Sentences with phrase «as permanent insurance plan»

Not exact matches

Permanent life insurance policies, often called «whole life» insurance policies as a general term, are life insurance plans that are structured to last for a person's entire life.

The coverage provided by the rider can be converted to a permanent policy as long as a plan of insurance is available at the additional insured's current age.

People who need permanent life insurance protection but wish to take advantage of possible cash accumulation via an equity index might use IULs as key person insurance for business owners, premium financing plans or estate - planning vehicles.

With these plans, the borrower must maintain the home as a permanent residence, continue to pay property taxes and home insurance, and keep up basic home maintenance.

As a teaser, the tax advantages of permanent life insurance may be used to expedite cash value accumulation for many purposes including retirement planning and investing.

Other types of permanent life insurance may be suitable for college savings plans, such as indexed universal life insurance OR variable universal life insurance.

Some types of permanent life insurance policies, such as whole life insurance, can offer many benefits that are distinct from term life plans.

It is a permanent whole life insurance plan that can be chosen as either a fixed, graded, or modified payout.

If you are wealthy and wish to leave an inheritance to your heirs, or if you require a life insurance policy that can also function as an estate planning tool, a permanent policy may make more sense for you.

Everything else being equal, the main reasons to purchase permanent insurance are: (1) if you have a dependent, such as a special - needs child or handicapped loved one, who relies almost solely on your income to live and who will need to rely on it after your death in perpetuity, or (2) if you have few, if any, other assets and don't actively plan on having any that could be used to cover the cost of your funeral, to pay off any outstanding debts, or to provide some inheritance to your family.

«Term life is great for income replacement during your working years, but it's generally not suitable for a permanent need such as estate planning,» says Tom Ewanich, vice president and actuary at Fidelity Investments Life Insurance Company.

Permanent life insurance policies provide a death benefit as well as other unique features such as lifelong protection and the ability to accumulate cash values on a tax - deferred basis, similar to assets in most retirement - savings plans.

In the end, adding a permanent life insurance policy to your investment portfolio can be a good option to help mitigate the risk of early death as well as build some cash value that can be used for a variety of purposes, including retirement income, but it should never be used as your only method of investment planning.

A term life insurance policy may work for you if you only need coverage for a limited amount of time (such as when your children are young), especially since permanent life insurance can be more expensive than term life plans.

Because of that, permanent life insurance policies are often used as financial planning tools that can serve many more purposes than just simply paying out a death benefit.

Because it never expires *, permanent life can be used as the foundation of your overall life insurance plan for a variety of life stages and financial needs.

Because other kinds of permanent life insurance (i.e. indexed universal life) are simply more speculative as connected to the financial markets with limited guarantees, they simply aren't as reliable (in our opinion) for executive bonus plans OR split dollar plans.

When permanent cash value life insurance is used for an executive bonus plan, as opposed to term life insurance, the accruing cash value of the policy can offer an additional incentive to the employee (know the difference between term life vs whole life).

Estate tax planning should not be overlooked because there are many techniques available to reduce estate taxes, such as holding assets in joint ownership, establishing testamentary trusts, and the purchasing of permanent insurance policies to cover estate income taxes.

Are generally more affordable than permanent insurance as the cash value components of these plans are costly

Permanent life insurance for estate planning and business succession, such as funding buy - sell agreements, is recommended.

The IUL also has a cash value, and is a form of permanent insurance, which is ideal for business succession planning such as funding a buy sell agreement with life insurance or key person insurance.

The most common plan designs are Term life insurance and the permanent version known as Universal life.

A conversion option is available on the 10, 15, 20, 25, 30 year plans as well, if you decide you want permanent universal life insurance.

If you apply for Term life insurance or a permanent plan design such as Universal Life your rates will be based on the usual underwriting criteria that every civilian follows below:

Many consumers opt to buy term insurance as a temporary risk protection and then invest the savings (the difference between the cost of term and what they would have paid for permanent coverage) in a brokerage account, mutual fund or retirement plan.

There is no set time limit on a permanent life insurance policy's coverage, as many of these plans are intended to provide coverage for the remainder of an insured's lifetime (provided that the premium is paid).

If you are planning on applying for Term life insurance or Universal Life permanent type insurance as well, the information you are about to read in this blog post should answer the majority of your questions you may have and make you a much more intelligent life insurance shopper.

Term life insurance quotes will be the lowest and then followed by the permanent plan designs such as Universal life insurance and Whole life.

You also need a permanent life insurance plan, where the death benefit would be enough to supply a future income to the surviving spouse, for as long as she lives, which is equal or greater than what she may have received from the join and survivor benefit plan.

I have developed this list of life insurance companies based on the fact they would all make a fine choice when shopping for low cost Term life insurance or the permanent plan designs known as Universal Life Iinsurance companies based on the fact they would all make a fine choice when shopping for low cost Term life insurance or the permanent plan designs known as Universal Life Iinsurance or the permanent plan designs known as Universal Life InsuranceInsurance.

If will find the largest impact on rates will be reflected when you apply for Term life insurance or any of the other policies such as permanent Universal life plan designs.

If you apply for Term life insurance or a permanent plan design such as Universal Life.

As a form of permanent life insurance, this plan provides death benefits and a cash value accumulation feature which grows through the life of the policy.

Should I buy Term life insurance or a permanent plan design such as Universal Life or Whole Life?

As you can guess from the name, these plans are a permanent form of insurance protection, which means that as long as you continue to pay the premiums for the plan, you'll have coveragAs you can guess from the name, these plans are a permanent form of insurance protection, which means that as long as you continue to pay the premiums for the plan, you'll have coveragas long as you continue to pay the premiums for the plan, you'll have coveragas you continue to pay the premiums for the plan, you'll have coverage.

Although Phoenix Life Insurance Company offers a variety of financial services and insurance products such as estate planning strategies, annuities, and income strategies, their primary focus is centered on permanent universal, variable, and whole life iInsurance Company offers a variety of financial services and insurance products such as estate planning strategies, annuities, and income strategies, their primary focus is centered on permanent universal, variable, and whole life iinsurance products such as estate planning strategies, annuities, and income strategies, their primary focus is centered on permanent universal, variable, and whole life insuranceinsurance.

If the company Dennis worked for had a workers» compensation insurance plan in place, it would cover the cost of all medical procedures; in cases such as this, it would also pay out a lump sum payment for a permanent disfigurement.

Whole life insurance, a kind of permanent life insurance, builds value over the entirety of your life, and remains in effect as long as you pay your premiums according to your plan.

If their income allows, some, too, opt to purchase a permanent life insurance policy as well to meet other financial goals, including estate planning or charitable giving.

Here, an insured may convert over to the ISP CHOICE plan — up to and including age 65, or alternatively, the insured can opt to convert to any of the other permanent life insurance policies offered through Foresters, such as Interest Sensitive Whole Life.

As medical expenses are very high in the U.S. you should purchase OPT medical insurance until you qualify for a permanent major medical insurance plan that is PPACA compliant.

When the Primary Insured Rider is combined with base coverage, it can reduce premium costs for the amount of coverage as compared to the cost of a permanent life insurance plan of the same face amount.

Permanent life insurance plans, such as whole life and universal life, may have policy features like financed premiums or loans against the policy that will need to be factored in before paying the beneficiary.

However, if you need life insurance for such things as estate purposes, inheritance taxes, business reasons, or to set up a trust or donate to a charity, then you might be better advised to look at some other form of permanent insurance plan such as whole life or a universal life insurance policy.

High net worth individuals and business owners will often use permanent life insurance plans to account for estate taxes as well as business succession planning.

Term life insurance is the most popular plan design and including a permanent plan together such as Universal life insurance gives you a complete portfolio of financial protection for the rest of your life.

Convertible term policies allow you to convert your term plan into a permanent form of life insurance, such as universal or whole life.

The other option is to either purchase a permanent plan design such as Universal Life or add a smaller Universal life on to an existing life insurance portfolio that includes a Term insurance policy.

They also offer whole life and universal life insurance, known as «Farmers Essential Life», which offers the advantage of a permanent plan and cash accumulation, but with the flexibility to adjust when you pay premiums and the amount you pay.