Term Life Insurance

Term Life Insurance
Term life insurance is a popular form of coverage that allows you to purchase large amounts of protection at attractive premium rates. Term insurance is ideal for protecting a mortgage, providing replacement income or funding your child’s college costs in the event of your premature death.*

Policy Features
Erie Family Life’s term coverage offers:

  • Coverage up to age 95
  • Premiums that remain level during the term period selected
  • Term periods that range from 10 to 30 years
  • Minimum policy size: $50,000
  • Options to convert your term policy to a permanent life policy before the level term ends or before age 70, whichever comes first. Erie Family Life guarantees this conversion privilege regardless of health, occupation or hobbies.

Issue Ages

  • Minimum issue age: 15 days
  • Maximum issue ages:
    • 10-year plan: age 70
    • 15-year plan: age 65
    • 20-year plan: age 60
    • 30-year plan: age 50 or age 47 for male tobacco users

Riders Available

  • Premium Waiver Benefit – Allows insurance protection to continue, with no further premium payment required, if you become totally disabled for more than six months.
  • Children’s Term Insurance Rider – Covers all children age 15 days through 18 years for $1,000 to $10,000. At age 25, each child may convert up to five times the coverage amount to a maximum of $50,000.
  • Our agency will help you consider the options. You could also save up to 5 percent on your auto and home insurance policies with a qualifying life policy. Contact us today to discuss whether term life insurance is the best match for your life insurance needs.

    *Erie Family Life products are not available in New York.