Sentences with phrase «expiration of your term life policy»

Not exact matches

While term insurance is great for all of the «what ifs», there is the possibility that you will live past your policy's expiration date.

Because all term life policies either expire in say, 10, 15 or 20 years (or otherwise will gradually increase premiums), the greatest PRO when comparing term life is that the there is no expiration of the guarantee period on a guaranteed universal life policy, and the premiums can stay level.

Term life coverage means that the face value of your policy will be paid to your beneficiary if you die within the term period and not afterward — unless the term policy is renewed upon its expiration, which almost always means higher premiTerm life coverage means that the face value of your policy will be paid to your beneficiary if you die within the term period and not afterward — unless the term policy is renewed upon its expiration, which almost always means higher premiterm period and not afterward — unless the term policy is renewed upon its expiration, which almost always means higher premiterm policy is renewed upon its expiration, which almost always means higher premiums.

That expiration date is one of the reasons term is the most affordable type of life insurance: You're more likely to die the older you get, so if an insurance company doesn't have to cover you while you're in your 70s and 80s — when you're more likely to pass away — it can offer cheaper policies.

But term life has a fixed expiration date and if you outlive the policy purchasing another one could be costlier because of your age.

With SBLI you can convert a term policy to a universal life, or whole life policy up to age the expiration of your term, or age 70 — which ever comes first.

Upon expiration of the term, the policy may offer the option of converting to permanent life insurance.

This is especially the case with term life coverage, as these types of policies have an eventual expiration date upon which coverage will need to be re-qualified for.

Level term life insurance policies provide coverage with unchanged premiums and face value from the start of the policy until the expiration date.

Term life insurance policies come with an option to convert the policy to a permanent one at the time of expiration, or old age, whichever comes first.

Term life insurance policies come with an option to convert the policy into a permanent one at the time of expiration or old age.

Your coverage term starting date and expiration date are stated on the declaration page of your life insurance policy.

But term life has a fixed expiration date and if you outlive the policy purchasing another one could be costlier because of your age.

A guaranteed insurability rider, as the name implies, guarantees that you are able to renew your term life insurance policy at expiration without having to provide evidence of insurability, regardless of your current health.

While term insurance is great for all of the «what ifs», there is the possibility that you will live past your policy's expiration date.

Term life will always be your most cost - effective option as term policies have an expiration, usually of 10,15,20 or 30 years, which is why they are cheaTerm life will always be your most cost - effective option as term policies have an expiration, usually of 10,15,20 or 30 years, which is why they are cheaterm policies have an expiration, usually of 10,15,20 or 30 years, which is why they are cheaper.

Exploring all available options is important for those who are looking to maximize the value of their term life insurance policies, especially as the policy nears expiration.

Term life coverage means that the face value of your policy will be paid to your beneficiary if you die within the term period and not afterward — unless the term policy is renewed upon its expiration, which almost always means higher premiTerm life coverage means that the face value of your policy will be paid to your beneficiary if you die within the term period and not afterward — unless the term policy is renewed upon its expiration, which almost always means higher premiterm period and not afterward — unless the term policy is renewed upon its expiration, which almost always means higher premiterm policy is renewed upon its expiration, which almost always means higher premiums.

A 1 year term insurance policy is considered annual renewable term life insurance because it offers you the option of renewing your term life coverage for another year at expiration, without having to take a physical exam to qualify.

Most people know when the expiration of their term life insurance policy is coming.

You can convert some or all of your term policy anytime before the conversion expiration date in the term life insurance policy.