Life

We recognize the significant role that life insurance plays in ensuring the financial future of your family. Armed with the latest information and a comprehensive range of product offerings, LMIA’s team of risk management specialists can help build a protection plan that’s simple, secure and affordable.

Term Life Insurance

This is the most popular and affordable form of life insurance. Term life insurance provides the means to pay off debts and support family members in the event of premature or unexpected death.

  • Premiums and death benefits will remain unchanged for the duration of the policy term
  • Available for terms of 10, 15, 20, 25, 30, 35 or 40 years
  • A physical exam may be required for higher death benefits
  • Term life insurance is the least expensive form of life coverage

Permanent Life Insurance

This form of life insurance may be written to cover you for longer lengths of time or a specified age (such as age 100 or age 121) and may be set up to establish cash value.

  • Premiums may or may not fluctuate depending on how the policy is established
  • A physical exam will be required
  • Permanent life insurance is more costly than Term and Simplified Issue life insurance

Simplified Life Insurance

This form of life insurance may be purchased after answering basic medical questions and going through the underwriting process. However, you may be declined if you have serious/chronic medical conditions.

  • Premiums and death benefits will remain unchanged for the duration of the policy term
  • No physical exam is required
  • All applications will be subject to underwriting approval
  • Simplified Issue life insurance is more costly than Term life insurance

Accidental Death & Dismemberment

Accidental Death and Dismemberment (AD&D) insurance offers protection in the event of death by accident. AD&D does not offer protection in the event of death by an illness or natural causes.

  • Members 18 and older can enroll to receive $2,000 complimentary coverage underwritten by Minnesota Life Insurance Company
  • Additional coverage can be purchased at group rates

Lake Michigan Insurance Agency is owned by Lake Michigan Credit Union.

The information contained herein is provided solely for general informational purposes and is not intended to be a contract, a solicitation or an offer to sell in connection with any product or service, nor is the information a complete description of all terms, conditions and exclusions applicable to the products and services described.

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