Term Life Insurance
Whether it’s protecting your loved ones from outstanding debt such as a mortgage, credit cards, or hospital bills, or covering an obligation such as tuition for a grandchild, term life insurance can help you.
Term is designed for people seeking a benefit of $100,000 or more. The “term” is a set period of time during which the policy premium and benefit amount never changes. Your beneficiary will receive the benefit upon your passing. Term policies do not accrue cash value.
Rates are medically underwritten and therefore a Paramed visit is required. This is a free and fast health check, lasting around 10 minutes, done by a nurse at your home.
The minimum benefit amount is $100,000 and the approximate monthly rates for a typical, healthy non-smoker are:
| Estimated Monthly Rates – $100,000 Benefit
(Average Healthy Non-Smoker) |
||||
|---|---|---|---|---|
| Age | Female | Male | ||
| 10 Year | 20 Year | 10 Year | 20 Year | |
| 60 | $43 | $60 | $51 | $81 |
| 65 | $62 | $110 | $83 | $142 |
| 70 | $95 | $212 | $137 | $235 |
| 75 | $166 | N/A | $241 | N/A |
| Must be under age 76 to qualify for coverage. | ||||
Note: People treated for cancer, depression, heart attack, or stroke within the last two years will not qualify for coverage. If diagnosed with diabetes, heart disease, or high cholesterol or blood pressure, you may not qualify; those who do will generally have premium rates 125% higher. Rates listed are for people who have not used any tobacco in at least 24 months. Coverage for tobacco users is generally 150% higher.