Along with all of those permanent options there are guaranteed
level term insurance options from 5 to 30 years and return of premium term insurance.
Some insurers also offer
extended term insurance option in which you are provided a death benefit equivalent to the current sum assured but for a shorter term.
Comparing 20 year or 30
year term insurance options using an online quote form is the best way to see which companies serve pilots and which ones have not yet modernized their liability offerings.
While it's tempting to take advantage of the bargain prices offered
by Term Insurance options now, you may be on the hook for higher premiums when you renew later in life.
a) Level Term Assurance option: This is a
simple term insurance option where nominee gets sum assured in case of death of the insured person.
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EXTENDED TERM INSURANCE OPTION: A policy provision that provides the option of continuing the existing amount of insurance as term insurance for as long a period of time as the contract's cash value will purchase.
The trade off is that a young person buying permanent life insurance will pay higher premiums at the time than what they would be with
a Term insurance option.
AARP does have options that use fixed rates although this is primarily for
the term insurance options.