There’s nothing predictable about retirement or the challenges that come with it. That’s why it’s crucial to have a plan for employees and their families that combines financial protection with flexibility. Group Universal Life from ManhattanLife is that plan. Part of our Voluntary Benefits line, it’s an affordable product designed to supplement employer-provided life insurance.
 

Life is Universal. Risk Doesn’t Have to Be.

Costs associated with unexpected events, such as death or terminal illness, can quickly consume the income employees expect to count on during and beyond retirement.

Group Universal Life coverage can help offset those expenses in a variety of ways. Made available by the employer, benefits can be structured based on cost and employee needs, with flexible and adjustable premiums through the life of the policy.
 

Flexibility for Managing the Unexpected.

Cash value is accumulated over the life of the policy, with a guaranteed interest rate of 2%. If policyholders need cash, they can take out a loan against their Universal Life policy, take a partial surrender, or access the full non-forfeiture feature by turning in the policy for the accumulated cash value, less any outstanding loans. They can even use the cash value to buy paid-up coverage or accelerate payment of the death benefit if diagnosed with a terminal illness.

Build Security from a Solid Base

Universal Life plans are composed of a base policy with premiums payable up to age 100, with a variety of optional riders. Employers select from one of the following:

Level Death Benefit – Death benefit does not change as the insured ages. The beneficiary receives the policy face amount less any payout of accelerated benefits and outstanding loans.

Increasing Death Benefit – The beneficiary receives the death benefit plus the total accumulation value, less any payout of accelerated benefits and outstanding loans.

Base Coverage Amounts
Employee: $2,500 to $300,000
Spouse: $2,500 to $50,000
Child: $2,500 to $25,000 for each eligible child
 

Accelerated Death Benefit for Terminal Illness
The primary insured's death benefit is accelerated up to the lesser of 75% of the applicable death benefit or $100,000 if the insured is first diagnosed with a terminal condition that, with the best medical judgement, will result in death within 12 months.

Optional Riders

• Accelerated Death Benefit for Chronic Illness – Up to a maximum of 36 months, when insured is unable to perform 2 of 6 ADLs or diagnosed with a severe cognitive impairment.
• Family Coverage – Spouse may purchase as a standalone policy; child as added term coverage.
• Waiver of Monthly Deductions for Total Disability – For those totally disabled for 180 consecutive days before age 60.
• Accelerated Death Benefit for Critical Conditions – Benefits cover invasive cancer, heart attack, major organ transplant surgery, renal failure and stroke.
• Accidental Death and Dismemberment – Benefits include AD&D, common carrier, transportation of remains, survivor training, elder care, child education and childcare center.
   

Benefits and riders may vary by state and may not be available in all states. Portability is available if the Insured loses eligibility for this insurance for any reason other than nonpayment of premiums on a direct bill basis. The company may charge the Guaranteed Certificate Fee. This is not a complete disclosure of plan qualifications and limitations. Please access our website to obtain a completed list for the Workplace Voluntary Benefit products at www.manhattanlife.com. Please review this information before applying for coverage. The amount of benefits provided depends on the plan selected. Premiums will vary according to the selection made. THIS POLICY PROVIDES LIMITED BENEFITS.