Term Life Insurance
Get the most coverage for your dollar with a temporary or term policy from Alfa. Term life insurance is designed to provide you with coverage for a select period of time (10, 15, 20, 25 or 30 years). It’s simple, easy on the family budget and a temporary alternative or supplement to permanent insurance plans. Alfa offers the following term plans:
- Level premium term - One of Alfa’s most popular plans, our level premium term policy provides the convenience of having a constant level of life insurance coverage for the duration of the policy. This plan is very affordable and allows you to purchase large amounts of coverage at reasonably-priced rates. It is available for ages 0-70. Once the initial term expires, you will have the option to continue renewing 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 may also convert your term policy to any of Alfa’s permanent life policies at any time before age 65.
- Return of premium - Imagine term life insurance that gives you cash back at the end of the policy term. That's exactly what Alfa's return of premium plan does. Available as a 30-year level term plan, this option is ideal for those 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 30 year period, all your base premiums and policy fees are returned (excluding premium for riders, benefits, extra life premiums/rate ups and modal fees). Even if you cancel before the term expires, you could still receive a percentage of the premium paid.
- Rapid issue term - This term insurance policy is offered with an easy application process, and with simplified underwriting. This policy has no medical exam requirements. Alfa offers this plan of insurance with term options of 10, 20, or 30 years. The minimum age to apply is 18 years old and the maximum age varies by the term selected. Volumes offered are as low as $25,000 and up to $75,000. The policy does allow for a period of conversion to a permanent plan of insurance.
* Non-tobacco rates are available on all policies for those who qualify.