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Income Replacement

Income Replacement

Term Life Insurance Customized to Secure Your Future Income

For many people, their earning power over their career is their most valuable financial asset – it helps safeguard their family’s future well-being. To help protect your family – protect your income.
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IncomeSense is declining term life insurance that provides monthly payments to your family — should something happen to you. Designed to be different than other life insurance, IncomeSense provides monthly payouts, rather than one lump sum, for the life of the policy. Not only can this approach be better customized to your family’s financial needs (monthly expenses, college savings, mortgage payments, etc.), it can be less expensive than traditional life insurance because you buy only as much coverage as you need. Most important, the process is easy – no medical exams and no pressure to buy. Discover how sensible it can be to help safeguard the financial future of your loved ones in the event of your absence with guaranteed monthly income.

Simple Process

Simple Process

  • 8 questions for your free quote
  • Easy online application provides coverage in minutes
  • No medical exam required
  • Agents on standby to help via phone, chat or email—but only if you want
Sensible Protection

Sensible Protection

  • Guaranteed monthly payouts to help pay your family’s monthly expenses
  • Monthly Insurance premium rates guaranteed to never increase
  • Backed by member companies of one of the world's strongest life insurance groups
Simply for you

Simply for you

  • Customizable monthly payment coverage up to $5,000 or more1
  • Customizable coverage for durations up to 30 years (not beyond age 65)
  • Available for ages 20-55
A Sensible Video

How does income replacement life insurance work? A sensible video explains it all.

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Frequently Asked Questions
IncomeSense is life insurance protection that will provide your family with a monthly payout to help cover a mortgage payment (or other needs) if you pass away. It’s a type of policy known as declining term life insurance, with coverage that declines monthly until the last 5 years of the policy and insurance premium rates guaranteed to never increase.
Let’s say you are 35 and purchase a 30-year policy (coverage until you reach 65) that, upon death, pays out $2,500 per month. If you die five years later at age 40, your family would receive $2,500 per month for 25 years ($750,000 total payments). Your beneficiary is guaranteed a minimum five-year payout. So in this example, if you die at age 62, your family would receive $2,500 per month for five years ($150,000 total). The monthly benefit will never change. The total benefit will depend on your policy duration and when the payouts begin.
US citizens and permanent legal residents ages 20-55 are eligible to apply. Most applicants will be accepted, but some may not meet underwriting requirements.
Duration options are 10, 15, 20, 25 and 30 years or until age 65. However, coverage cannot be offered beyond age 65. For example, someone age 40 can have a maximum of 25 years of coverage.
When deciding on the term or duration of the policy, some factors to consider are: your age – the policy can cover you until you reach age 65; the ages of your children – how long you need to support them; if you have a mortgage – how many years remain on your mortgage. Many customers choose to match the duration to their mortgage, to age 65 (around their retirement) or to some other milestone of financial protection for their family and dependents.
Monthly coverage amounts range from $500 to $10,000 a month (for those who qualify). Coverage is capped by either your monthly income, or a maximum based on your age and policy duration per the two tables below. Additionally, coverage duration is capped by your age as shown in the table below. In some cases, starting coverage can be as high as $1,800,000 ($5,000 per month for 30 years).
Annual coverage (12 monthly payments) is capped at a percentage of your gross income, as follows:
  • Ages 20-30 – Capped at 150%
  • Ages 31-40 – Capped at 125%
  • Ages 41-55 – Capped at 100%
Monthly coverage is also capped by your age and duration of the policy, as follows:
Maximum monthly coverage based on age and duration of the policy
Applicant Age(s)
Coverage Period 20-34 35-39 40-43 44 45-49 50 50-51 52-55
To Age 65 $5,000 $6,000 $7,000 $7,000 $7,000 $7,000 $7,099
30-yr term $5,000
25-yr term $6,000 $6,000
20-yr term $7,000 $7,000 $7,000 $7,000
15-yr term $9,000 $9,000 $9,000 $9,000 $8,500 $7,000
10-yr term $10,000 $10,000 $10,000 $10,000 $10,000 $7,099 $7,099 $7,099
As an example, consider a 35-yr old making $60,000 per year ($5,000 per month). The monthly payments would be capped at 125% of gross income, or a maximum of $6,250 per month. Additionally, the maximum payments would be capped based on age and policy duration. If a 30-yr policy were purchased, the maximum payment would be $5,000 per month ($1,800,000 of initial coverage over 30 years). If, instead, a 20-yr policy were purchased, the maximum payments could be $7,000 per month based on age and policy duration, although the income cap of $6,250 would then become the cap. In that case, the maximum starting coverage would be $1,500,000 ($6,250 per month for 20 years).
This policy is designed to provide your family with a monthly payment, so it depends on your family’s needs. If you are purchasing this to protect their ability to stay in your home, you might consider covering your entire monthly mortgage payment (which includes principal, interest, taxes, and home insurance). If you are looking to replace your family’s lost income, then you might consider covering an amount equal to your after-tax monthly income (as life insurance proceeds are typically not taxable income to your family).
Pricing varies upon coverage amount, duration of policy and underwriting results. Getting a quote takes less than a minute. Two examples (your cost may differ):
  • A male age 30 could ensure monthly payouts of $2,500 for 30 years (starting coverage of $900,000) for as little as $39 per month
  • A female age 45 could ensure monthly payouts of $3,000 for 20 years (starting coverage of $720,000) for as little as $44 per month
You apply for this policy completely online. No medical exam needed. You can have an approval in minutes and your policy is delivered digitally.

1Maximum coverage amount varies from $5,000 up to 10,000 per month dependent on your age and policy duration. See 'How much coverage can I get?' FAQ for additional information.

IncomeSense income benefit individual decreasing term life insurance policy series ICC20 2006-4003-W WSA, ICC20 2006-4003-R WSA distributed by Gerber Life Agency and issued by Western-Southern Life Assurance Company (Western & Southern Life), Cincinnati, OH, which operates in DC and all states except NY. Both are members of Western & Southern Financial Group. Issuer has sole financial responsibility for its products. Policy approval and actual rates will be based upon the underwriting process, including but not limited to, additional information provided on the application. Product and feature availability, as well as benefit provisions, may vary by state. Gerber Life is a registered trademark. Used under license from Société des Produits Nestlé S.A. and Gerber Products Company. In the State of California, Gerber Life Agency, LLC is known as and does business as Gerber Life Insurance Agency, LLC. A.M. Best A+ Superior Rating: Superior ability to meet ongoing insurance obligations (second highest of 13 ratings; rating held since June 2009) Ratings are subject to change from time to time. The ratings shown here are correct as of 6/24/2022.

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