Family Term Life Insurance
Affordable Life Insurance for Families
Family Term is life insurance for families that can help support your loved ones if you aren't there.
Get to know Family Term Life
Life Insurance for Families
Every family needs life insurance to help protect their future. Family Term life insurance may be just right for your family. For only one affordable monthly payment, you can cover two adults and all your children1 with term life insurance for an initial term of 10 or 20 years. Each adult is covered by life insurance throughout this time period, and each child is covered until age 25 while in force. The coverage extends as your family grows, covering children you have or adopt at a later date1.
How Family Term Life Insurance Works
Family Term provides life insurance for families and may be for you if you want affordable life insurance protection that lets you add additional children at a later date at no additional cost1. It can be a great solution for young or growing families.
Your Representative will help you choose the coverage amount, up to $500,0002. Each adult will choose a set amount of coverage2 and will have the option to convert to permanent insurance up to age 72, without any medical tests or proof of good health3.
In addition, each child will have $10,000 of coverage until age 25 while the policy is in force. At any time before that birthday, they will have the option to convert coverage to permanent insurance for the same face amount without any medical tests or proof of good health.
If either adult passes away4, all coverage continues on the surviving insured adult and on any eligible children with no additional premiums required.
Learn the difference
Family Term Vs. Whole Life Insurance
When you are learning about life insurance, you may hear a lot about Whole Life insurance. So how is Family Term insurance different?
When you purchase Whole Life insurance, you pay a set premium each month to secure permanent life insurance. Whole Life can build cash value you may be able to access later5. Unlike Family Term, each person needs to be covered by a separate policy. Whole Life insurance may be a more expensive option, but is worth considering if you want permanent insurance or the potential to build cash value down the road.
With our Family Term insurance, everyone in your family is covered under one policy. This can be more affordable life insurance for your family. Your monthly premium for Family Term is lower, because it is only locked in during the initial term6. If you want insurance that can build cash value, you can convert Family Term to Whole Life when you’re ready3.
Important Benefits
Option to Add More Children
When you have or adopt another child, simply contact your Representative to include your new addition on your Family Term policy at no additional charge1.
Premiums Don’t Increase
During the initial policy term, either 10 or 20 years, monthly premiums do not increase6.
Customize Your Coverage
Insurance Add-ons
Included Add-on
The following rider can be included at no additional cost:
If you are diagnosed with a terminal condition, you can receive a portion of your life insurance benefits7 while still living.
Optional Add-on
You can choose to add the following rider to your Family Term policy, for an additional fee, to enhance your coverage:
Prepare for the unexpected with this add-on. If you become disabled within the contractual terms of this rider, your monthly premiums will continue to be paid.
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