Term Life

Our term life insurance policies feature affordable, guaranteed rates and a conversion credit of up to 100% of premiums paid when converting to universal life.

Term Life insurance cover individuals for a specified period of time with level premiums. If the policyholder passes away while the Term Life policy is in effect, the company pays the face value of the policy to his or her beneficiaries; if the policyholder outlives the policy, nothing is paid to beneficiaries and no equity accrues. Therefore, Term Life insurance is the least expensive type of life insurance available.

Term Life insurance
Term Life insurance is beneficial for policyholders if:
  • They need a high level of coverage for a specific period of time.
  • They are price sensitive
  • They do not want to use insurance as a way to build their investment portfolio
Pan-American International Insurance Corporation, offers the following Term Life products:
  • 20-Year Level Premium
  • 30-Year Level Premium
  • To Age 100 Level Premium
Term Life insurance benefits can offer individuals a number of different options, including:
  • Conversion privilege – A conversion to a Universal Life plan is allowed before age 75 and before the following contract year:
    • 20- Year Term: 15th
    • 30- Year Term: 25th
    • To Age 100: age 75
  • A conversion credit is available during the first five years, equal to the lesser of: all premiums paid since issue, or one half of the Universal Life target premium.
  • With Pan-American, policyholders can secure their financial future. These options clearly demonstrate our goal of helping policyholders protect their family and business with efficient products and services designed to solve financial needs.

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