Sentences with phrase «amount over the term of the policy»

Universal Life policies give you the ability to adjust the premium amount and benefit amount over the term of the policy.

Universal Life policies give you the ability to adjust the premium amount and benefit amount over the term of the policy.

It is important to start early so that one can save a lot on the premium amount over the term of the policy.

With a Universal Life insurance policy you have the ability to adjust the premiums and the benefit amount over the term of the policy.

Not exact matches

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Another thing to consider is that a mortgage life insurance policy is often written as a decreasing term policy, so the death benefit decreases over time, (just as your mortgage payoff amount decreases as you pay your monthly mortgage payments), but the premium remains the same over the life of the policy.

If you are looking for a life insurance policy that will just cover you for a specific amount of time, such as when your children are young or while you are paying a mortgage, you may want to consider a term life policy over a permanent life policy.

In the New Policies Scenario, cumulative CO2 emissions over the next 25 years amount to three - quarters of the total from the past 110 years, leading to a long - term average temperature rise of 3.5 °C.

At issue was whether OCGA 33 -32-4 (a) authorizes the insurer to issue a credit life insurance policy which covers the total amount payable over the term of the loan or limits the policy's coverage to the principal amount financed by the insured.

If the child is eligible, at the end of the term period, the benefit may be able to be converted over into a qualified permanent life insurance policy, with a benefit that is up to 5 times the original amount of the term coverage — regardless of the child / insured's health.

Decreasing term life insurance provides coverage at a fixed price but the insurance amount decreases over life of the policy.

Decreasing term life insurance, also known as mortgage insurance, has a constant premium amount but the death benefit declines at a set rate over the course of the policy.

Saving for the future: An endowment policy, in particular, ensures that the policy - holder saves regularly over a specific period of time so that they will receive a lump sum amount on the policy maturity in case they survive the policy term.

Both term and permanent policies allow you to select an amount of coverage in exchange for your premium payments over the life of the policy, providing a lump sum payment to your beneficiaries when you die.

Another thing to consider is that a mortgage life insurance policy is often written as a decreasing term policy, so the death benefit decreases over time, (just as your mortgage payoff amount decreases as you pay your monthly mortgage payments), but the premium remains the same over the life of the policy.

While the premium for permanent life insurance may initially be higher than that of term life coverage, in most cases, the amount due will not increase over time — regardless of how long the insured keeps the policy.

To begin with, decreasing term life insurance premiums stay the same, but over the term of the policy, the payout amount decreases.

Decreasing term life insurance policies allow people to purchase insurance over a set amount of time for a low and fixed monthly premium.

The cash value grows over time at an interest rate set by the terms of the policy, and is equivalent to the amount of money you would receive if you surrendered the policy to the insurer.

Level term life insurance policies provide a fixed amount of coverage over a specific period of time.

Now in the case of needing a big amount of coverage like anything over $ 20 million then it makes sense to get multiple policies or if you want certain term lengths for different needs.

Roughly assuming that whole life insurance is about 8 to 12 times the cost of a comparable 20 year term policy, the left over money NOT SPENT on a whole life policy allows the insured to save a huge amount of money in 401Ks, Roths, HSAs, Saving Accounts, and by paying down their mortgage early.

For those who have shorter term coverage needs, and / or a limited amount of money to spend on life insurance premiums, a term life insurance policy could very well be the best alternative — especially one that has the option of being converted over into a permanent policy in the future, regardless of the insured's health condition.

Because of this, term life insurance can be an affordable way to secure a significant amount of necessary coverage — and, the term life insurance policies that are offered by Legal and General / Banner Life Insurance Company can be converted over into permanent insurance protection by the insured.

This is different from a decreasing term policy where the amount of the death benefit proceeds will become less over time.

You can even layer multiple term life policies to provide different amounts of coverage over time periods where your needs may change.

Therefore, while the amount of a permanent life insurance policy's premium may start out higher than that of a comparable amount of term coverage initially, over time a permanent policy's premium could end up to be less.

If the child is eligible at the end of the term, the benefit may be converted over to a qualified permanent life insurance policy — for up to 5 times the original amount of coverage — regardless of the child's current health condition.

The difference is that instead of offering a locked - in amount of coverage that lasts over the entire term — the duration of the policy — the coverage decreases in value at a set rate.

The Ladder Strategy is a method of combining separate term life insurance policies in a way that decreases your coverage over time — saving you money now in a way that still ensures you and your loved ones will have the right amount of coverage in the long term.

The conversion option in your term life policy allows you to convert over as much of the original face amount you would like to a permanent policy without taking a new health exam.

While this means that the premium may be more than that of a comparable term life insurance policy, these policies also offer the ability to build up a nice amount of tax - deferred savings over time.

As its name implies, an increasing term life insurance policy is one in which the amount of the death benefit will increase over time.

By purchasing a term life policy over a comparable amount of permanent life insurance coverage, you will be savings a great deal in premium.

Under participating insurance plan, only a minimum amount is guaranteed (upfront) at maturity and the rest depends on the quantum of bonuses announced over the policy term by the insurance company.

With a level term life insurance policy, the amount of the death benefit will remain the same over the entire lifetime of the policy.

You not only receive money back over frequent intervals of the policy tenure, a sum assured at the death of the policy term, bonus amounts as declared by the insurer but also an adequate insurance cover for the whole of the policy period.

This way if you were to die late in the policy term, there would be a substantial amount of money left over for your beneficiary after paying off the mortgage.

By buying / attaching term insurance riders to the policy, a policyholder can be certain that his nominee will get an amount over and above the basic sum assured (due to any of the rider - related incidents).

To sum up, an endowment policy is essentially a life insurance policy, which in addition to covering the life of the insured, also helps him or her save regularly over a specific period of time so that he or she receives a lump sum amount at maturity in the event of him / her surviving the policy term.

Premiums amount can be paid regularly at yearly, half - yearly, quarterly or monthly mode through ECS only or through SSS mode over the term of policy by the customer.

Your «Aggregate» limit is the total amount the insurance company will pay for multiple claims over the course of one policy term (which is usually one year).

If you survive the policy term upto the date of maturity, you receive the survival benefit - a lump sum amount multiplied over the years.

Level term life insurance policies provide a fixed amount of coverage with premiums that remain the same over a certain period of time, usually 5 to 10 year increments.

When you purchase a traditional whole life insurance policy, the amount of your premium does not increase over time, unlike a term insurance policy.

Generally, with a term policy, you select the length of time and amount of coverage, and your payments remain the same over time.

For example, with SBLI you can get a 30 - year fixed term with a face amount of $ 250,000 for just over $ 26 monthly and get your policy issued without an exam.

An Endowment Plan helps the policyholder save regularly over a period of time, so you can receive a lump sum amount on maturity in case you survive through the end of the policy term.

These policies are issued for an amount equal to the balance of the mortgage, and the coverage decreases in value over time, making them a form of decreasing term life insurance.

Until a few years ago, many people purchased mortgage insurance, which is usually a reducing term policy, which means the amount of coverage decreases with your mortgage over the length of the mortgage (typically 30 years).