Standard Life’s Term Life Policies: Over Standard Riders
(Effective January 1, 2012, Standard Life will no longer sell individual life insurance and critical illness policies).
Standard Life offers a Term 10 and Term 20 insurance plan. The Term 10 plan is available to individuals aged 18 to 70, and the Term 20 plan is available to individuals aged 18 to 65. Both plans are renewable to age 85 and they are convertible up to age 65. The plans also allow you to add a wide selection of riders, including 10-year or 20-year term life riders, critical illness insurance rider, children’s life rider, children’s enhanced protection rider, guaranteed insurability benefit, accidental death benefit, and a waiver of premium on disability.
Their term insurance plans are also available on an individual or joint first-to-die basis.
Individuals who are in good health and have a very good family health history can qualify for preferred rates; better yet, those in excellent health can get a super preferred rate. On the downside, plans are not available at face amounts under $100,000; this can be problematic for older applicants on a tight budget.
Below are examples of Standard Life’s Term 10 rates at $250,000 of coverage:
Insured...........Standard Rates:...Preferred Rates:
35-yr male N/S:...$20.70/month…....$16.43/month
45-yr male N/S:...$38.48/month…....$28.58/month
55-yr male N/S:...$83.93/month…....$61.20/month