15, 20, 30 Year Term Life

Carrier Name:

USAble Life


Line of Coverage:

Term Life


Key Selling Features:

  • Guaranteed Renewable
  • Level Premiums
  • Waiver of Premium Benefit
  • Accelerated Death Benefit

Basic Product Overview:

Life insurance is a very important part of creating a sound financial plan. Term life insurance is the simplest to understand and the least expensive of all life insurance options. Term Life is an individual life insurance plan designed to cover an immediate need, yet offers guaranteed renewable coverage to age 80. Premiums are guaranteed and level throughout the life of the policy. At the beginning of each renewable period, premiums increase depending on your age, and remain level for each period.


Eligibility

Employee and Spouse Plan Issued Ages
10 Year Term 18 - 70
15 Year Term 18 - 65
20 Year Term 18 - 60
30 Year Term 18 - 50
Term to Age 80 18 - 70


Choice of Benefit Amounts

Increments of $5,000 up to $300,000


Premiums

Premiums are level. Rates depend upon amount of coverage, age, gender, tobacco usage and additional optional riders.


Waiver of Premium

Waiver of Premium is included at no extra cost through ages 18 – 55 and 18 – 50 for 30 Year Term.


Accelerated Benefits Provision

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


Guaranteed Renewable

Term Life is renewable up to age 80.


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 75th birthday. No evidence of insurability (good health) is required.


Optional Riders

Accidental Death Benefit:

  • Provides a benefit equal to the insurance amount of the basic policy
  • Includes a Common Carrier Benefit that pays a benefit equal to the Accidental Death Benefit
  • Issue Ages: 18-65 (terminates at age 70)
  • Common Carriers include airliner, train, bus, boat/ship, subway or streetcar.

Children’s Term Life Insurance:

  • Provides life insurance benefits to the insured’s children.
  • Level term insurance to each child’s age of 25.
  • Issue Ages: Children’s ages 15 days - 18 years
  • Conversion option up to 5 times face amount.

Family Term Life Insurance:

  • Provides life insurance benefits to both the insured’s spouse and children.
  • The spouse benefit is decreasing term life insurance.
  • The children’s benefit is level term insurance to the child’s age of 25.
  • Issue Ages: Spouse’s ages 18 – 64
    Children’s ages 15 days - 18 years

Return of Premium:

  • Applies to Term Life 15, 20 or 30 Year Term policies only.
  • Provides for payment at the end of the initial term period equal to the sum of the premiums paid during the initial term period for the policy and the Return of Premium Rider.
  • Includes waiver of premium. In the event the insured is disabled and premiums are waived, the Return of Premium rider remains in-force

Issue Ages:

Policy Non – Tobacco Tobacco
15 Year Term Ages 18 – 60 Ages 18 - 55
20 Year Term Ages 18 – 55 Ages 18 - 50
30 Year Term Ages 18 – 50 Ages 18 - 45

 


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.