Built-in Plan Features – Partner Buy-Out

With a host of standard features, you can be confident the Partner Buy-Out plan affords quality protection to provide funds to help facilitate a buy-sell agreement if you are disabled due to injury or sickness.

You choose when you want to receive the funds after the date you become disabled—from 12, 18, 24 or 36 months. You also select how you would like to receive the funds—monthly for a period of 24, 36 or 60 months; a one-time lump sum; or a combination of monthly and lump sum payments.

The Partner Buy-Out plan includes the following features:

• Waiver of premium – If you’ve been disabled for 90 days, we’ll refund the premium you’ve paid for this period and waive the premium while your disability continues.
• Legal/accounting fee – We’ll reimburse independent legal and accounting fees that you incur in performing the terms of the buy-sell agreement up to $5,000.
• Transplant surgery – If you become disabled from a surgical procedure in which you are the donor of a body part transplanted to another person, you will be covered if your policy has been in force for 6 months.
• Survivorship – If your benefit payments are monthly and you die while benefits are payable, we’ll pay a lump-sum benefit to the policy owner.
• Future purchase option – Provides the opportunity to purchase additional insurance regardless of changes in your health.
• Conversion – Under certain situations, you may apply to convert the policy to a disability insurance or office overhead expense plan without medical evidence.
• Transfer of insurability – You may apply for a similar policy with a new owner if your policy terminates because you stop working full time for the business. You won’t have to provide medical evidence.

Your policy will automatically renew each time you pay your premium until you turn age 65.

For more details about our Partner Buy-Out plan, see our At a Glance brochure or contact your financial security advisor.