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Please join our Association by purchasing a
Life Insurance Certificate (Policy) today.
We will be happy to have you as a New Member
of the William Penn Association.
We are licensed in the following states:
CA, CT, DC, FL, IL, IN, KY, MD, MA, MI, MO,
NE, NJ, NY, OH, PA, VA, WV, and WI.
To see a list of agents in your area,
click here. |
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10-20-30 Year Level
Term
This is a level term
insurance contract. The death benefit is level for the
duration of the contract. Premiums are level for the
initial period of 10, 20 or 30 years only. At the end of
the initial term period, premiums increase annually (to
age 95) based on the table of annual renewal premiums in
the contract.
The minimum and maximum issue ages vary by the term
period chosen. Please refer to the table below. Please
note the minimum issue age is 20.
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PLAN
|
MINIMUM |
MAXIMUM |
CATEGORY |
|
10 Year Level Term |
20 |
70 |
All |
|
20 Year Level Term |
20 |
60 |
All |
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30 Year Level Term |
20 |
50 |
Preferred &
Standard Non-Smoker |
|
30 Year Level Term |
20 |
45 |
Smoker |
The minimum base plan face amount of insurance for
smokers and Standard non-smokers is $10,000 and for
Preferred non-smokers is $100,000. There is a $50.00
annual certificate fee for face amounts under $100,000.
For face amounts of $100,000 or more, there is no annual
certificate fee.
The 10-20-30 Year Level Term plans can be issued as a
Rider provided that the base plan premium period is at
least as long as the initial term period of the Rider.
The minimum Rider face amount is $10,000. A minimum,
permanent (except SPWL) base plan of $10,000 or more is
required with the maximum Rider face amount of $300,000.
For permanent base plan of $25,000 or more, the maximum
Rider face amount of $1,000,000. There is no annual
certificate fee when issued as a Rider.
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