Executive Critical Illness Insurance

Exclusive Product Offering to IDU, Inc.

Critical Illness Insurance pays a lump-sum benefit following the diagnosis of a critical illness, such as a heart attack, cancer or stroke. Benefits like these can help protect employees and their families from the financial challenges that can come as a result of a critical illness, allowing them to focus on what’s important – their healing.

Product Highlights

Aggregate limits of $50M and higher
Monthly issue limits of $250K+ per month
Policy Terms: 1 to 5 years
Benefit Periods: 12 to 120 months
Elimination Periods: 90 to 730 days
Own Occupation Definition of Disability
Waiver of Premium
Personal or third-party policy ownership
Benefits structured to mirror loan payments
Named beneficiary can be lender or collaterally assigned
Unemployment coverage
NO MEDICAL EXAMS REQUIRED!

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IDU Real Life Solution

Father & Son Business Ownership Transfer

David Smith, 71 years old, has decided to retire and sell 100% of his ownership to his son, Andrew Smith, 45 years old, a key person and executive at his company.

The Problem:

Since they are immediate family members, they were unable to obtain disability coverage through the domestic market for this non-traditional contractual loan agreement. The loan requires Andrew, the purchasing employee, to make monthly payments of $50,000 to David, the retiring owner, over the next 10 years. They have resolved this risk in case of death with a $6,000,000 life policy but are both still concerned about the remaining agreed upon payments being met if Andrew were to suffer a disabling event.

IDU Solution:

By acquiring a Loan Indemnification Policy from IDU, David and his son Andrew were able to solve this financial risk. This custom-tailored policy is designed to match the terms and the remaining loan payments needed to satisfy the financial obligation.

Monthly Benefit of $50,000
Total Aggregate Potential Policy Benefits of $6,000,000
120-Month Benefit Period
- Reducing to Match Loan Terms
5-Year Policy Term
90-day Elimination Period

IMPORTANT DISCLOSURE: This is not an exact description of coverage.

The benefits, limitations and/or exclusions described are for general illustration purposes only and may vary by state and client profile.