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The Presidential Life Graded Benefit
(whole) Life policy is issued on a guaranteed issue basis
for ages 40 - 80 in most states.** There are no medical questions,
no medical examinations, and no medical tests required to
obtain this coverage. The minimum policy face amount is $2,000,
and the maximum, $50,000.
Benefits payable under the Graded
Benefit (whole) Life policy are limited in the first two or
three years, depending on the issue age of the insured.
If the insured is under age 65, the
benefit payable in the event of death that does not result
from accidental means during the first 3 policy years is an
amount equal to the premiums paid plus 5% compounded annually.
If the insured is age 65 or older,
the benefit payable in the event of death that does not result
from accidental means during the first 2 policy years is an
amount equal to the premiums paid plus 5% compounded annually.
If death occurs as the result of accidental
means during a policy's 2- or 3-year graded benefit period,
the death benefit payable under the policy will be premiums
paid plus 5% compounded annually plus an accidental death
benefit amount equal to the full face amount of the policy.
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