Germania Today | Summer 2020

life policy maintain Four ways to your in the face of hardship O your life insurance. This can be very beneficial if you are in need of coverage or have impaired health but would no longer qualify for new coverage. Take out a loan against your whole life policy . In times like these, you may want to look to your cash value life insurance as a source of funds. Germania Life’s whole life policies have the added advantage of offering loans against the cash value and can be accessed without proof of credit if you have an available cash value. Please note, if a death occurs before the loan is depleted, the policy’s benefit will be reduced by any unpaid loan balance. Remove riders from your policy . Life insurance


hile the harshest effects of the coronavirus pandemic have seemed to pass, many insureds are still feeling the financial sting of layoffs, furloughs, and business interruptions. In the wake of a cash crunch, it’s human nature to cut unnecessary expenses and defer payments of loans and bills. Life insurance may start to look like an undue cost, but is it? Now, more than ever, a financial safety net for you and your family is priceless. Instead, consider these four ways to maintain your Germania Life policy in the face of financial hardship: Adjust how you make payments. If you are currently set up to pay multiple months of premium at one time, you can change your frequency to a billing mode you can afford. Germania Life offers several payment mode options, including monthly electronic funds transfer (EFT) payments, monthly coupon, as well as quarterly, semiannual, and annual bills. Decrease your death benefit . Some insureds – depending on your age and policy type – may be eligible to decrease your death benefit to lower your premium to fit your financial needs, while still retaining

riders are optional add-ons to your policy that provide additional terms and conditions that aren’t included in the standard policy. If your Germania Life policy has added riders, such as Accidental Death and Dismemberment or Waiver of Premium, you can remove them without affecting your base coverage. Let us help you navigate these uncertain times. Contact Germania Life at or at 979-836-5224, ext. 2060.

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