North American’s term life insurance helps provide protection when your family needs it most. It’s designed for short-term protection at an affordable cost. Should the unexpected happen, your loved ones will receive generally income tax-free funds that can provide financial protection for the future.
It can help…
- Provide financial help to your family in a time of need
- Replace income to continue your family’s current quality of life
- Provide protection for outstanding loans, including a mortgage
- Pay off debts like credit cards and student loans
- Ease the transfer of a small business
Why Buy Term Life Insurance?
North American Term Insurance Highlights
Level premium guarantee
North American term life insurance lets you choose the length of the policy’s term — 10, 15, 20, or 30 years, up to $10 Million in life insurance coverage. We guarantee that your premium amount will not change during the period you select. For example, our 10-year product is guaranteed to have level premium payments for 10 years. After the level premium period, coverage can continue, but the premiums may increase.
Accelerated death benefit endorsement
The main benefit of life insurance is the invaluable death benefit protection it provides, but North American’s Term Insurance also offers accelerated death benefits, which means the owner can accelerate a portion of the death benefit should the insured become critically, chronically, or terminally ill, subject to eligibility. The funds can be used for any purpose you choose. These benefits are included for no additional premium charge at issue on eligible policies.
NOTE: The critical and chronic illness benefits on North American Term are not available in California.
Children’s insurance rider
In addition to your own coverage, the children’s insurance rider allows you to insure your child’s life at great rates too. Plus, your child can continue the coverage into his or her adult years by converting it into a permanent policy. This is an ideal option for any family, especially for single parents. There’s no additional policy fee; you just pay an additional premium. It’s like getting two policies with one premium.
Life changes, so you should be able to change your life insurance policy, too. North American Term provides you the opportunity to convert to most of our currently available individual permanent life insurance products without evidence of insurability. There are some restrictions based upon the age of the insured at policy issue, but the conversion period is never less than five years.
Waiver of premium rider
We understand that should you become disabled, it might become harder to pay your life insurance premium, yet this may be the time when you need financial protection from life insurance the most. The waiver of premium rider allows the entire premium to be waived if you are certified as being totally disabled. For an additional monthly fee, this rider is available for issue ages 18 – 59 and ends when you reach age 65.
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I’m a licensed financial professional. I’ve sold annuities and insurance for more than a decade. My former role was training financial advisors, including for a Fortune Global 500 insurance company. I’ve been featured in Time Magazine, Yahoo! Finance, MSN, SmartAsset, Entrepreneur, Bloomberg, The Simple Dollar, U.S. News and World Report, and Women’s Health Magazine.
My goal is to help you take the guesswork out of retirement planning or find the best insurance coverage at the cheapest rates for you.