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Preferred Elite Term Life Insurance

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Product Overview

Term life insurance provides excellent coverage to cater for several unexpected conditions such as accidental death and the cost of medical bills in case the insured becomes ill. These costs can add up and become very difficult for the insured to pay using his savings. However, with a robust insurance plan like the Preferred Elite term, you can easily secure yourself. Having good health is a plus in obtaining any kind of term life insurance in virtually every insurance company, Preferred Elite term insurance is no difference. As a matter of fact, this insurance plan is created for applicants with the healthiest health condition. It guarantees to offer mouthwatering perks that can help you improve your life dramatically.

Features and Benefits

Preferred Elite Term Life insurance includes four terms namely 10-year term, 20-year term, 25-year term and 25-decreasing year term. However, the face amounts for each of these plan options are the same. The minimum face amount is $500,000 and the maximum face amount is $1,000,000 for each term.

  • The minimum face amount for each term in this plan is $500,000.
  • The coverage amount for the plan amounts to $1,000,000.
  • With the exception of the 25 decreasing year term, each of the other terms in this plan is convertible to age 70.
  • Each of the terms in this plan includes accidental death benefits and child term optional benefits.
  • Coverage amount for the 25 decreasing year term decreases over a period of 25 years. It can decrease up to the 50% of its initial face value.
  • The 25 decreasing year term can neither be renewed nor converted.
  • This plan may be the best for you if your state of health is sufficiently good and you delays and barriers when applying for the coverage.

 

 

Additional resources

Learn more about your other insurance options from these informative articles.

Insurdinary provides a comprehensive quotes comparison sends straight to your inbox so you can start comparing health coverage in minutes. See plans from several major Canadian insurers to choose the right option for you. Our customer health specialists are also available to address your questions and concerns.

For more information, you may contact us at 1-877-574-7475, or complete the form below.

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