Term Life Insurance
Term Insurance is a low-cost, temporary alternative to Permanent Insurance. It provides good interim protection, and most policies can be purchased for face amounts of $50,000 and up. Available plans include:
- Level Premium Term - Provides good protection for those who need to cover short-term debt for a limited time such as a car loan, or a longer-term debt such as a mortgage. Protects against loss of income while you have children at home. Has a level death benefit and can be purchased for 10 to 30 years. Issue ages: 0-70. Once the initial policy term expires, you have the option to continue renewing the policy annually as you get older (until age 100). During the renewability phase of the policy, your rates will increase based on your age at the time of renewal. You can convert to a Permanent Life or Universal Life policy before age 65.
- Return
Of Premium
- Available as a 20-year level term plan, this
option is ideal for individuals who want and need protection
and peace of mind but think they will outlive their policy.
With Alfa's ROP Term, if you are living and the policy
is in force at the end of the 20-year period, all your
base premiums and policy fees are returned to you. If
you cancel before the term expires, you could still receive
a percentage of the premium you have paid.
*Non-tobacco rates are available on all policies for those who qualify.
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