What Is the Trustmark $300,000 2017 Policy?
The Trustmark 2017 life insurance product offers a face value of $300,000, designed to replace lost income and cover final expenses for families. It is a term policy with a maximum term of 20 years, and can be renewed after the initial term ends, subject to new underwriting. The policy is marketed to middle‑income households seeking a balance between affordability and comprehensive protection.
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Coverage Details and Benefits
Primary benefits include:
- Death benefit of $300,000, paid tax‑free to beneficiaries.
- Optional riders: accelerated death benefit, waiver of premium, and accidental death coverage.
- Cash value component appears only if the policy is converted to a permanent product.
The policy covers accidental death, terminal illness, and disability, with the rider options allowing the policyholder to access a portion of the death benefit early if a qualifying event occurs.
Underwriting Criteria
Applicants are evaluated on age, health status, and lifestyle factors. Typical age range is 25–55. The underwriting process requires a medical exam, blood work, and a review of medical history. Smoking status and pre‑existing conditions such as hypertension or diabetes affect premium rates. A standard underwriting score of 70 or higher is generally required for the $300,000 coverage level.
Premium Structure and Cost
Monthly premiums vary by age and health. For a 35‑year‑old non‑smoker, the annual premium averages $1,200, or $100 per month. A 45‑year‑old smoker may face premiums above $2,400 annually. The policy offers a 10‑year payment plan option, after which the policyholder can choose to continue payments or convert to a whole life product.
Comparing to Similar Products
| Attribute | Trustmark 2017 | Competitor A | Competitor B |
|---|---|---|---|
| Face Value | $300,000 | $250,000 | $350,000 |
| Term Length | 20 years | 20 years | 30 years |
| Premium (avg. 35‑yr, non‑smoker) | $100/mo | $110/mo | $95/mo |
How to Apply
Applications can be submitted online via Trustmark's portal or through an independent insurance broker. The application process includes:
- Online form submission.
- Scheduling of a medical exam.
- Review of underwriting results within 5–7 business days.
Once approved, the policy becomes effective immediately, and the first premium is due within 30 days of issuance.
Key Takeaways
The Trustmark 2017 $300,000 life insurance policy offers solid protection for families, with flexible riders and a competitive premium structure. Its 20‑year term and standard underwriting make it accessible to many middle‑income households. When comparing costs and benefits, consider your age, health, and long‑term financial goals to determine if this policy aligns with your coverage strategy.