|
If you are health conscious, there's yet another benefit to clean living: You could qualify for substantial financial savings -- that is money in your pocket -- with a new low-cost term life insurance policy.
Illinois-based Zurich Life Insurance Co. of America has introduced an innovative, no-frills policy that may save consumers in good health up to 70 percent off comparable policies offered by other insurers. Called Super Select Term, the policy is designed for healthy individuals who meet specific criteria including, but not limited to, no history of tobacco, drug or alcohol abuse, a good driving record, normal blood pressure, and are of normal height and weight proportions.
For insurance shoppers seeking value and convenience, this new policy is offered direct, via a toll-free number, with premiums that are locked in for a decade. It can also be purchased through Zurich's nationwide network of 2,000 agents.
Super Select Term has several key features that differentiate it from other term life insurance policies:
-- Healthy individuals are rewarded with one of the lowest premiums in the industry, based on a survey of 150 companies by CompuLife. For example: At just $40/month, a 45-year-old male, who is a non-tobacco user and is in good health can enjoy the protection of a $250,000 term life insurance policy offers -- while a 45-year-old male tobacco user who has a poor health history could pay up to $130/month in premiums for one year for a similar term life insurance policy.
-- Premiums are guaranteed not to increase during the first 10 years of coverage, no matter what happens to the health of the policy-holder. The policy is guaranteed renewable to age 90.
-- The plan is convertible to age 65 to a Zurich Life permanent life insurance policy.
-- Following a telephone interview with a Zurich Direct account executive, caller receives a quote for a 10-year guaranteed rate.
Callers then must complete an application. After that, a paramedic will schedule and administer a brief, no-cost exam at the applicant's home or office. Final approval usually follows within three to five weeks after the exam. Super Select Term, like all term life insurance policies, provides basic protection for the beneficiaries of the insured. If the insured dies during the life of the term insurance policy then beneficiaries are paid the face amount of the policy by the insurance company. Unlike whole or universal life, term insurance has no cash value upon termination of the policy -- which is why it is the least expensive life insurance product.
"Our customers are a very health-conscious group of consumers," said Jim Harkensee, chief operating officer of Zurich Direct Insurance Agency, a subsidiary of Zurich Life Insurance Co. of America. "They are healthy, they exercise, avoid unhealthy habits, and work hard to maintain good health. By setting up guidelines that follow this lifestyle philosophy, we are in essence rewarding their efforts by not requiring them to subsidize higher risk individuals."
|