Life Insurance: Coverage Options

What are my coverage options?

The most common types of pure life insurance are:

Term insurance - provides protection for a specified period of time.
If the death of the insured person occurs within the time limits of the policy, the death benefit will be payed to the beneficiary. No benefits are paid if the insured person is still alive at the end of the covered term.

Permanent insurance - Unlike term insurance, permanent life insurance has no specified term, subject to policy conditions. A permanent life policy calls for premiums to be paid for as long as the insured lives.

At Demuth Life Insurance Company, you can choose from two types of pure life insurance:

Level Best Gold and Platinum Term Insurance:
This term insurance provides affordable, basic insurance protection for a specific period of time. If death occurs within the time limits of the policy, the face amount of the policy is payable (subject to policy limits). This policy also has renewal or conversion options.

Elite Index Universal Life:
This permanent insurance allows you to vary the amount and timing of your premium payments (subject to satisfying policy premium minimums to keep the policy in force), plus increase or decrease the death benefit (subject to underwriting for an increase and policy minimums for a decrease). With both permanent and universal life insurance your policy accumulates cash value. Generally, universal life insurance policies allow you to borrow a portion of your cash value (subject to policy loan interest rate, within policy limits and sufficient cash to maintain coverage).