Home   Type of Insurance    Insurance Quote    Agents Listed

Term Products

TYPES OF LEVEL DEATH BENEFIT TERM products. (this is not an advertisement of any company products but only a general idea of types of term products that may be available from different Insurance Companies) Contact one of the agents listed for a State Approved (Company Brochure from the Companies the agents listed represent) and total disclosure of the type of Term Products they sell.

20 year Level Term

  • 20 year level death benefit

  • 20 year premium guarantee means (premium cannot increase for the 20 years and will remain the same amount)

  • Does the 20 year Term Product have a 20 year premium guarantee?  If not check how many years the premiums are guaranteed (premiums are projected to remain level for the period using current projections and are not guaranteed for the full 20 years but are only guaranteed for ?? years.  (??= how many years the level premiums are guaranteed for. (ask the question and read the material or get a print out of the product showing this information)

  • Accelerated Benefit (Terminal Illness Rider) - (No cost for this Rider) (Some companies do not offer Accelerated Benefit rider on Term).

  • Conversion of the term policy to a Whole Life policy should be offered.  Check out if you can convert this policy and what is the Age limit to convert.  

  • Conversion credit - If you decide to convert to a Whole Life Plan does the Term Product you are purchasing offer a Conversion Credit? 

  • Tobacco, Non-Tobacco, Preferred and Super Preferred Rates (super preferred rates  and preferred rates are only available for amounts of $100,000 and above with many companies and some are $150,000 and above.  Ask if you can qualify for a Preferred or Super Preferred Rate.

  • Underwriting is different with each company.  On general rule is most all companies run a check through MIB as soon as they start underwriting the case.  See MIB consumer information on our HOME PAGE to find out more about what MIB reports and keeps in their files.  There are companies that do not require any Para Medical, Blood Test, Salvia Testing, or Lab Work and only use MIB report to make a decision about the risk involved.  They usually will issue Term Products up to amounts from $100,000 to 250,000 non medical for ages up 60 years to 70 years based on the company policy.  Check with your Agent to get this information.  Agents listed on the Web Site can help you.

30 Year Level Term

  • All the above applies (20 Yr Level Term) to the 30 Year Level Term except the number of years of the Level Benefit.

10 Year Level Term

  • All the above (20 Yr Level Term) applies to the 10 Year Level Term except the number of years of Level Benefit.

There are other Term Products available also,

 

Annual Renewable Term - Death Benefit remains Level but Premiums Increase Every Year.

5 Year Renewable Term - Death Benefit remains Level but Premiums Increase Every 5 Years.

10 Year Renewable Term - Death Benefit remains Level but this policy is guaranteed renewable each 10 years with a Increase in Premiums up to a certain age according to the product of that company.

Decreasing Term - The premiums remain Level but the Death Benefit Decreases each year based on the number of years of the policy.

 

Questions about all type of Term Products should be addressed to the Agent and/or Insurance Company.  You can get all the information you need from one of the Agents Listed on this Website.

 

Top Of Page