varied based on age an amount)
Premium Factors:
• Semi Annual
= Annual X .51
• Quarterly
= Annual X .265
• Monthly (BD or LB) = Annual X .085
“Guaranteed Heritage Program”
Simplified Issue Whole Life
Modified Whole Life
Both products use the same simplified application. The Liberty Bankers
Life underwriters first determine if a case falls within 6 Underwriting
Tables. If not, they proceed to determine if the case can be issued
within 14 Underwriting Tables and then issue the Modified Whole
Life. Any applicant falling outside 14 Underwriting Tables is declined.
Their objective is to issue policies whenever possible. There are
relatively few cases where one or the other of these plans can not
be issued. In order to assist the agent in determining those cases
that fall outside the acceptable parameters and may be “declines”
Liberty Bankers Life makes an “Agent Field Underwriting Guide”
available.
“Guaranteed Heritage Program”
Modified Whole Life
• Benefit equals Return of Premium + 10%
during the first 3 years
• 100% Benefit in year 4
• 105% Benefit in year 5
• 110% Benefit in year 6 and after
The plan “makes whole” the insured who reaches the sixth year by
increasing the coverage to make up for a slightly higher premium
than the SIWL.
“Guaranteed
Heritage
Program”
Modified
Whole Life
“Guaranteed Heritage Program”
Modified Whole Life
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Minimum Policy $1,000
Maximum Policy $15,000
Issue Ages 40-80 sex distinct ALB
Guaranteed Premiums
Guaranteed Cash Values
Guaranteed coverage increases
Premiums slightly higher than SIWL
Same Premium Factors as SIWL
“Guaranteed Heritage Program”
Modified Whole Life
Simplified Underwriting:
• Ages 40-70 up to $15,000 based on application
only
• Ages 71-75 based on application & TI
(telephone interview)
• Ages 76-80 based on the application and APS
• Field Underwriting Guide available
• 800 “call in” assist number
Issued
Standard
To table
14
“Guaranteed Heritage Program”
Simplified Issue Whole Life
Modified Whole Life
Liberty Bankers Life provides quick underwriting and turn
around time out of its Austin TX service office where its
professional staff understands that “nothing happens
until a sale is made” in our business.
Compensation is paid weekly and the commission levels
are the same for both products.
Check with your MGA to see what the commission levels
are and what other benefits may be available
“Guaranteed Heritage Program”
You can bank on it!
Check us out at www.libertybankerslife.com