Senior (50+) Term Life
America is an aging society, as medical advances have continued to increase our life expectancy. This has resulted in a growing population over the age of 50 that needs life insurance to help cover final expenses, replace outdated policies, supplement Social Security or protect a spouse's lifestyle.
This product is uniquely designed to help meet the final expense needs of members age 50–74 with coverage amounts as low as $5,000, and automatic renewal to age 95.
| Senior (50+) Term Life* | |
|---|---|
| Underwriter | The United States Life Insurance Company in the City of New York (NAIC
70106), a member company of American International Group, Inc., 830 Third Avenue, New York, NY 10022-6565 Rated A++ Superior by A.M. Best United States Life does business in all states (except Puerto Rico) plus the District of Columbia |
| Eligible Ages | Age 50–74 (automatically renewable to age 95) |
| Coverage Amount | $5,000 to $100,000 in $5,000 increments Coverage reduces by 50% or to maximum of $20,000 at age 75 |
| Marketing | Primarily direct mail |
| Underwriting | Simplified issue – 2 medical questions, typically no medical or physical exams, plus MIB |
| Rates | 5-year age band (premium increases as new age band is attained), Gender |
| Key Features | Affordable premiums Low coverage amounts down to $5,000 are available Simplified issue underwriting to $100,000 Renewable to age 95 |
| *Plan benefits, features & coverage are as specified in the master policy #G-610,168 and may not be available in all states. Coverage is made available through Cuenca & Associates Insurance Agency, dba LifeHelp, CA License No. 044 9782. These products are offerings for insurance, are not an obligation of or guaranteed by the Credit Union, and are not insured by the NCUA. | |