What benefits does term life insurance provide?
- Have the peace of mind knowing that your family's goals and standard of living will be protected.
- In the event you pass away, your loved ones will receive the life insurance proceeds income tax free.*
Living Benefits
- A terminal illness allows you the ability to request virtually all of the death benefit while you are living if you are diagnosed with a life expectancy of 12 months or less. The accelerated death benefit is received income tax free.* There are no restrictions on how you may use the proceeds.
- There is a guaranteed conversion privilege that allows you to exchange to a permanent insurance policy with no medical underwriting required.
* Based on current tax laws
Income Protection
- Term insurance is designed to provide coverage for a specified period of time.
- With level term insurance, the premium is level and guaranteed.
- Or, it can be annually renewable. With an annual renewable term policy the coverage remains level, but the premium increases each year. Initially, this is the least expensive term insurance but the cost increases annually.
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