Sentences with phrase «benefit decreases typically»

While benefit increases tend to apply to all workers, benefit decreases typically only affect new workers.

Not exact matches

Previous research has shown that economic stress typically decreases as one gets older, with the over-65 crowd benefiting from home ownership, medical insurance, and Social Security.

Once your term ends, the term policy can be renewed annually, typically with an increased premium, decreasing death benefit, or both.

A decreasing term life policy (aka mortgage life insurance) features a death benefit that declines over time, even while the premium typically stays the same.

«At the end of the day, employers typically have a budget that they work within,» added UBA partner Andrea Kinkade, president of Kaminsky & Associates Inc. «Either employee payroll deductions (premiums) increase or employer HSA contributions decrease to keep benefit costs within the budget,» she noted.

Typically these policies have the same annual premium for each and every year, even though the benefit decreases each year.

Decreasing term life insurance is a type of «annual renewable» life insurance whose premiums are typically level, but whose death benefit payout decrease each and every month or year.

In many instances, the amount of the policy's death benefit will not decrease over time, and the premium is typically locked in at a guaranteed rate.

Typically, once a person qualifies for the coverage, the amount of premium charged will not increase, nor will the amount of the benefit decrease.

Variable universal life typically provides a minimum guaranteed death benefit that won't decrease as long as you make the required premium payments and repay any outstanding loan balances.

With most life insurance policies, you typically can not increase or decrease the death benefit.

When you buy a decreasing term life policy (sometimes referred to as mortgage life insurance), the death benefit is typically matched with the outstanding balance on your home loan.

Decreasing term offers a death benefit that decreases each year (even though the premium will typically stay the same throughout the life of the policy).

Decreasing term life insurance policies typically see the death benefit decrease at specific intervals during the course of the term.

Mortgage life insurance policies with decreasing benefits typically cost more than policies with level death benefits.

With variable life insurance, the death benefit may increase or decrease — however, it will not go below the guaranteed minimum amount — which is typically the original amount of death benefit that is purchased.

Today, however, the cost for a level term policy (benefit stays the same) and the cost of decreasing term insurance is generally the same, or at least within a few dollars, so agents nowadays typically use level term insurance to cover the home mortgage.

Some may allow you a reduce the death benefit and associated cost later in life, as the need for life insurance typically decreases once children are independent and mortgage is paid off or reduced.

The policy's benefit, or face value, will typically be tied to your outstanding balance, so it decreases over time as you pay off the loan.