What is Life Insurance?
The purpose of life insurance is to provide financial protection to surviving dependents after the death of an insured. It is a contract with an insurer like PRCUA, who, in exchange for premium payments, guarantees payment of a sum of money to named beneficiaries upon the death of the insured.
The importance of having life insurance
✔ To provide for family in case of death
✔ To replace lost income
✔ To protect loved ones from paying off debts
✔ To provide for a loved one’s education expense
✔ To pass wealth to heirs
✔ To cover funeral expense
✔ To add more financial security
✔ To supplement retirement goals
✔ To bring peace of mind
PRCUA Life Insurance Portfolio
- Traditional Whole Life (WL)
- Single Premium Whole Life (SP)
- Limited Payment Whole Life (PL)
- Life Paid Up at 70 (PU70)
- Final Expense – Immediate Benefit (FEI)
- Final Expense – Graded Benefit (FEG)
- Guaranteed Issue Final Expense (GIWL)
- Renewable Level Term (RLT)
- Decreasing Term Mortgage (DT)
- Quick Issue Term (QLT)
Description: A permanent plan of life insurance for which premiums are level and payable during the lifetime of the insured. Premium rates are banded saving you money on higher insurance amounts. The plan pays dividends and contains guaranteed cash values. The base death benefit remains level over the lifetime of the certificate.
Issue Amounts: $10,000 and over
Age Availability: 0 to 90
Supplemental Benefits Available:
Waiver of Premium, Accidental Death Benefit, Guaranteed Insurability Option, Juvenile Payor Benefit
Description: A permanent plan of life insurance for which there is a one time premium payment. The plan pays dividends and contains guaranteed immediate cash values. The base death benefit remains level over the lifetime of the certificate.
Issue Amounts: $5,000 and over
Age Availability: 0 to 100
Supplemental Benefits Available:
Accidental Death Benefit
5, 10, 15, 20 Year
Description: A permanent plan of life insurance for which premiums are payable for either 5, 10, 15 or 20 years. The certificate is then paid-up for life. The plan pays dividends and contains guaranteed cash values. The base death benefit remains level over the lifetime of the certificate.
Issue Amounts: $5,000 and over
Age Availability: 0 to 90
Supplemental Benefits Available:
Waiver of Premium, Accidental Death Benefit, Guaranteed Insurability Option, Juvenile Payor Benefit
Description: A permanent plan of life insurance for which premiums are payable until the age of 70. The certificate is then paid-up for life. The plan pays dividends and contains guaranteed cash values. The base death benefit remains level over the lifetime of the certificate.
Issue Amounts: $5,000 and over
Age Availability: 0 to 65
Supplemental Benefits Available: Waiver of Premium, Accidental Death Benefit, Guaranteed Insurability Option, Juvenile Payor Benefit
Description: A permanent plan of insurance with a guaranteed death benefit for which premiums are level and payable during the lifetime of the insured. The plan allows for cash value growth and is not dividend participating. No medical exam required.
Issue Amounts:
$2,500 – $25,000 (Age 40-75)
$2,500 – $15,000 (Age 76+)
Age Availability: 40 to 85
Description: A permanent plan of life insurance for which premiums are level and payable during the lifetime of the insured. The plan allows for cash value growth and is not dividend participating. This plan has a reduced death benefit for the first 2 years. For non-accidental death, the death benefit is limited to 25% of the face amount in the first year and 50% of the face amount in the second year. Thereafter, 100% of the face amount is payable. Full benefits are paid for accidental death from day one. No medical exam required.
Issue Amounts:
$2,500 – $25,000 (Age 40-75)
$2,500 – $15,000 (Age 76+)
Age Availability: 40 to 85
Description: A permanent plan of life insurance for which premiums are level and payable during the lifetime of the insured. The plan allows for cash value growth and is not dividend participating. This plan has a reduced death benefit for the first 2 years. For non-accidental death, the death benefit is limited to the return of 110% of the premium paid during the first 2 years. Thereafter, 100% of the face amount is payable. Full benefits are paid for accidental death from day one. No medical exam required.
Issue Amounts:
$2,500 – $25,000 (Age 40 – 65)
$2,500 – $15,000 (Age 66-75)
$2,500 – $10,000 (Age 76-80)
10, 15, 20, 30 Year
Description: A Term plan of life insurance with premiums payable for either 5, 10, 20, or 30 years. This plan provides the insured with the option of renewing every 5, 10, 20, or 30 years subject to the new premium at each renewal age. Premiums increase each renewable period with a guaranteed maximum amount.
Premium rates are banded saving you money at higher insurance amounts. This plan does not generate cash values or pay dividends. The death benefit remains level over the lifetime of the certificate.
Issue Amounts: $25,000 and over
Age Availability (10 Year): 18 to 65
Age Availability (15 Year): 18 to 60
Age Availability (20 Year): 18 to 55
Age Availability (30 Year): 18 to 45
Supplemental Benefits Available:
Waiver of Premium, Accidental Death Benefit
10, 15, 20, 25, 30 Year
Description: A Mortgage Term plan of life insurance with premiums payable for either 10, 15, 20, 25, or 30 years. Premiums remain level over the lifetime of the certificate. This plan is not renewable and it does not generate cash values or pay dividends. The death benefit decreases annually over the selected duration.
Issue Amounts: $25,000 and over
Age Availability (10 & 15 Year): 16 to 65
Age Availability (20 Year): 16 to 60
Age Availability (25 Year): 16 to 55
Age Availability (30 Year): 16 to 50
Supplemental Benefits Available:
Waiver of Premium
Description: The Quick Issue Level Term or Simplified Issue is similar to the Renewable Level Term except that there is no medical exam required when applying for up to $250,000 in coverage.
Issue Amounts: $25,000 and over
Age Availability (10 Year): 16 to 65
Age Availability (15 Year): 16 to 60
Age Availability (20 Year): 16 to 55
Age Availability (30 Year): 16 to 45
No riders available
Current Issue
Did you know?
Life insurance doesn’t have to be complicated. Familiarizing yourself with all the benefits that life insurance can provide, and the basic definitions can help you make the important decision for you and your loved ones. According to LIMRA, 44% of American households would encounter significant financial difficulties within six months if they lost the primary wage earner in their family, and 28% would reach this point in one month or less. Plan ahead and secure your family’s future with PRCUA Life Insurance.
