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Life Coverage Enhancements

Are there coverage enhancements available for life insurance?

Every individual’s situation is different, which is why we have a wide variety of enhancements so that you can tailor your policy to your needs. Below is information regarding the enhancements we offer and how they can benefit you. Talk to your local Pekin Insurance agent about what coverage enhancements make sense for you.

Long Term Care

This benefit, which is available on our permanent insurance policies, allows you to select a portion of the death benefit to pay for long-term care expenses, including nursing home, assisted living, adult day care, or home health care costs.

Accelerated Death Benefit

This rider allows you to withdraw up to $250,000 or 50% of the coverage face amount, whichever is less, if you have been diagnosed as having a “Terminal Illness.” There is no charge for this rider, and it may be added at any time without evidence of insurability.

Accidental Death Benefit

For an additional premium, this rider provides an additional benefit above the stated coverage amount in the event the primary insured dies of accidental death before the age of 70.

Guaranteed Insurability Benefit

Want to protect your ability to purchase additional amounts of life insurance in the future? This benefit guarantees that a specified amount of additional permanent Life insurance may be purchased on the life of the insured at specified future dates, at standard rates, without evidence of insurability.

The amount of additional insurance (option amount) which may be purchased at each of the specified future dates will be equal to the amount of insurance of the policy to which the rider is attached, subject to a maximum option amount of $25,000.

The regular option dates are the policy anniversaries next following the birthdays on which the insured attains age 20, 25, 28, 31, 34, 37, and 40. In addition, special option dates are provided whereby term insurance equal to the basic amount of the option is provided automatically for three months from the date of the insured’s marriage and also from the date of each live birth of a child of the insured’s when such events occur more than three months before he or she attains age 40. At the end of the term insurance period, there is a special option date on which the insured may elect to take insurance in lieu of waiting until the next regular option date.

Waiver of Premium Benefit

In the event of total and permanent disability before age 60 as defined in the rider, Pekin Life Insurance Company will waive all premiums falling due on the life insurance policy while the insured is so disabled.

Children’s Term Insurance

This rider provides term life insurance on the children of the insured until the child attains age 25 or until 25 years from the date of issue of the policy (whichever comes first). 

Children born to or adopted by the insured after the rider becomes effective are automatically covered. 

Identity Theft

This coverage, which is included free of charge for all Pekin Life Insurance Company policyholders, provides Identity Fraud expense coverage. Learn more »

Disability Income

This rider, which is available on our permanent insurance policies, provides for replacement of income while the primary insured is disabled and unable to work.

See what Pekin Insurance can do for you.

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