Sentences with phrase «expires over the policy»

A fixed sum of money - the sum assured — is paid to the beneficiaries if the policyholder expires over the policy term.

Not exact matches

The Fiscal Policy Institute and Responsible Wealth released a letter signed by over 80 wealthy New Yorkers urging Governor Cuomo to extend and expand the millionaires» tax, currently in place but set to expire at the end of this year.

Current rates are due to expire next year, setting up a potential battle over tax policy in Albany.

The store credit never expires and you can use it with any book Please see the Refund Policy if you would like more details on what cases are eligible for a refund, and how the refund works Promotions for books over $ 1 do not have a guarantee.

While a whole life insurance policy is an investment that increases in value over time, you know exactly what you will get from your level term life insurance policy from the day you sign the agreement until the day the policy expires.

Permanent life insurance never expires, and it includes a «cash value» component that grows (or in some cases shrinks) over the life of the policy.

Over time, the premiums for a whole life policy will usually be lower than they would be for a term life policy because a term policy's premium will increase when the term has expired.

Once the period of time has expired, however, the insured will need to either re-apply or convert over to a permanent life insurance policy (if applicable) if he or she wishes to remain covered.

While this means there will be no death benefit left over after the policy expires, it also means the mortgage life insurance premiums will be very low despite the policy having a very high death benefit in the early years.

Permanent life insurance never expires, and it includes a «cash value» component that grows (or in some cases shrinks) over the life of the policy.

And while you'll typically have the opportunity to purchase another short - term plan when the first expires, it's important to understand that you're starting over with a new policy, rather than continuing the one you had before.

You pay for the policy over the course of the term, but after the term is up, your policy expires and you no longer pay premiums.

On the flip side, your policy is basically done and over with the day it expires.

Since your term policy is likely expiring when you're more mature in years, and life insurance gets more expensive the older you are — 8 % to 10 % year over year, on average — the main draw here is that you don't have to go through the underwriting process again or prove your insurability so there's no risk of getting turned down.

When the policy expires, you may no longer need life insurance, since you will have paid for the mortgage and college and built up other investments for retirement or other needs over time.

Mortgage life insurance benefits usually decrease over time but with level premiums; whereas, term life insurance has death benefits that remain level until your policy expires, with level premiums.

When the term is over, the coverage expires and a new policy must be purchased if further life insurance needs exist.

If you're a senior and you own a convertible term policy that will soon expire, you may think your choices are limited simply because there was no «cash value» built up in the policy over the years.

However, once that period has elapsed, then the term life insurance will expire — and, if an insured would like to continue having life insurance, then he or she must then either obtain another policy, pay higher premiums on the current term policy, or convert the term policy over to a permanent form of coverage.

Level Term Insurance does not have a cash value feature, therefore, if the term of the insurance is over and the sum has not become payable, your policy expires.

You don't need to start your coverage right away, you could set up your new coverage to take over when your current policy expires.

While a whole life insurance policy is an investment that increases in value over time, you know exactly what you will get from your level term life insurance policy from the day you sign the agreement until the day the policy expires.

If you're over the age of 50 and your term policy has expired, you could purchase another policy with term life insurance coverage if you are still relatively healthy, but with longevity increasing all the time in the U.S., your coverage might run out before your needs dissipate.

Once the coverage has expired, the insured will need to either re-apply for a policy at his or her age and health (where the premium will typically be a great deal higher at that time), or convert the term insurance policy over to a permanent type of coverage (if applicable).

If the insured dies just one week after the policy expired, there would be no death benefit for the beneficiary and thus a loss of over $ 8,000 on the transaction.

Although term is your cheapest option, whole life insurance rates do not change over time because policies do not expire.

The whole life policy never expires and in most cases, the premium doesn't increase over the life of the policy.

When the contracted time is over, the policy expires unless renewed.

Whole life may cost 2 - 3 times more than term insurance, because it does not expire and it may build up some cash value inside your policy over time.

The primary benefits of whole life insurance over term life coverage are that the policy does not expire and it carries a cash value separate from the face value.

Once the term is over, the policy expires and is no longer in force.

Once the term has expired, the insurer will need to either re-apply for a policy or convert the term insurance policy over to permanent life insurance policy if applicable.

Over the past few years there have been numerous changes to the policies regarding bad - credit issues and how they are treated for FHA and conventional loans, with new standards implemented — and then expiring.