Mar 29
What is to age 100 guaranteed term life insurance?
These plans offer a guaranteed level premium to age 100, along with a guaranteed level death benefit to age 100. Most often, this is accomplished within a Universal Life policy, with the addition of a feature commonly known as a “no-lapse rider”. Some, but not all, of these plans also include an “extension of maturity” feature, which provides that if the insured lives to age 100, having paid the “no-lapse” premiums each year, the full face amount of coverage will continue on a guaranteed basis at no charge thereafter.
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March 30th, 2007 at 11:00 pm
What does the possibility of expanding biomedical advances do to the future of these kinds of policies? Will the insurance marketing companies change their tune if more and more people are living to age 100, or are they banking on the unhealthy lifestyles of most Americans to make this a profitable plan for them? Just a thought, I guess. More of a rhetorical question. I met a 95-year-old this week who was about as sharp and lively as they come… pretty inspiring, really.
Jerry