The free life insurance payout is exactly how it sounds. It’s an added layer of protection at no extra cost and can grow up to $10,000. If an account holder were to pass away, the beneficiaries would receive their account funds plus the free life insurance payout. Best of all, it doesn’t require underwriting or a medical exam.
The way it works is simple. The more you save, the more life insurance you can earn! See how it’s calculated.
- Life insurance goes into effect 91 days after you open an eligible account.
- Account holders ages 18-64 can receive 10% free life insurance.
- Account holders ages 65-79 can receive 1% free life insurance.