Page 6 - Living Benefits

Rider Availability/Limitations Death Benefit Eligible for

The chronic and critical illness versions may not be Acceleration
added to policies rated higher than table 4 or with • Primary Insured Riders are included in the Total
a flat extra rating greater than $5.00 per thousand. Death Benefit to be accelerated on the Base

• Accelerated benefits will not be paid for Insured.
conditions resulting from self-inflicted injury or • Paid Up Additions Rider (Form Series:
attempted suicide. 5 PUAR16. Forms may vary by state)

• No accelerated benefit will be paid for any • ANICO Signature Term Rider – The ANICO
qualifying event that occurs on or before the Signature Term Rider also covers other insured
date of issue of the base policy. parties (Form Series: ARTR18; ARTR18(NY);
Policies with death benefits exceeding the Forms may vary by state)
maximum amount available for acceleration • The Other Insured Party death benefits are
will still contain the Accelerated Benefit Riders; available for acceleration only if the Other
however, the owner will only be able to accelerate Insured experiences a qualifying condition.
up to the maximum amount available for
acceleration. For example, on a $4,000,000 policy Please note that the death benefit provided
(where eligible), the owner will only be able to by a Children’s Term Rider is not eligible for
accelerate $2,000,000 for an insured 65 and under. acceleration.

Additional New York Resident Accelerated Benefit Amount
Availability/Limitations The accelerated benefit amount is computed using
the following formula where the actuarial discount
• The Critical Illness Rider is not available.
reflects the cost of paying a death benefit prior to
• A supplemental application is required to the actual death of the Insured. The accelerated
determine eligibility for the Chronic Illness benefit amount will never be less than the cash
Rider. value associated with the eligible death benefit.

• For Chronic Illness, New York requires Eligible Death Benefit
a Licensed Health Care Practitioner’s - Actuarial Discount
certification that the condition requires - Administrative Fee (not to exceed $500) 6
continuous care for the remainder of the - Pro-rata percentage of Outstanding Policy Debt 7
insured’s life.
= Accelerated Benefit Amount
• The maximum benefit that may be paid to you Please note the owner must submit supporting
in a calendar year under the Chronic Illness documentation and medical records including
Rider may not exceed the annualized per diem certification from the appropriate health care
amount that is in effect for long term care practitioner that insured has one of the qualifying
services. Please see 26 USC 7702B(d)(4) to conditions. If a partial benefit is requested such as
determine the amount currently in effect for 25% and there is outstanding policy debt, 25% of
the current year.
the debt would be deducted from the Accelerated
Benefit Amount.

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