Federated Life Insurance Response to Coronavirus

Notice to Term and Disability Policyholders

If you are a policyowner of a Term Life Insurance or Disability Income policy, we are extending our Grace Period from 30 to 60 days until June 23, 2020 (or later if required by your state).  If you do not make your premium payment by the due date, you will receive a Grace Period Notice that will say you have 30 days to make your payment.  If we don’t receive a payment by the due date of the Grace Period Notice, you will receive a Notice that says your policy has lapsed and you have 30 more days to make a payment without having to apply for reinstatement.  Even though this notice says your policy has lapsed, we will treat it as still in Grace Period.

If, before the date indicated, you pay the necessary unpaid premium payments due by then your policy will treated as if it had not lapsed.  If you die during the 60 day period, your coverage will be considered inforce for purposes of claims settlement.

However, if you do not make the payment necessary by the end of the 60 day period, your policy will lapse and coverage will end.  If you wish to reinstate the policy, you will need to submit a reinstatement application and pay all missed premiums.


Notice to Universal Life Policyholders

If you are a policyowner of a Universal Life policy, your policy already provides for a 61 day grace period that applies when your cash surrender value goes to zero.  If you have cash surrender value in your policy sufficient to cover the monthly expenses and fees associated with your policy, you can stop or reduce premium payments on a temporary basis without your policy going into Grace Period.  You should be aware, however, that this will impact the long-term performance of your policy.


Contact Information

If you would like to discuss premiums or if you have others questions, please contact us at 1‐800‐533‐0472, ext 725‐5087 or by email at lifeclientservicesup@fedins.com.

State-Specific Notices

This was last updated:  04-15-2020