About Our 4.0% Minimum Interest Rate Advance Premium Deposit Account
The Advance Premium Deposit (APD) account lets you save additional money for the future. You may deposit funds into an APD account to save for your child or grandchild, yourself, or to pay future premiums.
Your optional savings in the Advance Premium Deposit account can earn a minimum guaranteed interest rate of 4.0% per year. There is only a $5 minimum balance and never any account fees*.
The maximum APD account balance is $7,000 for each $10,000 of life insurance death benefit coverage. In other words, a $14,000 APD account for a $20,000 life insurance policy.
For example, if you have two $10,000 Youth Life Insurance Plan policies on two of your children or grandchildren, you could keep up to $14,000 in your Advance Premium Deposit (APD) account earning at least 4.0% interest. A Parent or Grandparent can link multiple children’s accounts conveniently into one APD account.
*Fees may be charged for special services requested by the APD account owner (e.g.: wire transfer requests).