Sentences with phrase «keep the policy in force over»

If you fund the contract with more premium than is necessary to keep the policy in force over any seven - year period, the life insurance policy fails the seven - pay test.

Not exact matches

With these policies, if you keep the policy in force for the entire term, say 20 years, the insurance company will refund the premium payments you made over that 20 - year period.

When you purchase private coverage, you have complete control over the type of benefits you want, how long you want to keep the policy in force, and whether you wish to keep it portable.

This flexibility to decide the size and frequency of payments is viable, as long as the total amount of premiums paid over a period of time is enough to keep the policy in force.

The maximum face value is $ 150,000 and the policy may be kept in force to age 80 by paying an annually increasing rate after the initial term is over.

It seems his New York Life variable universal life policy that was doing fine a year ago is going to take an additional $ 60,000 over his regular premium to keep in force for another year and no promises about the year after.

So, the pig would bail them out and take over ownership of the policy and keep it in force until the insured's death, netting a 100 % profit when they received the full death benefit.

If you decide that you want to keep the policy in - force rather than ending it to get your money back the plan will continue to generate cash value for you over the life of the policy.