Sentences with phrase «characteristic of whole life policies»

A coverage characteristic of whole life policies, sometimes called permanent life insurance, is the accumulation of cash value besides providing a death benefit.

What I just described are the characteristics of a whole life policy.

Not exact matches

Another coverage characteristic of term life insurance is that the policy holds no cash value, a reason term life insurance polices may be more affordable for some consumers than whole life policies.

Also note that some of this flexibility in payment is characteristic of universal life insurance primarily, and does not necessarily apply to whole life insurance policies, where the premium payments are fixed and the policies can lapse from not paying.

With and adjustable whole life insurance policy, should your needs change, you may change characteristics of your policy, such as altering the policy's protection period, changing the face value amount of the policy or the premium, or changing the premium's payment period.

Adjustable life insurance is a type of life insurance that combines features of term and whole life coverage, giving policyholders the option to change the characteristics of their policies as their needs change over time.