Can you really get guaranteed life insurance with level premiums to age 100? Sounds too good to be true?
[Editor’s Note: This blog was originally published on March 29, 2007. The content has been updated.]
To Age 100 Guaranteed Life Insurance plans offer a guaranteed level premium…to age 100, with a guaranteed level death benefit to that same age. Most often, this is accomplished within a Universal Life policy, with the addition of a feature commonly known as a “no-lapse rider.”
A “To Age 100” policy is generally less expensive than Whole Life insurance, and your beneficiaries receive the policy’s death benefit that is income tax-free.
Some (but not all) of these plans also include an “extension of maturity” feature, which provides that if the insured lives to age 100…and has paid the “no-lapse” premiums each year…the full face amount of coverage will continue on a guaranteed basis…at no charge thereafter.
So if you’re between the ages of 18 and 85, you can purchase this type of coverage. Rates will vary, according to your age and health, but your premiums will be guaranteed to remain level and not go up…to age 100!
For over 30 years, AccuQuote has been helping customers save a ton of money on their life insurance. We offer many different types of life insurance options, including Term Life, Permanent Life, Disability Insurance and so much more.