Permanent Plans of Life Insurance
Build cash or loan values
A Life Insurance certificate allows you to set aside money now to provide a measure of financial security for your family upon your death. It can help your family meet the financial needs previously covered by your income. The main purpose of a life insurance policy is to provide survivor benefits for beneficiaries, such as family members or creditors, after your death.
Whole Life Plan
MALE & FEMALE: NON-TOBACCO or TOBACCO- > Least expensive level premium paying plan.
- > premiums payable for life.
- > issue ages 0-85.
- > accrues cash and loan values.
- > dividends* may begin in second contract year.
20 Pay Life Plan
MALE & FEMALE: NON-TOBACCO or TOBACCO- > Level premiums payable for twenty years.
- > issue ages 0-85.
- > accrues cash and loan values.
- > dividends* may begin in second contract year.
Single Premium Life Plan
MALE & FEMALE: NON-TOBACCO or TOBACCO- > Pay one premium only.
- > issue ages 0-85.
- > dividends* may begin in second contract year.
- > cash and loan values accrue through the years.
3 Pay Life Plan
MALE & FEMALE: NON-TOBACCO or TOBACCO- > The same as Single Premium Whole Life plan with the option of making three equal annual payments.
- > issue ages 0-85.
*Dividends may begin in the second contract year. A policy loan agreement needs to be signed for the remaining premiums outstanding.
Term Life Insurance Plans
Offer the most protection for the lowest cost
10 Year Level Term Plan
MALE & FEMALE: NON-TOBACCO or TOBACCO- > Level Death benefit.
- > Male-female rates at non-tobacco and tobacco levels.
- > Does not accrue cash or loan values.
- > Premiums guaranteed to remain constant for the first (10) years and yearly renewable term premiums apply thereafter.
- > Issue ages 18-70. Expiry age is 95.
- > Minimum face amount issued is $25,000.
- > There is a fifty dollar ($50.00) annual policy fee for face amounts of $25,000 and over. No fee if used as rider.
- > Convertible to a permanent plan at any age up to (70) of equal or lesser face amount, without evidence of insurability of the insured.
- > Can be paid monthly, quarterly, semi-annually or annually.
- > Can be attached as a rider to any of our permanent plans of insurance or annuity products.
20 Year Level Term Plan
MALE & FEMALE NON-TOBACCO: Super Preferred, Preferred or Standard | MALE & FEMALE TOBACCO: Standard- > Death benefit.
- > Benefit level for twenty (20) years with yearly renewable term rates thereafter.
- > Male-female rates at tobacco and non-tobacco levels.
- > Non-tobacco classes: Super Preferred, Preferred and Standard.
- > Does not accrue cash or loan values.
- > Minimum face amount is $50,000.
- > Premiums guaranteed to remain constant for the first (20) years and yearly renewable term premiums apply thereafter.
- > Issue ages 18-60. Expiry age is 95.
- > There is a fifty dollar ($50.00) annual policy fee.
- > Can be paid monthly, quarterly, semi-annually or annually.
- > Can be attached as a rider to any of our permanent plans of insurance and annuity products.
Youth Term Plan Level Premium
MALE & FEMALE: Annual or Single Premium- > Level premium throughout the life of the contract.
- > Issue ages 0-22.
- > Unisex rates.
- > Does not accrue cash or loan value.
- > Convertible to a permanent plan of insurance of equal of lesser face amount, without evidence of insurability at any age before age thirty (30).
- > Conversion credit of $1.00 per $1,000 of insurance, times the number of years this plan has been in force is applied to reduce first year premium if converted to permanent plan. Maximum one hundred ($100.00). Conversion credit is reduced by 20% each year after age 25.
- > Can be paid annually or in a single premium.
- NOTE: Term insurance DOES NOT make a youth eligible for our NSS Scholarship Program.
It’s easy to join the NSS Life family.
Simply sign up for one of our Annuity or Insurance programs and you are welcomed with open arms!
- Annuities
- Term Life Insurance
- Permanent Life Insurance
- Life Insurance Applications
Download PDF Brochure
Read our Annuities Brochure to get specific details on offerings.
Frequently Asked Questions
Here are a few of our most commonly asked questions about Annuities.
What is Whole Life Insurance?
Whole Life Insurance offers guaranteed death benefits and guaranteed cash values while having fixed, predictable premiums for your lifetime. Many times Whole Life insurance is the most budget friendly permanent life insurance plan.
What is Term Life Insurance?
NSS Life Term Insurance plans provide life insurance coverage for a specified term. These plans do not accumulate cash value. Term Life insurance is generally considered “pure” insurance, where the premium provides the maximum protection in the event of death. Each of our Term plans contain a valuable conversion privilege that allows you to convert to a Whole Life plan, and awards a premium credit to reduce your initial premium.
How do I become a Member?
All you need to do is to purchase either a life insurance policy or a NSS annuity. As long as you maintain an active policy with the NSS, you will remain a member of the Society.
Permanent Coverage for Life?
A Life Insurance policy is the most cost- effective way to provide financial security for your family upon your death. Life insurance can help your family meet the financial needs previously covered by your income. Simply put, the main purpose of a life insurance policy is to provide survivor benefits for beneficiaries and their needs.
NSS Life’s Permanent/Whole Life insurance certificates (policies) are issued through the ages 0 – 85. These plans build cash or loan values and are eligible to earn dividends.
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