Privileged Choice® Flex 3 has the following Benefit.
Refund of Premium up to Age 65 — If the policyholder dies before age 65, their policy is in-force, and their policy is not being continued under any Non-forfeiture Option, premium they have paid over the lifetime of their policy will be refunded to their beneficiary less any claims paid.
Beneficiary Designation forms are available for use with this product.
- For states other than NY: 37749 03/07/16
- For NY: 37749NY 03/16/17
The Beneficiary Designation for is recommended by not required. It allows the Applicant to name a beneficiary so it is clear who should receive the refund if a refund of premium is warranted. If a refund of premium is warranted, and a completed form has not been received, the refund will be sent to the estate of the deceased insured/policyholder.
Beneficiary Designation for Long Term Care Insurance
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