Sentences with phrase «feature in a permanent life insurance policy»

An emergency fund, in the context of insurance, would refer to the feature in permanent life insurance policies that allow the insured to withdraw cash for the purposes of paying unexpected expenses or fulfilling other monetary needs.

Not exact matches

Permanent life insurance policies provide a death benefit as well as other unique features such as lifelong protection and the ability to accumulate cash values on a tax - deferred basis, similar to assets in most retirement - savings plans.

Many term life insurance policies have a built - in feature that allows you to easily switch a term life policy to a permanent one, usually with no medical exam and no hassle.

Variable Universal Life Insurance (VUL) is a permanent type of Life Insurance combining the essential features of Variable Life Insurance and Universal Life Insurance, thus allowing the policyholder to allocate premiums to different investment options, to build up cash value and to determine when and how much you invest in your policy.

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Permanent life insurance plans, such as whole life and universal life, may have policy features like financed premiums or loans against the policy that will need to be factored in before paying the beneficiary.

A term life conversion is the feature in a term life insurance policy where you can convert to a permanent life insurance policy with no evidence of insurability.

However, in some cases, a term life insurance policy may offer a conversion feature whereby the insured may convert his or her policy over to a permanent form of life insurance.

Different permanent life insurance policies offer varying features but most have one thing in common: they build cash over the life of the policy out of the monthly premiums you pay.

At the same time, term life policies may feature a convertible provision so that you can convert it into a permanent policy to benefit from coverage for your whole life (find out more in Insurance as an Investment?

It is a feature available in most permanent life insurance policies with a savings component.

In addition, some term policies offer this feature; it isn't unique to permanent life insurance.

You may now have more earning power and may want the savings / investment feature found in a permanent life insurance policy.

The most significant feature of the term insurance policy is that they have a built - in feature that gets converted to permanent life insurance policies irrespective of the state of health of the term of the Insurance Policinsurance policy is that they have a built - in feature that gets converted to permanent life insurance policies irrespective of the state of health of the term of the Insurance Policy Hpolicy is that they have a built - in feature that gets converted to permanent life insurance policies irrespective of the state of health of the term of the Insurance Policinsurance policies irrespective of the state of health of the term of the Insurance PolicInsurance Policy HPolicy Holder.