Term life insurance

Compare term life insurance with:

Flexible, temporary, protection with options for your future

What is term life insurance?

Term life insurance provides temporary protection for temporary needs. It also has some flexibility, so you can adjust your insurance, as your needs change.

It provides several guarantees

You can choose between:

Term life insurance - provides coverage for one person
Joint term life insurance - one policy that covers 2 people who share a joint risk (e.g. a mortgage)

Who is it for?

We find that term life insurance is a popular choice for:

Individuals focused on affordability and flexibility
Small business owners facing debts or significant start-up costs
Business owners with complex needs like key person protection or buy/sell agreements
People with mortgages or other temporary debt

We offer 4 term life insurance options:

	SunSpectrum Basic Life	SunSpectrum Term	SunSpectrum Joint Term	SunTerm
Guaranteed premiums	Your premiums automatically renew (at guaranteed rates) at the end of your term
Guaranteed conversion to permanent insurance at any time regardless of your health, occupation or lifestyle	Until the policy anniversary following the insured person's 65^th birthday(the older person's 65^th birthday for joint plans).	Until the policy anniversary following the insured person's 70^th birthday.	Until the policy anniversary following the insured person's 65^th birthday.	Until the policy anniversary following the insured person's 70^th birthday.
Guaranteed death benefit	Death benefit is guaranteed not to change for the term you choose.
Renewable	Policy is not renewable.	Policy is renewable until the policy anniversary date following the insured person's 80^th birthday.	Policy is renewable until the policy anniversary date following the insured person's 75th birthday.	Policy is renewable until the policy anniversary date following the insured person's 80th birthday.
Minimum amount	$50,000	Age 0-17 $50,000 Age 18-79 $100,000 or $20 monthly *At older ages, the minimum insurance amount may be lowered if the monthly premium is at least $20.	Age 21-65 $50,000	$250,000
Maximum amount	$500,000	$250,000	$250,000	$10,000,000
Terms available	25 years terms for ages 18 to 40 to age 65 for ages 41 to 50	1 to 20 year terms depending on your age.	10 to 20 year terms depending on your age	5 to 20 year terms depending on your age
Includes	Living benefit Survivor & Automatic Survivor benefits (for joint plans only)	Living benefit Premium fund	Living benefit Survivor & Automatic Survivor benefits	Living benefit More details Plus, for joint plans: Survivor & Automatic Survivor benefits
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Options you can choose	Disability Waiver benefit (single plans only) Basic Critical Illness Insurance	Child Term Insurance benefit Disability Waiver benefit Guaranteed Insurability benefit Accidental death benefit	Child Term Insurance benefit Disability Waiver benefit	Total disability benefit Accidental death benefit More details Plus, for single plans: Child Term Insurance benefit
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More information	Sample policies	Sample policies	Sample policies	Sample policies Joint sample policies

Published: 03/12/2007

Last updated: 03/12/2007