American National very comprehensive coverage recommend (available CA) (not in NY)
Indexed Universal Life and Guaranteed Universal Life (GUL, ULSG) products
Pros: covered illnesses may include: heart attack, stroke, invasive cancer, end stage renal failure, major organ transplant, ALS, blindness, paralysis, arterial aneurysms, central nervous system tumors, major multi-system trauma (major trauma to three or more organs or systems), AIDS, severe disease of any organ (resulting in significantly altered life expectancy), severe central nervous system disease (Parkinson’s, Huntington’s, Encephalitis with long-term effects), major burns >40% BSA, third degree, loss of limbs; see rider for complete list of critical illnesses and definitions.
Nationwide
“Guaranteed Level Term” Chronic Illness, Critical Illness
Transamerica recommend
“Transamerica Financial Choice IUL”, ” Transamerica Financial Foundation IUL”
“Transamerica Lifetime Whole Life” (non-par) reduced paid up option
“Trendsetter® LB” term life insurance: Chronic Illness Accelerated Death Benefit and Critical Illness Accelerated Death Benefit, Terminal Illness Benefit
Pros: Cash benefit, an indemnity style benefit rather than the more limiting reimbursement method. Determined by a licensed physician to have suffered a critical health condition, such as heart attack, stroke, cancer, kidney failure, major organ transplant, blindness, and paralysis (loss of use of two or more limbs), AIDS, First coronary artery bypass, Aplastic anemia, motor neuron disease, central nervous disease, end-stage renal failure, first coronary angioplasty. Please see the policy for complete definitions of qualifying conditions.
The maximum benefit over the lifetime of the insured is 90% of the Policy Face Amount or $1,500,000, whichever is less
Also includes chronic illness benefit.
see Chronic Illness page for more details on living accelerated benefit
updated: 2/13/2024 product features subject to change
2/13/2024: Nationwide
11/17/2023: Transamerica revised