How does cash out option of Term Life insurance work?

On diagnosis of any of defined critical illnesses, the life expectancy shortens and the expenses suddenly rise. Regular insurance may pick up most of treatment expenses, but the living expenses are threatening. Partial cash out of term life insurance comes a big help to meet living expenses.

Additional Health-Life Coverage

Term Life Insurance

with

Optional Critical Illness cash out

For Individuals

from

UnitedHealthcare^®

You get paid on occurrence!

Quote and sign up here

What is Term Life Insurance with Optional Critical Illness cash out Plan?

Term Life insurance policy has been integrated with optional 50% cash out of benefit of Term Life due to occurrence of Critical Illness during the currency of the policy. Premiums on balance of 50% of Term Life policy drop due to payment of cash out due to critical illness. The assigned beneficiary of the Term Life policy gets the balance of 50% of benefit upon death of the Term Life policy holder. Provision (rider) of optional critical illness helps the policy holder to offset expenses during stage of critical illness.

UnitedHealthcare® offers two categories of Term Life insurance plans at entry into plan:

10-Year Plans: Issue age group is 18-59.
20-Year Plans: Issue age group is 18-49.
Term Life Benefit: Available from $25,000 to $200,000.
Eligibility for End Date: 75^th

Optional Critical Illness Cash Out

50% of the selected Term Life benefit is paid to the beneficiary upon diagnosis of critical illness in following situations after waiting period of 30 days of Effective Date.

Carcinoma in Situ
Coma
Coronary Artery Bypass Graft
Heart Attack or Stroke
Life-threating Cancer (diagnosed more than 90 days after Effective Date of policy)
Loss of Hearing, Speech or Vision
Major Organ Transplant
Paralysis
Renal (kidney) Failure
Terminal Illness.

Details of Plans: Open brochure here.

Exclusion and Limitations: As given in the brochure.

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Open Quote and Sign up here on the UnitedHealtcare^® site. Quote and Sign up here

Fill the form and click on View Plans.

Navigate and click on tab Term Life, you see two plans, Plan A, and Plan B in increasing order of price and benefits. You may compare these two plans. Check the buttons Compare and then click on bottom Compare at the bottom of display. This is quick tabular display of compared plans.