Life Insurance FAQs - Address Change

What dividend options are available?

If your policy is currently earning dividends, the owner may receive dividends in one of the following options:

• Receive a check
• Apply the dividend towards the premium
• Purchase paid-up additional insurance
• Have dividend accumulate with interest
• Purchase one year term insurance or
• Apply the dividend towards the loan balance

When and how can I change my dividend option?

The dividend option can be changed, by the owner, any time 30 days prior to the policy anniversary and will be effective as of the next policy anniversary. The owner can change the dividend option by completing the Change of Dividend section of the Policy Change Request From.

When are dividends paid?

Dividends are applied on the policy anniversary. If the dividend option is to receive a check, the owner should receive the check within 5 to 7 business days from the policy anniversary date.

Can I withdraw my dividends?

If the policy has accumulated dividends or dividends are being used to purchase additional insurance, the owner can withdraw the dividends at any time by completing the Surrender of Dividends section of the Policy Change Request Form. The surrendered dividends can be: sent to the owner by check; used to pay a premium; or used to reduce the loan balance. Please note, if the policy has a current loan balance that is close to the cash value balance, all of the dividends are not available for surrender as it may cause termination of the policy due to negative value.

What is option "Withdraw dividend to pay premium EACH YEAR" located in the Surrender of Dividend section of the Policy Change Request Form?

This option is available if the policy has accumulated dividends or paid up additional insurance. It authorizes the Company to automatically withdraw and pay the annual premium from the accumulated dividends or cash value of the paid up additional insurance.