IMPERIAL, Pa. — The new product portfolio from SNPJ includes four terrific term insurance plans. Two have been re-priced with lower rates, and two are brand new. We now offer Yearly Term, 10-Year Term, 20-Year Term and 30-Year Term. Each plan has its advantages. Let’s look at the annual cost of each plan based on $100,000 of insurance with preferred rates:

	Male, Age 45	Female, age 45
Yearly Term	$114	$148
10-Year Term	$125	$170
20-Year Term	$148	$253
30-Year Term	$226	$350

Without knowing anything else, you might say Yearly Term is the best buy since it’s the least expensive. In reality, the Yearly Term premium will exceed the 30-Year Term rate by year 11, and the 30-Year Term rate is still fixed for another 19 years.

Here is a quick guide to term insurance: purchase the plan that most closely aligns itself with your goals and aspirations. If you have a 20- or 30-year mortgage, buy a 20- or 30-year term plan. If you need additional protection for just a few years, buy the Yearly Term and pay the annual increases. If you’re looking for coverage to protect your family while the children are in school, perhaps the 10-Year Term would be sufficient. The longer the period you want coverage for, the higher the annual cost. However, if you keep a 20-Year Term for about that many years, no other plan would be more cost effective.

These new term plans are also convertible to any permanent plan of insurance prior to age 70. This is an important point to consider should you decide that you need insurance for life. You can convert your term plan to a Whole Life plan without evidence of insurability.

Term insurance is a great way to provide protection at a low cost. We would be happy to provide you with a quote and an illustration. If you need more information, please contact your Lodge secretary, local sales representative or the SNPJ Home Office at 1-800-843-7675.