NU Online News Service, July 23, 2003, 1:19 p.m. EDT – Guarantee Trust Life Insurance Company, Glenview, Ill., has introduced a 30-year term life policy with a 20-year guarantee.

Guarantee Trust is selling the policy as part of its Home Alliance program.

Guarantee Trust designed the Home Alliance program to protect the families of home mortgage borrowers. When insureds die, the families can use the death benefits to make mortgage payments or handle other expenses.

Guarantee Trust will guarantee the premiums for the new 30-year policy for 20 years. Premiums can change after 20 years, but they will never exceed the maximum premium shown in the policy, Guarantee Trust says.

The maximum issue age is 45. Policyholders can renew the policies up to age 85. The standard maximum Home Alliance renewal age is 70, Guarantee Trust says.

Guarantee Trust also offers Home Alliance policies with premiums that are guaranteed to be level for 10, 15, 20 or 30 years, along with a 30-year decreasing term policy.