Sentences with phrase «because joint life insurance policies»

This is because joint life insurance policies are typically intended to protect a couple or your children whenever you pass away.

This is because joint life insurance policies are typically intended to protect a couple or your children whenever you pass away.

Not exact matches

Because the premium for survivorship insurance is based on joint life expectancy, the cost is usually less (per thousand dollars of death benefit) than it would be for a policy covering either life alone — and significantly less expensive than buying two separate policies.

That means more premiums paid and, for the 20 percent of joint policies that are made up of term life insurance, a higher chance that the death benefit won't be paid out at all (because the policies will expire before the policyholders do).

Survivorship life insurance can be more affordable than two individual policies because rates are calculated based on the joint life expectancy of the insured individuals.

But joint life insurance can be convenient because there's only one policy throughout the process.

A joint life insurance policy is a possibility, but it's not really the best option because of the expense (it's usually a permanent policy, so it costs more than term life insurance) and it can get confusing when you get into the difference between first - to - die and second - to - die policies and what to do if there's a divorce.

Joint life insurance is an option many couples choose because of the convenience of having only one policy.

A lot of working individuals prefer joint life insurance because the premium usually is lower when compared to two separate policies.