Sentences with phrase «insure over the term of the policy»

Not exact matches

When the insured is age 70 — or at the end of the guaranteed period of level - premium — whichever occurs first, the insured is allowed to convert the level term life insurance policy over into a whole life insurance or a universal life insurance plan.

Prior to the ending of the level term period, however, or to the attainment of age 70 — whichever is earlier — the insured is allowed to convert the policy over to a permanent life insurance policy that Lincoln makes available.

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.

Both upfront and installment premium recognition methods recognize premiums over the term of an insurance policy in proportion to the remaining outstanding principal balance of the insured obligation.

Many of the term life insurance policies that are offered through Mass Mutual can be transformed over into permanent life insurance plans, typically without the insured having to take a medical exam or prove insurability.

Yet, over time, while an insured who owns term life coverage may need to renew at a higher premium rate, a whole life insurance policy holder will retain the same premium expense throughout the entire life of the policy.

Also, the insured may also wish to take advantage of the conversion option, which can allow him or her to convert the term policy over into a permanent form of life insurance coverage.

Converting a term policy over into a permanent form of coverage can allow an insured to obtain life insurance protection for life — regardless of future age increases and the possibility of contracting an adverse health condition.

At issue was whether OCGA 33 -32-4 (a) authorizes the insurer to issue a credit life insurance policy which covers the total amount payable over the term of the loan or limits the policy's coverage to the principal amount financed by the insured.

This Massachusetts bright - line rule will likely reduce litigation over whether the duty to defend includes the duty to prosecute a counterclaim, and an insured in Massachusetts now knows that, if it wants its insurer to prosecute and fund the prosecution of a counterclaim, it should probably negotiate for that specific term in its policy.

If the child is eligible, at the end of the term period, the benefit may be able to be converted over into a qualified permanent life insurance policy, with a benefit that is up to 5 times the original amount of the term coverage — regardless of the child / insured's health.

This allows the insured to convert the term policy over into a permanent form of life insurance — such as whole life or universal life — at a future time.

The term «umbrella» means that it is a separate policy carried over and above any other basic Liability policies of the insured.

Representing over 80 of the nation's highest rated and most respected life and disability insurance companies, MEG's primary areas of expertise include term life insurance, universal life, disability income insurance, in - force policy review, insuring tough health issues, business insurance including business succession and key man life and disability insurance, as well as estate planning.

While the premium for permanent life insurance may initially be higher than that of term life coverage, in most cases, the amount due will not increase over time — regardless of how long the insured keeps the policy.

Yet, over time, while an insured who owns term life coverage may need to renew at a higher premium rate, a whole life insurance policy holder will retain the same premium expense throughout the entire life of the policy.

Often, insureds are allowed to convert their term life insurance coverage over into a permanent life insurance policy without having to take a medical exam or even provide any additional evidence of insurability.

Also, some term policies are also able to be «converted» over into permanent life insurance coverage — and in some cases, the insured will not have to prove evidence of insurability.

In some cases, a term life insurance policy will offer the option to convert over to permanent life insurance coverage without the insured having to provide evidence of insurability.

There are also many term life insurance policies that can be converted over into a permanent policy — and this can often be done without the insured having to take a medical examination, or even to provide proof of insurability.

However, once that period has elapsed, then the term life insurance will expire — and, if an insured would like to continue having life insurance, then he or she must then either obtain another policy, pay higher premiums on the current term policy, or convert the term policy over to a permanent form of coverage.

Roughly assuming that whole life insurance is about 8 to 12 times the cost of a comparable 20 year term policy, the left over money NOT SPENT on a whole life policy allows the insured to save a huge amount of money in 401Ks, Roths, HSAs, Saving Accounts, and by paying down their mortgage early.

In addition, if the insured wishes to have a lifetime insurance policy in the future, he or she may also be able to convert the Non-Medical term policy over into a permanent form of life insurance coverage that is offered through American Amicable.

Representing over 80 of the most respected life and disability insurance companies, our primary areas of expertise include term life insurance, universal life and equity indexed universal life, disability income insurance, in - force policy review, key man life, business succession planning, insuring tough health issues and estate planning.

In a recent ruling, the South Mumbai Consumer Forum, presided over by S M Ratnakar and S G Chabukswar, has held that unilaterally changed terms could be disputed by the insured and the claim would have to be settled on the basis of the original policy conditions.

For those who have shorter term coverage needs, and / or a limited amount of money to spend on life insurance premiums, a term life insurance policy could very well be the best alternative — especially one that has the option of being converted over into a permanent policy in the future, regardless of the insured's health condition.

Because of this, term life insurance can be an affordable way to secure a significant amount of necessary coverage — and, the term life insurance policies that are offered by Legal and General / Banner Life Insurance Company can be converted over into permanent insurance protection by the insured.

The payouts from term life policies are almost always tax - free, except in situations where the person being insured, the policy's owner, and the beneficiary of the policy are all different people (agents refer to this type of arrangement as the «unholy trinity» or the «Goodman Triangle,» based on the court case that established this rule), or if they would put your estate over the estate tax threshold.

This coverage can be purchased starting at age 0, and in many instances, the policy holder will have the opportunity of converting the term policy over into a permanent life insurance policy — which can then provide coverage for the remainder of the insured's lifetime.

In addition, the term insurance policy may be able to be converted over to a permanent form of life insurance coverage without the insured having to prove insurability.

The insured, the owner of the policy, does not get back any of the premium paid out over the term coverage of a policy if the insured does not pass away within the predetermined term coverage time frame.

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.

And, there are many term life insurance policies that can be converted over to a more permanent form of life insurance coverage — often without the insured having to take a medical exam in order to qualify.

(There are some term life insurance policies that will allow the insured to convert their policy over to a permanent form of life insurance.

When the insured is age 70 — or at the end of the guaranteed period of level - premium — whichever occurs first, the insured is allowed to convert the level term life insurance policy over into a whole life insurance or a universal life insurance plan.

Once the coverage has expired, the insured will need to either re-apply for a policy at his or her age and health (where the premium will typically be a great deal higher at that time), or convert the term insurance policy over to a permanent type of coverage (if applicable).

It is similar to life insurance but differs due to the sum that is insured reduces over the term of the policy to track your reducing outstanding mortgage sum.

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.

Term Conversion Rider — With the term conversion rider, an insured may convert his or her term life insurance policy over to a permanent life policy without having to provide any evidence of their insurabilTerm Conversion Rider — With the term conversion rider, an insured may convert his or her term life insurance policy over to a permanent life policy without having to provide any evidence of their insurabilterm conversion rider, an insured may convert his or her term life insurance policy over to a permanent life policy without having to provide any evidence of their insurabilterm life insurance policy over to a permanent life policy without having to provide any evidence of their insurability.

There are, however, some term life insurance plans that will allow the insured to covert the policy over into a permanent life insurance option — sometimes even without the need to prove evidence of insurability.

In some cases, the insured will be able to convert their term policy over to a permanent insurance policy at some point during the «term» of coverage.

The new framework projects that the health savings account will create a fund over 5 - 15 years and long - term health policies could carry tenure of 3 - 5 years to finance insured's healthcare expenses during their post-retirement years.

Term insurance is the simplest form of life insurance plan that offers comprehensive life coverage over a period of time and in case the insured person dies during the tenure of the policy, the guaranteed death benefit is payable to the nominee of the policy.

The insured receives periodic survival benefits over the term of the policy.

To sum up, an endowment policy is essentially a life insurance policy, which in addition to covering the life of the insured, also helps him or her save regularly over a specific period of time so that he or she receives a lump sum amount at maturity in the event of him / her surviving the policy term.

It is generally paid to acknowledge the consistent payment of the premium by the insured over the term of the money back policy.

Be mindful that several life insurance companies will provide the option on your behalf to modify your term life insurance to a whole life policy over the duration of the insured time.

with term life, the policy can be allowed to lapse once the insured period is over, making this type of policy excellent for things such as paying off the mortgage or some other large bill.