Saturday, May 19, 2012
Main

About Us

Insurance Products
       Auto Insurance
       Home and Property
       Business Insurance
       Life Insurance

Helpful Resources
       FAQ

Contact Us
Industry Rankings
...for Erie Insurance:
  • Erie Insurance Group is the 18th largest property/casualty insurance group based on 2007 Policyholder surplus, and the 18th largest property/casualty insurer in the United States based on total lines net premiums written. It is the 16th largest auto insurer in the country based on direct premiums written, and the 3rd largest auto insurer in Pennsylvania.
  • Erie Insurance Group is the 686th largest U.S. corporate group, in terms of revenue, as ranked by Fortune magazine in April 2009.
  • Erie Family Life ranks as the 120th largest life insurance company based on admitted assets, and the 149th largest life insurance company based on premiums written.

Life Insurance

Life Insurance is many things to many people. It is a premium to be paid, collateral for a loan, bread on the table, cash to borrow when needed, pay off for debts and cash to pay for end of life needs.

 

From an insurance agent’s point of view, life insurance is all that and an offer for time and peace of mind. It is time because life insurance proceeds offers the loved ones the time they need to adjust to the change and begin living again. Peace of mind because in buying life insurance you realize that a decision has been made that is good and offers proof that the future is secure. Peace of mind when the future is now and survivors are coping with death of a loved one. Life insurance will pay final expenses, repairs needed, mortgage payments and all expenses incurred just to keep life moving forward as it was before the death. Life insurance is an investment, but not an investment in the usual sense of the word. It is an investment in your family’s future, it’s primary purpose is to offset the economic loss that results from premature death during the productive years. Life insurance is the foundation of security because it pays for the necessities of life at the very time that the provider can’t.

 

Life insurance products are not all the same. While some provide coverage for your lifetime, others provide coverage for a specific number of years.

Erie Family Life

There are two basic type of life insurance: term life and permanent life.

Term Life Insurance

Term life insurance is a popular form of coverage that allows you to purchase large amounts of protection at attractive premium rates. Term insurance is ideal for protecting a mortgage, providing replacement income or funding college for a child in the event of a premature death.

 

Erie Family Life’s term coverage provides coverage to age 95. The face amount of the policy remains level and the policyowner can select from a 10, 15, 20 or 30-year guaranteed level premium period.

 

A return of premium rider is also available on the 15, 20 and 30-year plans. This rider provides a full refund of premium, rider and policy fees if the policy remains in force at the end of the level term period.

Policy Features

  • Minimum policy size: $50,000
  • Rate Classifications: Ultra Select Non-Tobacco, Super Select Non-Tobacco, Select Non-Tobacco, Standard Non-Tobacco, Select Tobacco and Standard Tobacco. Availability of rate classifications varies by issue age and amount of coverage.
  • While the policy is in force, you may convert it to cash value insurance during the guaranteed level premium period or until age 70, whichever is earlier (guaranteed minimum of 5 years convertibility), without evidence of insurability. We guarantee this conversion privilege regardless of health, occupation or hobbies.

Issue Ages

  • Minimum issue age: 15 days
  • Maximum issue ages:
    • 10 year plan: age 70
    • 15 year plan: age 65
    • 20 year plan: age 60
    • 30 year plan: age 50
    • 30 year plan: age 47 (all states) for male Select Tobacco and Standard Tobacco Classes

Whole Life Insurance

For most people, the need for life insurance may decrease, but it never goes away. As time passes, circumstances and plans change, but the need for protection never disappears. That’s why you should consider Erie Family Life’s Permanent Life Insurance Series,* which can give you peace of mind with these features:

Policy Features

  • Guaranteed life insurance protection that will not decrease.
  • Guaranteed cash value that can be borrowed to take advantage of future opportunities.
  • Guaranteed premium that does not change, regardless of changes in your health.
  • Minimum policy size is $5,000.
  • Issue Ages:
    • Whole Life: Ages 0-85
    • 20-Pay Life: Ages 0-70
  • Erie Family Life offers two permanent life products that provide lifetime protection: a simplified issue plan that requires only six medical questions and a fully underwritten plan. Each offers two options:
    • A 20-Pay option where the policy is paid up in 20 years
    • A whole life option where the premium is paid to age 100
  • Each new plan can help you meet a variety of needs, including:
    • Funding for your children's’ education.
    • Payment of medical bills, final expenses and estate settlement costs.
    • Financial support for your dependents.
    • Supplemental retirement income.
 
Copyright 2009 Ritchey Insurance Associates Terms Of Use | Privacy Statement