Life insurance policies from American Income Life, or AIL, offer benefits such as full life coverage, fixed premiums and final expense plans. Whole Life Insurance and Term Life Insurance policies are available, with the option of adding a terminal illness rider, according to AIL. The company also offers other products, such as accident, hospital, cancer and critical illness protection.
Whole Life insurance provides coverage until death, notes AIL. These policies build cash value every year, while premiums do not increase. In contrast, Term Life insurance is for a fixed period, such as 10, 20 or 30 years. Term policies have lower monthly premiums than Whole Life Insurance, but they do not provide as much long-term security.
AIL offers Final Expense plans within their Whole Life insurance coverage. These policies ease the financial burden in the immediate aftermath of a loved one passing away, explains AIL. Final Expense plans help families pay for the funeral, burial and other necessary expenses.
A Terminal Illness rider pays 50 percent of the full coverage amount in the event that the insured is diagnosed with a terminal condition, states AIL. Premiums do not change after activating the Terminal Illness rider. AIL pays out the rest of the policy when the insured passes away.