Term Insurance
Term insurance gives you protection for mortgages, income replacement, credit card debt, and educational expenses. This insurance is the most cost effective way to cover loved ones left behind. There are a variety of level term guaranteed premium plans. Term Insurance allows you to purchase large amounts of protection at attractive premium rates.
Additional Options and Riders
Premium Waiver Benefit – Allows insurance protection to continue, with no further premium payment required, if you become totally disabled for six months or more.
Children’s Term Insurance Rider – Covers all children age 15 days through 18 years. At age 25, each child may convert up to five times the coverage amount.
A Rider called the Accelerated Benefit Rider can be included and pays up to 50 percent of the death benefit to any insured who is diagnosed as being terminally ill and expected to die within 12 months of diagnosis.
Permanent Life Insurance
Unlike term, permanent life insurance builds a cash value that increases the longer the policy is in force and lasts your entire lifetime. Permanent needs can range from final expenses and funds to cover estate taxes or retirement savings protection. Whole life and universal life plans are ideally suited for meeting these goals.
There are two Universal Life products:
Asset Builder is a product designed to build cash value, and last your lifetime.
Non-Asset Builder is designed to last your lifetime.
Minimum policy size: $50,000 for each product
Issue ages: 15 days through age 85 for each plan
Additional Options and Riders
- Waiver of Deductions Disability Benefit Rider
- Guaranteed insurability Option Rider
- Children’s Term Rider
- Waiver of Specified Premium Disability Benefit Rider
- Guaranteed insurability Option Rider
- Children’s Term Rider
The Accelerated Benefit Rider is automatically included without cost. This rider pays up to 50 percent of the death benefit to any insured who is diagnosed as being terminally ill and expected to die within 12 months of diagnosis.