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Term Life Insurance

Term Life Insurance

In today’s fast paced world, peace of mind comes from knowing you and your family are protected against the unthinkable. Peace of mind comes from having life insurance. Although most Americans agree that one of the most important forms of insurance one can have is life insurance, most don’t have enough life insurance and many have none at all. So, just how much do you really know about life insurance? Do you know what different types of life insurance are available? Insurance Hub has some important facts about term life insurance every American should know.

What is term life insurance? Basic group term life insurance is a truly invaluable resource for millions of employees. Term life insurance provides protection for a specified period of time, delivering a benefit to the beneficiary in the event of death to the policyholder. Accidental Death and Dismemberment (AD&D) coverage may also be added to a term life insurance policy. Term life insurance policies generally have maximum age restrictions and offer lower premiums for younger policyholders. Take a look at some of the options available with term life insurance coverage.

  • Class schedules no more than 2.5 times between classes and 10 times between highest and lowest class
  • Minimum coverage $15,000 for groups with fewer than 100 employees
  • Maximum coverage lesser of six times annual salary or $1 million, combined with voluntary life coverage
  • Flat amounts available in $1,000 increments
  • Multiples of salary rounded to nearest $1,000
  • Guaranteed issue amounts with no medical underwriting for covered employees as well as their spouses and dependent children
  • Guaranteed conversion to a whole life plan in specific approved circumstances
  • Premium waiver for employees who become disabled while under coverage
  • Living benefit, or accelerated death benefit, for employees diagnosed with a terminal illness while under coverage
  • Portability for voluntary life coverage optional
  • Childcare and education benefit riders available as optional coverage

At Insurance Hub, we believe everyone should be able to understand and afford life insurance coverage. We’re here to assist you with all of your life insurance needs and to answer any questions you might have. At Insurance Hub, we are committed to always putting our clients first. Whether you’re looking for term life insurance or any other type of insurance coverage, Insurance Hub has just what you’re looking for. For more information regarding term life insurance and other insurance coverage, visit Insurance Hub’s website today at www.insurancehubusa.com.

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