![]() The underwriting process on a Custom Advantage policy can take between one and six weeks. That's true for most life insurance products that simplify the underwriting process. The key downside? TermNow premiums are significantly higher. If there are no issues, Primerica issues coverage within a few minutes. Instead, you allow the company to run background checks through the Medical Information Bureau and DMV. Since the payout is limited, Primerica allows you to go through a simplified underwriting process with no medical exam. TermNow is an option if your life insurance policy has a death benefit between $15,000 and $300,000. TermNow policies are limited to $300,000 or less in benefits Most insurers only offer "decreasing" benefits because financial obligations tend to drop with age.Ĭustom Advantage is significantly cheaper than TermNow This rare add-on is available until the policyholder is 55. With its "increasing benefit rider," you can increase the death benefit of your policy by up to 10% per year for 10 years. Each rider will typically increase your premiums by a small amount. Primerica also offers several riders that allow you to customize a term policy to your financial situation. And if you do qualify, the cost would be incredibly high. If you had a normal policy and got cancer during the original term, for example, you might not qualify for a new policy. Guaranteed insurability can be an incredibly valuable feature. The premium may increase, but it would only be due to age. All of Primerica's policies offer a "guaranteed insurability" option, which means you can renew your policy without a new health exam or application until age 95.
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