What is the CTB and when does it expire?
Clients can add the CTB to their plan to provide life insurance for their child/children until a certain age. It protects children named on the application, as well as children born to or adopted by the insured after the policy is issued. This includes stepchildren in some cases.
The child and insured threshold ages vary depending on the product and company of issue. Commonly, the child’s protection is in place until they’re 25 or the insured is 65 or 70. See the policy information for benefit specifics.
Action required! You need to regularly review this benefit with Clients. Otherwise, they may continue paying for it as part of their premium when they or their children have surpassed the eligible age threshold.
Contact Clients, especially those with children near or past the age threshold of the CTB, to determine if they:
- still need coverage
- need to convert the coverage to a standalone plan for eligible children
- need to cancel the benefit
- to cancel the CTB, complete Form 87 – Application for change to an existing life insurance policy
How can reviewing the CTB help you grow your business?
The CTB provides peace of mind and protection for Clients and their families. Staying close to Clients’ needs allows you to start conversations and uncover new opportunities. Once a Client's child has reached adulthood, you have an opportunity to forge a new relationship and offer your advice and expertise to a potential new Client.
For more information about the CTB on various plans, visit the product areas on Suncentral:
- Participating insurance
- Permanent insurance
- Term insurance
- SunUniversalLife II
- Products no longer sold
Questions?
- For general questions, call 1-800-800-4SUN (786)
- For policy specific questions use Benefit – cancel attached inquire
