Question about this product. Looks like underwriting is really easy. My concern is the death benefit is only guaranteed for 10 years. The rep I was speaking to said the odds of the death benefit being reduced is rare because based on the life expectancy would have to decrease on a segment and that hasn't happened. Is that correct and has anybody had any experience working with them. Down Below is what the brochure states:
Family Protection Plan Highlights
The Family Protection Plan offers a
guaranteed level premium to age 100** and a
lump-sum cash benefit if you die before age
100. The death benefit is guaranteed for the
first ten years of coverage and priced so the
death benefit can remain level. The coverage
amount cannot be individually decreased+ on
a particular insured due to a change in age,
health, or employment status.
**
Family Protection Plan Highlights
The Family Protection Plan offers a
guaranteed level premium to age 100** and a
lump-sum cash benefit if you die before age
100. The death benefit is guaranteed for the
first ten years of coverage and priced so the
death benefit can remain level. The coverage
amount cannot be individually decreased+ on
a particular insured due to a change in age,
health, or employment status.
**