There comes a time in most people’s lives to seek financial protection. Whether a client is recently married, takes on a mortgage, or starts a family, a need exists to help cover expenses or replace income due to loss of life. A simple and economical solution is ADDvantage term life insurance from North American. ADDvantage offers five underwriting classifications that provide economical rates for clients who meet reasonable underwriting requirements. With marketable features and competitive rates, ADDvantage can offer your clients affordable protection.
ADDvantage Term Life Insurance
Product Highlights
Level Premium Guarantee
ADDvantage Term life insurance lets your client choose the length of the policy’s term—10, 15, 20, or 30 years. North American guarantees that your client’s premium amount will not change during the period they select.
Convertable
ADDvantage 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 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.
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 additional premium. It’s like getting two policies with one premium.
Accelerated Death Benefit Endorsement
The main benefit of life insurance is the invaluable death benefit protection it provides, but North American’s ADDvantage Term 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.
Resources
Get Your Client Started
North American’s term life insurance helps provide protection when your client’s family needs it most. It’s designed for short term protection at an affordable cost. Should the unexpected happen, your clients’ loved ones will receive generally income tax free funds that can provide financial protection for the future.
Highlights:
- Accelerated death benefits for critical, chronic, and terminal illness
- Competitive low-cost rates
- Fully convertible
- Low minimum face amount of $100,000
- 10, 15, 20, and 30-year level premium guarantee periods
- Renewable to age 95
- Available on North American’s e-app
Don't forget to check back every month for a new product spotlight!
Have any questions or want to talk more about this product? Contact us today and we’ll be happy to help!
Wealth Watch Partners is not affiliated with third party vendors mentioned in this website nor do we guaranty the accuracy or quality of their services. Although we may promote and/or recommend the services offered by these companies, financial professionals are ultimately responsible for the use of any materials or services and agree to comply with the compliance requirements of their broker/dealer and registered investment advisor, if applicable, and the insurance carriers they represent.