Erie Life Insurance has some really great Life Insurance Riders that many other of the "cheap" life insurance carriers do not offer.
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 this Erie Life Insurance Children's Term Rider 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 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 endorsement is allowed on Erie Life Insurance Term policies as well as Erie Life Insurance Universal Life policies and Erie Insurance Whole Life policies.
If you are looking for a local Erie Life Insurance agent in Johnson City or Kingsport Tennessee, give us a call at 423-292-4142 and let us help you understand the options that Erie Life Insurance has to offer.
We are licensed with Erie Insurance in Tennessee, Virginia, and North Carolina and would be honored to serve you!