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"New and Revolutionary"
Term UL Life Insurance The term life insurance world is
slowly being revolutionized by a relatively new and exciting
product offering known as Term UL (for Universal Life). And, if
you are in the market for life insurance, it is definitely
something that you should consider. But first some background
to quickly describe what confronts most of us when we seek out
life insurance.
1) We typically seek a life insurance plan for the purpose of
providing funds in the event of the death of a family bread
winner. Most commonly this is referred to as seeking life
insurance for "income replacement."
2) The typical family will seek a policy somewhere in the
neighborhood of $100,000 to $1,000,000 in death benefit. 3)
Term life insurance is the most attractive form of life
insurance because of cost. With a base term plan there are no
bells and whistles. If you shop it right (our specialty), you
will get the most coverage for the lowest cost from a quality
company. 4) Now here's the part term life insurance that being
revolutionized: A term life insurance plan provides coverage for
a specific period of time (e.g. 10, 20 or 30 years). At the end
of this term period the plan will for all practical purposes
end. You could continue the plan beyond the original term, but
it would be cost prohibitive to do so.
Here is an example: A 45 year old male seeking a $100,000
life insurance policy for 20 years would pay $24 per month on
one of our lowest priced "A" rated plans. At the end of the
plan, or when he is 65, he could continue paying on this same
plan, BUT would see his rate soar to $992 per month. No thank
you! Mainly, this is because the original policy was
underwritten for 20 years, and not for a longer period. He could
select a longer term 30 year plan, but the cost of a 30 year
plan is $45 per month, and not in his budget at this time. He is
forced to balance his budget with his desire for a longer term
plan. Add to this the realistic chance that he may become
uninsurable over the next 20 years, and at age 65 would either
be denied for new coverage or pay a rate at a more expensive
health category. So here is the product that is
revolutionizing term life insurance: You can now buy a
term life insurance plan that will allow you to extend the term
life of the plan AFTER you are in the plan.
The basic plan is built on the chassis of a Universal Life
Plan, but for your purposes it operates and costs same as a term
life insurance plan. The plan's unique feature will allow
you to roll the term forward at a future date. For example, say
you purchase a 20 years plan at the age of 45. At any time
during the 20 year period you can contact us, or the carrier and
extend the plan for additional years. You will get a new rate
that corresponds with your age at the time, which will be highly
competitive. Since you are not locked in, you could change
carriers should you decide. But, you wouldn't want to for one
very important reason - your health status is locked in. We
cannot stress the importance of this feature. One of the
greatest fears when buying life insurance is that we might see
our health take a turn for the worse, and at some future point
we would be uninsurable. Not so with this plan...your health
status is in the bank.
Let me give you a specific "rate lowering" example of how one
of our client's utilized this plan: Dave M. from Illinois is age
38 and has 3 children ages 3, 7 and 12. He was looking for
$500,000 in term life coverage for 30 years. The purpose of the
policy was to give his family income protection and insure that
the children would be provided for and the house would be paid
off. We looked at the rates for this policy and from our
database of over 120 carriers. Good news the Term UL plan was
among the least expensive. A great place to start. The 30 year
rate came out to $56 per month, which was more than his budget
could afford. He had a desire for 30 years, but stated that a 20
year policy, though minimum would work as his youngest would be
23 at the end of the term. The cost of the 20 term policy was
only $35 per month (a $21 savings), and comfortably within his
budget. He finally decided on the 20 year plan (saving $252 per
year), because he knew that he could add years onto the policy
at a later date And the best part was that he can add on years
down the road without having to re-apply. Jim Wolf is
President of
A1TERM Life Insurance. At
A1TERM specializes in saving you time and money when buying life
insurance. We provide quotes from our extensive database of over
120 different carriers whereby assuring you the highest quality
policy at the lowest rate - only “A” rated carriers and better.
Give us a call at 1-800-716-6171. A1TERM: Great Life Insurance.
Cheap Rates. |
