Protective: Recent Enhancement to ExtendCare Rider


Protective is excited to announce they have redesigned their chronic illness rider to help you offer clients an even stronger life insurance solution. Protective Life’s enhanced ExtendCare rider now defines chronic illness as a 90-day loss of Activities of Daily Living (ADL).¹  Previously, the definition was 12 months. This enhancement allows your clients to address the financial burden a chronic illness could cause more quickly.

Other great features of the ExtendCare Rider include:

  • Indemnity Model.  Receipts are not needed. The benefit may be used for medical or non-medical reasons.  Care may be given by a licensed caretaker or family member
  • Chares Waived While On Claim. The policy owner will not need to pay premiums or policy expenses while on claim.
  • No Health License or Additional CE Required.  ExtendCare Rider does not require separate licensing or continuing education to sell it.
  • Permanent Waiver. Premiums and policy expenses are permanently waived with the third consecutive chronic illness certification.  If a client recovers before exhausting the death benefit, the remainder will stay inforce for the rest of the client's life. (Unless withdrawals or loans have been taken on the policy.)
  • Custom Monthly Benefit. The rider allows clients to choose a maximum monthly benefit up to 5% of the base policy's death benefit.(Not to eceed the current per diem equivalent.) At time of claim, the client can specify the monthly benefit they wish to receive, up to the original specified amount.

Transition Rules:

  • For Paper business: applications must be signed and received on or before November 2, 2020
  • For ticket business: applications must be signed and received on or before November 16, 2020
  • Any application un underwriting on October 19, 2020 may choose between the old and new version of the rider but will retain rates they are initially quoted unless otherwise requested up until the case has been approved.
    • For those selecting the new version of the product, the policy effective date must be October 19, 2020 or later and an amendment to the application (signed and dated October 19, 2020 or later) will be required.

Please give us a call at 1-800-792-6795 if you have questions or if you'd like to see illustrations.

¹As certified by a licensed physician. Protective Life defines chronic illness as unable to perform at least two of the six ADL's (bathing, dressing, toileting, transferring, continence, eating) without assistance for 90 days, or requiring substantial supervision for protection against health and safety threats due to severe cognitive impairment.