TA: GVUL
11-12-2023 | 04:49 AM
#174
Racketeer
Joined: Mar 2015
Posts: 13,327
Likes: 818
From: N60.4858 W149.9327
Sorry if I missed the answer to these questions that I have.
1. Do we have to go through a medical/underwriting process to get the GVUL?
2. I have the term life maxed out right now. I pay out of pocket to have more coverage on top of what is free from the company. Can I get covered to that same amount with the GVUL? Would that require underwriting if that option is available?
3. Is it possible to keep my full term plan and opt in to the GVUL too?
Thanks
1. Do we have to go through a medical/underwriting process to get the GVUL?
2. I have the term life maxed out right now. I pay out of pocket to have more coverage on top of what is free from the company. Can I get covered to that same amount with the GVUL? Would that require underwriting if that option is available?
3. Is it possible to keep my full term plan and opt in to the GVUL too?
Thanks
11-12-2023 | 06:28 AM
#175
Can’t find crew pickup
Joined: Jun 2021
Posts: 3,058
Likes: 200
Same I used GVUL and I also use the company optional life term (for now). I was interested in seeing if switching to GVUL would change the other additional term, but looks like no.
11-12-2023 | 08:11 AM
#177
Racketeer
Joined: Mar 2015
Posts: 13,327
Likes: 818
From: N60.4858 W149.9327
Definately, that's why I bought instead of build. Buyer beware though. Aircraft construction shouldn't be a side hobby. A meticulous attention to detail is required. Get a thorough prebuy inspection by an A&P intimately familiar with the specific type of exerimental aircraft. Zenith, Rans, Kitfox and Sonex make great kits. I am waiting on the JSX-2T to get off the ground, probably do a factory assist build in OSH.
Last edited by notEnuf; 11-12-2023 at 08:30 AM.
11-12-2023 | 12:00 PM
#178
Gets Weekends Off
Joined: May 2015
Posts: 7,292
Likes: 0
From: A350 Both
As I understand these things, your cash accumulation account is counted against the death payout. So if you have a $50,000 insurance policy, and $10,000 in the cash portion, that $10k counts as part of the $50K when your beneficiary gets paid. I would love to be told I am wrong on this.
11-12-2023 | 12:10 PM
#179
Gets Weekends Off
Joined: May 2015
Posts: 7,292
Likes: 0
From: A350 Both
11-12-2023 | 01:55 PM
#180
Roll’n Thunder
Joined: Oct 2009
Posts: 5,148
Likes: 562
From: Pilot
As I understand these things, your cash accumulation account is counted against the death payout. So if you have a $50,000 insurance policy, and $10,000 in the cash portion, that $10k counts as part of the $50K when your beneficiary gets paid. I would love to be told I am wrong on this.
