Term Life InsuranceTerm Life Insurance
AmeritasAmeritas
Comprehensive living benefits and children's coverage — outstanding value for families.
Ameritas
Comprehensive living benefits and children's coverage — outstanding value for families.
About Ameritas
Ameritas is a mutual-based insurer founded in 1887 in Lincoln, Nebraska. As a mutual company, Ameritas is owned by its policyholders — not shareholders — which aligns its incentives with long-term customer outcomes. The company is particularly respected for its comprehensive living benefit riders: ClearEdge Living Benefits Term includes all three accelerated benefit riders (terminal, chronic, and critical illness with 15 qualifying events) at no additional premium, with one of the highest acceleration caps in the market at 90% of the death benefit up to $1.5 million. Ameritas is also the go-to carrier for families with young children, offering the only term product with a children's insurance rider that guarantees each child can convert to up to five times the rider face amount in permanent life insurance at age 25 — no medical exam required.
FindInsureWise's Take
Ameritas ClearEdge Term is among the strongest individual term policies for families who want comprehensive living benefit protection. All three rider types — critical illness (15 qualifying events), chronic illness (ADL-based), and terminal illness — are included at no added premium, with a 90% acceleration cap up to $1.5M. The children's conversion rider is the best in the market for locking in future insurability at minimal cost.
Strengths
- All three living benefit riders included: terminal, chronic (2 of 6 ADLs), and critical illness (15 qualifying conditions)
- 90% of death benefit acceleratable — up to $1.5M lifetime maximum
- Children's insurance rider included: each child can convert to up to 5× face amount at age 25, no underwriting required
- No-exam approval available up to $1M for eligible applicants under age 60
- Mutual company ownership — policyholder-aligned, not shareholder-driven
Considerations
- A (Excellent) rated — strong, but not A+ Superior like some competitors
- Less name recognition than large brand carriers like Prudential or John Hancock
- Check state availability — product features may vary by state
ClearEdge Living Benefits Term
Comprehensive living benefits and children's coverage — outstanding value for families.
Product Details
Key Features
Comprehensive Living Benefits
Built-in accelerated death benefit covering terminal illness, chronic illness (inability to perform 2 of 6 ADLs or severe cognitive impairment), and 15 qualifying critical illness conditions including invasive cancer, heart attack, and stroke. Access up to 90% of the death benefit — maximum $1.5M — at no additional premium.
Children's Insurance Rider
One low flat fee covers all eligible children under the policy. At age 25, each child can convert their coverage to up to five times the rider face amount ($125,000) in permanent life insurance — no medical exam or evidence of insurability required.
Lab-Free Approval Available
Applicants under 60 in good health may qualify for up to $1M in coverage without a blood draw through accelerated underwriting.
Best For
Families who want serious illness protection built in, plus a way to lock in their children's future insurability at minimal cost.