Death Benefit (provisions may vary by state)

SIWL:
– Full face death benefit – face amount plus any premiums paid after the date of death; if certificate is in grace period, past due premiums through the month of death will be deducted from the face amount before payment is made; any outstanding liens (with accrued interest) and loans (with accrued interest) will also be deducted

GDB:
– Graded death benefit – death benefit limited for first two years unless death is accidental
– 30% of face amount in first year
– 70% of face amount in second year
– Death benefit is 100% if death is accidental – accidental death provision not approved in Arkansas
– If certificate is in grace period, past due premiums through the month of death will be deducted; any outstanding liens (with accrued interest) and loans (with accrued interest) will also be deducted