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 Cheapest Life Insurance USA

Mission Life Insurance Company of America -
Life Insurance

About Mission Life Insurance Company of America

The world's greatest success stories many times start with modest expectations. Such is the case of Mission Life Insurance Company of America.

The History of Mission Life Insurance Company of America

The roots of Mission Life Insurance Company of America began back in 1939. That year J. B. Earthman, the father of Michael and Donald Earthman, established a small burial insurance company in Houston, Texas. The company grew steadily through the 50's, 60's, and 70's as a home service insurance company. Michael and Donald joined their father's insurance company in the late 60's. In 1978 the Earthman boys formulated a new way of funding preneed funeral contracts, which up until that time was strictly bank deposit funded. They combined a guaranteed growth life insurance policy with a preneed contract. This new form of insurance -funded preneed opened a new age of sales and growth for their company throughout the nation. These same insurance products have evolved into a great stand-alone insurance policy for the Senior markets.

1998 was a landmark year for Mission Life of America. Sales shattered the $100 million mark with approximately 30,000 new policies being issued mostly on senior citizens, in 18 states. Mission Life of America's momentum is unstoppable and, with the new financial alliance with Swiss Re, Mission Life of America's capacity to grow is unlimited. Mission Life Insurance Company of America has attained an A.M. Best Rating of VERY GOOD. Mission Life Insurance Company of Americas' partner Swiss Re Life & Health of America Inc. has attained an A.M. Best rating of SUPERIOR.

Mission Life Policies

Fully Insured

Policy Type: Participating

Description: These Mission Life Insurance policies are in full benefit from the date of issue. They are also participating. By this they mean at the end of the second policy year on the 3,5,10 and 20 pay policies, the policies may be credited with dividends. The dividends are automatically applied to purchase paid up additional insurance. The growth is used to offset inflation.

To qualify for any full benefit insurance plan, the applicant must be in good health. The quality of health will determine whether a standard rate can be used or not.

Graded Benefit Life Policy

Policy Type: Participating

Description: GBL means Graded Benefit Life. The policy has an increasing death benefit the first two years of the policy. Should death occur during the first twelve (12) months that the policy has been in force, the policy will pay 25% of the full benefit. If death should occur during the 13th and through 24th month that the policy has been in force, the policy will pay 50% the full death benefit. After the 24th month that the policy has been in force, the policy will pay the full death benefit. The GBL is a "guaranteed growth" policy. The policy¹s death benefit increases $2.50 per month for each $1000 per unit plus $2.50 per month for each month elapsed from the Policy Issue Date to the end of premium paying period or the date of death, if earlier. Also, this policy is participating. This means that it has the potential to grow by means of dividends, similar to our other plans.

This plan of insurance is offered in 6 different payment options for 5,6,7,8,9 and 10 year pay. This policy also has an accidental death benefit feature that provides a full death benefit during the first 2 years if death is result of an accident. Some states do not have this provision.

Multiple Premium Pay: Guaranteed Increasing Benefit Policy

Policy Type: Participating

Description: The GIB is a guaranteed increasing benefit policy that increases monthly from date of issue. These policies increase monthly by an amount greater than the premiums paid. Over the premium payment period the policy has a guaranteed growth of no less than 3% per annum. Also, this policy is participating, giving it the capability of growth in excess of the policy minimums.

Contact Mission Life Insurance if you would like some more information on their policies.

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