Sentences with phrase «convert term coverage»

If you still need a small amount of life insurance, having a longer term may benefit you; many life insurance companies will allow you to convert a your term coverage into a permanent life insurance policy.

Future dividends paid on the policy in its early days are later used to convert term coverage into permanent coverage as you age.

Convertibility: many policies allow you to convert term coverage into permanent insurance once the term is over without additional proof of good health — also known as «evidence of insurability.»

The conversion rider should allow you to convert the term coverage to any permanent policy the insurance company offers with no restrictions (i.e., having to convert by a certain age during the first five to 10 years that the term policy is in force, or limiting partial or multiple conversions).

Not exact matches

No medical exam life insurance is more expensive than fully underwritten coverage and typically provides fewer options, such as the ability to increase your death benefit or convert a term policy to permanent coverage.

Since life is unpredictable, term insurance often has an added feature: the ability to convert the term policy to permanent coverage within a certain conversion period — for example within the first 10 years of a 20 year policy.

Any term life insurance policy from Foresters can also be converted to a permanent life insurance policy if you still need coverage later.

If, for example, you received a significant promotion and raise 5 years after purchasing term coverage, you might want to convert to a permanent life insurance policy to take advantage of the tax benefits and receive dividends.

At certain points during the period of coverage, you can convert your term policy to a permanent life insurance policy (such as a whole life insurance policy or universal life insurance policy) and premiums are determined by your original health rating.

No medical exam life insurance is more expensive than fully underwritten coverage and typically provides fewer options, such as the ability to increase your death benefit or convert a term policy to permanent coverage.

After the initial term, the policy converts into 1 - year annually renewable coverage, meaning your premiums increase each year according to your age.

This means that, if you decide to leave the company, you'll be offered the option of converting your coverage to an individual policy under the same terms.

If you had term supplemental insurance coverage and would have trouble gaining access to comparable rates elsewhere, you should convert your policy.

The AARP offers term life insurance coverage for members between the ages of 50 to 74 and policies can be converted into a permanent life insurance policy at any point during coverage.

LifeElements is convertible term life insurance, allowing you to convert all or a portion of the face amount to permanent coverage before the end of the term or by age 70, which ever is less.

All of Northwestern Mutual's term life insurance policies offer the option to convert your coverage to permanent life insurance with guaranteed acceptance.

AUL's term life insurance includes a conversion option that allows the insured to convert all or a portion of the policy to permanent coverage.

The advantage of convertible term insurance is you can convert all or a portion of your death benefit to permanent coverage without having to prove your insurability, in other words, you don't need to take an exam or answer health questions.

As a result, some term life policies feature an option to convert the coverage into permanent life insurance within certain parameters.

Which means that you made the decision to get your life insured, that way, if you develop some type of health condition that would either make it impossible or cost prohibitive to purchase another policy, you can always convert your term policy to permanent coverage, regardless of your health condition.

For those with term coverage that have the WOP rider, you can convert your policy to a permanent policy if you are disabled for 2 years and base premiums will be waived.

Any term life insurance policy from Foresters can also be converted to a permanent life insurance policy if you still need coverage later.

The good news is you have convertible term life insurance, which allows you to exercise the option with the insurance company to keep your coverage for the rest of your life by converting the term policy to whole life or universal life.

In other words, if you have a term policy and you get sick or injured in a way that would prevent you from being insurable, you can convert to a permanent life insurance policy without taking a medical exam or answering health questions and keep the life insurance coverage the rest of your life.

The policy is convertible term life insurance, which allows the owner of the policy to convert all or a portion of the coverage to whole life insurance coverage before the term policy expires or age 65.

Policyholders can then choose to extend coverage after a term ends by either purchasing a new policy or converting a qualified term insurance policy to a permanent one.

In addition, if you're undecided between term and permanent coverage, any of Banner's term policies can be converted to a universal policy so long as you're below age 70.

If you choose to convert only part of your insurance coverage, the balance remaining under your CoverMe Term Life policy must be a minimum of $ 100,000 (and a multiple of $ 25,000).

Ameritas» Keystone term policy is convertible term life insurance which allows the insured to convert all or a portion of the policy to permanent coverage.

So if you are considering permanent coverage but whole life insurance quotes have you hesitant to commit, consider buying a term life policy from one of the top mutual insurance companies so you can convert to one of their top permanent policies.

Even though term insurance is not permanent coverage, you can usually get policies that will run for as long as 20 or 30 years, and may also contain automatic renewal provisions that will allow the term to be extended, or for the policy to be converted to permanent insurance at a later date.

This means that, even if the insured has contracted certain health - related issues, he or she could still qualify to convert their term life coverage to a permanent plan.

The policy is convertible term life insurance, which allows you to convert your term policy to permanent coverage.

One reason to consider choosing convertible term life is that you can get low cost coverage while your income is lower but you lock into a policy that can then be converted to permanent coverage once your finances improve.

If you aren't yet certain that you want term coverage, Voya also offers a wide selection of permanent life insurance policies and you can convert your policy later without having your health reassessed.

Depending on you overall financial goals, it would be worthwhile to at least investigating converting all or part of the coverage on your term life insurance policies.

If you primarily wanted coverage to replace your income before you retired or cover certain expenses, like a mortgage, we wouldn't recommend converting to a permanent policy as you'll pay higher premiums than if you purchased a new term policy.

Feldman says that he often counsels individuals to «ladder» into permanent coverage, converting 20 percent of their term life policy every two years as their earnings power grows.

Look for an individual long - term disability policy that can do a temporary group plan offset in your policy and that otherwise converts to the full coverage desired when you cease to be a group member (i.e. you resign from the job or are terminated.)

Also, the insured may also wish to take advantage of the conversion option, which can allow him or her to convert the term policy over into a permanent form of life insurance coverage.

Converting a term policy over into a permanent form of coverage can allow an insured to obtain life insurance protection for life — regardless of future age increases and the possibility of contracting an adverse health condition.

Child's Term Insurance — term rider providing life insurance for children until age 23, at which point the policy can be converted to permanent coverTerm Insurance — term rider providing life insurance for children until age 23, at which point the policy can be converted to permanent coverterm rider providing life insurance for children until age 23, at which point the policy can be converted to permanent coverage.

If you still need that financial safety net when you're in your 60s or 70s, you'll need to shop for a new policy (which may be prohibitively expensive) or convert your term life policy to whole life to continue coverage — a feature typically offered by most carriers for free.

You might be able to continue coverage beyond the original term at a higher premium, or possibly convert to a permanent policy (subject to age restrictions and policy minimums) while the policy is in force.

The most common rider — a Term Rider — can be linked to a permanent policy to enhance short - term coverage or be converted to its own permanent polTerm Rider — can be linked to a permanent policy to enhance short - term coverage or be converted to its own permanent polterm coverage or be converted to its own permanent policy.

However, depending on your age, health status, and time left in the term, you may be able to extend the coverage or convert the policy to a permanent policy.

Minnesota Life's convertible term life insurance includes the option to convert all or a portion of the policy to permanent coverage prior to the end of the term.

Penn Mutual's convertible term life insurance allows the insured to convert all or a portion of the policy to permanent coverage prior to the end of the term or age 70.

With a convertible term policy, you can simply convert to a permanent life insurance policy and have coverage for the rest of your life, even if you have become «uninsurable» since getting your first policy.

Of course, if you do not want to convert the policy when it ends, then you will have to get a new term policy if you still want coverage.