Sentences with phrase «constant over the life of the policy»
Whole life insurance: The most common type of permanent life insurance, in which premiums generally remain constant over the life of the policy and must be paid periodically in the amount specified in the policy.
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They pay a lower premium rate that increases gradually over the first three to five years and then remains constant over the life of the policy.
Generally, the premiums remain constant over the life of the policy.
Not exact matches
Decreasing term life insurance, also known as mortgage insurance, has a constant premium amount but the death benefit declines at a set rate over the course of the policy.