Sentences with phrase «death benefit coverage later»

Also, you may not need as much death benefit coverage later in life, so you are OK with a decreased death benefit.

Also, you may not need as much death benefit coverage later in life, so you are OK with a decreased death benefit.

Not exact matches

So, whether you pass away immediately after purchasing coverage or 50 years later, your beneficiaries would receive a death benefit.

So, whether you pass away immediately after purchasing coverage or 50 years later, your beneficiaries would receive a death benefit.

You receive more guaranteed coverage early on when your need is possibly greater and you maintain a proportional death benefit guarantee in later years when your focus likely changes to other priorities, including leaving a legacy.

In addition, riders can be added to each policy that allow you to adjust the death benefit, either so that it increases over time, it decreases over time, or you're able to purchase additional coverage later without medical questions.

In addition, with the flexible death benefit, if you start out thinking you need a lot of coverage, but later decide less is more, then you can adjust your policy death benefit down to something more in line with your budget, rather than having to cancel and try and get a new policy.

So, whether you pass away immediately after purchasing coverage or 50 years later, your beneficiaries would receive a death benefit.

However, later in life, death benefits from coverage may not be as important to you.

In addition, riders can be added to each policy that allow you to adjust the death benefit, either so that it increases over time, it decreases over time, or you're able to purchase additional coverage later without medical questions.

Of course an increasing coverage policy will cost more than a decreasing coverage policy which starts at the same death benefit level, but an increasing coverage policy may be less expensive than adding additional insurance coverage later in life.

But, unlike a term life policy, a GUL policy offers coverage up to much later in life and is highly likely to pay a death benefit.

For this reason, this type of coverage is not always the most cost - effective in later years, when the death benefit is much lower.