![]() ![]() ![]() Paid-Up Additions: This included feature can be used to increase the policy’s total death benefit and cash value.The Terminal Illness Option is available to an insured who has been covered by the Flagship Whole Life plan for five or more years.(2) Terminal Illness Option: If the insured is diagnosed with a terminal illness resulting in a remaining life expectancy of 24 months or less, a one-time, lump-sum payment of up to 100% of the plan’s death benefit can be paid. To receive tax-free payments under the Chronic Illness Option settlement, the condition must be expected to be permanent and must be reverified annually. A chronic illness is one that causes an individual to require assistance with at least two activities of daily living (bathing, dressing, eating, transferring from a bed to a chair, continence, or toileting) or a significant cognitive impairment lasting for at least 90 days.This can help offset any costs associated with a chronic illness, including long-term care. (1) Chronic Illness Option: If the insured is at least 60 years old and develops a need for assistance with two or more activities of daily living or supervision due to cognitive impairment, the plan’s death benefit can be paid out over 48 or 60 months. Navy Mutual’s Flagship Whole Life plan features a two-part accelerated death benefit at no additional cost. ![]()
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