ivari
TermSelect10
10-Year Term Life Insurance with Critical Illness Coverage
A summary of your policy's key rules, benefits, and conditions — including the Critical Illness Rider.
Main Policy
How TermSelect10 Works
Your core life insurance policy provides death benefit coverage structured in 10-year renewable blocks. Here is what you need to know:
1
Automatic Renewal
The policy renews every 10 years. Premiums increase at each renewal based on your age at that time.
2
Grace Period
You have a 31-day grace period to make a late payment before your coverage is officially cancelled.
3
Conversion Option
Within the first five years, you may convert to a permanent policy or exchange for a different term policy — no new medical exam required.
4
No Cash Value
This policy is protection only. It does not accumulate a cash savings account and cannot be withdrawn from or borrowed against.
Exclusion
Suicide Exclusion Clause
What the Policy States
The death benefit will not be paid if the insured person dies by suicide within the first two years of the contract taking effect.
Why This Exists
This is a standard industry clause included in virtually all life insurance contracts. It is designed to protect the insurer during the initial policy period.
After the two-year period has passed, this exclusion no longer applies and the full death benefit remains in force.
Critical Illness Rider
Critical Illness Add-On Coverage
This rider pays a lump-sum benefit to Steve Alexander Jimenea upon diagnosis of a covered severe medical condition.
25 Major Illnesses Covered
Including heart attacks, strokes, and severe cancers, among others.
5 Childhood Conditions
Specific conditions affecting children are also covered under this rider.
30-Day Survival Requirement
You must survive at least 30 days after official diagnosis to receive the payout.
Early-Stage Benefit
A smaller payout of up to $50,000 is available for early-stage conditions like early-stage breast or prostate cancer.
Critical Illness Rider
Exclusions & Refund Provision
⚠️ 90-Day Cancer Exclusion
Cancer and benign brain tumors are not covered if diagnosed within the first 90 days of the policy start date. This waiting period applies strictly to these two conditions.
💰 Premium Refund on Death
If the insured person passes away without ever making a critical illness claim, ivari will refund all premiums paid specifically for this rider to the family.
These provisions are specific to the Critical Illness Rider and do not affect the main TermSelect10 life insurance death benefit.
Summary
Your Policy at a Glance
Core Coverage
TermSelect10 death benefit, renewing every 10 years with age-adjusted premiums.
Flexibility
Convert or exchange within 5 years — no new medical exam required.
Critical Illness Protection
Lump-sum payout for 25 major illnesses + 5 childhood conditions, with an early-stage benefit up to $50,000.
Family Safety Net
If no critical illness claim is ever made, all rider premiums are refunded to your family.