Term insurance, or a combination of term and permanent insurance, could provide the solution. Term insurance is pure insurance protection. Unlike permanent insurance, it has no cash value. This and the fact that term insurance only provides protection for a specified period of time, account for its lower cost. You have two plans to choose from and more options in the future.
Premiums increase minimally each year to reflect the higher age of the insured.
The death benefit on both plans remains level for the term of the policy and, most importantly, NMB's term insurance plans are guaranteed renewable. Reduced rates for nonsmokers are available, and your term insurance can be added as a rider on a permanent life insurance policy. NMB's permanent insurance includes both whole life and universal life plans. Children outgrow every toy, game, or clothing item that you give them. It's a precious gift that can help carry a child into adulthood and beyond, an enduring reminder that you really care about that child's future.