supplementalbenefits.com

The most purchased benefit of all supplemental benefits and almost 1/3 of all Americans are without any life insurance.  56% of married parents with children under 18 believe they need additional life insurance! And 26% of families with dependent children can cover expenses for only a few months if a primary wage earner dies!*

The most common types of supplemental life benefits are Term Life, Universal Life and Whole Life insurance. All life insurance proceeds are tax free

Term Life Insurance

Offers peace of mind at the lowest cost. 10, 20 and 30 level year term insurance are the most common products offered. The death benefit is level and so is the premium for the length insurance guarantee period. Most contract allow for the policy to be continued past the level premium period thru to age 75 (may be higher or lower depending on the state). Policies are portable which means you can take it with you when you change jobs or retire and at the same premium.. An accelerated Death benefit provision may be included that provides a 50% to 75% benefit to be paid in the event the insured is diagnosed with a terminal illness. No equity or cash value builds in this policy.

Riders are available for children and spouses. Waiver of premium benefit rider waives all premiums if you become disabled before age 65 for 6 months or longer. Accidental Death benefit pays double the face amount of the contract for death due to accident and triple the face if your death is the result of a fare paying public passenger conveyance.

Universal Life

Is a flexible premium adjustable benefit life insurance contract that accumulates cash values based on current interest rates and expenses. Universal life grows the cash value on a tax-deferred basis and offers a minimum guaranteed interest rate. This product is portable and maintains the same benefits whether you leave the job or retire. Most plans offer two death benefits; an increasing death benefit that increases consistently with the cash value of the contract and a death benefit that remains level. You can borrow against your accumulated ash value or make a cash withdrawal. An accelerated Death benefit provision may be included that provides a 50% to 75% benefit to be paid in the event the insured is diagnosed with a terminal illness. Universal life provides a death benefit to age 100.

Riders are available for children and spouses. Waiver of premium benefit rider waives all premiums if you become disabled before age 65 for 6 months or longer. Accidental Death benefit pays double the face amount of the contract for death due to accident and triple the face if your death is the result of a fare paying public passenger conveyance.

Whole life

Has many of the same features as universal life, but has more guarantees. The premiums are guaranteed and so is the cash value regardless of how interest rates or mortality changes. Cash value loans are available up to 955 of the policy cash value.Policies are portable which means you can take it with you when you change jobs or retire and at the same premium.. An accelerated Death benefit provision may be included that provides a 50% to 75% benefit to be paid in the event the insured is diagnosed with a terminal illness.