All Term
Insurance Policies are NOT the Same!
Why should
you consider Auto-Owners Term Life insurance over other companies’ products,
even if the price is a little higher?
You are ensuring your future. Most term insurance products
sold by other companies leave a big exposure gap! Let me illustrate:
Typical competitor’s 10-year term policy Premiums
·
A 41-year-old preferred non-smoking male:
$500,000 term life policy
·
Year 1 through 10 premium: $415 per year
·
Year 11: $5,730
annual premium (Huge Rate Increase by our Competitors)
·
Year 12: $6,315
·
Year 15: $8,805
·
Year 20: $14,205
At age 51 for this individual
there is a strong chance he will still need life insurance and may even have a
greater need for it then. If he were to become uninsurable during the 10-year
period of this policy and still needed the life insurance, he would not be
too happy knowing he can’t afford the higher premiums after his 10 year term
policy expires. By the 20th year he would have paid
over $100,000 to keep his coverage in force.
Most life insurance is intended and designed
to never pay a death benefit. In fact, only 2 percent of all term policies sold ever pay a death
benefit. Most term policies are designed to force
policyholders to go away before they die. At Auto-Owners we think differently
about our policyholders. We are interested in insuring our policyholder’s future.
Auto-Owners Insurance Company offers a unique optional feature on our 10- and
20- year term policies called Guaranteed
Renewability Benefit (GRB).
At the end of a 10-year term of
low premiums, the policyholder has the option of continuing coverage by locking
in a level rate for another 10-year period. This rate is for the attained age,
using the same underwriting class the policyholder had originally, regardless of
his current health.
So if our customer qualified for preferred rates at age 41 as in the
example above, he would renew at preferred rates at age 51 even if he is
uninsurable due to health reasons. Only Auto-Owners allows you to have
financial peace of mind knowing you can afford to insure the next ten years of
your life with this very unique GRB benefit.
Here is how
Auto-Owners pricing would work for the same client as above:
·
Year 1 through 10: $541 per year
·
Year 11 through 20: $1,112 per year
·
So if our customer qualified for preferred rates
after the 10 year policy expires for this 41-year-old male we are using as an
example. He would need to pay a premium that is only $126 per year higher with
Auto-Owners for the first 10 years in order to get the peace of mind knowing
the future is protected if he becomes uninsurable. After the 11th
year he would already be money ahead with Auto-Owners. I am sure you will agree
that the Guaranteed Renewability Benefit is important for securing your
financial future and it’s only available from Auto-Owners Insurance. The
cheapest price is usually not the best value in anything we buy.
Michael Carlisle
Carlisle Insurance
Agency
740-286-5031
www.carlisleinsagency.com
www.carlisleinsagency.com
