![]() That's true for most life insurance products that simplify the underwriting process. The key downside? TermNow premiums are significantly higher. ![]() If there are no issues, Primerica issues coverage within a few minutes. Instead, you allow the company to run background checks through the Medical Information Bureau and DMV. Since the payout is limited, Primerica allows you to go through a simplified underwriting process with no medical exam. TermNow is an option if your life insurance policy has a death benefit between $15,000 and $300,000. ![]() TermNow policies are limited to $300,000 or less in benefits Most insurers only offer "decreasing" benefits because financial obligations tend to drop with age.Ĭustom Advantage is significantly cheaper than TermNow This rare add-on is available until the policyholder is 55. With its "increasing benefit rider," you can increase the death benefit of your policy by up to 10% per year for 10 years. Each rider will typically increase your premiums by a small amount. Primerica also offers several riders that allow you to customize a term policy to your financial situation. And if you do qualify, the cost would be incredibly high. If you had a normal policy and got cancer during the original term, for example, you might not qualify for a new policy. Guaranteed insurability can be an incredibly valuable feature. The premium may increase, but it would only be due to age. All of Primerica's policies offer a "guaranteed insurability" option, which means you can renew your policy without a new health exam or application until age 95.
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