PDA is now available for SecureCare

The Premium Deposit Account Agreement (PDA) is now available to add to our SecureCare^™ product line. Your SecureCare clients can now simplify their premium payments with this new optional agreement.

By adding the PDA to their existing SecureCare policy, clients can fund their multi-pay policy with a single lump-sum payment into the account, which will then automatically pay their remaining annual premiums. Plus, the amount deposited into the PDA will earn interest at a fixed rate, which means the amount clients need to deposit in the PDA will be less than their total remaining premiums.

This is a great option for clients with multi-pay policies who want to “set it and forget it.”

Important notes

• The PDA is available to add to in-force SecureCare policies only. The PDA cannot be added at issue. The policy must be in-force with at least one premium payment made and the policy must have at least two premium payments remaining. Only one PDA is allowed per policy.
• The PDA is available to add to SecureCare III (long-term care and nonparticipating whole life) in all states except Kansas and Pennsylvania. SecureCare III is not available in California or New York.
• The PDA is available to add to SecureCare Universal Life (UL) policies in all states except Kansas, Missouri, Montana, New Mexico and Pennsylvania. SecureCare UL is currently only being sold in California.
• The amount deposited into the PDA, plus applicable interest, must cover all remaining premiums in the policy.
• Interest rate is guaranteed at the time of deposit and may vary by state.