Term Life Insurance Information
Why should I purchase Term Life Insurance?
Term insurance is one of the most affordable ways to provide protection for your family should you die unexpectedly. But what if you don't need the same level of insurance in 15 or 20 years - once the kids are grown, you reach retirement and your financial needs change? There is now a way to adjust your coverage so you're not paying for more insurance than you need in later years.
Term Life Insurance with Customized Protection: Life Insurance on your terms
Term Life Insurance with Customized Protection is affordable term coverage that gives you just the right amount of protection now... and throughout the time period you need it to work for you. It's personalized protection to fit your exact needs in one convenient policy. Term Life with Customized Protection:
- Provides affordable "one stop" protection to fit your family's needs and budget.
- Allows you to customize your policy to lower costs as your needs decline.
- Gives you the flexibility to add options to maximize coverage for your whole family.
It's all about getting the coverage you want... nothing more, nothing less. Life insurance on your terms - no matter what your needs might be.
Start with term period for base policy
With Term Life Insurance you can choose any length of time, or time period, that suits you - from 10 to 30 years for your base policy. Term Life Insurance allows you to select affordable coverage to fit your time frame - and not have to buy more than you need.
Protection that lowers your costs as needs decline
Term Life Insurance with Customized Protection lets you get the most out of your policy by adding targeted layers of protection that expire when they are no longer needed. It allows you to address a variety of financial needs in one policy which may provide significant savings when compared to a policy where the benefit doesn't change.
Term Life Insurance with Customized Protection can save you premium dollars over a level term policy.
Just the right protection... for the changing needs of life
- Builds in up to five layers of protection to cover a variety of shorter term finacial needs such as college, housing expenses, or income replacement.
- Select an individualized coverage amount and time period for each layer of protection, within a range of 10-20 years (or age 70 if earlier)
- Qualify for lowest possible rate for each layer of protection by bundling all coverage layers on the base policy.
Term Life Insurance with Customized Protection: $1,000,000 initial coverage
Although the death benefits can be used for any purpose, the chart below shows examples of what the layers could be used for.
By buying only the anticipated protection you'll need looking ahead, you have the potential to not be under-insured when your financial responsibilities are the largest, or over-insured as your financial responsibilities decrease.
Choose cost-effective options to maximize coverage
Term Life Insurance with Customized Protection offers extra features through "riders" that can enhance the flexibility of your policy.
- Coverage for the whole family. Your spouse can be insured as well as your children. Protection for the whole family-all under one policy- now that's the way to make the most of your life insurance budget.
- Disability Waiver. You can have policy premiums waived if you, the insured become totally disabled. That means more money that can be redirected to pay for other more pressing needs during the disability.
- Death benefit in advance. In the event of a terminal illness, this option can provide a financial cushion during a time of need when your funds may be low and your expenses high. This benefit is automatically available with each policy.
Is Term Life Insurance with Customized Protection right for you?
If you are looking for efficient, affordable coverage - that adjusts automatically to give you the amount of life insurance coverage you are looking for - Term Life Insurance with Customized Protection may be the insurance solution for you. While the death benefit can be used for any purpose, the following are some examples of various needs for which funds from the death benefit could be applied.
- Business Owner - need coverage for expenses such as business loans
- Corporate employee - want to supplement a group policy
- Self-employed - want a convenient way to cover multiple financial needs in one policy
Your need may be prompted by a life event including:
- Just recently married - want to provide income protection for a spouse
- Became a new parent - want to provide coverage for new dependents
- Bought a new home - want to pay housing expenses