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 college for a child in the event of a premature death.

Erie Family Life’s term coverage* provides coverage to age 95. The face amount of the policy remains level and the policyowner can select from a 10, 15, 20 or 30-year guaranteed level premium period.

A return of premium rider is also available on the 15, 20 and 30-year plans. This rider provides a full refund of premium, rider and policy fees if the policy remains in force at the end of the level term period.

Policy Features

• Minimum policy size: $50,000
• Rate Classifications: Ultra Select Non-Tobacco, Super Select Non-Tobacco, Select Non-Tobacco, Standard Non-Tobacco, Select Tobacco and Standard Tobacco. Availability of rate classifications varies by issue age and amount of coverage.
• While the policy is in force, you may convert it to cash value insurance during the guaranteed level premium period or until age 70, whichever is earlier (guaranteed minimum of 5 years convertibility), without evidence of insurability. We guarantee 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
  • 30 year plan: age 47 (all states) for male Select Tobacco and Standard Tobacco Classes

Riders Available

• Return of Premium** – This rider provides a full refund of premium, rider and policy fees if the policy remains in force at the end of the level term period.
• Premium Waiver Benefit – This rider allows insurance protection to continue, with no further premium payment necessary, if you become totally disabled for more than six months.
• Children’s Term Insurance Rider – This rider is designed for individuals to include limited amounts of term insurance coverage on their children.

* Erie Family Life products are not available in New York.
** The Return of Premium Rider is not available in Pennsylvania.

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