Simple Choice Term Life Insurance: Flexible, Dependable Coverage
Term life insurance can be an effective financial solution for people who need coverage for a specific period of time.
When you have children, a mortgage or other major expenses, life insurance may not be the first thing on your mind. But not having coverage may put your family's financial future at risk. Simple Choice Term Life Insurance provides affordable protection that helps suit your immediate life insurance protection needs.
Your premium is guaranteed to remain the same for the coverage term you select: 10, 15, 20 or 30 years regardless of your age or health. If you pass away at any time during your policy term, your beneficiary will receive the guaranteed death benefit – funds that can help protect your loved ones.
Benefits of Simple Choice Term Life Insurance
Flexible and dependable to fit your needs, Simple Choice Term Life Insurance offers affordable protection:
Choose coverage amounts starting at $25,000
Your premiums stay the same for your chosen coverage term: 10, 15, 20 or 30 years
Guaranteed death benefit at any time during your coverage period
Option to convert to permanent insurance after policy is issued
Accelerated Death Benefit Rider if the insured has a chronic and/or terminal illness
Because of its affordability, many start by purchasing term life insurance policies and then, as your needs change, you could convert some or all of your policy to permanent life insurance to help give your family an even greater level of financial security. Consider term life insurance if:
You are just starting out and your primary focus is on yourself and your own security.
You are making big changes in your life as you begin or change careers, get married, purchase a first home or start planning for a family.
You are beginning to understand the importance of insurance due to increasing financial burdens, new assets and having loved ones to protect.
After the coverage period, if you choose, you can renew coverage annually with an increasing premium scale. During your term period, you can also choose to convert to a permanent insurance policy.
For 10 year term life insurance policies, you can convert to permanent insurance up to 5 years after the policy is issued. For 15, 20 or 30 year policies, you have up to 10 years to convert to permanent insurance.
You can personalize your Simple Choice Term Life Insurance policy by adding riders, or add-ons, to your policy at issue. Available at an additional cost, benefits include: Accidental Death, Waiver of Premium, Children's Term Coverage, and more.
Explore Additional Resources
Learn More About Term Life
Term life insurance may be more affordable than you think.
80% of consumers who believe they need life insurance haven’t bought it because they think it is too expensive. (Life Happens, April 2015)
80 percent of consumers misjudge the price for term life insurance, with Millennials overestimating the cost by 213%, and Gen Xers overestimating the cost by 119%. (Life Happens 2015)
In 2016, there was a significant decline in life insurance coverage adequacy for U.S. households. In 2010, those insured had coverage to replace their income for 3.5 years. Today that has dropped to 3 years, which is far lower than most industry recommendations. (Limra Facts 2016)
The average insured adult has 3.6 times his or her annual income for life insurance coverage, or $166,600. Salary: $46,333, Life Insurance: $166,800. (How much life insurance do you need? By Barbara Marquand Posted : September 12, 2017. Insurance.com 2017)
But is it enough to provide for all of your family needs?
As a general rule of thumb, it is recommended that you have 8-10 times your salary in life insurance. However, this may be too much, or not enough. Everyone’s personal needs are different. We can help you determine how much is right for you. Talk to us today.
Annual Renewable Convertible Term Policy Series 0701-306 WSA issued by Western-Southern Life Assurance Company. Renewable and Convertible Term Policy Series 0701-307 WSA and 0701-307-U WSA issued by Western-Southern Life Assurance Company.
Western-Southern Life Assurance Company, Cincinnati, Ohio, operates in DC and all states except AK, ME, NH, NY and RI.
Draft Your Financial Game Plan
Draft Your Financial Game Plan With Us Please see important information following this video.
Hi, I am Cris Collinsworth and I am here to remind you of three strong points to keep in mind when you are drafting your financial game plan.
First, financial strength is a key player. The strength of Western and Sothern Financial Group speaks for itself. Western and Southern has a heritage dating back to 1888, an impressive capital position, and stability demonstrated throughout challenging economic times.
Second, is industry ratings. The insurance companies that I am talking about are proud of their industry ratings, such as an A+ from A.M. Best and a remarkable 96 out of 100 Comdex ranking.
Third, and just as important, is consistency. Consistency that comes from steady deep-seeded conviction in our products and services.
You just can’t beat this combination.
Western & Southern Financial Group
Products issued by member companies of Western & Southern Financial Group, Inc., Cincinnati, Ohio.
A.M. Best rating of A+ Superior for Superior ability to meet ongoing insurance obligations (second highest of 16 ratings; rating held since June 2009).
Comdex ranking of 96 out of 100. The Comdex Ranking is a composite of the financial strength ratings as determined by Standard & Poor’s, Moody’s, A.M. Best, and Fitch ratings. It ranks insurers on a scale of 1 to 100 (where 1 is the lowest) in an effort to reduce confusion over ratings because each rating agency uses a different scale.
Ratings are subject to change from time to time. The ratings shown here are correct as of 01/31/2017.
Major rating agencies issue public ratings on the member insurance companies affiliated with Western & Southern. Financial strength ratings apply to the individual member insurance companies affiliated with Western & Southern.
Life insurance and annuity products are not bank products, are not a deposit, are not insured by the FDIC or any other federal entity, have no bank guarantee and may lose value.
Life Insurance Facts
84% of Americans would agree most people need life insurance, yet when asked, only 70% said they needed any. (Insurance Barometer Study Limra & Life Foundation 2017)
In the event of a tragedy, life insurance can help pay bills, continue a family business, finance children’s education and protect spouse’s retirement plan. (LIFE Happens, 2017)
If the primary wage earner died, 62% of families would immediately have trouble meeting everyday living expenses. 43% of families would have trouble meeting expenses after several months. (Trends in Life & Insurance Ownership Limra 2016)
One in Five households with children under age 18, have no insurance whatsoever. (Limra Facts About Life2016)
Over 100 million adults without life insurance in the United States (“2015 Insurance Barometer Study”, Ashley Durham, LIMRA and Life Happens, April 14, 2015)
7 in 10 U.S. households own life insurance on average the only own enough to replace their household income for 3 years (2016 Insurance barometer Limra)
Almost 45% of U.S. Households say they are likely to buy life insurance in the next 12 months. (Limra Facts About Life 2016)
43% of those age 25-44 are concerned with leaving dependents in a difficult situation should they die prematurely. (2015 Insurance Barometer Study, Life Happens and LIMRA)
Top three reasons for not having life insurance are: 66% say it’s just too expensive for them. 66% say other financial priorities take higher precedence. 54% feel they have as much as they need right now. (Insurance Barometer Survey, 2017)
We can help you insure the ones you love. Start Now.
Western & Southern Financial Group
The Western and Southern Life Insurance Company, Cincinnati, OH, operates in DC and all states except AK, CT, ME, MA, NH, NY, and VT. Western-Southern Life Assurance Company, Cincinnati, Ohio, operates in DC and all states except AK, ME, NH, NY, and RI.
Western-Southern Life Assurance Company, Cincinnati, Ohio, operates in DC and all states except AK, ME, NH, NY and RI. Renewable and Convertible Term Policy series 0701-307 WSA and 0701-307-U WSA issued by Western-Southern Life Assurance Company.
Payment of benefits under the life insurance policy is the obligation of, and is guaranteed by Western-Southern Life Assurance Company. Guarantees are based on the claims-paying ability of Western-Southern Life Assurance Company. Products are backed by the full financial strength of Western-Southern Life Assurance Company. Product and feature availability, as well as benefit provisions, vary by state.
Increases in coverage are subject to new underwriting. Once the policy has renewed to annual renewal term rates, no conversion is allowed.
In addition to our life underwriting rules, chronic illness underwriting will be used to determine eligibility for our various accelerated death benefit riders. Ask your financial professional for more information about our accelerated death benefit riders.
Ready to Continue?
You have clicked a link to access information on a new website, so you will be leaving westernsouthern.com.
Because this new site is independent, Western & Southern Financial Group neither manages nor assumes responsibility for its content.