Term Life Insurance

Have you considered what you would do if you or a loved one die or became seriously ill? If an illness results in death, the financial burden on top of the loss of a loved one can often be devastating. 

Our Term Life plans are designed to offer budget-friendly life insurance coverage for a selected number of years to help your loved ones in the event of your death. This Term Life insurance policy has an optional Critical Illness Benefit that pays cash benefits for a qualifying critical illness.

With the optional Critical Illness Benefit, in the event of a serious illness, a cash benefit can be paid out to help with expenses. Medical bills are the last thing you want to worry about when you or a family member is sick. Medical treatments today are expensive, and families often experience financial hardship because of the many expenses their insurance does not cover.

For the Term Life Policy: You select a term (years of coverage) and benefit amount in case of death. All applicants must be between 18-49 years of age for the 20-year term life policy or between 18-59 years of age for the 10-year term life policy. You remain eligible for coverage until your 75th birthday.

If you choose to purchase the optional Critical Illness Benefit:

• The Maximum Lifetime Benefit Amount is available if you’re diagnosed with a qualifying critical illness, see the second table.
• A 30-day waiting period applies for a qualifying diagnosis to be eligible for the Critical Illness Benefit.
• Receive a one-time benefit for a qualifying illness. Total benefits paid cannot exceed 100% of the Maximum Lifetime Benefit Amount.
• Any Critical Illness Benefit payment will be subtracted from the Term Life insurance benefit amount resulting in a lower  

Death Benefit - We will pay the Term Life Benefit (less any Critical Illness Benefit paid) to the designated beneficiary at the time of your death. Written proof of death must be furnished to us within 90 days from the insured’s date of death or as soon as reasonably possible.

Assignment - You may assign your policy while you are alive.

Beneficiary - You can name any person or persons, other than your employer, as a beneficiary. You can change the beneficiary at any time, subject to the terms of your policy and the laws of your state.

Renewal Provision - At the end of the policy term (10 years or 20 years), you may continue coverage until your 75th birthday on a year-by-year basis. Evidence of insurability is not required; however your premium rates will increase each year.

Term Life Insurance Exclusions and Limitations

We will not pay a death benefit caused by any of the following:

• Suicide, while sane or insane, within 2 years from the effective date.
• The insured driving while intoxicated or under the influence of illegal narcotics or controlled substance as defined by applicable state law in the state in which the death occurred.
• Any act of declared or undeclared war.
• The insured taking part in a riot.
• The insured’s commission of a felony, whether or not charged.
• Participating or instructing in (while being paid to do so): horseback riding, racing or speed testing any non-motorized vehicle/conveyance, skiing, rodeo sports, or rock or mountain climbing.
• Participating, demonstrating, instructing, guiding, or accompanying others in: sports (semi- or professional or intercollegiate not including intramural sports), parachute jumping, hang gliding, skydiving, bungee jumping, racing or speed testing any motorized vehicle/conveyance, or scuba/ skin diving (60 or more feet in depth).
• Operating, riding in, or descending from any type of non-commercial aircraft if the insured is a pilot, officer, or member of the crew of such aircraft or is giving or receiving any kind of training or instructions or otherwise has any duties that require him or her to be aboard the aircraft.

After you have decided which kind of life insurance is best for you, compare similar policies from different companies to find which one is likely to give you the best value for your money. A simple comparison of the premiums is not enough. There are other things to consider. For example:

• Do premiums or benefits vary from year to year?
• How much do the benefits build up in the policy?
• What part of the premiums or benefits is not guaranteed?
• What is the effect of interest on money paid and received at different times on the policy?

Remember that no one company offers the lowest cost at all ages for all kinds and amounts of insurance.

Find Term life insurance that's competitive, quick to set up, and easy to understand.