Illustration
Examples
 20 Year Term 1,000,000 Age 40 Monthly
Premiums
Super Preferred
Return of Premium
Example |
|
Term Life
Insurance
Term life insurance is
protection that is designed to meet temporary insurance needs. For instance,
you may decide that you want coverage until your kids graduate from college;
or, until a particular debt like your mortgage is paid off. Term insurance
covers you for a specific period of time (the “term”), generally from
one to thirty years, and pays a death benefit only if you die during the
term.
Term insurance is the most
basic type of life insurance and typically the least expensive. This makes it
an attractive option for many young couples and individuals. You can buy higher
amounts of coverage when the need for protection is usually at its greatest.
As with all types of life
insurance the death benefit is paid to your beneficiaries completely income tax
free. If you stop paying premiums and allow the policy to lapse, there is no
cash value paid out to you, the coverage simply ends.
Term Life Insurance:
- Least expensive type of life insurance
- Protection for temporary needs, i.e. mortgage,
college
- May be a good choice for young families and
individuals
The downside is that the cost
of your new policy may be significantly higher than the cost of your initial
term policy, as your current age and health are factored in the price. If you
think that you might need permanent life insurance, or if you’re
interested in life insurance that may build cash value that you can use in the
future, you may want to consider universal life insurance.
ING’s life insurance
companies offer a competitive lineup of term life insurance products, some with
conversion features to universal life insurance and variable universal life
insurance policies. Your financial professional can talk to you about your
situation and help you select the coverage that’s just right for you.
|
|
ING TermSmart
10, 15, 20 and 30
Year Death
Benefits from 100K to 10 Million Six Underwriting Classes Conversion Options
Available
Optional Policy Riders Available Rider Summary
Accidental Death
Benefit
Provides accidental death
protection up to the face amount, to a maximum of $300,000 on any one life
(includes any ADB already in force). The rider automatically expires on the
policy anniversary nearest the insured's 65th birthday.
Children's Term
Rider
Provides level term insurance
on each insured child to age 25.
The coverage is sold in units
of $1,000. There is a minimum of 2 units ($2,000) and a maximum of 10 units
($10,000).
$6.00 per unit, regardless of
the number of children covered.
The rider terminates if the
insured dies; at the insured's age 65; or when the child reaches age 25.
Living Benefit
Rider
The Living Benefit Rider
(LBR) is automatically included, where approved, at no additional premium for
eligible policies. The LBR will remain in force as long as this policy remains
inforce. The rider allows prepayment of a portion of the death benefit if the
insured is terminally ill with a life expectancy of less than six
months.
Waiver of
Premium
Premiums are waived if the
insured becomes disabled. The rider automatically expires on the policy
anniversary nearest the insured's 60th birthday. Issue Ages: 18 - 55 (using
birthday rules of base policy). |
