Capital Life Insurance offers policies with features such as guaranteed premiums, level death benefits and guaranteed cash values. Some of the term life policies offered by Capital Life convert to reduced paid-up policies at the end of the term that are equal to the amount of premiums the policyholder has paid, explains Liberty Bankers Life, Capital's parent company.
One product offered by Capital Life is the Simplified Issue Market PermaLife, which is a whole life insurance policy that features a non-medical application, guaranteed premiums, face amount and cash values, according to Liberty Bankers Life.
The modified whole life policy features an accidental death benefit that Liberty Bankers pays at 100 percent of the face amount for the first three years. The non-accidental death benefit is an amount equal to a refund of all the premiums a policyholder has paid plus 10 percent, notes Liberty Bankers. The death benefit increases in subsequent years, eventually reaching a maximum of 110 percent. Flex4Life is a whole life policy that features guaranteed premiums, guaranteed cash values and a level death benefit. The policyholder selects a premium payment duration when he purchases a policy.
Term life policies are also available from Liberty Bankers. The PermaTerm 20 plan is a 20-year term life insurance policy that converts to a reduced paid-up policy at the end of the policy's term. This plan also features a level death benefit and guaranteed premiums. A Med Free term policy features cash values and guaranteed premiums for terms of 10, 15, 20 or 30 years. The Prime Term 70 Plus policy provides insurance coverage for the policyholder that is equal to the full face amount of the policy up to age 70. This policy converts to a reduced paid-up policy at the end of the term, explains Liberty Bankers.