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Offered through The Northwestern Mutual Life Insurance Company Level Term 10 insurance is designed to cover a temporary need, yet
offers 20 years of coverage. One benefit of Level Term 10 is the
guaranteed level premiums for the first ten years of the policy, which
makes it easy to budget effectively and plan for future insurance costs.
This product is especially appropriate if you have a short- to
moderate-term need for coverage and don't know if you will need
permanent insurance. If you have a personal need such as children in
college or an outstanding mortgage or a business need such as repayment
of an expansion loan, Level Term 10 may be just the solution. Term conversion options exist and Level Term 10 can be converted to
permanent life insurance during the first ten years of the policy
without additional evidence of insurability. |
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Death Benefit
Conversion Rights
Premiums
Premium Illustration*
Specifications
Optional Policy Benefits
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Level Term 10 provides a death benefit for the earlier of 20 years or age 80. |
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Level Term 10 may be converted during the first ten years of the policy
to a permanent single life insurance plan without providing additional proof of
insurability. Partial conversions are permitted, but the remaining term
policy must have a minimum face value of $50,000. |
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Premiums are paid for the entire coverage period. Scheduled premiums are
guaranteed level for the first 10 years and will automatically renew to
a higher scheduled level premium for the remaining years of coverage,
but not beyond the amount specified in your contract. |
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Sample premiums for a $500,000 policy. |
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| | | | Issue Age: | | Male: | | Female: | | Sex-Neutral**: | | | | | | 25 | | $292.00 | | $232.00 | | $287.00 | | | | | | | 35 | | $331.00 | | $311.00 | | $331.00 | | | | | | | 45 | | $656.00 | | $606.00 | | $651.00 | | | | | | | 55 | | $1,391.00 | | $1,116.00 | | $1,366.00 | | | | | |
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*TT Term Series, premier non-tobacco premiums. Level Term 10 is an indeterminate premium contract. The scheduled premiums of indeterminate premium contracts are based on the company's expectations with regard to factors such as interest rates, expenses, mortality and persistency (the length of time policyowners keep their policies). Level Term 10 premiums are guaranteed for ten years. After ten years (with regulatory approval), the company may charge more than the scheduled premiums if the company's expectations regarding pricing factors change. The new premium, although scheduled to be level, is not guaranteed and may be increased on subsequent policy anniversaries to the maximum premium levels printed in the contract and sales illustration. An increase in the premium will not result in an increase in benefits. **A sex-neutral policy is available in Montana and is also available when provided by an employer as an employee life insurance fringe benefit. |
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| | | | Issue Ages: | | Minimum Policy Size: | | | | | | 18-65 | | $100,000 | | | | | |
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Waiver of Premium—Waives the payment of all premiums
that come due during the disability of the insured person. For premiums
to be waived, total disability must exist continuously for a period of
six months and result from an accident or sickness. Total disability is
defined in the terms of the policy contract. Available for insured
persons 18-59.
This benefit is subject to underwriting and additional cost. |
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To learn more, contact
one of our Financial Representatives |
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