Senior Life: Silver Guard® Whole Life Insurance

Expand All

Product Features

Senior Life: Silver Guard® Whole Life Insurance

The Silver Guard® Series products are simplified issue, whole life insurance policies designed for final expense needs. They are non-participating whole life policies that offer your client guaranteed premiums and death benefits. These products can be applied for using a traditional paper application with phone inspection or using Baltimore Life’s INSpeed® process, a paperless application system enrolling applicants via our call center.

Additional Product Specs

Senior Life: Silver Guard® Whole Life Insurance

Silver Guard® I

  • Guaranteed: level premium, level death benefit, cash and non-forfeiture values available
  • Life-Pay or 10-Pay
  • Non-tobacco and tobacco user rates
  • Premium rates are based on underwriting tables standard through table 4
  • Add Accidental Death Benefit Rider for increased coverage at minimal cost (Silver Guard I life pay only)
  • Available in all states except New York and Washington

Silver Guard® II

  • Graded death benefit: 25% of the policy face amount in year one of coverage; 50% of the policy face amount in year two of coverage; 100% of the policy face amount in year three of coverage and thereafter
  • The policy pays 100% of its face value in all policy years if death is due to an accident
  • Life-Pay only
  • Premium rates are based on underwriting tables 5 through 8
  • Available in all states except Massachusetts, Minnesota, Missouri, New York, North Carolina, South Carolina, Washington, and West Virginia

Issue Ages (age last birthday)
50 - 80

Face Amount Limits and Bands

Minimum
$2,500 minimum (Minimum premium for EFT of $20 monthly or $240 annually)
Maximum
Silver Guard® I:Ages 50-75 - $25,000 maximum; Ages 76-80 - $15,000 maximum
Silver Guard® II:$15,000 maximum

Policy Fee
$60, fully commissionable

Premium Modes

  • EFT Modes for Applications enrolled via INSpeed: Monthly, semi-annual, and annual
  • Paper Applications: Monthly Electronic Funds Transfer (EFT, Bank Draft), and direct bill modes Annual, Semi-Annual (SA), or Quarterly (Q)

Additional Benefits and Riders

  • Accidental Death Benefit for Silver Guard® I - Life Pay
  • $1,000 Cash Draft Benefit

Sample Rates

Senior Life: Silver Guard® Whole Life Insurance

Sample Rates for Silver Guard® Whole Life

$10,000 Face Amount, Silver Guard® I, Life Pay, Non-Tobacco
Monthly Bank Draft Premium

 Age 55Age 65Age 75
Male$39.60$60.30$104.40
Female$32.40$47.70$81.00

$10,000 Face Amount, Silver Guard® I, Life Pay, Tobacco
Monthly Bank Draft Premium

 Age 55Age 65Age 75
Male$52.20$81.00$149.40
Female$41.40$63.00$109.80

$10,000 Face Amount, Silver Guard® II, Life Pay, Non-Tobacco
Monthly Bank Draft Premium

 Age 55Age 65Age 75
Male$53.10$83.70$171.90
Female$45.45$73.80$119.70

For More Information