One of the great things about Erie Life Insurance is their Children's Term Rider that can be added on to an Erie Life Insurance Term Policy, Erie Life Universal ErieSecure Life Policy, or an Erie Life Insurance Whole Life Policy.
This Life Insurance rider provides level term insurance coverage on the lives of the insured’s children, stepchildren or legally adopted children who are named in the application. If you later have more kids by either birth or adoption after the policy is issued, they may be automatically covered.
Another great thing about Children's Rider for Life Insurance is that it does not matter how many children you have, there is just one low price to cover all of your kids!
You can pick a level death benefit from $1,000 to $10,000 for a policy and husband and wife can both get that same Erie Life Insurance Children's Term Rider on their Erie Family Life Policy for a total coverage amount of $20,000. The cost for this rider is usually under $6 per month.
The coverage will end based on a few triggers such as when a child turns 25 or when the insured on the Erie Life Policy turns 65.
The cool thing about this, is that all coverages are convertible at their expiration for up to five times the original amount of insurance! This means that if you have $10,000 of coverage, your child can get $50,000 of coverage with no health questions asked when they turn 25 as long as your policy is in force with the rider.
This Children's Rider Life Insurance endorsement is allowed on Erie Life Insurance Term policies as well as Erie Life Insurance Universal Life policies and Erie Insurance Whole Life policies.
Last and definitely not least, don't forget that if you have at least $100,000 of life insurance with Erie Life Insurance, you qualify for a discount on your Erie Home Insurance and your Erie Auto Insurance! Many times we have found that the cost of the life insurance is LESS than the discount you get on your Erie Auto Insurance policy so basically the policy is FREE!
We are licensed with Erie Insurance in Tennessee, Virginia, and North Carolina and would be honored to serve you!
For more information about Erie Life Insurance or the other Erie Life Insurance riders available, you can either call our office , just click here, or schedule a time on the calendar below.
Andrew Darlington : April 24, 2023 at 12:43 PM
Andrew Darlington