Group Voluntary Term Life Insurance to Age 120 from Madison National Life Insurance Company, Inc. creates value for a lifetime of needs by providing a lump-sum payment in the event of death or diagnosis of a Terminal, Critical or Chronic illness.
More than 50% of Americans say they would have immediate or near immediate trouble paying for basic living expenses if the primary wage earner died1.
Strengthen your workforce by helping workers’ reduce the financial impact of lost income with Group Voluntary Term Life Insurance to Age 120 through Madison National Life.
This voluntary group term life insurance pays a lump sum benefit that can help ensure peace-of-mind for life’s many challenges, such as:
- Paying for medical expenses associated with a terminal, critical or chronic illness
- Maintaining the family’s lifestyle
- Funding a child’s education
- Meeting household expenses each month, including mortgages and auto loans
- Taking care of funeral and final expenses
Benefit designs are customizable and can be scaled up or down depending on the budget and need.
Advantages of Madison National Life’s Group Voluntary Term Life Insurance to Age 120
- Premiums are level based on age at time of issue. Once enrolled, premiums will never increase and are level through age 120
- Simple Application – no tests, examinations or long medical questionnaires. Insurance is available on a guaranteed issue basis. Where evidence of insurability is required, a brief medical questionnaire must be completed.
- Spouse and dependent children insurance available
- 24-hour coverage (on and off job)
- Upgrade to one or more options:
- Waiver of Premium – when permanent or prolonged disability happens, insurance will remain in force with no further premium payment required
- Accidental Death Benefit – in the event of an accidental death, an additional 50% to 100% of the life insurance benefit may be received
- Accelerated Life Benefit – allows for early or accelerated payment (up to pre-defined amount) of the life insurance benefit upon the diagnosis of a terminal, critical, and/or chronic illness
- Non-Cancellable – insurance cannot be cancelled except for non-payment of premium
- Portability – retain insurance, regardless of employment status
For a complete explanation of benefits offered, including list of limitations and exclusions, please see the Certificate of Insurance to learn more. Not available in all states.
- LIMRA Facts About Life (September 2017) https://www.limra.com/uploadedFiles/limra.com/LIMRA_Root/Posts/PR/LIAM/PDF/Facts-of-Life_2017(1).pdf