Q. What type of insurance is this?
A. It is pure term insurancethe kind that gives you maximum protection for your premium dollar. You are guaranteed the rate you start with for the full ten years you own the policy. Your rate will not go up and your protection will not go down for the full ten years!
Q. Who can apply for this policy?
A. This policy is available for adults ages 18 to 59.
Q. What happens after the ten years are up?
A. You have the option of renewing your insurance for another ten years. This means you can renew your protection every ten years at the renewal rate for your age at the time. Once your policy is in force, you are guaranteed insurable until age 75 when your policy endsno matter what your health or occupation.
Q. Can I convert to a Whole Life policy?
A. Later if you want coverage that builds cash values, you can convert your term policy to whole life coverage. You can do this at standard rates any time until you are 70, without a physical exam.
Q. How much coverage can I have?
A. You can apply for up to $50,000 of protection.
Q. Can my spouse be covered too?
A. Yes, your spouse can apply separately for up to $50,000 of protection as well.
Q. Are there any exclusions?
A. Yes, in the event of suicide during the first two years benefits are limited to the amount of premiums paid.
Remember, it costs nothing to apply and you have 30 days to review the policy. Once your first premium is received your coverage takes effect.
Gerber Life 10-year term life insurance policy is not available in Northwest Territories, Nunavut, Quebec and Yukon. EXCLUSION & LIMITATION: In the event of suicide during the first two years, benefits are limited to the amount of premiums paid.