Whole Life Insurance
Term Life Insurance is an excellent benefit to help protect your loved ones should something unexpected happen to you during your working years. Whole Life Insurance is an ideal complement to your group term life insurance and will help protect your loved ones today and, more importantly, tomorrow. Whether you're single, have a spouse/domestic partner, or a growing family, someone depends on you.
Purchasing Whole Life Insurance, offered through Texas Life Insurance Company, may be a great supplement to your employer-offered plan because it helps protect your loved ones should something happen to you for your entire life, not just while you're working. Whole Life Insurance is a policy that you own; it can never be cancelled, even if your health changes.2 Because you own it, you can take it with you when you change jobs or retire with no change in the premium. It helps ensure that short- and long-term financial obligations could be taken care of if something unforeseen should happen.
Almost 9 in 10 Americans view life insurance as a necessity; however, only 6 of 10 Americans say they actually own some sort of life insurance, with half of American households saying they needed more life insurance.3 It's important to take steps to make sure your family would be financially prepared if you were no longer there to handle expenses like:
- Mortgage or rent payments
- Insurance premiums
- Childcare/Education fees
- Aging parent costs
Whole Life Insurance coverage includes the following:
- Paid-up insurance at retirement means premiums are guaranteed to remain level until age 65 or for 20 years if the policy is purchased at age 46 or later. At that time, the policy becomes fully paid up and no further premiums are due.4
- Accelerated Death Benefit5 that pays 92% of death benefit, in most States, if an insured becomes terminally ill.
- Spouse/Domestic Partner, Dependent Children and Grandchildren coverage.6
- Convenient payroll deduction.
- Portable coverage enabling you to take it with you when you change jobs or retire.
1 Coverage can never be cancelled, as long as the insured pays the level premiums.
2 LIMRA, 2013 Insure Your Love Fact Sheet.
3 Applies to SOLUTIONS Series 121 plan only. Benefit reductions are applicable to SOLUTIONS Series 221 and 421 plans.
4 In most states, the Accelerated Death Benefit Rider provides a death benefit of 92% (84% in Illinois) of the face amount less a $150 administration fee ($100 in Florida) in lieu of the policy death benefit. Any outstanding loans will reduce the cash value and death benefit.
5Individual policies for spouses/domestic partners, dependent children and grandchildren are only available with the SOLUTIONS Series 121 plan. Coverage is not available in all states. In certain states, availability of an individual policy for spouses/domestic partners, dependent children and grandchildren is pending regulatory approval. Coverage and spouse/domestic partner eligibility may vary by state. Coverage not available for children in Washington. The employee does not have to apply for the spouse, children and grandchildren to apply for an individual policy.
Texas Life Whole Life Insurance is available through your MetLife representative and is underwritten by Texas Life Insurance Company, 900 Washington, Waco, Texas. Texas Life is not affiliated with Metropolitan Life Insurance Company or its affiliates. Like most life insurance policies, Texas Life policies contain certain exclusions, limitations, exceptions, reductions of benefits, waiting periods and terms for keeping them in force. Texas Life complies with all state laws regarding marriages, domestic and civil union partnerships, and legally recognized familial relationships. Please contact MetLife for more information.
13M160-C 1089 (TXLife)