Sentences with phrase «current age of the insured»

Attained Age The current age of the insured as measured from the age at the time the policy was issued.

The premium for the term insurance coverage is reduced based on the lower death benefit amount, while the premium for the new permanent coverage is based on the initial health rating and the current age of the insured.

If you renew (if the policy has that feature), it will renew at a higher price reflecting the current age of the insured person.

Not exact matches

The coverage provided by the rider can be converted to a permanent policy as long as a plan of insurance is available at the additional insured's current age.

i) If you assume that kind of adjustment in age, back of envelope that could imply over a third of the current insureds are still alive at 100 years of age — do you really think that's likely?

Companies will competitively bid on the purchase of an existing policy based on the insured's current age, state of health and the overall economic environment.

(Term life insurance policies are only in force for a certain, set period of time such as 10, 15, 20, 25, or 30 years and then they will automatically expire, leaving the insured to have to re-qualify for coverage if they want to remain insured at their then - current age and health condition).

The cost varies, depending on the amount of coverage and the type of life insurance being purchased, as well as, the current age, gender, health and lifestyle of the insured.

First, the need for life insurance can vary a great deal depending upon the current age and financial responsibilities of the insured.

The biggest thing is making sure you can qualify for life insurance with SBLI, so lets cover (in general) what SBLI will and won't insure: SBLI Underwriting Uninsurable medical scenarios with SBLI: • Aids / HIV + status • ALS (Amyotrophic Lateral Sclerosis) • Alzheimer's disease or dementia or significant cognitive impairments related to functionality • Cancer diagnosis within last 2 years • Chronic pain treatment, severe, receiving disability, narcotic use • Cirrhosis of the Liver • Congestive heart Failure • COPD / Emphysema or chronic bronchitis - Severe or with current nicotine use • Cystic Fibrosis • Defibrillator use • Depression, severe, recurrent or with multiple in - patient hospitalization history • Diabetes with co-morbidities that include significant cardiac disease, or impairment of renal function or mobility • Heart / Cardiac Disease - multiple vessels diagnosed within 2 years or any past history with current nicotine use • Muscular Dystrophy • Multiple Sclerosis, if symptoms progressing • Organ Transplants, in most scenarios • Quadriplegia • Pulmonary hypertension • Renal failure, Renal insufficiency - severe • Stroke within 1 year • Suicide attempt within 5 years • Surgical repair of heart valves, aneurysms, intracranial tumors, major organs within six months, including gastric bypass Uninsurable non-medical scenarios: • Marijuana use, 4 or more times weekly • Substance abuse / misuse within last 5 years • Criminal activity - any history within the last 10 years • DUI, more than 2 or under age 25 if within 1 year • Unemployed (other than homemakers or retired) with minimal household income or dependent on SSI / disability benefits • Bankruptcy filing within 2 years • Liens / Judgements - outstanding activity that exceeds $ 50K

When the initial «term» of a term life insurance plan ends and the policy holder opts to renew his or her coverage, the new policy will be underwritten at the then - current age and health condition of the insured.

Generally applicable to current assumption policies such as equity indexed, variable and universal life, cost of insurance charges are monthly charges for mortality and other elements of insurer expense that are assessed against the policy based on the insured's current age, the original rate class, and the current net amount at risk.

The yearly maximum deductible amount for each individual depends on the insured's attained age at the close of the taxable year (see Table 1 for current limits).

Provided that the insured survives throughout the time period of the policy, and he or she wishes to remain covered by life insurance, they will need to re-qualify for a new policy at their then - current age and health status.

Even if you wish, renewing insurance policy with a greater sum insured than your current one, after a claim is difficult, when you reach the age of 45 or more.

The premium for a renewable term policy is usually based on the insured's current age at time of renewal.

Term plan is very very important and one should get himself insured enough by doing proper analysis (of current and future income, assets, future liabilities, family, children etc) at earlier age (~ 25 years).