Sentences with phrase «death benefit of a term life insurance»

Although the death benefit of a term life insurance policy can be used any way the beneficiary chooses, the funds are commonly used for:

The death benefit of a term life insurance policy gives the surviving spouse money to pay for a nice funeral, continue to pay the mortgage, afford to take time off work to be with family, and make sure the hopes and dreams you had planned out for your children are still attainable.

Your beneficiaries may not need expenses covered from the death benefit of a term life insurance policy, but maybe you want to leave an inheritance for your kids and grandchildren.

Not exact matches

The death benefit of a whole life insurance policy stays the same for the life of the policy, unless you purchase additional coverage, and often ranges from $ 50,000 to several million dollars (similar to level term).

Due to the lifetime coverage and cash value, whole life insurance costs considerably more, meaning it can easily come to 10 times the cost of a term policy with the same death benefit.

Term life insurance policies are quite cheap and can come with a variety of riders offering such assistance as disability income, waiver of premiums, and an accelerated death benefit in the case you become permanently disabled.

Unlike decreasing term life insurance, the death benefit of ART policies does remain the same.

With term and permanent life insurance, you make premium payments so that in the event of your passing, your loved ones and beneficiaries will receive the death benefit proceeds from the policy.

One of the key differences to understand is that while you can purchase much more term life insurance than permanent insurance for your money, if you don't die during the term, your favorite charity won't receive any death benefit.

In both examples, term life insurance would provide an ample death benefit to the beneficiaries at a much lower cost than permanent life insurance, which may not be within the financial reach of these buyers.

A term life insurance policy offers coverage for a specified period of time, meaning that if you die during the term of the policy the beneficiary will receive the specified payout (also known as the death benefit or face value of the policy).

Term life insurance is designed to provide death benefits to the named beneficiaries of the policyholder.

The policy document has all of the pertinent information about the life insurance policy: the term, the death benefit amount, policyholder details, and so on.

Term life insurance is a life insurance policy that provides a death benefit to the policyholder's beneficiaries if that person dies within the specified «term» of the polTerm life insurance is a life insurance policy that provides a death benefit to the policyholder's beneficiaries if that person dies within the specified «term» of the polterm» of the policy.

As an added benefit, the life insurance death benefit of the new hybrid policy would pay off her mortgage if she passed away, assuming she didn't use the policy for long - term care.

A return of premium life insurance policy is one where, minus very negligible fees, your premium payments are refunded to you at the end of the term (assuming the death benefit hasn't been paid out, of course).

The death benefit for both term and permanent life insurance is paid to your beneficiaries free of income tax.

Gerber's term life insurance also provides between $ 25,000 to $ 150,000 of coverage, and doesn't require a medical exam if you're under 50 or want a death benefit of up to $ 100,000.

Term life insurance is a type of life insurance that only pays out a death benefit if the policyholder dies within the term of the polTerm life insurance is a type of life insurance that only pays out a death benefit if the policyholder dies within the term of the polterm of the policy.

Term life insurance covers you for a fixed number of years, such as 1, 5, 10, 20, or 30 and pays a death benefit if you pass away during the covered time period.

One of the biggest benefits of term life insurance is that it helps your family replace your lost income upon your death.

Filed Under: Banking Advice Tagged With: angry retail banker, Bureau of Labor and Statistics, captive agent, cash value, death benefit, insurance agent, insurance broker, life insurance, policy, PolicyGenius, premium, quote, retail banker, retail banking, term life insurance, universal life insurance, variable life insurance, variable universal life insurance, whole life insurance

Term life insurance pays a death benefit to the policy beneficiary if the policyholder dies within the term of the polTerm life insurance pays a death benefit to the policy beneficiary if the policyholder dies within the term of the polterm of the policy.

Term life insurance policies are temporary and only pay out a death benefit to the beneficiary if the policyholder dies within the term of the polTerm life insurance policies are temporary and only pay out a death benefit to the beneficiary if the policyholder dies within the term of the polterm of the policy.

With most term life insurance policies, the death benefit — the portion of money that's paid out to beneficiaries — works the same way.

The main difference between term life and permanent insurance is that term insurance only pays death benefits to your beneficiaries, while permanent life insurance pays out death benefits and accumulates cash value which will continue to build up over the life of the policy.

The death benefit of a whole life insurance policy stays the same for the life of the policy, unless you purchase additional coverage, and often ranges from $ 50,000 to several million dollars (similar to level term).

The benefit of combining the two insurances into one policy is you get life insurance death benefit coverage, help with your long - term care services, cash value growth that can be accessed via policy loans, with full cash surrender value plus return of premium if necessary.

Term life insurance offers a specified amount of death benefit for a specified tTerm life insurance offers a specified amount of death benefit for a specified termterm.

Finally, a couple more benefits of a MEC are that the death benefit on life insurance is tax free and the death benefit can be accelerated due to chronic illness, as a possible alternative or addition to long term care insurance.

Another thing to consider is that a mortgage life insurance policy is often written as a decreasing term policy, so the death benefit decreases over time, (just as your mortgage payoff amount decreases as you pay your monthly mortgage payments), but the premium remains the same over the life of the policy.

Term life insurance provides a death benefit to your beneficiaries if you should die during the number of years, or «term» you choTerm life insurance provides a death benefit to your beneficiaries if you should die during the number of years, or «term» you choterm» you choose.

Term life insurance is the cheapest form of coverage, you can choose a death benefit that covers multiple loans or expenses, and you can choose your beneficiary.

In contrast to term insurance, a whole life insurance policy pays the death benefit stipulated in the contract upon the death of the insured, regardless of when it may occur.

Optional Riders: Additional benefits such as Children's Term Insurance, Grandchild Term Insurance, Accidental Death and Dismemberment, Waiver of Premium, and Accelerated Living Benefit may be added to some policies as riders.

For purposes of this post, it just needs to be understood that we can bridge the deficiency of not having enough coverage in our banking policy with a term rider, which can be used to add convertible term life insurance (which results in an increase to the death benefit).

Colonial Penn's term and whole life insurance products don't require a medical exam and have a maximum death benefit of $ 50,000, meaning you'll typically pay higher premiums and won't be able to purchase a greater amount of coverage should your financial needs change.

The next major advantage of term life insurance is the death benefit goes to the beneficiary income tax free.

However, the benefit of going with term life insurance is that you can choose a much higher death benefit than is typically available for products with limited underwriting.

A term life insurance policy offers coverage for a specified period of time, meaning that if you die during the term of the policy the beneficiary will receive the specified payout (also known as the death benefit or face value of the policy).

For example, if you have a pre-existing condition and want a $ 350,000 death benefit to cover your mortgage, you will only be able to get this amount of coverage through a term life insurance policy.

Alternatively, consider setting up a cash value life insurance policy with a term rider to get the needed death benefit coverage but with the benefits of cash value life insurance.

Term life insurance is defined as a contract between the owner of the policy and the insurer, for a policy on the life of the insured, whereupon the insured's death, the insurer pays a lump sum death benefit to the beneficiary.

Term life insurance is the cheapest and simplest option and only provides the business with simple death benefit protection against the loss of a key person.

As mentioned in the above list of best online term insurance plans, some life insurance companies provide optional riders (like Accident death benefit & Critical Illness) and optional features (like waiver of premium or monthly income options etc.,)

Mutual of Omaha offers convertible term life insurance which allows you to have a large guaranteed death benefit for a lower initial cost than permanent coverage.

The product is a single premium universal life insurance policy that provides death benefit protection, long - term care coverage and return of premium.

Variable life insurance premiums are much more expensive for the same death benefit coverage than term life insurance, which covers you for a set period of time — usually while you have dependents.

If your term policy allows you to convert you can choose to option your rider and convert all or a portion of your death benefit to permanent life insurance.

Unlike decreasing term life insurance, the death benefit of ART policies does remain the same.