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Individual Life

What Is Individual Life Insurance?

Individual Life Insurance provides coverage for an individual, usually the purchaser.

Church Life offers Individual Life Insurance through our third party providers, Protective Life, Prudential Life and the Principal Financial Group®:

Universal Life Insurance is a permanent form of life insurance with built-in flexibility.

Custom Choice1 is an alternative to term universal life insurance offered by Protective Life which provides a level benefit for a period of time to help ensure that your family can address important financial needs expected within that time frame, such as mortgage payments, college expenses, or other financial goals (i.e. allowing your spouse to save for his/her retirement). After your initial level benefit period ends, your guaranteed death benefit will begin to decrease while your premium amount remains level. The death benefit will continue to decrease each year until it reaches the minimum of $10,000. At that point, your premiums will increase each year.

Custom Choice enables you to:

  • Choose the amount of coverage (death benefit) you want and an initial level benefit period anywhere from 10 years all the way up to your lifetime.
  • Adjust the death benefit amount without having to buy a new, separate policy.
  • Pay a level premium for your lifetime, for a certain period of time, or adjust premiums to correspond with your expected income level.
  • Exchange your policy for permanent universal life insurance with a level death benefit and premium amount--anytime in your first 20 policy years up to age 70, without going through more medical exams. You can exercise this option if you want to maintain your initial death benefit beyond the initial level benefit period.
  • Customize your coverage with:
    • Terminal Illness/Accelerated Death Benefit provision
    • Accidental Death Benefit Rider
    • Children’s Term Rider
    • Disability Benefit Rider
    • ExtendCare Rider
    • Income Provider Option

Have questions about Custom Choice?

Request a complimentary discussion

 

Advantage Choice1, offered by Protective Life, offers potential cash-value accumulation, lifetime protection and flexible features. A portion of each premium payment is put aside and accumulates earnings on a tax-deferred basis. You can access this money to meet any planned or unexpected financial needs and are generally not taxed once you withdraw the funds. Your death benefit is a non-taxable lump sum that is directly payable to your beneficiaries.

Advantage Choice enables you to:

  • Decrease your amount of coverage without having to buy a new, separate policy, if your needs change.
  • Pay a level premium for your lifetime, for a certain period of time, or adjust premiums to correspond with your expected income level.
  • Customize your coverage with a(n):
    • Terminal Illness/Accelerated Death Benefit provision
    • Accidental Death Benefit Rider
    • Children’s Term Rider
    • Disability Benefit Rider
    • ExtendCare Rider
    • Income Provider Option

Have questions about Advantage Choice?

Request a complimentary discussion

 

Principal Term Life2 is offered to residents of New York and offers affordable protection for 10, 15, 20 and 30-year term policies. The policies can provide protection from short-term needs such as paying off a mortgage or financing your child’s education as well as long term needs such as income replacement to maintain your family’s lifestyle.

  • You have the option to convert your term policy to cash-value life insurance, without providing evidence of insurability.

Have questions about Principal Term Life?

Request a complimentary discussion

 

Term Essential® and Term Elite®, offered by Prudential Life, are term life policies which offer cost-effective coverage. They provide coverage for a set time period (such as 10, 20 or 30 years) to help ensure that your family can address important financial needs expected within that time frame, such as mortgage payments, college expenses, or other financial goals (i.e. allowing your spouse to save for his/her retirement). After your level-benefit period ends, you can continue coverage; however, your premiums will increase each year.

Have questions about Term Essential® and Term Elite®?

Request a complimentary discussion

Not available in New York State.
New York State residents only.

Life insurance and annuities are offered by or through Church Life Insurance Corporation, 19 East 34th Street, New York, NY 10016.

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