Not exactly. Term Life Insurance is designed to provide for your loved ones in the event of your premature death, but NonMed Term 350 gives you more options than just to purchase a policy for a set amount. Unlike other term life policies, NonMed Term 350 can also be converted to permanent insurance, and includes an Accelerated Benefit Rider that allows you to receive benefits while you’re still living.
What if you become disabled or suffer a critical illness? If you have a NonMed Term 350 and have purchased additional Riders for your policy you may be provided for under the terms of the policy. These Riders are optional, but the benefits they provide can protect your income should you become disabled or unable to work because of critical illness:
- A Disability Waiver of Premium Rider will keep you policy and riders in force by waiving the premiums should you become permanently disabled.
- The Monthly Disability Income Rider pays you a monthly benefit if you become totally disabled.
- An Accident-Only Disability Income Rider will pay you a monthly benefit, but only if you become disabled due to an accident.
- The Critical Illness Rider pays you a lump-sum benefit on diagnosis of a specified critical illness.
Along with these riders you can also add on riders for children, your spouse, business partners or others with an insurable interest. The decisions are yours, but any or all can make a difference in preserving your assets and planning for your family’s future.
Planning for the future doesn’t mean you can’t plan for your own as well. With a NonMed Term 350 Policy, you have the option of adding a Return of Premium Rider and eventually taking a refund of all or some of the premiums you’ve paid for to use yourself. Say you’ve purchased a 20 or 30 year term policy and you outlive the term. You’ve paid all those premiums into the policy and now you want to use that money again. You can. With this rider you can request a refund of those premiums to use the money for medical expenses, to pay for your children’s college expenses, or even to pay off your mortgage. the choice is yours.
Protect your assets and provide for your loved ones at the same time with one unique term life policy. Call your AC Financial Adviser at 800-564-3136 to talk about NonMed Term 350 and what options are right for you.
