Nordic Term Life Insurance can provide you and your family with maximum coverage for minimum cost. It is designed to meet your individual needs for a specific period of time, and can be converted to permanent cash-value life insurance.
Who is it for?
- Young couples who need to provide financial protection in the most economical way.
- Parents who want to provide for the health, education, and shelter needs of their children in the event of their own untimely death.
- Individuals who already own a universal life program, but for a specific period of time need to supplement their long-term financial plan.
- Business owners who need to protect their partners from catastrophic financial loss in case one of them dies.
- Anyone who needs insurance for a specific period of time.
Getting started with term life insurance
Term life insurance gives you the highest amount of benefits at the lowest possible cost, with the flexibility to design your program:
- Choose the amount of protection.
- Choose the initial term period of 10, 15, 20 or 30 years.
- Following the initial level term period you choose, you can continue your coverage to age 95 by paying increasing annual premiums.
Guaranteed conversion option
- A guaranteed conversion option is available for the first twenty years of the certificate or to attained age 70, if earlier. This allows for conversion to any permanent plan of insurance offered by Sons of Norway without evidence of insurability.
- Conversion is at attained age of the insured and to the same class.
- The insured will receive a conversion premium credit if the certificate is converted to a permanent plan of insurance within five years from the date of issue. *
Waiver of premium rider
Sons of Norway's Nordic Term Life Insurance offers an added benefit: a waiver of premium rider. Premiums are waived if the insured has been totally disabled for more than six months prior to age 65. The premium is waived during the period of disability, even if the disability extends beyond age 65.
Let's talk about term life insurance.
This page describes certificate series T06.
*Different rules in New Jersey and New York. Coverage end at age 80 in New York.