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Frequently Asked Questions (FAQs) – Term Life Insurance witH Arbor Krest

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1. What is a Term Life Insurance Policy?

A Term Life Insurance policy provides life insurance coverage for a specified duration. Arbor Krest's Term Life Insurance offers level coverage for the selected term, with the option to exchange coverage or renew at increased premiums after the initial term period.

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2. What is the Face Amount?

The face amount is the amount of life insurance coverage purchased, which is paid to the beneficiaries upon the insured's death. This amount is listed in your policy documents.

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3. Who Can Be a Beneficiary?

A beneficiary is the person (or persons) designated to receive the death benefit. The policyholder names the beneficiary at the time of application, but this can be changed later by submitting a notice to Arbor Krest.

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4. Can I Change My Beneficiary?

Yes. As long as the insured is alive and the current beneficiary isn’t marked “irrevocable,” you may change the beneficiary by notifying Arbor Krest in writing.

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5. What Happens If My Beneficiary Dies Before Me?

If the primary beneficiary dies before the insured, the proceeds will go to any listed contingent beneficiary. If no contingent beneficiary is named or alive, the proceeds will go to the insured’s estate.

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6. How Are Premiums Structured?

Premiums are structured by policy year and age of the insured. The premiums may increase over time but will not exceed the maximum amounts stated in the policy. An annual $65 policy fee is included in the total premium cost.

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7. Can I Cancel My Policy?

Yes. You may cancel your policy at any time by providing written notice. Cancellation becomes effective at the end of the policy month, and any premiums paid beyond that point will be refunded.

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8. What is the Grace Period for Premium Payments?

You have a 31-day grace period after a premium due date to make your payment. During this time, your coverage remains in force without penalty or interest.

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9. What Happens if I Miss a Payment?

If payment is not made within the 31-day grace period, the policy will lapse and all coverage will end. However, you may apply for reinstatement within 3 years from the lapse date.

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10. Can I Reinstate My Policy After Lapse?

Yes. You may reinstate your policy within 3 years of the lapse date by:

• Providing evidence of insurability

• Paying either all missed premiums (Option 1) or one month's premium (Option 2)

Reinstating may result in a new issue date and updated premium based on your new age.

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11. Can I Exchange My Policy for Another Plan?

After five years, you can exchange your term life policy for:

• An Annual Increasing Premium Term Insurance to Age 100

• A Decreasing Term Insurance to Age 100

• Other available plans (subject to company approval)

No medical exams are required, and the exchange must be completed while the policy is active.

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12. Are There Any Exclusions?

Yes. If the insured dies by suicide within two years of the policy issue date, the policy will not pay the face amount. Instead, only premiums paid will be refunded.

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13. What Happens If the Insured's Age or Sex Is Incorrect on the Application?

If the age or sex was misstated, Arbor Krest will adjust the policy benefit to match what the paid premium would have purchased based on the correct information.

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14. What Is Required to File a Death Claim?

Beneficiaries must submit:

• A certified death certificate

• A completed claim form

• Authorization for Arbor Krest to access relevant records

Payment is made in a lump sum unless the beneficiary chooses otherwise.

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15. How Are Proceeds Paid?

By default, the death benefit is paid as a single lump sum. Alternatively, proceeds may be left on deposit with Arbor Krest to be paid with interest over time (up to 25 years).

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16. Will My Premiums Ever Increase?

Your premiums may increase after the initial level-premium term ends. Additionally, premiums may be adjusted if:

• Coverage amount changes

• A rider is added or removed

• You are reinstated with a new age
  However, increases will not exceed the maximum premium amounts listed in your policy.

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17. How Do I Contact Arbor Krest for Support?

•  Please use our contact form to answers directly about the policies purchased through us!

• For questions beyond what we are able to answer as agents you are always welcome to contact our parent Company Primerica  Phone: 1-800-257-4725