Sentences with phrase «call ordinary life insurance»

On October 25th of 1983, a bill was introduced to the senate which sought to clarify how a life insurance contract was viewed according to the Internal Revenue Code, where cash accumulation was involved, or what we call ordinary life insurance contracts.

However, there is a small percentage of Americans who are utilizing a life insurance contract in a much more consequential way, and this type of policy is called ordinary life insurance.

Not exact matches

Permanent life insurance, also called whole or ordinary life, is the most common type of permanent policy.

Whole life insurance, or whole of life assurance (in the Commonwealth of Nations), sometimes called «straight life» or «ordinary life,» is a life insurance policy which is guaranteed to remain in force for the insured's entire lifetime, provided required premiums are paid, or to the maturity date.

The most common type is called «straight life» or «ordinary life» insurance, for which you pay the same premiums for as long as you live.

Level premium whole life insurance (sometimes called ordinary whole life, though this term is also sometimes used more broadly) provides lifetime death benefit coverage for a level premium.

While ordinary life insurance policies, also called whole life, may be too expensive for many younger people, term life insurance offers people the ability to take care of their families for a very low, affordable monthly premium.

Permanent life insurance includes ordinary life, also called whole life insurance, and universal life insurance.

Permanent life insurance, also called whole or ordinary life, is the most common type of permanent policy.