If you are seeking a suitable coverage for a limited period of time or a certain number of years, term insurance is surely the best option for you. It is adequate for people who need low cost but flexible insurance coverage. Term insurance can help you to deal with temporary debts like mortgages and also business debts. Interestingly, Assumption offers FlexTerm, a flexible coverage that can help you to deal with increasing needs.
FlexTerm allows the insured to choose between 6 different coverage terms, namely, 10, 15, 20, 25, 30, and 35 years of coverage. Each of these coverage terms has an affordable price and a guaranteed premium. In addition, the product is for individuals aged between 18 and 75 and medical exams are not required to enroll in the life insurance coverage of $499.99 and below.
FlexTerm is a renewable and convertible plan. You can convert it to a permanent insurance product offered by Assumption. The plan also includes optional riders or features such as child insurance benefit as well as critical illness rider. Also, you can change the term of the policy and the policy is available as an individual or a joint policy.