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term-disability-rider

Term with Disability Rider

A few innovative life insurance companies have created policies to help the homeowner protect their greatest asset, their home. This type of policy not only provides protection for the family in case of death, but also in the event of a disability or unemployment.

Since our homes are our primary source of savings, it would be a shame to lose it in the event of death, disability or unemployment. No one wants to lose such a valuable asset not to mention the enormous emotional strain it would cause for everyone. As the old saying goes, “our home is our castle” is truer today than ever. The equity increases account for most Americans’ savings. The personal savings rate has declined while our debt continues to grow.

A simple solution to this dilemma is a simple policy to safeguard your family’s’ home. For example, a male age 35 who is a non tobacco user can get $250,000 of level term insurance for twenty years with an additional $125,000 of accidental death plus $1,500 of monthly income for 24 months in the event of disability and after twenty years, receive 100% of all his money back! Sounds too good to be true? It isn’t! The total monthly premium on a package like this is only $110.42 for a male age 45.

Because there are so many variables to this policy, it is necessary for you to either speak with one of our specialists or email us with your request.

This policy is a twenty year level term insurance plan, with a no cost accidental death benefit of 50% of the face amount. The disability benefit and the return of premium guarantee are riders that can be added to the base policy. If you don’t want them your premium is significantly less.

The disability income rider provides that if the insured becomes unable to substantially perform the essential duties of any occupation for which he is qualified due to bodily injury or disease then the company pays the benefit to the insured. Benefit payments do not start until disability has been continuous for a three month period. Payments stop after two years. When the insured turns age 60, this rider expires and the premium for this benefit is no longer payable.

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