What is Term Life Insurance?
Term life insurance provides coverage that guarantees the payment of a death benefit for a specific amount of time that usually ranges from one to 30 years. These policies are commonly bought to provide financial protection at a certain time in someone’s life such as after buying a new house, getting married or welcoming a new addition to the family.
After a term life insurance policy’s term expires, the policyholder has several options including, renewing the policy for an additional term, cancelling the policy or converting it to permanent coverage like a whole life policy. Term life insurance is a popular option because of its flexibility and cost savings as these policies typically have lower premiums than other types of life insurance.
What is Whole Life Insurance?
Whole life is one of the most common types of life insurance, and like other types of life insurance, it provides financial protection in the event of the insured’s death. The purpose of whole life insurance is to provide permanent coverage, so these polices can last for the life of the insured as long as premium payments are made.
Whole life policies are different from term life polices in several ways. Two of the key benefits of a whole life insurance policy are that the death benefits are guaranteed and these policies build a cash value over time, which can be borrowed against or withdrawn by the policyholder. Also, whole life insurance premiums do not change for the life of the policy, but they are typically higher than term life premiums for most policyholders.
Cancer Insurance Products
Cancer shows no favoritism. Everyone is at risk. Cancer isn’t just a devastating disease. Cancer can also be devastating to your family’s finances. But if you are diagnosed with cancer, you don’t have to endure the financial strain of cancer alone.
Cancer Endurance
The Cancer Endurance Plan is designed to pay a one-time, lump sum First Occurrence benefit, with additional specified benefits payable for the treatment of cancer. The plan’s benefits do not reduce as you age. And, most benefits have no lifetime maximums, meaning our plan will be with you or your family member for the entirety of treatment, providing benefits repeatedly when help is needed most (subject to payment of premiums).
Cash Cancer
The Cash Cancer Policy is a one-time, lump sum benefit supplemental policy for the first-time written diagnosis of cancer. Choose a cash benefit amount up to $50,000 to be used in whatever manner you see fit. Use it for deductibles and coinsurance or any treatment you and your doctor deem appropriate. Use it to help cover lost income, pay the mortgage, or other bills.
Accident Insurance
Accidents can happen anytime, anyplace, 24 hours a day. You need around-the-clock protection.
Accident Protector Max
Accident Protector Max is designed to provide coverage for certain losses resulting from a covered accident only and is subject to any limitations contained in the policy. Coverage is not provided for any loss resulting wholly or partially from sickness.
Accidental Death
Accidental Death gives you the full coverage listed in your policy until you reach age 75. We cannot cancel, restrict, or refuse to renew your policy as long as you pay premiums and have not reached age 75. Premium rates for the Accident Policy are guaranteed.
Introductory ADP
In addition to these accident policies, we have designed a fantastic introductory offer which provides another option to protect your family. You can read more about it on our Introductory Offers page.
Critical Illness Insurance
Even though a person’s chances of survival have increased, surviving a critical illness comes with a cost! Be prepared financially with our Critical Illness Protector.
The Critical Illness Protector is designed to pay a one-time, lump-sum benefit upon first written diagnosis of a covered critical illness. Covered illnesses include: heart attack, major organ transplant, stroke, total loss of eyesight, end stage renal failure, total loss of hearing, and may cover cancer (if requested).
Hospital Intensive Care Insurance
Did you know the cost for intensive care treatment often needed during a major illness or accident is considerably higher than the normal daily hospital room charge? That’s why we developed specific coverage for intensive care.
These benefits have been designed for Hospital Intensive Care Unit confinement due to sickness or injury. Benefit amounts may increase if confinement is a result of automobile or travel accident. Additional benefits may also be available for regular hospital room, blood and ambulance service.
Hospital Accident Insurance
At Globe Life Liberty National Division, we can’t prevent accidents. But we can help you cover the cost of accident-related hospitalization and/or emergency treatment should you need it.
Hospital Accident is designed to provide coverage for certain losses resulting from a covered accident only, subject to limitations included in the policy. It pays in addition to workers’ compensation or other insurance the insured may have. Coverage is not provided for basic hospital, medical/surgical, or major medical expenses. This policy does not pay benefits for a loss from sickness.