While the name of this type of policy includes the word term, it’s a form of permanent life insurance that is meant to last until you reach the age of 100 years. Therefore, it means that your premiums are constant throughout your entire life. They’ll never go down, nor up.
That being said, the benefits of this policy are pretty straightforward. Its premiums are fixed allowing you to budget your expenses easily. Nonetheless, it’s worth noting that in the event you cancel your policy, term 100 life insurance doesn’t offer you any surrender value.
A Term 100 Life Insurance policy is ideal if you’re specifically interested in low-cost lifetime insurance for purposes such as burial expenses or creating an estate. Although these plans are attractive because they offer low premium and more simplicity, they will not generate any dividend for you. The following are the major benefits associated with the term 100 life insurance:
If you’re looking to pay one flat amount every month/year, Term 100 may be the simple life insurance solution you’re looking for..
Whole | Participating | Universal | Term 100 | |
---|---|---|---|---|
Lifetime Coverage | Yes | Yes | Yes | Yes |
Guaranteed Premiums | Yes | Yes | No – Can increase or decrease to suit your budget | Yes |
Savings Component | Yes | Yes – Dividend is based on the insurance company’s performance | Yes – Investment portfolio is customizable | No |
Cash Value | Yes | Yes | Yes | No |
Learn more | Learn more | Learn more |
If you’re at a crossroads of deciding whether this policy is your thing, perhaps you need the help of an expert to make the right decision. We can help you reach the right decision and even recommend other alternatives that can fit your expectations.
Call us today for more details about the term 100 insurance policies!