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Offered through The Northwestern Mutual Life Insurance Company Term 10 is a great product for those needing significant amounts of
coverage for limited periods of time at a minimal cost.
If your business is growing or if your
personal lifestyle is changing due to increased financial responsibility, you may need to consider a Term
10 policy.
Term conversion options exist for a Term 10 policy. It can be converted
to permanent life insurance during the first three years of the policy
without providing additional evidence of insurability. |
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Death Benefit
Conversion Rights
Premiums
Premium Illustration*
Specifications
Optional Policy Benefits
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Term 10 provides a death benefit for 10 years. |
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Term 10 may be converted to a
permanent single life insurance plan without additional proof of insurability for the earlier of the first three policy years or the policy anniversary nearest age 71. Partial conversions are permitted, but the remaining term policy must
have a minimum face value of $250,000. The premium on the new policy
will be based on the insured's age at the time of the conversion. |
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Premiums are payable for the entire coverage period. Scheduled premiums start out low, increase annually, and are guaranteed for the first five years of the
policy. After five years, they may increase above the scheduled rate,
but not beyond the amount specified in your contract. |
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Sample annual premiums for a $500,000 policy. |
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| | | | Issue Age: | | Male: | | Female: | | Sex-Neutral**: | | | | | | 45 | | $476.00 | | $451.00 | | $476.00 | | | | | | | 50 | | $644.00 | | $619.00 | | $644.00 | | | | | | | 55 | | $958.00 | | $838.00 | | $948.00 | | | | | | | 60 | | $1,481.00 | | $1,261.00 | | $1,461.00 | | | | | | | 65 | | $2,699.00 | | $2,054.00 | | $2,634.00 | | | | | |
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*TT Term Series, premier non-tobacco premiums. 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). Term 10 premiums are guaranteed for five years. After five 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 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: | | | | | | 40-70 | | $250,000 | | | | | |
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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 40-59.
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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