10 Year Term Life

Carrier Name:

USAble Life

Line of Coverage:

10 Year Term Life

Key Selling Features:

  • Guaranteed Renewable
  • Level Premiums
  • Waiver of Premium Benefit

Basic Product Overview:

10 Year Term Life is an individual life insurance plan designed to cover an immediate need, yet offers guaranteed renewable coverage to age 75. It is available to individuals and their spouses whose employer has sponsored the plan and has provided for premium payments to be made through payroll deduction. Premiums are guaranteed and are level throughout the life of the policy. In the 11th year and at the beginning of each ten year period thereafter, benefits decrease depending upon your age, and remain level for each ten year period.

Eligibility

Subject to approval of an application, including medical history, all full-time employees ages 18 through 64 on their last birthday.

Choice of Benefit Amounts

$10,000; $20,000; $40,000; $60,000; $80,000; $100,000

Premiums

Premiums are level. Premiums depend upon amount of coverage, age, gender and tobacco use.

Waiver of Premium

Waiver of Premium is included at no extra cost through age 59. If you become disabled before age 60 and remain disabled for at least six months, premiums are waived during your continued disability.

Accelerated Benefits Provision

If you are diagnosed as terminally ill, up to 50% of your 10 Year Term Life benefit amount in-force may be paid to you as a lump sum.

Guaranteed Renewable

10 year term is guaranteed renewable to age 75.

Convertible

As long as premiums are not being waived, you may convert to a whole life insurance policy on or before the policy anniversary following your 65th birthday. No evidence of insurability (good health) is required.

Advantages and Strengths of Implementing this Product with our company over our competitors: USAble Life brings extensive knowledge on the products that serve the worksite market. We offer highly competitive products and rates with personalized one-on-one enrollments. Our web site is user friendly. We recently introduced a new incentive, called LifeLine, which allows employers to track claims through our web site.

DISCLAIMER: This is a brief description of the products offered by USAble Life. These descriptions are for informational purposes only. Products and provisions described may not be available in all states. Specific provisions may vary by state. The policy contains a complete description of benefits, provisions, limitations and exclusions. In the event of a conflict between this description and the policy, the policy will prevail.