This document describes the details of a whole life insurance policy offered by CUNA Mutual, including: - Issue ages of 45-80, face amounts of $2000-$25,000, guaranteed issue with no health questions or exams. - Premiums are level and never increase, the policy matures at age 121. - Coverage ends at death, upon owner request, or non-payment of premiums by age 121. - Death benefits are limited in the first 2 years but full benefits are paid after 3 years and for accidental deaths. - The policy builds minimum cash value equal to the face amount at maturity. Policy loans can be taken against cash value after the first year.

1. 2019 Relaunch
CUNA Mutual
Guaranteed Acceptance Whole
Life Policy (GAWL)

2. *Issue Ages 45-80
*Face Amounts $2000 - $25,000 (Sold in $1000 increments)
NOTE: Washington state minimum $5000
*Guaranteed Issue – No health questions or medical exams

3. *Policy never expires as long as the premiums are paid
*Level Premium – Never increases
Note: Based on Age & Gender (NOT demographics)
*Policy matures at age 121
*Smoker/Non-smoker - not a factor

4. Applicants must live in the United States at time of purchase.
Policy stays in effect as long as premiums are paid no matter
where the insured lives after the policy is issued.

5. Coverage Ends –
1) Insured’s Death
2) Date that the owner request termination
3) Date the premium grace period ends without payment
4) Policy Anniversary on or next following the policy holders 121st birthday.

6. Death Benefits –
− For accidental deaths, full benefits are paid in all durations
− For non-accidental deaths in the first 2 years, benefits are limited to
110% of the premiums paid to provide coverage from the effective date
to the date of death
(Exception – the death benefit for suicide in the first 2 years is limited to
the return of premiums paid)
− For non-accidental deaths in year 3 and later, full benefits are paid.

7. Cash Value –
Policy builds minimum cash value
Note: Cash values are guaranteed at issue and accumulates over
time, equaling the face amount at maturity, (age 121).
A chart showing the accrued amount is included in the policy.

8. Policy Loans – the policy holder can borrow from the
cash value after the first policy year.
Note: 8% interest is applied to the policy and can eat up any remaining
cash value and terminate the policy if the loan is not paid back.
** Interest is 5% in Florida

9. Automatic Premium Loan Provision-
Should the insured miss a premium payment any accrued
cash value will be applied toward the missed payment
Complimentary Service – No Charge

10. Replacements – (continued)
1) Need to have existing coverage in place to be a
replacement. If a policy is in force without payment then
it is a replacement. If coverage is not in force without a
payment, then it’s not a replacement.
2) Period Consideration: Previous 4 months to next 13
months. Outside of this timeframe it is not a
replacement.

11. Claims –
Non-contestable since it is a guaranteed issue policy
Usually paid within 5-10 business days

12. Cash Surrender -The amount payable is equal to the cash value of the
policy; MINUS any outstanding loan balance and outstanding loan
interest.
Partial Surrender – Face Amount Reduction

13. Policy Increases- Not allowed. Additional coverage can
be obtained by applying for an additional policy.
Additional coverage will have own graded benefit
period.

14. Conversions –
Policy cannot be converted to another type of policy
whether another Whole Life product or a Term product.