Whole Life Insurance Accelerated Benefit Summary and Disclosure Notice Accelerated Benefit Summary and Disclosure Notice be restricted to the excess of the cash value over the sum of the THIS DOCUMENT SERVES ONLY AS A SUMMARY AND A DISCLOSURE amount accelerated and any premiums paid by us and any other NOTICE. PLEASE REFER TO YOUR POLICY OR RIDER FOR ACTUAL outstanding policy loans. CONTRACT PROVISIONS. • Any outstanding loan, including interest will not be deducted from the Accelerated Benefit payment. THE POLICY/RIDER PROVIDES AN ACCELERATED BENEFIT OPTION. • This Accelerated Benefit will be treated as a lien against the YOU SHOULD CONSULT WITH A PERSONAL TAX ADVISOR IF YOU ARE death benefit and applied at time of death. CONSIDERING ELECTING PAYMENT UNDER AN ACCELERATED BENEFIT PROVISION. BENEFITS AS SPECIFIED IN THE POLICY/RIDER WILL BE Accelerated Benefit for Critical Illness (optional rider) Prior to the payment REDUCED UPON RECEIPT OF AN ACCELERATED BENEFIT PAYMENT. of any Accelerated Benefit, the Insured must have a Critical Illness, which RECEIPT OF ACCELERATED BENEFIT PAYMENTS: 1) MAY BE TAXABLE; 2) means a Heart Attack, Permanent Damage Due To A Stroke, Invasive Cancer, MAY AFFECT YOUR ELIGIBILITY FOR BENEFITS UNDER STATE OR FEDERAL Major Organ Failure, or End State Renal Failure for which an Occurrence LAW; AND, 3) DO NOT AND ARE NOT INTENDED TO QUALIFY AS LONG- Date is confirmed by a Physician. The maximum payable is the lesser of 25% TERM CARE INSURANCE. of the Eligible Proceeds, or $50,000 if you are under age 65; or 15% of the The policy and/or rider you are applying for has an Accelerated Benefit eligible proceeds, or $25,000 if you are age 65 or older. Premium is required provision. The provision allows a portion of the death benefits to be to keep this rider in force. advanced if certain conditions are met. Please see policy/rider for Accelerated Benefit for Long Term Illness (optional rider) conditions and definitions, as applicable. Prior to the payment of any Accelerated Benefit, the following conditions Prior to the payment of any Accelerated Benefit, the Insured must have must be met: a Long Term Illness, which means the Insured has been certified within • The maximum Accelerated Benefit varies by policy/rider (see the last 12 months by a Licensed Health Care Practitioner as permanently specific information below) and shall not exceed the Benefit unable to perform, without Substantial Assistance from another individual, Amount for the policy shown on the Policy Schedule. at least two out of five Activities of Daily Living for a period of at least • Only one Accelerated Benefit election will be made under the 90 days due to a loss of functional capacity; or requiring Substantial policy and/or each rider even if the Owner does not elect the Supervision due to permanent Severe Cognitive Impairment. The full acceleration amount. maximum payable is the lesser of 50% of the Eligible Proceeds available at • If two or more Accelerated Benefits are payable on behalf of the the time of claim payable in two equal annual payments up to a maximum Insured/Covered Person under the policy or any attached riders of 25% of the Eligible Proceeds per year for two consecutive years; or for the same or related sickness, injury or loss, benefits will be $100,000 payable in two equal annual payments up to a maximum of paid in the following order: $50,000 per year for two consecutive years. Premium is required to keep 1) Accelerated Benefit for Critical Illness, if this optional rider is this rider in force. attached to the policy; Payment of an Accelerated Benefit for Long Term Illness, if elected and/or 2) Accelerated Benefit for Long Term Illness, if this optional rider Critical Illness, if elected, will have the following effect on your contract: is attached to the policy; and • Upon payment of the Accelerated Benefit, the rider will terminate 3) Accelerated Benefit for Terminal Condition. and no additional benefits will be due under the rider, even for • Additional limitations and exclusions may apply, please read recurrence. The policy will remain in force and premiums will your policy/rider carefully. continue to be billed and payable as due. Upon request to accelerate the policy/rider proceeds, and upon • Policy proceeds which are payable on the death of the Insured will the payment of the accelerated benefit, the Owner and any be reduced by the amount of the Accelerated Benefit. irrevocable beneficiary shall be given a statement demonstrating • Cash values, if any, will continue to accumulate as specified in your the effect of the acceleration on the payment of policy proceeds, policy or rider. The cash values will be adjusted proportionally by cash value, death benefit, premium, and policy loans, as the percent accelerated. applicable. • Any outstanding policy loan, including interest, will be proportionally reduced by the percent accelerated and will be Accelerated Benefit for Terminal Condition deducted from the Accelerated Benefit payment. Prior to the payment of any Accelerated Benefit, the Insured/Covered • The Accelerated Benefit will reduce the Benefit Amount and Person must have a Terminal Condition, defined as an imminent death will be applied immediately upon acceleration. ICC18 DN111 expected as a result of a non-correctable medical condition that with reasonable medical certainty will result in a drastically limited life span of This brochure does not constitute the full policy and is intended to provide the Insured/Covered Person of 12 months or less. The maximum payable basic information about American Fidelity Assurance Company’s Whole Life is the lesser of: 50% of the eligible proceeds as defined in the policy/rider, Insurance product, ICC14 WL14 / WL14 series. For specific details, limitations or $100,000. There is no premium associated with this provision. and exclusions, please consult a complete policy, riders, and its provisions. Payment of an Accelerated Benefit, if elected, will have the following Please consult your tax advisor for your specific situation. This policy is not effect on your contract: eligible under Section 125. • Upon payment of the Accelerated Benefit, the policy/rider will remain in force. Any premiums due to keep the policy/rider in We will not pay the policy proceeds if the insured commits suicide, while force will be paid by us, and will be deducted from the policy sane or insane for the period of time as described in the insured’s policy, proceeds upon death, unless you are currently exercising the from the Effective date. Instead, we will return all premiums paid. Automatic Premium Loan option. If you are currently exercising the Automatic Premium Loan option, any premiums will continue to be paid under this option, until such time as this option is exhausted or discontinued. • Policy proceeds which are payable on the death of the Insured/Covered Person will be reduced by the amount of the American Fidelity Assurance Company Accelerated Benefit, any outstanding policy loans, and any americanfidelity.com premiums paid by us on your behalf. • Cash values, if any, will continue to accumulate as specified in your policy or rider. Access to the policy cash value may AF-2230(Education)-0523 051-144, 051-145