Instant Term Product Summary

Term Life Insurance

Electronically-enabled paperless product. Get immediate issue of 3-months of term life coverage online. Full-term 10- or 20-year coverage following underwriting validation. Guaranteed level premium.

Issued By

Issued by American Life Insurance Company of New York.

Duration

Ten (10) and twenty (20) year

Issue Ages

10 Year Term: Ages 18-60
20 Year Term: Ages 18-58 (except New York, which is ages 18-50).

Face Amounts

$100,000 - $1,000,000

Rate Guarantee

Rate is guaranteed for initial 3 months; full-term coverage rate will be guaranteed following underwriting validation.

Renewability

Renewable to age 80.

Re-entry Provision

10 Year Term: Expires at age 60.
20 Year Term: Expires at age 58.

Convertibile Option

May be converted to any plan of whole life insurance offered by the Company at the date of conversion. Convertibility expires at age 70.

Underwriting Classes

Super Preferred Non-Tobacco, Preferred Non-Tobacco, Preferred Tobacco User, Standard Non-Tobacco and Standard Tobacco User.

Payment Modes

Visa, MasterCard, American Express, Discover, Electronic Funds Transfer (EFT).

Payment Frequency

Annual, semi-annual, quarterly, monthly. (frequencies other than annual have modal adjustments).

Owner

Must be the insured (once the policy is in force, ownership changes may be made).

Beneficiary

Spouse or immediate family member; grandparent, niece, nephew, trust or estate.