Wysh Life Benefit Terms & Conditions

UNest Holdings, Inc. has purchased a blanket life insurance policy from Wysh Life and Health Insurance Company (“Wysh”) on behalf of its active, subscribing members who are in good standing. In the event of an insured member’s death while the policy is in effect, Wysh will pay your account a cash benefit as described below. The benefit is calculated as a percent of the three-month trailing average aggregate balance of an investor’s UTMA accounts, up to a $10,000 benefit per member. This percentage is defined as 10% for members under 65 years old, 1% for members ages 65 to 69 and 0% for members 70 years and older. UNest Crypto, LLC and gifting account balances are not included in the benefit calculation. For members who join after June 1, 2023, the benefit is activated 90 days after account opening. See details below:

Wysh Blanket Life Insurance Disclosure

What is Wysh Life Insurance? Wysh Life Insurance is a feature of Your account that UNest Holdings, Inc. (“UNest”) has purchased on Your behalf from Wysh Life and Health Insurance Company (“Wysh”). In the event of Your death while Wysh Life Insurance is in effect, Wysh will pay your account a cash benefit as described below. 

Who is covered? Wysh Life Benefit is provided automatically to owners of UNest core investment accounts (“You” or “Your”).  Coverage is provided on the life of the account owner. 

How much insurance is provided? Wysh Life Benefit is calculated as a percentage, set by UNest, multiplied by the three-month trailing average balance of Your account.

When does my coverage become effective and when does it terminate? Your coverage becomes effective 90 days after you open an eligible account.  In some instances, UNest may elect to waive the 90-day waiting period.  If You are uncertain, please ask a UNest representative.  Your coverage will terminate on the earliest of: (i) Your death, (ii) closure of Your account, or (iii) termination of the policy.

Who receives the benefit? The Wysh Life Insurance Benefit is paid directly to Your UNest account. When the designated beneficiary of a UNest account accesses the account, the available balance will include the Life Insurance Benefit after documentation of Your death has been validated.

When must notice of my death be given to UNest? To receive the Wysh Life Benefit, notice of Your death must be given to UNest within six (6) months following the date of Your death.  If the Wysh Life Benefit coverage on Your account terminates and You die before the termination date, notice of Your death must be given to UNest within three (3) months of the termination of coverage.

What documents are required to receive the benefit? When UNest is notified of Your death, UNest will request supporting documentation – such as a death certificate.  Once the requested documentation has been validated, the benefit will be paid to Your account and be made available to the account beneficiary.

What is not covered? Wysh Life Benefit pays the covered amount upon Your death, without any exclusions for the manner of Your death. However, the benefit is not payable in two circumstances:

  • If any owner of the account is not a natural person – such as a partnership or a company.
  • If any portion of the deposits were provided to the account owner (i) by a person other than the account owner’s spouse, parent, or child, or (ii) under any agreement or arrangement by which the person providing the funds to the account owner will be the direct or indirect beneficiary of the account.

What else should I know? This document is descriptive only.  Actual coverage is subject to the language of the policy issued to UNest. Please read this document and keep it in a safe place with your other insurance documents. This description of coverage is not a contract of insurance but is a summary of the principal provisions of the insurance while in effect.  Insurance under the policy is void if You or a beneficiary of Your account has intentionally concealed or misrepresented any material fact relating to the policy before or after a loss or a beneficiary of Your account files a false report of a loss. Wysh Life and Health Insurance Company, 720 E Wisconsin Avenue, Milwaukee, WI  53202 is the underwriter of the Insurance and is solely responsible for its administration and claims.  Policy number WLBP-03032023-289743.

Legal Actions: Your beneficiaries cannot bring a lawsuit to recover benefits (i) before the expiration of 60 days after notice of Your death has been submitted to Wysh or (ii) any later than six years after notice of Your death is submitted to Wysh, in either case, in accordance with the terms of the policy.

What if I have other questions? Please see the Wysh Life Benefit information page at www.wysh.com


Last updated: June 1, 2023