Whole Life Insurance
Whole life insurance is more than just life insurance at an affordable price. It combines the guaranteed premiums, coverage, and values that have always been so attractive in whole life insurance with the advantages of cash accumulation at current interest rates. With whole life coverage you choose the amount of insurance or the amount of premium that best suits your needs and budget.
Our Whole Life workplace insurance is an endowment at age 95 life insurance policy, which means the face value would be paid to the insured, if living, at age 95.
Boston Mutual’s Whole Life Insurance Highlights
- Family coverage available. You don’t have to apply in order to cover your spouse, children, and grandchildren.
- Guaranteed premium. As long as you pay your premiums, the cost of your life insurance policy can never go up.
- Guaranteed cash value. The cash value illustrated at the time of purchase, when you reach age 65, is guaranteed as long as your coverage stays in force.*
*The actual cash value may be decreased by loans or withdrawals.
- Guaranteed portability. Even if your employment changes, you can keep this coverage and pay us directly for the premiums.
- Guaranteed additional purchase. If you buy a minimum amount of coverage, you guarantee yourself the right to purchase any remaining portion of the guarantee issue limit at future approved enrollments.
(subject to product and payroll deduction availability)
Term Life Insurance
Term life is a low cost option that allows for the purchase of high benefit amounts, while you are actively employed with your company. At Boston Mutual Life, we are here to make the process of buying term life insurance simple and affordable. When life’s most challenging moments arise, we are here to assist.
Boston Mutual’s Term Life Insurance Highlights
- Dependent Coverage: Available for spouse and children.
- Waiver of Premium: Life insurance is continued without premium payments if you become totally disabled.
- Accelerated Death Benefit: Available to insureds with a life expectancy of 12 months or less, allowing them to collect a percentage of their life insurance benefit early. The remaining benefit is then payable to the beneficiary.
- Portability: Offers insure you and your dependents the opportunity to continue the term life insurance upon leaving employment (*up to age 65). Boston Mutual will bill for premium directly to you.
- Conversion: Allows you and your dependents to convert the term life insurance to a whole life policy without evidence of insurability within 31 days of termination from employment.
- Bereavement Counseling: Available to all covered insureds.