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Does anyone have experience or a Term Life insurance with Asteron recovery?

I've researched and have a insurance agent quoting me on Term life $500,000 include trauma buy back for $100,000 for annual premium cost of $1,821.91 monthly $160.00 for level. The insurance agent says this is level until aged 65yrs then becomes stepped. I read somewhere on yahoo, that a Term insurance is not ongoing, as it stipulates there is a term of so many years and if there's no death there's no payout, can anyone confirm this. We're waiting on the paperwork next, this seems to be the cheapest premium I can find for my 48yr husband. Having second thoughts, as I need someones opinion who has experience with policies to let me know what I need to watch out for. Thank you for any guidance.

Public Comments

1. That seems like a lot of money. And, it sounds like at age 65 the premium goes up? I never heard of Asteron recovery. Looks like they are not in the US. They are in Austrailia? Contact the Department of Insurance in your state or the Government that handles insurance where you live for help.
2. lowest premium would be whole life paying the first 4 years and then letting cash value/dividends pay remaining premiums to age 65. NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY MILW. WISCONSIN USA the example you ask about sounds confusing call NORTHWESTER MUTUAL LIFE for a quote and explanation by one of their agents of my suggestion