Sentences with phrase «end of the term life policy»

Note that this right to convert may not extend to the end of the Term Life policy.

This right to convert may not extend to the end of the Term Life policy.

If you survive to the end of your term life policy term, there is no pay out on the policy.

Not exact matches

Short term life insurance policies, such as those with 1 - year or 5 - year terms, often have the option of being renewable, meaning that at the end of the term you can purchase the same coverage again without a new application process.

Yet by the end of the week the Guardian had reverted to type with an article comparing my policy as promoting fake controversy in the same terms as Harriet Harman's ill - judged «ginger rodent» comments and Stephen Fry's unlikely expertise on the sex life of women.

Therefore, if you are on the younger end of the age spectrum, you might want to consider purchasing something that will be in place for longer, such as a 30 year term policy or permanent life insurance policy.

Once you choose your, you will pay a premium to the life insurance company to keep the policy in force until the end of the defined term, or the end of your life, whichever comes first.

While these products are all structured differently, the term and whole life insurance policies would fall within the category of final expense insurance, as they have limited payouts that are better suited to covering end - of - life costs than income replacement.

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).

and Sum Assured on Maturity as Maturity benefit at the end of the Policy term in case the Life Insured survives till that period and all premiums have been duly paid.

Term life insurance that gives you the right to continue the coverage for another year at the end of each policy year.

Consider all of the costs you want your term life insurance policy to cover, not just your end of life costs.

If you simply want to cover your end - of - life expenses and funeral costs so that your family is not burdened by these expenditures, you might want to buy a small term life policy, such as $ 10,000 to $ 20,000 worth of coverage.

Convertible term life insurance is typically a normal level term policy that has the option to convert the policy into permanent insurance by the end of the term or by a specified age, such as 70.

The return of premium rider, available for return of premium life insurance policies, and also on certain long - term care policies, disability insurance, etc., will return all of your premiums paid over the life of your policy should the term come to an end or should you wish to surrender the policy.

Return of premium life insurance gives you all the benefits of a traditional term life insurance policy, plus the additional benefit of having all of your cumulative premiums paid back to you at the end of the policy

Short term life insurance policies, such as those with 1 - year or 5 - year terms, often have the option of being renewable, meaning that at the end of the term you can purchase the same coverage again without a new application process.

When the insured is age 70 — or at the end of the guaranteed period of level - premium — whichever occurs first, the insured is allowed to convert the level term life insurance policy over into a whole life insurance or a universal life insurance plan.

Prior to the ending of the level term period, however, or to the attainment of age 70 — whichever is earlier — the insured is allowed to convert the policy over to a permanent life insurance policy that Lincoln makes available.

If you do choose a less expensive term life insurance policy and live past the initial term of the policy, you could find yourself without insurance as well as end up spending a lot more money in order to extend coverage, if that is even an option.

Survival Payout *: On Survival of the Life Assured till the end of the premium payment term, Survival Payouts are paid as a percentage of ONE Annual Premium which increases every year at 10 % of annual premium from the end of the premium payment term till one year before the end of the policy term.

The policy is convertible which allows the owner to convert the policy to whole life prior to the end of the term.

ROP term takes a basic term life insurance policy and adds a rider, for an additional premium, guaranteeing a 100 % tax - free return of all money spent at the end of the term.

Term life offered through United of Omaha is convertible which allows the owner to convert the policy to permanent life prior to the end of the tTerm life offered through United of Omaha is convertible which allows the owner to convert the policy to permanent life prior to the end of the termterm.

Which is why another huge disadvantage of term life insurance is that, if the premium is not paid by the end of the 31 - day grace period, the policy lapses.

The policy is convertible term life insurance, which allows you to convert to one of Prudential's permanent policies by the end of the term or age 65, whichever is first.

Re-Entry: A policy provision that allows an insured to renew their term life insurance policy at the end of the term based on their attained age and health status.

My opinion is for paid up - reason being at least i could get all my premium paid & life cover for the paid up value at the end of policy term (correct me if I am wrong)

With this policy, the policy owner does have the option of converting the term life insurance policy over to a new permanent life insurance certificate — without having to prove evidence of his or her insurability — until the earlier of the certificate anniversary on which the insured is age 65, or 5 years prior to the end of the initial term period.

Final expense insurance: These policies are for seniors with health issues who can't qualify for traditional term life insurance, but need a policy to help cover end - of - life costs and outstanding debts, Premiums are generally high and coverage amounts are limited.

Many policies let you convert your term life insurance into a whole life insurance policy before the end of a term; if you opt to do so, you'd keep paying premiums like normal.

What happens at the end of a term life insurance policy?

When the period of coverage ends for a Transamerica term life insurance policy, you can automatically renew coverage, but the policy turns into a 1 year term.

Sure, the shopping process can get a little complicated, especially if your health situation is a little complicated, but at the end of the day, term life insurance is made up of three basic components: your coverage (also known as your death benefit), your term (how long the policy lasts), and your premium (how much you're paying for it).

While it is something you buy hoping to never collect on, one of few disadvantages of term life insurance is that you can only get a return on your investment if you die, unlike whole life which gives a return at the end of the policy regardless if the party is living or deceased.

This information is then used to compare end - of - year market values of the regular (alternative) investment (less annual term costs) vs. the annual cash values in the whole life insurance policy.

Minnesota Life's convertible term life insurance includes the option to convert all or a portion of the policy to permanent coverage prior to the end of the tLife's convertible term life insurance includes the option to convert all or a portion of the policy to permanent coverage prior to the end of the tlife insurance includes the option to convert all or a portion of the policy to permanent coverage prior to the end of the term.

Penn Mutual's convertible term life insurance allows the insured to convert all or a portion of the policy to permanent coverage prior to the end of the term or age 70.

The majority of term life insurance policies feature a clause that allows you to renew it at the end of the term.

Additionally, Protective offers a unique universal life policy that acts like a term life policy until the end of the term, then converts to a permanent policy for the same price.

For example, a term conversion rider will automatically turn the policy into a whole life policy at the end of the term.

Term life insurance that gives you the right to continue coverage for another year at the end of each policy year.

Lastly, a policy owner does not collect anything at the end of the term, provided that he / she is still living.

A type of term life insurance that pays all premiums back to the policy owner at the end of the term if the insured is still living, or percentage of the premiums if the policy is cancelled before the term ends.

Many of us are over here where we think the policy makers need to go on vacation till after their natural term of life ends.

After the «term» period ends, some term life insurance policies do have a period of time in which they are renewable.

Term life insurance policies may be renewed for a premium at the end of a given term if the policy holder's life should exceed the tTerm life insurance policies may be renewed for a premium at the end of a given term if the policy holder's life should exceed the tterm if the policy holder's life should exceed the termterm.

You buy a level term life insurance policy, usually for 15, 20 or 30 years, and pay a higher premium, generally 25 - 50 % more, for the opportunity to get100 % or your premiums refunded at the end of the level term period.

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.

The drawback with a term life insurance policy is that when you come to the end of the term, you have spent a lot of money over the life of the policy.