Junior Estate Builder
What Is It?
This plan offers term life insurance protection until age 25.
On the anniversary date of the policy after the 25 birthday, the policy converts to whole life insurance automatically.
• Once converted, the policy starts building cash value – which means the policyholder can take a loan against the policy or withdraw cash value if they cancel the policy.
• Once converted, the policyholder has three opportunities to increase the coverage amount – a $15,000 policy can increase up to a total of $60,000 coverage, and a $20,000 policy can increase up to a total of $80,000 coverage.
Who’s eligible to apply?
• Any immediate family member – including a parent (natural and step), grandparent, great-grandparent, sibling who is 18 or older, or legal guardian – can apply for coverage for a child age 0-24.
• Both the child and the person who buys the policy must live in a state where we offer this policy but they do not have to reside in the same state.
U.S. Citizens or U.S. Permanent Resident Card (green card) holders who have lived in the U.S. for a minimum of one year.
Choose your coverage amount
$15,000 term life coverage – $35.00 Annual Premium
$20,000 term life coverage – $45.00 Annual Premium
How the plan works
Starts as a Term Life insurance coverage
The term life insurance policy has no cash value.
If the insured dies while the policy is in force, the policy pays 100% of the selected coverage amount – $15,000 or $20,000.
Turns into Whole life insurance coverage
• Once converted, the policy begins building cash value, which is guaranteed for life.
• Cash value can be withdrawn or borrowed against. • The policyholder can elect to increase their coverage by the original coverage amount ($15,000 or $20,000) at the ages of 25, 28, and 31. • If the insured dies while the policy is in force, the policy pays 100% of the selected coverage amount, minus any loans and interest.
For more information please call our office at 623-224-4226 or email us at email@example.com.