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Term life insurance is a popular form of coverage that allows you to purchase large amounts of protection at attractive premium rates. Term insurance is ideal for protecting a mortgage, providing replacement income or funding college for a child in the event of a premature death.
Erie Family Life’s term coverage provides coverage to age 95. The face amount of the policy remains level and the policyowner can select from a 10, 15, 20 or 30-year guaranteed level premium period.
A return of premium rider is also available on the 15, 20 and 30-year plans. This rider provides a full refund of premium, rider and policy fees if the policy remains in force at the end of the level term period.
Policy Features
- Minimum policy size: $50,000
- Rate Classifications: Ultra Select Non-Tobacco, Super Select Non-Tobacco, Select Non-Tobacco, Standard Non-Tobacco, Select Tobacco and Standard Tobacco. Availability of rate classifications varies by issue age and amount of coverage.
- Issue ages
- While the policy is in force, you may convert it to cash value insurance during the guaranteed level premium period or until age 70, whichever is earlier (guaranteed minimum of 5 years convertibility), without evidence of insurability. We guarantee this conversion privilege regardless of health, occupation or hobbies.
- Riders Available:
- Return of Premium – This rider provides a full refund of premium, rider and policy fees if the policy remains in force at the end of the level term period.
- Premium Waiver Benefit – This rider allows insurance protection to continue, with no further premium payment necessary, if you become totally disabled for more than six months.
- Children’s Term Insurance Rider – This rider is designed for individuals to include limited amounts of term insurance coverage on their children.
* Erie Family Life products are not available in all states.
** The Return of Premium Rider is not available in Pennsylvania.
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