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BENEFITS AND RIDERS

At StateTrust Life and Annuities we see benefits as one of our main areas of focus, because it is through benefits that we make it possible for our customers to plan for their future and their families’ future in three essential areas: protection, education, and retirement.

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PRODUCTS LIFE INSURANCE POLICIES EDUCATION PLANS RETIREMENT PLANS
BENEFITS AND RIDERS In case of death:
Fixed
Incremental
Semi-annual amount at college age Annual amount at age of retirement
Insurance coverage may be capped and remain the same or may be incremental, where the death benefit increases as the account value increases. Benefits are paid to the planholder on the date on which studies begin.

If the policyholder dies, the beneficiaries may start receiving funds immediately. Benefits may also be paid out to beneficiaries or the designated student on the date their studies begin (based on previously recorded wishes of policyholder).

Income is received during the retirement period specified by the plan. Retirement benefits are paid annually.

If the planholder dies, beneficiaries are protected by the immediate execution of their retirement plan.

Beneficiaries receive benefit payments in a timely manner, paid out as checks, account deposits or through a bank account in our subsidiary StateTrust International Bank or an investment portfolio managed by StateTrust Investments.
RIDERS  
  1. Accidental Death
  2. Temporary Additional Insurance
  3. Spouse Insurance/ Other Insured.
  4. Critical Illness
  5. Terminal Illness
  6. Premium exemption
  7. Total/permanent disability
RIDER DESCRIPTION
ACCIDENTAL DEATH BENEFIT (ADB) Additional coverage applied only in case of accidental death.
SPOUSE INSURANCE/ OTHER INSURED RIDER (OIR) Coverage for an additional insured person within the same policy. Generally used for a spouse, minors and/or parents. This type of policy allows insuring another person for a minimal increase in premiums.
LIFE INSURANCE PROVISIONAL RIDER (LIPR) Additional coverage for a specific period of time chosen by the customer when submitting a policy application. Allows for more coverage at a lower cost and offers a good cost/benefit relationship.
CRITICAL ILLNESSES This rider will pay benefits while the insured party is alive, when diagnosed for the first time with any of these critical illnesses:

  1. Cancer
  2. Myocardial infarction
  3. Stroke or cerebral infarction
  4. Kidney failure
  5. Coronary revascularization or bypass
  6. Transplant of vital organs
  7. Loss of sight or blindness
  8. Paraplegia
  9. Dismemberment

These illnesses require highly specialized, costly care and may prevent the insured from performing work-related activities, impacting their financial situation. Having this rider will enable the insured to seek the best medical services to treat and live with any of these illnesses.

ACCELERATED BENEFIT FOR TERMINAL ILLNESS A partial advance payment for coverage—while the insured is alive—in cases of verifiable terminal illness with a specific prognosis of life expectancy. This rider is free of charge for the insured.
PREMIUM EXEMPTION Exemption of premium payments when the insured party is declared fully and/or permanently disabled, due to bodily injury or illness, and is unable to work.

StateTrust Life will cover premium payments for the insured party and will keep the life policy up-to-date throughout the period where the insured party is disabled. Premium payment will only cover the monthly cost of the insurance policy and other expenses (savings components and extra premiums are not included). The original death coverage and values, if applicable, are not affected.

TOTAL/PERMANENT DISABILITY StateTrust Life will pay the established insured amount in advance if, during the term of the life policy, the insured party suffers a proven disability, due to an accident, illness or both.

Total and permanent disability is defined as a physical or psychological condition suffered by the insured, as a result of an accident or illness, and which has caused total and permanent incapacity to perform professionally or autonomously.

  ACCIDENTAL DEATH (ADB) SPOUSE INSURANCE/ OTHER INSURED (OIR) TEMPORARY ADDITIONAL INSURANCE (LIPR) CRITICAL ILLNESSES ACCELERATED BENEFIT FOR TERMINAL ILLNESS PREMIUM EXEMPTION TOTAL/PERMANENT DISABILITY
MINIMUM COVERAGE $50,000 in the plan's currency. $50,000 in the plan's currency. $50,000 in the plan's currency. Coverage amounts vary based on the contractual amount insured. 50% of the amount insured The amount of exempt premiums will be equal to the premiums from the date of disability throughout the time the insured party remains disabled.
MAXIMUM COVERAGE $150,000 in the plan's currency Equal to or less than the insured amount Equal to or less than the insured amount $150,000 $250,000
SUBSCRIPTION AGE 18-65 years 18-65 years 18-65 years 18-65 years 18-65 years 18-65 years 18-65 years