Life insurance premium rates are based upon your current age and health (underwriting classification) so it is truly important to get coverage started while you are young and healthy.
For people under 46 years of age, Erie offers a GIO (guaranteed insurability option) rider. This is a great feature because it allows you to purchase additional coverage on future option dates based upon your original underwriting classification. So if your health deteriorates you can still purchase additional insurance at the same good underwriting classification you have right now. Or if you simply need more coverage due to changing life circumstances (IE a new baby, bigger mortgage, etc) it is hassle free to get it.
Most people eventually really need and want at least a small amount of whole life coverage. Unfortunately, many people wait until their term coverage and working years are over to consider purchasing whole life coverage. By that point the rates are much higher and the chances are greater of having health issues that will make it harder to qualify for coverage. To get preferred rates you normally must purchase at least 100,000 in coverage which can be expensive especially when you are young and have competing priorities. However, Erie allows us to offer small amounts of Whole Life in conjunction with term coverage at preferred rates for those who qualify.
By using the GIO rider and the ability to offer small amounts of whole life coverage at preferred rates, we can work together to build you a very inexpensive life insurance plan that will serve you really well for a long time.
Additionally, you will qualify for a discount on your home and Auto coverage.