Protect the People You Love the Most

According to a survey conducted by the Life Insurance Marketing Research Association (LIMRA), 40% of American households have no individual life insurance. Many others do not have enough coverage or other resources to provide an adequate income for their family. Everyone needs protection against loss of income in the event of an unexpected death.

The following chart shows the monthly income that a lump sum earning 4 percent interest would provide:

Death Benefit
Years $100,000 $250,000 $500,000 $750,000 $1,000,000
5 $1,842 $4,604 $9,208 $13,812 $18,417
10 $1,012 $2,531 $5,062 $7,593 $10,125
15 $740 $1,849 $3,698 $5,548 $7,397
20 $606 $1,515 $3,030 $4,545 $6,060
25 $528 $1,320 $2,639 $3,959 $5,278

Sources of Monthly Income

  • Cash Savings
  • Investments, including stocks, bonds, mutual funds and savings bonds
  • Income from rental property
  • Proceeds from the sale of a home or a home equity line of credit
  • Social Security
  • Funds from retirement plans (IRA, 401(k) or other tax-deferred plan)
  • Life insurance proceeds

Life insurance is a cost effective way to protect your family against an unexpected loss of income. ERIE's Term Life Series offers competitive level, guaranteed premiums for 10, 15, 20 and 30 years.

All term plans are fully convertible to any form of permanent insurance currently being offered by the company for conversion. Coverage may be converted during the level premium period or prior to age 70, whichever comes first.

 

For an additional premium you may add the following riders:

A Return of Premium Rider is available on the 15, 20 and 30 year plans. This rider provides for the refund of the premium paid at the end of the level premium period if the insured is living and the rider is still in force.

A Children's Term Insurance Rider that covers all children between the ages of 15 days and 18 years for $1,000 to $10,000. Once they reach age 25, each child may convert up to five times the coverage amount to a maximum of $50,000 regardless of health, occupation or hobbies.

A Waiver of Premium Disability Benefit Rider that will pay your premium in the event of total disability. Should the insured become totally disabled while the policy is in force, Erie Family Life will waive the premium after six consecutive months of disability and pay the premium as long as the insure remains totally disabled.