Sentences with phrase «first few years of the policy»

But yes if you die in first few year of the policy then its a huge benefit for your kids.

The cash value generally grows slowly in the first few years of the policy then experiences more significant growth later.

Level premiums are usually higher than renewable premiums in the first few years of the policy, but lower in later years.

Paying the max life insurance premium allowed in the first few years of a policy will really tilt the policy in your favor for the life of the product.

The first few years of the policy make up a «surrender period,» which has different surrender rules than the rest of the policy's lifespan.

If you were to die during the first few years of the policy, most life insurance companies will generally issue a refund of your premiums to your beneficiaries in lieu of the actual death benefit.

In the first few years of your policy, a very small percentage of your premium goes into the savings account while the rest is used to pay for upfront costs like administrative fees and the agent's commission.

Some insurance contracts only allow «conversion» in the first few years of the policy, while others allow it at any point during the term.

The first few years of the policy you don't see the policy's face amount go down much because you are paying so much interest up front on your home loan.

Some insurance contracts only allow «conversion» in the first few years of the policy, while others allow it at any point during the term.

Normally, for the first few years of your policy, your benefit amount will increase by a small percentage (e.g. 4 %) automatically each year.

The cash value generally grows slowly in the first few years of the policy then experiences more significant growth later.

Modified Premium Whole Life Insurance: It is like traditional versions, but you can alter the premium payments during the first few years of the policy.

Finally, commissions slow the accumulation of cash value in permanent life insurance policies, especially in the first few years of the policy.

Level premiums are usually higher than renewable premiums in the first few years of the policy, but lower in later years.

The policy is called «graded» because the death benefit is graded — it increases a bit for the first few years of the policy until it reaches the amount you buy — for example if you buy a $ 100,000 graded policy, the $ 100,000 won't be fully in effect until after 3 years (or two years depending on the company).

If you were to die during the first few years of the policy, most life insurance companies will generally issue a refund of your premiums to your beneficiaries in lieu of the actual death benefit.

In the first few years of your policy, a very small percentage of your premium goes into the savings account while the rest is used to pay for upfront costs like administrative fees and the agent's commission.

Essentially, if the insured were to die in the first few years of the policy, the policy's beneficiary would receive all the premiums that were paid, plus earned interest, but the beneficiary would not receive the policy's death benefit until the waiting period has ended.

The first few years of the policy make up a «surrender period,» which has different surrender rules than the rest of the policy's lifespan.

Depending on the terms of the policy's suicide clause, suicide may not be covered, but this clause is usually only in effect during the first few years of the policy.

People who have a serious health problem may receive a policy with a «graded death benefit,» which means the coverage amount increases over time and your beneficiaries won't receive the full face value if you die within the first few years of the policy.

This valuable feature is usually available in the first few years of the policy, and allows you to convert to permanent insurance without submitting evidence of insurability.

Some companies will even give you «conversion credits» within the first few years of your policy to incentivize you to convert your policy.

For example, if the plan has graded death benefits, then it may pay out only a certain percentage of the total if the insured passes away within the first few years of policy ownership.

These guaranteed policies offer death benefits that accumulate over time and are generally low or non-available in the first few years of the policy.

Should the insured live past the first few years of policy ownership and pass away after that, the beneficiary would be able to receive the full amount of the death benefit — even on a plan that contains the graded death benefit option.

That means the premium amount you start to pay in the first few years of the policy may hike up based on calculations in line with market scenarios.

Two, there is a pre-existing waiting period in the plan which would exclude coverage of pre-existing disease in the first few years of the policy.

Graded Premium Life is actually Graded Premium Whole Life Insurance coverage under which the initial premiums are less than normal for the first few years of the policy, then the premiums gradually increase each of the next several years, until they become level (or the same) for the duration of the life insurance policy.