Coming March 23, 2020 – Equimax enhancements include 60 months of flexibility to make extra deposits

The following features will be available on Equimax Estate Builder® and Equimax Wealth Accumulator® plans!   

60 months of Excelerator Deposit Option (EDO) flexibility

• Up to 60 months to make initial EDO payment or resume stopped or reduced payments. No additional underwriting required. 
• For approved EDO amounts exceeding $150,000 annually ($12,500 monthly), clients have up to 12 months from the date the EDO application was signed or the date of the last EDO payment to make an EDO payment before a contribution cap may apply.
• Available on all policies with an effective date of March 23, 2020 or later.

• If a policy already in effect has a rating over 200% and up to and including 300%, the owner can apply to add EDO provided the policy was issued under the 2017 tax rules.
• Additional underwriting and submission of satisfactory evidence may be required.

• If a life insured becomes disabled from a severe mental or physical impairment as defined in the policy contract, the owner may apply for a tax-free,* lump sum payment of up to 100% of the policy’s cash value.
• Exclusions apply. See sample policy contract for full details, including the qualifications for the disbursement.
• Available on all policy issued under the 2017 tax rules.

* Tax laws are subject to change. The payment of the disability benefit disbursement may affect the adjusted cost basis (ACB) of the policy as it is considered payment of a capital benefit. Changes in ACB can affect the future taxation of the policy.

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To make the transition as smooth as possible, please take a moment to review the following transition rules.