10 Pay or 20 Pay Life insurance | Limited Pay Life Insurance Quotes
Don’t want to pay for life insurance for the rest of your life? Well, you are in luck, there is a paid up solution. It is a fully guaranteed limited-pay policy. The premiums are due for a 10 or 20 year period at which point the policy is fully paid up.
Paid up Features
Here are features from one of our insurance carriers:- Guaranteed level life insurance coverage to age 100.
- Your policy will be fully paid-up after 10 or 20 years.
- Beginning at age 100 the amount of your insurance will increase by 5% every year thereafter.
- Coverage amounts as low as $25,000.
- Availability of non-smoker rates if you have not used any tobacco or nicotine products in any form in the past 12 months.
- You can select additional benefits, such as: Disability waiver of premium, Guaranteed insurability rider, and Accidental Death & Dismemberment
In the diagram you can see in this example that in the 21st year there are no further premiums to be paid, in addition the coverage remains the same while the cash values of the policy continue to increase.
You can get a 10 pay or 20 pay life insurance quote on this site or contact me for a customized illustration.
About the Author
Neil Lecky
Neil Lecky is a Life Insurance Advisor, Group Employee Benefit Specialist and an Investment Funds Advisor with Alliance Financial Group. He is also a Branch Manager and Investment Funds Advisor with Investia Financial Services Inc., a mutual fund dealer.
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