Term life insurance is the simplest type of life insurance protection you can buy, and generally has the lowest out-of-pocket cost to obtain death benefit protection for a short-term.
Term life insurance:
•Provides guaranteed death benefit protection with a level premium for 10-, 15- or 20-years.
•Can be converted to a permanent policy, even if your health deteriorates.
•Does not offer a savings component, cash accumulation or loan features.
Term life insurance product choices
Ohio National offers 10-, 15- and 20-years of term life insurance. All products are available with either a “Basic” or “Plus” conversion option.
Term 10, 15, and 20 “Basic” level term policies provide bottom-line pricing and a limited conversion option. If you never intend to purchase a permanent product, a Basic product may be the right choice for you.
Term 10, 15, and 20 “Plus” level term policies offer expanded conversion options to an Ohio National permanent life insurance product including our industry leading whole life, universal life or variable universal life insurance policies – for a just a few dollars more per month.
If you intend to purchase permanent protection in the future, a Plus policy may offer you a better value.
Choosing the perfect life insurance plan depends as much on your financial needs as it does on your health class rating. We will assess all factors and guide you through every option until we find the perfect plan for you.
Cosmo Insurance Agency is knowledgeable in various options including but not limited to – term, ROP, permanent and whole – from over two dozen A rated carriers. We are familiar with the rate classifications that particular carriers use to determine the health class of enrollees – and there are significant differences between them. No matter what the results of your medical examination are, we will find the insurer that will provide you will the best rating class and thus the lowest premiums.
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