Sentences with phrase «end of the term period»

If issued before age 66, the policy is convertible until the earlier of the end of the term period or up to age 70.

In addition to allaying the concerns regarding the disadvantages of term insurance, an ROP policy can also provide the advantage of supplementing retirement benefits to the policy owner / insured at the end of the term period.

But at the end of the term period, the price shoots up so high (think 10 — 20 times higher, or more) that most people let it expire.

When your policy reaches the end of the term period, we'll be here to help.

At the end of the term period, you may be able to convert the policy to a Universal life.

At the end of this term period, however, term life insurance expires and the individual may have the opportunity to convert the term life insurance policy into a more permanent life insurance policy known as universal or whole life.

What that means for you is at the end of your term period or age 75, whichever comes first, you will have the options to convert the temporary coverage to a permanent life insurance policy without proof of insurability.

However, at the end of the term period the costs increase dramatically.

Most term life insurance policies are convertible to permanent life insurance at some point during the term, or depending on your age and policy, they can even be convertible until the end of the term period.

Return of Premium Term Life insurance (ROP) is a feature that offers a guaranteed 100 % return of your premiums at the end of the term period, assuming the insured person is still living.

Sometimes, your term life insurance policy may simply expire at the end of the term period.

For instance, return of premium term life insurance is more expensive than traditional coverage, but will refund and return some or all of the premiums paid at the end of the term period if no death benefit is paid out.

The policy is convertible to a permanent policy prior to two years before the end of the term period, or when the insured reaches the age of 65

If the child is eligible, at the end of the term period, the benefit may be able to be converted over into a qualified permanent life insurance policy, with a benefit that is up to 5 times the original amount of the term coverage — regardless of the child / insured's health.

But at the end of the term period, the price shoots up so high (think 10 — 20 times higher, or more) that most people let it expire.

If eligible, at the end of the term period the benefit may be converted to a qualified permanent life insurance policy for up to five times the original amount, regardless of the child's current health.

In addition to providing a return of premium option at the end of the term period, most ROP term policies build a cash value beginning at the end of the 5th policy year.

Return of Premium (ROP)-- is a type of term life insurance policy that allows for the refund of every premium paid at the end of the term period.

If issued before age 66, the policy is convertible until the earlier of the end of the term period or up to age 70.

If issued before age 65, the policy is convertible until the earlier of the end of the term period or on the age 70 policy anniversary.

A partial endowment typically is paid at the end of the term period.

Only at the end of the term period you have chosen - 10, 20, 30 years - will your life insurance rate potentially increase.

Annual renewable term and 5 - year Term are no longer popular anymore either so that will break it down to the commonly used list of Term products which will be: • 10 - year Term • 15 - year Term • 20 - year Term • 25 - year Term • 30 - year Term If a policy is renewable, this means the life insurance will continue to stay in force until the specified age listed on the policy which would be the anniversary of the end of the term period.

ROP offers lower premiums and a guaranteed refund of the life insurance premiums paid during the term of the policy, provided the insured doesn't die prior to the end of the term period.

When your policy reaches the end of the term period, we'll be here to help.

The best option would be to convert the policy into a Universal Life plan design before the end of the term period so you would be looking at a lower age and a more affordable premium.

If a policy is renewable, this means the life insurance will continue to stay in force until the specified age listed on the policy which would be the anniversary of the end of the term period.

At the end of the term period, you may be able to convert the policy to a universal life insurance policy without having to take any physical examinations or answer any application type questions.

Many consumers also opt for return of premium life insurance where they get all their money back (tax free) at the end of the term period.

Return of premium term life (ROP)-- offers a guaranteed refund of the life insurance premiums at the end of the term period, assuming the insured is still living.

Some policies allow you to convert to permanent coverage only in the first five years while others will let you convert up until the end of the term period or until you have reached a certain age.

At the end of the term period the renewal rate jumps significantly.

Available for ages 20 through 60 Term lengths: 10, 15, 20, and 30 years Coverage Amounts: $ 25,000 up to $ 350,000 Tobacco users can qualify Available in all states except New York Completely online application process Average approval times of 3 minutes Policy delivered electronically via email (all states except CA) The product is renewable at the end of the term period

Return of premium does exactly what the name says, you get all of your premiums back at the end of the term period.

At the end of your term period, the premium may increase quite a bit.

Your coverage WILL expire at the end of the term period if you do not exercise the two other options given to you with a good level term product.

Whole life and universal life insurance policies last your entire life and you don't need to worry about renewing them at the end of term periods like you do with term insurance, as long as you pay the premiums.

This is a very clever move which will force the policy owner to keep the policy until the end of the term period in order to get back his or her money.

Option to have increasing sum assured at the rate of 5 % every year at simple rate till the end of the term period without increasing in premium amount

If the insured is alive at the end of your term period, then the beneficiary does not receive the payout of the death benefit.

Money back policies are insurance plans where the survival benefits are payable only at the end of the term period, plus the added benefit of money back policies is that they provide for periodic payments of partial survival benefits during the term of the policy so long as the policy holder is alive.

The return of premium life insurance policy is a term life policy that guarantees that at the end of the term period you will get back all of the money that you have paid in premiums.

Money back policies are quite similar to endowment insurance plans where the survival benefits are payable only at the end of the term period, plus the added benefit of money back policies is that they provide for periodic payments of partial survival benefits during the term of the policy so long as the policy holder is alive.

While other types of term life may vary significantly from the standard policy, all term life insurance policies are temporary and expire at the end of the term period (with the exception of convertible term coverage), with no cash value or investment returns.

At the end of the term period, which can be 3 months, 1 year, 10 years, 20 years, 30 years or anything in between, the policy expires.

Return of premium life insurance, also known as ROP life, is a type of term policy that refunds all your premiums at the end of the term period if you are still alive.

Some term policies offer return of premium (ROP) riders, which return all of the premium you've paid if you are alive at the end of the term period.