Our Term To 26 Life Insurance solution provides affordable coverage for children and young adults. When you purchase a life insurance policy for your child or grandchild, you help set that child up for success right from the start.
Term To 26 automatically converts to a whole life insurance policy at age 26, which provides long-term financial benefits. Purchasing Term To 26 also guarantees that your child or grandchild will be able to obtain a life insurance policy as an adult. Lastly, by purchasing a policy, you have lifted the potential financial burden of funeral expenses should a tragedy occur.
Term To 26 Policy Highlights Include:
- Premiums are established at issue age and guaranteed to never increase for the duration of the policy term
- Choose from single premium or annual premium options
- Available to purchase for children and adults ages 0-21
- Death benefit is not subject to income taxes*
- Can be converted to a NMB Whole Life Insurance policy of an equal value at any time after the first policy year
- At age 26, policy automatically converts to whole life insurance of an equal value with the option to convert to twice the value
- Premiums for the new whole life insurance policy are determined by rates in effect at the time of the conversion
- A premium credit will be applied to the new policy if it is converted at age 26
- Insured members are eligible to receive our Member Benefits Package and apply for our NMB Scholarship Program at no additional cost
- Policies available from $10,000 to $50,000
Guarantees are backed by the financial strength and claims-paying ability of National Mutual Benefit. *According to tax laws IRC Sections 101 & 7702.