Sentences with phrase «initial term period»

A Penn State study completed in 1993 said that less than 2 % of all term life policies paid a death claim, and that less than 10 % of all term policies stayed in force during the entire initial term period.

You must exercise the conversion option either by the end of the initial term period or by age 70 (75 if rated preferred plus).

With this policy, the policy owner does have the option of converting the term life insurance policy over to a new permanent life insurance certificate — without having to prove evidence of his or her insurability — until the earlier of the certificate anniversary on which the insured is age 65, or 5 years prior to the end of the initial term period.

During the initial term period, you receive maximum coverage.

The premiums on the term life products that are offered via Banner Life Insurance Company are guaranteed to remain level through the initial term period.

These policies provide affordable life insurance protection, along with a guaranteed level premium amount during this initial term period.

As a result, it will be very expensive to keep the policy beyond the initial term period.

A life insurance company could possibly end a term policy after the initial term period has ended, but you typically have the option to pay higher adjusted premiums if you so choose.

However, term insurance premiums increase to the extremes after the initial term period.

If you are nearing the end of your initial term period and want to lock in a rate that won't change for another predetermined number of years, it might benefit you to apply for a new policy and replace, or surrender, the old one.

Most people only keep their term policies for the initial term period.

Premiums are subject to change after the initial term period.

This is a great option that allows you to keep your term policy at the same affordable rate you've been paying up until expiration of the initial term period.

The benefit of Protective Term Life insurance is that you can keep your policy forever, and the rates remain affordable as they don't increase right after the initial term period expires.

Farmers offers your typical term policies, 10, 20 and 30 year, which have guaranteed level premiums throughout the initial term period.

If you don't convert your term, you can renew it yearly without an exam up until age 98 (although once your initial term period expires the rate will go up each year).

At the end of your initial term period, some companies may allow you to extend your policy for another specified level period but this almost always requires proof of good health.

The initial term period can either be 1, 2, 3, 4, or 5 years in duration, depending upon issue age.

1If requested prior to the earlier of the end of the initial term period or the policy anniversary following the insured's 75th birthday, the policyowner can convert the term policy to the permanent life insurance policy that we make available for conversion on that date in the policy's state of issue.

Think about this: a young adult who has purchased a 10 - or 20 - year term policy may experience much higher premiums for the same policy if they outlive the initial term period (as they are statistically likely to do) 4 and will have no cash benefit to show for their years of paying premiums.

You must exercise the conversion option either by the end of the initial term period or by age 70 (75 if rated preferred plus).

Premiums are guaranteed to stay level for the initial term period and increase annually thereafter.

The premium due upon renewal will most likely be higher than the premium you paid for the initial term period.

Term insurance premiums are very inexpensive for the initial term period and as a result people quite a bit of this type policy.

These policies are convertible within the initial term period, you convert to permanent life insurance.

what's unique is that when the initial term period expires Protective allows the policy holder to keep the premiums at the same rate just, the coverage amount decreases.

The premiums on the term life products that are offered via Banner Life Insurance Company are guaranteed to remain level through the initial term period.

The company offers guaranteed level premiums for the initial term period and then increases them each year afterwards.