Flexible coverage for temporary protection
SunSpectrum Term Life Insurance is available in amounts between $50,000 and $15 million for terms of 10, 15, 20 or 30 years. Premiums are guaranteed and the policy is renewable until the policy anniversary nearest age 85 or may be converted to permanent insurance (whole life insurance) until nearest age 75.
You should consider this product if:
- You want affordable term insurance protection that comes with guaranteed premiums
- You are looking to help provide future financial security for your family or beneficiaries
- You have income replacement or mortgage and debt protection needs
- You want to take care of non-permanent insurance needs while staying within a comfortable budget
- You want the comfort of knowing your insurance policy gives you the option to provide lifetime protection if your needs change
- You are a business owner who is concerned with the succession of your company or are looking to protect the value of a key employee
Your premiums automatically renew (at guaranteed rates) at the end of your term.
Guaranteed conversion to permanent insurance at any time regardless the insured person's health, occupation or lifestyle until the policy anniversary nearest the insured person's 75th birthday.
Guaranteed death benefit
Death benefit is guaranteed not to change for the term you choose.
Policy is renewable until the policy anniversary date nearest the insured person's 85th birthday.
- 10, 15, 20 or 30 year renewal terms are available, depending on the insured person's age
You can buy $10,000-$30,000 of life insurance on each of your children (including legally adopted children) who are age 18 and under.
- Once you choose this insurance, any other children you may have in the future are automatically insured, and your premium for this benefit doesn't increase.
- Children are insured under this benefit from the date they are 15 days old until their 25th birthday.
- The insurance on each child ends at the policy anniversary nearest the insured person’s 70th birthday.
- Premiums are payable for a maximum of 20 years, regardless of how long coverage is in force.
- With a built-in conversion option, you can buy up to 10 times more insurance on your children between their ages of 18 and 25, regardless of their future health, occupation or lifestyle.
- This benefit allows for the purchase of new life insurance to the maximum of $300,000.
Read examples of text that can appear in a policy. Not all the provisions apply to every policy – it is for your reference. When we issue a policy it governs the relationship between us and the client. The policy can have provisions that are different from those that you've read here.