When you purchased a youth term life policy from WoodmenLife, you made a good decision to ensure your child is protected with life insurance. However, as your life changes, your life insurance needs can too. We’re here for you every step of the way.
With your youth term life policy, you have the option to convert it to a permanent policy. Converting your youth term policy can allow you to extend your life insurance coverage through a permanent policy without undergoing medical tests or proof of insurability1. WoodmenLife is now offering conversion to permanent coverage for up to five times of the face value of your youth life term policy until May 31, 20252.
Learn more about the difference between term life, whole life and universal life so you can make the right decision for your family’s financial future.
Fill out the form and your WoodmenLife Representative will contact you and help you determine what is best for your family.
Do you want peace of mind knowing your family will always be financially protected?
Do you want the potential to build cash value that you can access when you need it most3?
Do you want long-term coverage, regardless of age or health?
Disclosures
The new certificate will be in the same rating class as the current certificate, if available, or if not available the most similar rating class available. For insureds that are ages 18 and over, in order to qualify for nontobacco rates, proof, acceptable to WoodmenLife, of status as a nontobacco user must be submitted. Any additional benefit riders attached to this certificate will not be included on the new certificate unless we receive evidence of insurability satisfactory to WoodmenLife.
Youth term certificates can be converted to permanent insurance for the current face amount or less at any time before the final contractual conversion date. Within 60 days of the final conversion date, they can be converted to permanent for up to 5 times the face amount. Until May 31, 2025, WoodmenLife is offering to convert your youth term certificate for up to 5 times the face amount of your youth term certificate in lieu of waiting until 60 days of your final conversion date.
Loans and withdrawals will reduce the policy’s death benefit and available cash value. Loans against the cash value will accrue interest. Excessive loans or withdrawals may cause the policy to lapse. A loan, withdrawal or surrender may be a taxable event. If you are under age 59½ at the time of any withdrawal a 10% IRS penalty tax may apply. For advice consult with your professional tax advisor. For Indexed Universal Life policies certain charges will not reduce when decreasing the face amount of insurance or after taking withdrawals from the policy.
Products not available in New York and all products may not be available in all states.
The No Lapse Universal Life product generally does not build cash value, but offers lower premium rates and guarantees an individual’s life insurance coverage through a certain age.
These certificates have exceptions, limitations and restrictions. For cost and complete details in coverage, contact your WoodmenLife Representative. Forms: ICC10 8205 3-10, 8205 3-10 (XX), O-8205 3-10 (XX), ICC17 8678 1-17; 8678 1-17 (XX), ICC17 8679 1-17; 8679 1-17 (XX), ICC18 8730 4-18, 8730 4-18 (XX).
This is a solicitation of insurance and an agent may contact you
LP3 R-3/25
