If the child outlives the policy, coverage can be eligible for conversion into permanent life insurance coverage without any need for additional medical exams. If a child dies while coverage is active, an additional death benefit will be issued. The Children’s Term Rider includes a death benefit that covers the children of the insured. This is often used to help pay for additional costs, such as medical expenses. The Accelerated Death Benefit Rider allows the policyholder to access a portion of the policy’s death benefit early when diagnosed with a terminal illness. This applies when certain life events occur, such as critical or terminal illness. These are some of the most popular riders available with a life insurance policy from a PHP Agency partner provider.Īn Accelerated Benefits Rider allows policyholders to access an additional death benefit while still alive. Several riders are available from PHP Agency, but availability and pricing depend on the provider you choose. There is principal protection, in addition to market gains, with the ability to benefit from tax-deferred growth.Ī life insurance rider is a type of additional protection that you purchase to better customize your provider’s life insurance coverage to your specific needs. This coverage is similar to indexed universal plans, using your chosen market index to earn additional value. PHP Agency also offers Fixed Indexed Annuities. Coverage is simple and straightforward, with many people using this policy to cover medical expenses and funeral bills. Many life insurance policies require a medical exam to qualify for coverage, but with this policy, you can receive permanent life insurance coverage that carries a flexible death benefit of $250,000. No-medical-exam life insurance offers guaranteed life insurance protection. It also protects your policy from market declines through a guaranteed floor.Īn indexed universal life insurance policy gives policyholders the option to put their premiums to work, using eligible funds to increase cash value and grow your policy tax-deferred over time. As your policy accumulates cash value, you can reinvest it to earn interest via popular indexes, such as the S&P 500 or Nasdaq 100. Indexed Universal Life (IUL) is a different type of life insurance protection, offering flexibility in both your premium and death benefit. Returned premiums may begin in the second year of the policy, so your premiums are guaranteed almost immediately. At the end of the ROP term life policy, policyholders can collect all contributed premiums when they outlive their policy’s term. PHP Agency has a Return-of-Premium (ROP) term life insurance policy that offers greater financial security than traditional term life coverage. At the end of the term, there may be the option to renew or convert coverage, depending on your provider.īecause term life is just temporary protection, it is often a more affordable type of life insurance coverage. The policy’s death benefit applies if the policyholder dies within the policy’s term. Most policies range in length anywhere from one to 35 years. Term life insurance is a form of life insurance coverage that has a specific expiration date.
PHP Agency’s life insurance products include five types of life insurance: term life, term life with a return-of-premium, indexed universal life, no-medical-exam life insurance, and fixed indexed annuities. You cannot buy life insurance directly from PHP Agency. While this gives you many more options for coverage, it also means that the exact details for your policy will largely depend on the provider that you choose.
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PHP Agency sells its products through a series of independent providers.
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