Life Insurance
$5 Million
Life Insurance
$5 Million
Single Premium Fee: $55,000 – $250,000
Survival Benefit: $500,000 – $2,500,000
Age Restriction: 18+
Medical Exam: N/A
Cover Period: 10, 20, 30 Years
Death Benefit Limit: 3 Years
Term life insurance could help protect your loved ones financially if you pass away. This insurance cover is designed to be affordable and set for a specified time, generally 10 to 30 years.
Term life cover can help provide peace of mind for your family’s financial stability during critical periods of your life, like while raising children or paying a mortgage.
Term life pays if you pass away during the policy term. This payment is known as a death benefit and is paid to your beneficiaries.
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What is a life insurance policy?
The life insurance contract
Life insurance is a contract between an insurance company and a policy owner in which the insurer guarantees to pay a sum of money to one or more named beneficiaries when the insured person dies in exchange for premiums the policyholder pays during their lifetime.
Reliability
Insurance companies have good financial strength, a low number of customer complaints, high customer satisfaction, several policy types available, and easy long-term applications.
Understanding single premium life insurance (SPL)
Single Premium Life Insurance (SPL) is a unique life insurance arrangement offering the convenience of a single upfront payment instead of periodic premiums like monthly, quarterly, or annually. Upon making this lump sum payment, the policy becomes active, ensuring coverage for the insured.
What is a survival benefit and a death benefit
The survival benefit of a life insurance policy pays an amount to the policyholder when the life insured outlives the policy term, and the death benefit of a life insurance policy represents the face amount that will be paid out on a tax-free basis to the policy beneficiary when the insured person dies.
What are the benefits of a five-million-dollar life insurance policy?
A five-million-dollar life insurance policy offers enhanced financial protection and security, empowering you to safeguard your family’s future even more effectively.