The phrase
"guarantee period" refers to a specific duration of time during which a product or service is covered by a guarantee or warranty. It means that if there is any problem or damage within that period, the manufacturer or company will fix or replace the item for free.
Full definition
Lifetime income with Term Guarantee in which the income is received for a chosen
guaranteed period of five years / ten years / fifteen years or twenty years.
Once the initial
rate guarantee period expires, you have the option to renew for the same period of time.
The guaranteed policy has a thirty -
day guarantee period in case you do not like it and the benefits stated do not decrease after the first two years.
All else being equal, policies with higher current rates and
longer guarantee periods will be better than those with lower current rates and shorter guarantees.
In exchange for your purchase payment and after the
selected Guarantee Period you'll then receive your money back, plus the guaranteed interest rate that was available at purchase or renewal.
If you die within the
specified guaranteed period, your beneficiary will receive the remaining income payments as an income stream or lump sum.
This policy has a fixed death benefit with a fixed price for the first five years and an increased fixed price for the rest of the initial
benefit guarantee period.
At the end of the no -
lapse guarantee period provided by either the policy or the rider, you may need to make significant additional premium payments.
Introduce us to a candidate for a full - time, direct hire position and you will receive a referral bonus upon the successful completion of the
client guarantee period.
Some lifetime guaranteed policies can be designed to provide a «shorter»
guaranteed period of your choice at a lower premium.
You may choose from a range of interest
rate guarantee periods, including three, four, five, six, or seven years.
A single - premium multi-year guaranteed annuity offering a choice of 5 year or 7
year guarantee periods and free withdrawal options.
You will only be charged the special limited price of $ 67 $ 37 and can get a full refund any time within the 12
month guarantee period.
You have the option to keep the policy after the initial
benefit guarantee period — the initial length of the policy you select — or to allow the policy to lapse.
Because the insurance company is «on the hook» for a longer period of time, premium payments for guaranteed level periods of 20 and 30 years are higher than similar policies
with guarantee periods of 5 or 10 years.
When the payout made to the customer is a fixed sum for a certain number of years, it is called a fixed annuity or annuity certain.In
guaranteed period annuity, the period for which the payment will be made is decided.
There is a one - year interest rate
guarantee period on each deposit, which secures the crediting rate for that duration.
While most of the policies are renewable to age 95, the annual premiums may increase significantly after the initial
guaranteed period expires, and in addition, most of the policies are convertible to permanent life insurance policies.
Posted in customer service, guarantee, insurance, life insurance Tagged bad news
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For those who need a temporary source of guaranteed income, the New York Life
Guaranteed Period Income Annuity II can provide a stream of income that's guaranteed to last, without fluctuation, for anywhere from five to 30 years.
No Lapse Guarantee Rider Guarantees the policy will not lapse within the specified
guaranteed period even if the policy's value is not sufficient to cover their monthly deduction charges.
The New York
Life Guaranteed Period Income Annuity II is issued by New York Life Insurance and Annuity Corporation (NYLIAC), a Delaware corporation, a wholly owned subsidiary of New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010.
After purchasing a travel insurance plan, you are granted a 14 - day money - back
guarantee period which allows you to understand the ins and outs of your travel insurance coverages, including claim filing procedures, exclusions, coverage duration and extent.
New York Life offers several fixed deferred annuities to match your needs with interest rate
guarantee periods ranging anywhere from three to seven years.
Can extend the No -
Lapse Guarantee period with the Lapse Protection Enhancement feature and it will make your premium payments to be lowered.
Certain insurers have set up a process of paying interest if claims are not addressed within the minimum guarantee period
In exchange for the guarantee, contracts with longer
guarantee periods tend to build significantly less cash value than does the same contract using the target or other non-guaranteed premium.
This plan offers death benefit guarantees to age 121, as well as
flexible guaranteed period to meet the policy holder's changing insurance needs over time.
If I am still alive at the end of my policy's term (Initial
Premium Guarantee Period), do I or my beneficiary receive any money?
If you no longer want the policy beyond the low
cost guarantee period, and you are making automated payments, you'll want to notify the insurance company you wish to cancel the policy at the end of the term.