One key benefit of an Everdays funeral package is that after two years of completed payments, your family is fully covered (100%) should you pass before all premium payments have been made.
Please see the chart below for a policy payout breakdown by payment plan and the number of completed payments
# of Completed Monthly Payments | Single Pay | 3yr Plan | 5yr Plan | 7yr Plan | 10yr Plan |
1-6 Completed Payments | 100% of Policy | Amount paid x 1.05% | Amount paid x 1.05% | Amount paid x 1.05% | Amount paid x 1.05% |
7-12 Completed Payments | 50% of Policy | 35% of Policy | 35% of Policy | 35% of Policy | |
13-24 Completed Payments | 100% of Policy | 70% of Policy | 70% of Policy | 70% of Policy | |
24+ Completed Payments | 100% of Policy | 100% of Policy | 100% of Policy | 100% of Policy |
*For MI and VA only - Based on the current health of the purchaser, Homesteaders may issue a Certificate providing an immediate death benefit equal to the face amount.