Provides an additional 1% death benefit above the base policy face amount
Trans World Assurance has released its New Charitable Benefit Rider that is available with the company’s future first universal life insurance policy. The rider will provide an additional 1% death benefit above the base policy face amount.
The Charitable Benefit Rider adds no additional cost to the policy. It does not increase the premium, reduce the cash values or cause a reduction in death benefit.
The selected charity must be qualified under current tax law. Trans World’s agents will be ready to help and assist the insured to select the charity that might be most meaningful to them.
A spokesman of Trans World said: Buying life insurance is a way of doing something for others. You will be leaving a legacy for your family as well as those causes that are important to you. The policyholder will have the right to select the charity to target those they feel most strongly about. There are many charities that might strike close to home. Military members will be aware of comrades that have experienced some type of disability. By targeting charities that support the benefits for these servicemen, our policyholders will be giving a very special gift indeed.