Sentences with phrase «approved permanent life policy»

Conversion Benefit — This feature allows the policy owner to «convert» a term life policy into an approved permanent life policy from the same company, usually a universal life policy.

Not exact matches

Because this is a permanent life insurance policy, once the individual has been approved for coverage, the policy can not be canceled, unless the premium is not paid.

One of the nice benefits about permanent life insurance coverage is that, once an applicant has been approved for coverage, the policy won't be cancelled — provided that the premium continues to be paid.

Because this is a permanent life insurance policy, once the individual has been approved for coverage, the policy can not be canceled, unless the premium is not paid.

While the diabetic may have more health risks than a non diabetic, they can still get approved for a regular term or permanent life insurance policy.

Since it's a permanent life insurance policy, once coverage has been approved, it's only canceled if the premium isn't paid.

Any of us agents who have been around for more than 10 years can attest to the fact that we were taught that the beauty of a conversion option in a term life insurance policy is the fact that you can, within the given period in the contract, convert all or part of your term life to a permanent policy at the same rate class you were originally approved at.

It gave you the «option to convert all or part of the policy during the life of the policy to a permanent plan at the rate class originally approved without evidence of insurability».