Sentences with phrase «coverage after a policy term»

Even a small item on a CLUE report may lead the company to deny coverage after a policy term has ended or when it is near its end.

Not exact matches

The only difference is, your policy will terminate eventually with term coverage — typically after you retire, when, presumably, your family is no longer so dependent on your work income — whereas whole life policies are for a lifetime.

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.

«[E] ach policy of aircraft accident liability insurance... shall specify that it shall remain in force, and may not be replaced, canceled, withdrawn, or in any way modified to reduce the minimum standards set forth in this part, or to change the extent of coverage by the insurer or the carrier, nor expire by its own terms in regard to coverage for the carrier in its common carrier operations in air transportation, until 10 days after written notice by the insurer (in the event of replacement, by the retiring insurer), or by the insurer's representative, or by the carrier to the Department... which 10 - day notice period shall start to run from the date such notice is actually received at the Department.»

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

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.

Short - term Alaska apartments and hotels are incredibly expensive, but your policy will include loss of use coverage that covers those costs after a loss so that you'll have a place to go.

A term life insurance policy works exactly how it sounds; after purchasing coverage, or committing to pay for coverage on a regular basis, you receive life insurance for a certain number of years, or a «term.»

The supplemental term coverage will usually drop off the policy after a period of time such as, for example, at 10 years or at age 71.

But after reading about term policy, I got to know that we can only increase term policy coverage by paying more premium if you want to secure all members of family right (Example: We can increase the coverage amount when new baby born)?

A 30 - year term policy would provide coverage until after their children have graduated from college, and they have been able to stash away some money for the surviving spouse's retirement.

This type of policy, which covers someone for their entire life provided the premiums are paid, differs from term insurance, which covers someone for a defined period of time (after that set time term insurance policies usually have provisions for continuing coverage, albeit at higher premiums).

It's usually a term policy, which means the coverage expires after a certain number of years.

For instance, if paying for college is a major financial concern but you're pretty sure that you won't need life insurance coverage after the kids graduate, than it might make sense to buy a term policy that'll get you through the college years.

But if you think there's a possibility that you might need the coverage for a long time, then remember that if you want to renew your term policy after it expires or buy a new term policy at that time, your age, health status or other factors may make coverage very expensive.

Even though you may have a 10 - year term life policy, your coverage will not end after ten years.

If a pet owner chooses continued coverage after the 30 - Day Certificate, the wait periods for the full - term policy will be waived and they will be able to use their insurance immediately.

Acting as a universal life policy, the pricing and structure of the Protective Custom Choice UL plan is similar to a standard term life insurance policy and a great fit someone looking for keeping a decreasing amount of coverage after the end of the selected term.

These policies do not have a time frame, or «term» on them, so the coverage does not expire after a certain amount of time as it does with term insurance.

If you want to continue coverage after the term ends, you have the option to continue the policy by paying out - of - term premiums.

If you still need coverage after your term life policy expires, your carrier may offer the option to convert it to a permanent life insurance policy — without taking a new medical exam or answering health questions again.

A Whole Life policy lasts for a lifetime, while Term Life insurance ceases, or becomes ridiculously unaffordable, after the specific policy's term ends, leaving you with no coverTerm Life insurance ceases, or becomes ridiculously unaffordable, after the specific policy's term ends, leaving you with no coverterm ends, leaving you with no coverage.

For instance: If you buy a 20 year term policy and die one day after the 20th year, there is no coverage.

After the policy expires it becomes annual renewable term or you can convert the term to permanent coverage prior to expiry.

There's «annual renewable term,» which gives you one year of coverage at a time that you renew annually, «level premium term,» which you buy for a specific multiyear period — 10, 15, 25 or 30 years and «return of premium» which is like a level term policy but gives you all your money back after your term is over if you do not pass away.

But if you think there's a possibility that you might need the coverage for a long time, then remember that if you want to renew your term policy after it expires or buy a new term policy at that time, your age, health status or other factors may make coverage very expensive.

Assuming the client does not choose to extend their term life policy, the coverage would lapse after the 20th year.

After selecting your coverage, reviewing the quote, and accepting the terms, «binding the policy» is the final stage, when the application for insurance is officially accepted.

Also, make sure your policy covers chronic diseases — which are long - term and usually not curable — on a continual basis, meaning coverage continues for that disease after the year it was first diagnosed.

It's usually a term policy, which means the coverage expires after a certain number of years.

Also, make sure your policy covers chronic diseases (which are long - term and usually not curable) on a continual basis (meaning, coverage continues for that disease after the year it was first diagnosed).

This permanence can provide peace of mind for people who feel they still need coverage later on in their life after a term life insurance policy has expired.

$ 50,000 of term life insurance that can be issued from age 16 to 45, with coverage to age 50 or 10 years after the policy is issued (whichever is later).

So, if a policyholder had purchased a Colony Term universal life 10 policy, and then they decided five years after purchasing it that they wanted to have coverage for the remainder of their lifetime, then the coverage extension feature would have allowed the insured to extend the death benefit protection guarantee to either age 90, age 100, or 105 — and, this could occur without the need for the insured to provide evidence of insurability.

In some states, you may buy another 6 - month short - term policy immediately after your first one expires, essentially giving you one year of coverage.

If you think you'll likely want to continue coverage after your current term life insurance policy has expired, a policy conversion could be the right answer for you.

After the term duration has expired, you'll be forced to pay extraordinarily high premiums, convert to a permanent policy at the age you apply, or simply let go of the coverage.

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.

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 New Jersey, pre-existing condition limitations in long - term care insurance shall not exclude coverage for more than six months after the effective date of coverage under the policy for a condition for which medical advice was given or treatment was recommended by or received from a physician within six months before the policy's effective date.

Buyers of the accidental death coverage can apply to upgrade to «Fabric Premium,» a 20 - year term life policy, immediately or years after buying the accidental death coverage.

Individuals who sign up for no - exam term life insurance policies when they are young may find it difficult to renew their coverage after their term expires.

As long as the accident is covered within the terms of your policy, PIP coverage pays for medical bills, income losses and other related expenses incurred by you or your passengers (after your deductible, and up to your covered limit).

After the covered child reaches age 25, he or she can maintain life insurance coverage by converting to a permanent life insurance policy from Protective Life for up to five times the amount of the Children's Term Life Insurance Rider coverage.

Even though you may have a 10 - year term life policy, your coverage will not end after ten years.

A term life insurance policy works exactly how it sounds; after purchasing coverage, or committing to pay for coverage on a regular basis, you receive life insurance for a certain number of years or a «term.»

The lion's share of policies actually provide coverage to age 95, however, most people drop them after the initial 20 year term because they don't want to pay the increased rate.

Most life insurance policies purchased through employers are term policies that provide coverage only during the time of employment, but sometimes an individual will continue the policy after leaving the company.

Short - term Alaska apartments and hotels are incredibly expensive, but your policy will include loss of use coverage that covers those costs after a loss so that you'll have a place to go.

After your term insurance policy expires, you have the option of renewing your coverage for another 10 years.