As long as there is enough surrender value in the policy to pay the cost of insurance and service charges, the policy remains in effect. Protect your financial security with NMB's Dual Life. When you need a large amount of insurance and your budget is limited, term insurance may be the most economical choice. In these situations, the amount of permanent insurance needed may be cost prohibitive. 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.