Sentences with phrase «clause in the term life policy»

Not exact matches

And if you are shopping for a term life insurance policy now, having this clause included in the policy should be a priority.

The guaranteed renewal clause is a provision in your term life insurance policy that guarantees you will have the right to renew your policy when the term expires.

The renewable clause in a term life insurance policy allows you to renew your policy at a set rate without undergoing a medical exam.

Every ordinary life insurance policy (term, universal life and whole life) that is approved and issued today contains a «contestable clause» that is in effect for a full two year period from the policy date.

But unlike term life, you can't simply stop paying the premiums and assume the policy will end, because most whole life policies have something called a «nonforfeiture clause» that kicks in.

Term life insurance policies have a two year suicide clause, meaning if you commit suicide in the first two years of the policy date the full benefit will not be paid out.

Term life insurance is straightforward in that the policy covers any type of death; natural or accident, with almost policies all having a two year suicide clause.

And if you are shopping for a term life insurance policy now, having this clause included in the policy should be a priority.