Erie Life Insurance Calculator

How to Calculate Life Insurance

Minors as Beneficiary Designations

 

Life Insurance

What carries the only guarantee to provide for your family at your death?

Investments will change value based on market conditions. Rental income will change based on real estate conditions. The only tool with a guarantee - Life Insurance.

Whether you select Term, Permanent, or a blend, please make a commitment to your family and their security.

Term

Term Insurance is the most cost-effective option to insure for short-term needs. Plans are available from one year, "Annual Renewable" to plans that lock the rate at your present age for a set term - 10, 20, or 30 years.

Permanent

Though Term has the premium advantage, it has a serious shortcoming - it ends! When the term ends, it places you back in the insurance market at an older age. Some Permanent Insurance should be the base if your life-insurance protection. The policy will continue in later years when Term Insurance ends. Many plan types are available including Universal Life, Whole Life, 20-Pay Life.

Annuities

Your personal Retirement Savings Account! Here is your chance to put money into an account that pays you great dividents, competitive interest rates and the stability of Erie Family Life backing your savings. Erie Annuities also offer:

• Stability
• Tax Deferred Earnings
• Flexibility
• Guaranteed Savings
• Personal Service

These great benefits can also be used for:

• Roth IRAs (Individual Retirement Accounts)
• Traditional IRAs
• Qualified Retirement Plans
• IRA/401K Rollovers

Life Insurance Riders

There are many riders that can be added as part of your Life Insurance policy. Some of the more common riders are shown below:

• Accelerated Death Benefit - allows insureds who are diagnosed as terminally ill or require long term care to collect all or part of the death benefit from their life insurance policy while they are still alive.
  
  
• Accidental Death Benefit - allows an additional amount to be paid to the beneficiary in the event an insured dies as the result of an accident. The amount is usally the same as the basic death benefit and thus often referred to as double indemnity.
  
  
• Children's Term Insurance Rider - adds term insurance coverage on the insured's children to the permanent life policy.
  
  
• Guaranteed Insurability Rider - allows the policyowner to purchase additional amounts of coverage at specified intervals (age specific or policy year specific) without requiring further evidence of insurability.
  
  
• Waiver of Premium Disability Rider - applies to ERIEflex and Erie term plans. The planned premium is waived while the insured is unable to work prior to age 60 due to sickness or injury.

If you would like more information or cost on any of the above riders, please feel free to contact our office.

We offer a full line of life insurance products for your personal and business needs including Whole Life, Universal Life, Term, Mortgage Life, Annuities, Retirement Plans, and Group Life.