Life insurance that can offer you cash back if you don't use it
Life insurance seems pretty straightforward – you buy it, and it only pays your beneficiaries if you die. You may have some simple term insurance that you bought because you thought it was a good idea to be protected (which it is). Or if you don’t have life insurance currently, maybe you’ve been meaning to purchase life insurance, but you held back because you didn’t know how it could help you financially. But what if there was a simple life insurance product that not only provided protection in case you were to die, but also could provide you with cash in case you live? Horace Mann’s Cash Value Term (CVT) life insurance can do just that!
CVT life insurance accumulates cash value throughout the term of coverage. At the end of the term, you can use that cash value for whatever you want – to help pay off the mortgage, to help fund a child’s education, to take a vacation or purchase additional life insurance coverage.*
The cash back option could provide a substantial amount at the end of the term. For example, a 30-year old female purchasing a 20-year CVT policy with $500,000 of coverage and premium of $108.06 per month will have $30,800 worth of cash value at year 20. If the policy isn’t continued, that cash value is hers to do with as she wants.
So if you’re thinking about life insurance protection and want to consider a product that could benefit your family if you live, then maybe it’s time to consider Cash Value Term life insurance. Talk to your local Horace Mann representative to learn more.
*Cash back comes from the cash value build up within the policy. You would have to surrender the policy in order to receive the cash back.
Horace Mann Life Insurance Company underwrites Horace Mann life insurance products. Proof of insurability is required to purchase coverage. This information represents Horace Mann’s insurance contracts ICC12-351 and IC-351000 and alternates.