The Sentinel Life New Vantage product offers some of the most competitive whole life premiums on the market. Adding the Sentinel Life New Vantage to your portfolio will help you serve lower-income seniors who typically believe that whole life insurance is too expensive for them. And with more than 60 years successfully serving its customers, you and your customers can be assured of Sentinel's Life stability and excellent customer service.

 

The Sentinel Life New Vantage plans are whole life insurance products designed to help cover final expenses such as the costs associated with funeral and burial expenses. The average funeral costs over $7,000 and can create a significant burden for loved ones.

 

All Sentinel Life New Vantage plans provide guaranteed and level premiums and use a simplified application and underwriting process.

 

Each plan provides a different death benefit depending on the health of the applicant which allows us to offer coverage to those who would otherwise be declined. The death benefits are as follows:

 

Sentinel Life New Vantage I - the death benefit is equal to the full face amount stated in the policy.

 

Sentinel Life New Vantage II - the death benefit is graded over the first three policy years. The death benefit is 30% of the face amount in year one; 70% of the face amount in year two; 100% of the face amount in year three and thereafter. During the first two policy years the death benefit is 100%of the face amount in the event of accidental death.

 

Sentinel Life New Vantage III - the death benefit is modified for the first two policy years. The death benefit in the first two years is equal to the amount of premiums paid plus 10% annual interest and 100% of the face amount in year three and thereafter. During the first two policy years the death benefit is 100% of the face amount in the event of accidental death.

 

The New Vantage plans are designed for:

 

* Applicants who desire coverage for final expenses and who do not want to go through the hassles of full underwriting.

 

* Applicants who have previously been declined for coverage with another carrier may qualify for on of the three plans.

 

* Applicants who are hard to place.

 

Available Riders (New Vantage I Only)

 

Waiver of Premium Rider (WOP) - This benefit is available for issue ages 15 through 55. The rider expires on the policy anniversary following the Insured's 60th birthday or the end of the premium paying period of the base policy, whichever occurs first. The rider provides for the waiver of the policy premiums if the Insured becomes totally and permanently disabled. Disability is considered total and permanent if the Insured sustains an injury or suffers an illness which prevents them from performing any employment for which they are qualified. The Insured must be continuously disabled for six consecutive months before a claim can be filed.

 

Accidental Death Rider (ADR) - This benefit is available for issue ages 0 through 60. The rider expires on the policy anniversary following the Insured's 65th birthday or the end of the premium paying period for the base policy, whichever occurs first. The benefit will be paid if death results, directly and independently of all other causes, from accidental bodily injury. Death must occur within 120 days from the date of injury. No Accidental Death benefit will be paid if death results from involvement in armed conflict, suicide, while committing a felony, operating or riding in an aircraft as a crew member, or voluntarily descending from any aircraft while in flight. The rate per thousand is $1.25.

 

Children's Protection Rider (CPR) - Each unit provides $1,000 of term insurance on each insured child over the age of 15 days. Coverage expires on the earliest of the following dates:

 

* The policy anniversary following a child's 25th birthday.

 

* The policy anniversary following the insured parent's 65th birthday.

 

* The end of the premium paying period for the insured parent.

 

Dependent children may be included on the application provided they have not reached their 18th birthday. Only natural children, step-children, and legally adopted children can be listed as applicants. Children born to the insured parent after issue of the policy are automatically covered after they are 15 days old. The minimum size is 1/2 of a unit and the maximum is five units, or the parent's coverage, whichever is less. The annual premium per unit is $10.

 

Upon the death of the insured parent, each insured child's coverage becomes paid up to the expiry date. During the insured period, a child's coverage may be converted, without evidence of insurability, to a permanent plan of insurance currently being offered for an amount not exceeding the amount of existing coverage. If the conversion is made on the date of expiry, the conversion can be made for an amount up to five times that provided by the rider.

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