Sentences with phrase «features of a term life policy»

This can be one of the most valuable features of a term life policy... a low cost, and guaranteed option to convert at the original health class, regardless of how your health changes over times.

Not exact matches

The benefit of term life insurance policies is that they can be structured to fit your financial situation, as you can customize several features of the policy:

Since life is unpredictable, term insurance often has an added feature: the ability to convert the term policy to permanent coverage within a certain conversion period — for example within the first 10 years of a 20 year policy.

The benefit of term life insurance policies is that they can be structured to fit your financial situation, as you can customize several features of the policy:

Life insurance classified as return of premium (ROP) features a return of premiums paid to purchase coverage if the insured outlives the term of the policy, or payment of some portion of premiums paid to the beneficiary upon the insured's death.

A great feature of convertible term life insurance is the ability to customize it for your particular situation and lifestyle with policy riders.

You already you know you want term life insurance, but there are other policy features you may be considering, like an accelerated death benefit or a return of premium policy.

These hybrid life insurance long - term care policies are a good alternative for those who don't like the «use it or lose it» feature of traditional LTCI.

While this can be done with term life insurance policies, this feature is, along with the premium flexibility, one of the main selling points of a universal policy.

Life insurance is subject to exclusions and limitations and terms for keeping it in force, Certain types of policies, features and benefits may not be available in all jurisdictions or may be different.

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

One common feature you find with both the Term and Universal Life insurance policies is that you can get the policies for different terms of time such as anywhere from 5, 15, or 25 years for example.

A term life insurance policy with the «return of premium» benefit will often be noticeably more expensive compared to term life insurance policies without the feature.

«Return of Premium» is a common feature in many term life insurance policies that provides a full or partial refund of the premium paid at the end of the coverage period if nothing was paid out on the policy during that time.

To cater to the varying needs of consumers, insurance companies offer term life insurance policies with different features.

Permanent life insurance is more expensive because of the cash value accumulation feature and can easily cost 10 times more than what you would pay for a term policy.

This valuable feature allows you to convert your term policy to a permanent policy (e.g., whole life insurance) without submitting evidence of insurability.

Adding a conversion feature to a typical term life insurance policy sometimes is a great way of striking some middle ground during your decision.

A policy that offers just the right amount of coverage for just the right time frame, term life insurance policies feature an affordable premium that keeps the policy in force for the number of years you've selected.

This term usually refers to specific policy riders and features, not thematic values of life insurance.

Additionally, most annual renewable term policies offer a conversion feature that allows you to exchange a term policy for a whole life or universal life policy without proof of health.

While some term policies feature increasing or decreasing premiums and benefits over time, these figures are fixed and won't be adjusted during the life of the term.

If you have a 15 or 30 year mortgage and are considering life insurance to cover the debt, you can lock in a 15 - year or 30 - year level term policy with a return of premium feature.

A return of the premium feature can be offered in conjunction with different types of Term Life Insurance policies.

Unlike permanent life insurance policies, term life ends after a specified number of years and does not feature any sort of savings or investment component.

All of these companies offer both types of online and offline term life insurance with each term policy having its own set of specific features that make it the best term insurance plan in the market.

Most term life insurance policies come with a conversion feature built in, but it's good to be aware of so you know what options you have when the policy term ends.

Term life, unlike whole life and other so - called permanent policies, features no cash component and usually expires after a set amount of years.

So, if a policyholder had purchased a Colony Term universal life 10 policy, and then they decided five years after purchasing it that they wanted to have coverage for the remainder of their lifetime, then the coverage extension feature would have allowed the insured to extend the death benefit protection guarantee to either age 90, age 100, or 105 — and, this could occur without the need for the insured to provide evidence of insurability.

Return of premium is commonly offered as a feature on other long - term life insurance policies.

The defining feature of this form of term life insurance is that the premiums paid over the life of the policy are paid back to policyholders at the end of their contracts if they are still alive.

It has the features of both a term and whole life insurance which allows policy holders to choose varying payment methods and coverage every year while adjusting its interest on a monthly basis.

A unique feature of the AIG term - life policy is the AG ROP Select - A-Term option where you can get money back when you reach the end of your policy term without a claim.

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.

Many consumers don't even know this feature exists, yet it's one of the main benefits of a term life insurance policy.

These types of policies are mostly available as term life insurance policies, although there are some available as a whole life policy which has a cash value accumulation feature.

This policy feature or option is most applicable to term life insurance coverage and is designed to last for set number of years commonly 10, 20 and 30 years.

There are a number of features that distinguish guaranteed issue life insurance policies from other forms of life insurance policies, such as term and permanent life.

A new feature offered by certain whole life insurance policies is a rider that lets you start drawing up to 2 percent or $ 330 per day of your death benefit — not your cash value — for long term care needs.

Life insurance prices vary significantly depending on your age, health and policy features, but here's one example that shows how much extra cash you could have to work with if you buy term instead of permanent life insuraLife insurance prices vary significantly depending on your age, health and policy features, but here's one example that shows how much extra cash you could have to work with if you buy term instead of permanent life insuralife insurance.

Another built - in feature of most term life policies is the right to convert your coverage to any permanent cash value policy that the company offers at current rates without having to take another medical exam.

Unlike permanent life insurance coverage such as whole life, term insurance does not provide any type of cash value build - up or investment feature within the policy.

Bajaj Allianz Life targeted the low - income market with the launch of a micro insurance product that allows customers to choose between fixed and flexible loan tenure coverage, an exclusive feature of the plan is that the policy term ranges from as less as 6 months to 120 months, with option of single life and joint life coveLife targeted the low - income market with the launch of a micro insurance product that allows customers to choose between fixed and flexible loan tenure coverage, an exclusive feature of the plan is that the policy term ranges from as less as 6 months to 120 months, with option of single life and joint life covelife and joint life covelife coverage

Return premium life insurance is a new type of term life insurance plan that provides both a death benefit and a return of premium feature within the same life insurance policy.

Or if your current term coverage includes a conversion feature, you could turn a portion of it into a permanent life policy.

The Principal offers this feature on many of its term life insurance policies — and the insured will not need to provide additional evidence of insurability.

Conversion Feature — You also have the option of converting your term policy to a Permanent Life policy at age of 70 or the end of the level term policy.

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.

Certain types of term life insurance policies have renewability or convertibility features that allow you to either renew your policy for a specified term without having to undergo another medical exam or convert your term policy to a permanent or cash - value policy.

Many term life policies also provide a feature you can add called Return of Premium that reimburses you all the premiums you paid into the policy should you live until it expires.