Sentences with phrase «during the term period»

If the insured dies during the term period, the death benefit will be paid to the beneficiary according to the terms of the contract.

It will pay the death benefit (face amount) if you pass away during the term period.

The coverage can be «level» providing the same benefit until the policy expires or you can have «decreasing» coverage during the term period with the premiums remaining the same.

Most term policies can be renewed (at higher premium) at the end of the term or may be able to be converted to a permanent policy during the term period.

In a level - premium term life policy, your premiums will never change during the term period.

Payments are fixed and do not rise during your term period.

This means during the term period, your rates will be locked in.

The premium is designed to stay level during that term period.

Most plans allow you to convert during the term period up to a maximum age of 70 or 75 yrs of age depending on the company.

The flexibility of the policy allows the regular monthly income to be provided to the family members in case of the death of the policyholder during the term period.

This means that the death benefit never decreases during the term period.

These policies pay a benefit only during the term period that the insurance covers.

A particular amount of the premium has to be paid during this term period, which can vary with the age and health of the policyholder.

Premiums typically stay level throughout the term, which means the price of your life insurance policy does not increase during the term period.

If a person is interested in borrowing a sum of money in the form of a car title loan, where a car is used as collateral, we want to make sure they remain fully insured because they will be retaining possession and use of that automobile during the term period of the car title loan.

It is important to keep in mind that if the policy owner dies at any time during the term period, simply buying just the traditional term coverage and investing the difference will always provide the greatest return on capital, because in this case the policy owner's estate would not only receive the death benefit but can distribute the invested cash as well.

So if you were to get a serious illness during the term period, even though you were healthy at inception, you would still be able to convert with your previous health rating status.

Also, term life policies are usually convertible to permanent products during their term period without evidence of insurability should you wish for longer coverage.

Because these are all simplified issue policies, there is no routine medical exam required as a part of the underwriting process, and the coverage can not be canceled during the term period, as long as the premium is paid.

Lump sum benefit and monthly income for 10 years is payable to nominee if the insured dies during the term period

Term life insurance typically has significantly lower premiums than permanent policies because, while a permanent policy's death benefit is guaranteed for life (no matter how long it is), a term policy will only pay the death benefit if the insured person passes away during the term period.

If you purchase and your health deteriorates, you now have guaranteed coverage during the term period that will stay inforce as long as you keep paying your premiums and your family is protected.

As opposed to AARP most insurance companies guarantee that premiums never increase during the term period.

Most term policies have conversion privileges, which allows you to convert your term policy to a permanent policy during the term period (in some cases, the conversion option period is shorter than the term period).

If your needs change during your term period, even with an increase in premiums you'll be able to extend the term without reapplying.

Term premiums are inexpensively priced, because the insured is not expected to die during the term period.

During the term period, you will have access to cash value that you can borrow from and you can convert to a permanent policy under the same conditions as TermSmart.

During the term period, you will have access to cash value that you can borrow from and you are able to convert to a permanent policy under the same terms as TermSmart described above.

Most term life insurance policies have a monthly premium that will not change throughout the term of the policy and a fixed lump sum payout if you die during the term period.

Coverage lasts for a predetermined length of time and the policy pays a benefit to your beneficiaries if you die during that term period (usually 10, 15, 20, 25 or 30 years).

If you die during the term period, your family is paid the death benefit.

They both offer different term periods (e.g. 10 years, 20 years) and both pay a death benefit to your beneficiary if you die during the term period.

Only pays the death benefit if you die during the term period.

Lump sum benefit and monthly income at the increasing annual rate of 10 % is payable to the nominee if the insured dies during the term period.

Only pays a death benefit if you die during the term period.

If you die during the term period, the company will pay the face amount of the policy to your beneficiary.

If you die during the term period, term life allows your beneficiaries to determine how much of the house to pay off and how much to allocate to investments, living costs, final expenses, credit card debt, or medical bills.

Universal life (or whole life) covers an event that's certain to happen; one's death, while term covers you for the possibility of you dying during the term period.