We all know that life insurance is purchased in the event of an untimely death. Sometimes that is the result of a tragedy and sometimes it’s the result of nature. Either way, many of us will die without owning our homes. When we have a mortgage on our home when we die, no matter how small, the bank still owns the home, and without a way to replace the payments or pay it off, you will lose that lifelong asset.
This is why Americo Financial Life and Annuity Insurance Company created the HMS Plus Cash Back Option coverage. This life insurance policy is designed to help pay off your home or make your mortgage payments if you die. Best of all, if you don’t die, you will receive your money back! HMS Plus CBO was designed with you in mind:
- Universal life insurance available in 30-, 25-, 20-, and 15-year no-lapse guaranteed premium periods, with a Cash Back Option that guarantees 100% of base premiums are available to you at the end of the no-lapse guarantee period
- A wide variety of optional benefit riders that may heIp if you become totally disabled or critically ill
- No medical exams required. Just answer a few simple medical questions on the application
Let’s look at an HMS Cash Back Option example:
Joe is a 30-year-old male, non-smoker, who purchases a $150,000 HMS Plus 125 CBO policy with a 30-year no-lapse guarantee period. His monthly premium payment is $68.75. At the end of the 30-year period, the cumulative premium paid and the guaranteed accumulation value are both $24,750. If Joe chooses to terminate his coverage at the end of year 30, he will receive a $24,750 lump sum cash payment!
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