Sentences with phrase «guaranteed purchase option»

And, some policies contain guaranteed purchase options, which allow you to buy additional life insurance coverage at specified times, regardless of your health.

Also, some policies contain guaranteed purchase options, which allow you to buy additional coverage at specified times, regardless of your health.

Guaranteed Purchase Option Rider: allows the insured to purchase additional life insurance coverage with no evidence of insurability at specific ages or for specific events, such as marriage, buying a home and the birth of a child.

Such policies are attractive as legacies for parents and grandparents since premiums are generally low (and with some policies, will remain at that low level for life), the insured's future insurability can be protected through guaranteed purchase options, and the policy can accumulate cash value that can be used by the insured to help pay future expenses (such as college tuition or down payment on a first home) or left to accumulate.

Guaranteed Purchase Option Rider — This is a great option for parents or grandparents considering whole life insurance for children because it guarantees the addition of more coverage at certain ages and life events with no evidence of insurability.

Guaranteed Purchase Option: allows the purchase of additional life insurance without needing to prove insurability.

Such provisions, called guaranteed insurability riders or guaranteed purchase options, provide for the purchase of additional insurance at certain times in the future, regardless of any changes in health.

QUESTION: Do most states require Partnership policies have 5 % compound inflation protection, or do some allow 3 % or Guaranteed Purchase Options?

SBLI offers a full suite of whole life insurance policy riders, such as Accelerated Death Benefit, Child Term Rider, Guaranteed Purchase Option and Waiver of Premium.

With coverage of either $ 10,000 or $ 20,000, guaranteed purchase options will begin at 25 years of age and the permanent life insurance will be paid up at 65.

** Some policies may have a guaranteed purchase option that could allow your child to buy additional insurance in the future as an adult - regardless of his / her health.

A guaranteed purchase option allows you to purchase additional coverage at certain anniversary or events in your life — regardless of your health.

An example of a guaranteed purchase option is having the ability to purchase additional insurance when you get married, have a child, or reach a specific age or policy anniversary.

The guaranteed purchase option rider makes that convenient and affordable, even if the employee's health status changes during that time.

Guaranteed Purchase Option — if you are considering life insurance for children this rider is a must.

Guaranteed Purchase Option: allows the purchase of additional life insurance without needing to prove insurability.

If you're considering buying life insurance on your children, Dewald suggests looking into a «guaranteed purchase option» (GPO) rider.

It may also be known as a guaranteed purchase option, convertible term insurance, guaranteed renewable term insurance, or conversion privilege term insurance.

Guaranteed Purchase Option, Guaranteed Insurability Option, Convertible Term Insurance, Guaranteed Renewable Term Insurance, Conversion Privilege Term Insurance

And if it has a guaranteed purchase option, it will allow your young relative to buy additional life insurance coverage if needed in the future.

Some life insurance companies allow you to exercise your guaranteed purchase option at different ages, or at major life events such as the birth or adoption of a child, or upon getting married.