Term Policy: Choose Yours
Term Insurance- True
Insurance
Term insurance is called the true insurance. The reason is
simple - you spend a few dollars from your pocket every month and stay assured
that your dear ones will be alright when you are no more. You have the relief,
the assurance and the consolation that you need. You buy big for small. It is
like a child’s getting a piggybank in a dream.
That’s why term policies are eternally popular. And insurers
know this. So they come up with newer and competitive innovations off and on.
The more does not really make it merrier for you. The more means more confusion
to you. Yes, it does. That is why my today’s post shows you term policies
of five companies together.
The companies are- American Prudential, Allstate, Liberty Mutual, AXA and AIG. Hope you will benefit.
Company name
|
Policy
|
Term
And Age
|
Coverage
|
Riders
|
Conversion
|
Renewal
|
Level
|
Cash Value
|
Cost
|
American Prudential
|
Term Essential
|
10,
15,
20,
30
(18-75)
|
100000
min
|
Yes,
Auto Terminal Illness.
Subject
to purchase
Accidental
and Child
|
after
level premium
period
/age 65
or
5 year passage
|
Yes
Till age
95
(Premiums
going up annually
|
Yes
Periodic
(till
65)
|
No
|
Subject
to
health, age, sex
|
Term Elite
|
20-30
|
100000
min
|
Yes,
auto unemployment
And
Disability
Premium Waiver
Optional
are subject to purchase
|
Up to 65
or passage of 5 years
|
Yes,
periodic
(till
65)
|
No
|
Subject
to
health, age, sex
|
||
PruTermWorklife 65
|
Age
25-55 lasts till 65
|
100000
min
|
Auto
Disability and Unemployment Waiver
|
Up to 65
|
up to 85
|
Up to 65
|
No
|
coverage
Subject
to
health, age, sex
|
|
PruTerm Return of Premium
|
15-30
|
Optional
|
Optional
for terminal illness only
|
Level
premium end/65/ 5 year passage
|
Yes,
premium
return if policy is in force
|
Subject
to
health, age, sex
|
|||
PruTerm One
|
01
(till
95)
|
optional
|
For
terminal illness
and
subject
to
Purchase
|
End of 5
year
|
Yes till
age 95
|
No
|
No
|
Subject
to
health, age, sex
|
|
Allstate
|
Basic
|
15
|
50000
min.
|
Yes,
death and disability
|
Yes
Between
2nd through 10th
|
No
|
Yes,
periodic
|
No
|
Subject
to health history and age
|
TruLife
|
10-30
|
For 46/+
500000
For
18-45
200000
|
Yes
|
Yes,
Between
1st through 10th
|
Yes,
after level term period
|
Yes,
periodic
|
Subject
to health history and age
|
||
Liberty Mutual
|
Liberty
Series Passport 10
Liberty Series Passport 20
Liberty Series Passport 30
|
10-30
(based
on age)
|
50000
min
150000+
min.
1000000
max
|
Yes
Child
Death
Disability
Accidental
upon purchase
Etc.
|
Yes
policy-based time frame
|
Yes, up
to 90 with coverage rise
|
Yes,
periodic
|
Depends
on policy
|
Subject
to health, age, coverage
|
AXA
|
AXA Equitable Term 10
|
01, 10,
15, 20
|
Optional
up 50000
|
Subject
To
purchase
Child,
disability and premium waiver
|
Yes
|
Yes
|
Yes
Periodic
And
optional
|
None
|
Subject
to policy
|
AXA Equitable 15
|
15 years
|
100000
min
|
Automatic
Terminal
illness
and
above ones
|
Yes
|
Yes
|
Yes,
periodic
And
optional
|
No
|
Subject
to
policy
|
|
Term One
|
01 year
|
optional
|
none
|
Yes
within 5 years
|
Yes
|
N/A
|
Yes,
upon conversion
|
||
AIG
|
AG Select a Term
|
10 years
And
Anywhere
Between
15-30
years
|
50000
min
|
Auto
Terminal illness
Child,
Disability
Premium
waiver upon purchase
|
Within
level period or
Till 65
|
Yes
|
Yes
periodic
|
No
|
Subject
to
health,
age,
tobacco habit, sex
|
AG ROP
|
10-35
|
optional
|
Yes,
subject to purchase
|
Yes
throughout (higher premium after level period)
|
Yes, up
to 95
|
Yes
periodic
|
Yes upon
completion of 5 years
|
Subject
to
health,
age,
tobacco habit, sex
|
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