Unlike permanent life insurance policies, which are more expensive and stay in place for as long as you pay your premiums, term life insurance ends.
Unlike permanent life insurance policies, the option to access the cash value of a policy does not exist with term life insurance coverage.
However, the policy does not provide any returns beyond the death benefit (the amount of insurance purchased); the policy has no additional cash value,
unlike permanent life insurance policies, which have a savings component, increasing the value of the policy and its eventual payout.
One reason for this is because,
unlike permanent life insurance policies, term life offers only death benefit protection, without any cash value build up.
Unlike permanent life insurance policies, term life ends after a specified number of years and does not feature any sort of savings or investment component.
Unlike permanent life insurance policies which remain in effect for your entire life (assuming your premiums are paid on time), term life policies remain in effect for a specific term or period of time.
Unlike permanent life insurance policies — like whole or universal life — term policies do not accrue cash value.
Not exact matches
Unlike term, a
permanent life insurance policy will stay in force, unless it is canceled by the policyholder or the premium stops being paid for the coverage.
Permanent life insurance policies,
unlike term
life insurance policies, do not have an expiration date.
Unlike a term
life insurance policy, a
permanent life insurance policy lets you rest assured that your beneficiaries will receive funds — regardless of when you die — as long as your premiums are kept up.
Unlike term
insurance, a
permanent life insurance policy is good for the entire
life of the policyholder.
Unlike permanent life insurance, though, term is only good for a set period of years, most commonly a 10, 20, or 30 year
policy.
Unlike term
life insurance policies, which do not build a cash value and always have a level death benefit,
permanent life insurance policies allow the owner to select a level or increasing death benefit (sometimes called option 1 or option 2).
Unlike whole
life insurance, which is considered a type of
permanent life insurance, level term
policies will eventually come to an end at a specific amount of time based on the
policy you purchase.
But
unlike term
life insurance, you have the unique options to exchange the
policy for traditional
permanent coverage without another medical exam, or adjust the death benefit if your needs change.
Unlike other types of
permanent life insurance you can see a lot of details with a universal
life policy.
This rider can be incorporated into Term
life insurance policies which have a term period you can outlive
unlike permanent plan designs such as Universal or Whole
life insurance.
Unlike permanent life insurance, term
policies provide coverage for a limited period of time.
Permanent life insurance policies,
unlike term
life insurance policies, do not have an expiration date.
Unlike term
life insurance, a
permanent policy will not expire after a certain amount of time has elapsed.
Unlike other
permanent types of
life insurance, universal
life insurance let's you adjust the benefit amount up or down without having to get a new
policy.
Unlike permanent life insurance coverage such as whole
life, term
insurance does not provide any type of cash value build - up or investment feature within the
policy.
Permanent life policies pay death benefits, but (
unlike term
insurance) cover you for your entire
life.
Unlike other types of
permanent life insurance, term
life policies do not build any cash value and are not designed to be used as long - term investments.
Unlike term
insurance, a
permanent life insurance policy will offer protection for the remainder of your lifetime — provided that you continue to pay its premium.
Unlike term
life insurance,
permanent life policies do not have any type of set «term» of coverage, but rather they last indefinitely.
This is because
unlike other types of
permanent policies, variable
life insurance gives you complete control over your investments - be they stocks, bonds, or money market funds.
Unlike term
life insurance,
permanent life insurance policies accumulate cash value which can later be borrowed from or surrendered for cash value.
Unlike term
life insurance, there is no time limit on a
permanent life insurance policy, provided that the premiums continue being paid.
We're big proponents of term
life insurance, since,
unlike a
permanent whole
policy, you're not locked into terms that won't suit you after a few years.
Unlike 401K withdrawals that come with a bunch of fees, penalties and exclusions, cash value in
permanent life insurance can be withdrawn up to your basis in the
policy tax free.
A variety of
permanent life insurance plan (which doesn't expire,
unlike term
life insurance), this sort of
policy covers your family if you die during your working years, but also has the ability to build savings that can be drawn upon later in
life.
Permanent life insurance also has a guaranteed cash value,
unlike term
insurance, which will allow you to borrow against the
policy.
Unlike term
life, which has an end date, cash value
policies are
permanent life insurance, i.e. they last your entire
life.
Unlike term
life policies,
permanent life insurance covers you your whole
life and can act like a savings account that you can borrow money against.
An indexed universal
life insurance policy,
unlike other
permanent life insurance policies, can make your money work for you when the stock market is doing well, but protect your investment when it isn't.
Unlike term
life insurance,
permanent life policies last for the rest of your
life, or until age 100 in some cases.
Unlike term
policies,
permanent life insurance policies will remain in effect for as long as you continue to make payments on your premiums.
However,
unlike a term
insurance policy, a
permanent life insurance policy will have no set time limit on it.
Unlike term
life insurance, a
permanent life insurance policy can offer you coverage that will last your entire
life.