Skip to Main Content
Term Life Insurance

Lump sum benefit
paid upon your death

No medical
exam required1

Your Choice of Benefit Level

Multiple term lengths and
benefit levels

Your Choice of Benefit Level

Eligible for coverage
up to age 75

Term Life

Undoubtedly, your death would cause turmoil in the lives of those closest to you. It’s something nobody wants to think about, but all need to prepare for.

If your family relies on your income to keep up with their day-to-day living expenses, the financial implications of your death could be devastating for them. Term Life Insurance from UnitedHealthcare, underwritten by Golden Rule Insurance Company, can play a part in helping you to protect your family’s finances in your absence.

Defining Term Life Insurance

You might be thinking, “What Is Term Life Insurance?”

Term life insurance is exactly what it sounds like – a life insurance policy that you buy for a set number of years – a term – to help your family financially in the event of your death.

That leads to the next logical question: “How does Term Life work?”

Term life insurance plans pay your designated beneficiaries a lump sum benefit if you die within the select policy term. Policy benefits are paid to you and can be used as you wish, whether that is for mortgage payments, travel costs, or school for your children – the choice is yours.

Adding Critical Illness Coverage

Worried about an illness straining your or your family’s resources? Term Life from UnitedHealthcare has another benefit you can choose to add for extra security, Critical Illness. If you purchase the optional Critical Illness rider2 and are diagnosed with a qualifying illness, you can receive a cash benefit. This benefit pays you upon the diagnosis of the following qualifying illnesses

Covered Critical Illnesses3

  • Heart attack
  • Life threatening cancer
  • Loss of hearing, speech, or vision
  • Major organ transplant
  • Paralysis
  • Coma
  • Renal Failure
  • Stroke
  • Carcinoma in situ
  • Coronary artery bypass graft

Important: The benefit amount received from the Critical Illness rider will be subtracted from your Term Life insurance policy benefit.

Critical Illness Insurance Rider

What’s the Difference Between Term and Whole Life Insurance?

Term life insurance policies are active for only a select number of years, making these more beneficial depending on your life circumstances. These plans may be a good option if you are –

Term Life Insurance for those paying for their kids college

Raising children or
putting them through college

Term Life Insurance for those paying a mortgage

Paying off a

Term Life Insurance for those who earn the majority of household income

Earning a majority of the
household income

In other words, a Term Life insurance policy can be a good option if you have certain timely events that you would need to be able to cover in the event of your death.

Whole Life insurance is a more enduring (often more expensive) form of life insurance. Policies offer you coverage for life, guaranteed benefits in the event of your death and a cash value that grows each year, one that you can add to on a tax-favored basis or even borrow against in some cases.

Term Life with Critical Illness in Action: An Example

Your Choice of Benefit Level

1. You select your Term Life policy term (for example, 10 years)

Your Choice of Benefit Level

2. You select your benefit levels (for example, $50,000 Term Life benefit with $25,000 Critical Illness optional benefit)

Your Choice of Benefit Level

3. You are diagnosed with a critical illness after the waiting period ends and receive a one-time Critical Illness benefit payment per diagnosis (for example, you are diagnosed with life-threatening cancer and receive $25,000 for your optional Critical Illness benefit)

Your Choice of Benefit Level

4. The amount of Critical Illness benefit paid reduces the amount of Term Life benefit remaining (for example, $50,000 Term Life benefit – $25,000 Critical Illness benefit paid = $25,000 Term Life benefit remaining.)

1 Product is medically underwritten.

2 Optional benefits require an additional premium cost. Products vary by state.

3 Waiting periods may apply.


Navigate Back to Top