Term-100 is a form of permanent insurance that could be described as a stripped-down whole life policy. The premiums for term-100 are somewhat lower than premiums for a comparable whole life policy, for the following reasons:
A term-100 policy typically has no cash surrender values.
A term-100 policy either does not offer any non-forfeiture benefits or offers Substantially reduced non-forfeiture benefits.
If the term-100 policy is cancelled or allowed to lapse, the insurance company keeps all or most of the policy reserves.
The amount of coverage and the policy premiums remain level for the life of the policy. Usually, the policy will either endow (the face amount is paid out as a living benefit) or go paid up (the face amount of coverage is maintained, but no further premiums are payable) once the life insured reaches age 100.
Although technically a "term" product, term-100 is treated as a form of whole life insurance, since few lives insured would ever outlive age 100. As such, the plan is most appropriately used to cover permanent needs, where the amount of insurance required is not likely to change and where non-forfeiture benefits are not expected to be needed.
Our no medical Term 100 plans start at $50,000 to $150,000. Our regular plans can go up to $5,000,000.
CLICK HERE FOR NO MEDICAL TERM LIFE INSURANCE QUOTE
CLICK HERE FOR REGULAR TERM LIFE INSURANCE QUOTE
If you would like more information about setting up a new policy, reviewing your existing policy or increasing your insurance needs, please use our online form to submit your request and a representative will get back with you very shortly.
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