The Fund was established in 1911 in response to a national scandal over the improper practices of some life insurance companies. The Fund pays dividends on all the life insurance it issues. 65 policy is offered by the Fund. The premiums for these policies remain the same until the policy terminates. Term to Age 65 may be converted to any type of whole life insurance prior to age 55.
Term insurance provides death protection for a specific period.
Death benefits are paid only if you die within that period. People usually buy term insurance to get the most death protection for their money. The Fund offers four different whole life policies. An Ordinary Life policy has premiums paid throughout the life of the insured. A Life Paid Up at Age 65 policy has premiums payable only to age 65.