Sentences with phrase «life insurance policy in place of»

By using a traditional life insurance policy in place of a mortgage protection life insurance, a person's beneficiary may be better able to effectively use the benefit amount.

Not exact matches

Dealing with the emotional toll of losing a loved one is difficult enough, but not having a life insurance policy in place can lead to undue financial challenges afterwards.

Therefore, if you are on the younger end of the age spectrum, you might want to consider purchasing something that will be in place for longer, such as a 30 year term policy or permanent life insurance policy.

Term life insurance is often considered the most popular form of insurance for people who want to put a prepared financial plan into place to shelter their family members in case something unexpected happens to the policy holder.

With a term life insurance policy in place, you can help your family cope with loss of income after your death.

Having a life insurance policy in place to address your mortgage payments could be a boon to your estate and to those on whom the burden of mortgage payments will fall.

Although there are benefits to all types of coverage, and each policy has its place, in our opinion there is a clear advantage of cash value life insurance vs term life.

Time to get that life insurance policy in place so that your co-signer, spouse or loved ones won't have to carry the load of the mortgage if something were to happen to you.

Return of premium life insurance can be a great way to make sure you have insurance in place for your family in the event the worst happens, and can also fund a nice windfall if you outlive the policy, but an ROP is not for everyone.

Frank and his attorney put a plan in place that would allow Frank's survivors to use his life insurance policy to help pay for some of the potential estate taxes that might be owed at his death.

Although there are benefits to all types of coverage, and each policy has its place, in our opinion there is distinct advantages to permanent life insurance vs term life.

At time of issue you need to pay the insurance carrier an amount equal to the difference in price between the term policy and what the premium payments would have been had you bought a whole life policy in the first place.

The company currently has more than 640,000 policies in place and $ 31.6 billion of life insurance in place.

An issue has been raised that these GICs would be subordinate to other policy holder claims in the event that Executive Life ever is placed in conservatorship, (i.e., an insurance equivalent of Chapter 11).

Life insurance pays your beneficiaries a substantial cash benefit should you die during the term of the policy — essentially protecting them against the risk that you might die prematurely, placing them in financial jeopardy.

The IRS places a limit on how much money can go into life insurance premiums for the policy and how quickly such premiums can be paid in order for the policy to retain all of its tax benefits.

Canadian Life and Health Insurance Association says a majority of individual policies issued each year to consumers will be affected by the change, which will be in place by Jan. 1, 2018.

This would defeat the whole purpose of purchasing a life insurance policy in the first place.

We are an independent life insurance brokerage, and we work with many of the top burial insurance policy providers in the market place today.

Many people do in fact have more than one life insurance policies in place, but it is important to shop around carefully for each type of coverage.

37 yr old Neither of us have a life insurance policy in place.

From there we run into our second problem which is that guaranteed issue life insurance policies will only begin to cover «natural causes» of death after the policy has been in place for a minimum of 2 years (and sometimes 3).

Life Insurance: Coverage placed on the life of an individual whereas an insurance company issues a policy and pays a stated death benefit in the event of the insured's deLife Insurance: Coverage placed on the life of an individual whereas an insurance company issues a policy and pays a stated death benefit in the event of the insuredInsurance: Coverage placed on the life of an individual whereas an insurance company issues a policy and pays a stated death benefit in the event of the insured's delife of an individual whereas an insurance company issues a policy and pays a stated death benefit in the event of the insuredinsurance company issues a policy and pays a stated death benefit in the event of the insured's death.

Having a life insurance policy in place will help allow your family to make the most of other savings opportunities and use those funds how they were originally intended.

Funeral costs, hospice care, unpaid debts and medical bills are just some of the expenses your family may be left with if you do not have a life insurance policy in place when you die.

Avoid Modified Endowment Status: If the subsequent premiums paid into the new policy, other than the exchange proceeds, are within the new 7 - pay limit, then a 1035 Exchange of a life insurance policy allows the policy owner to place the original contract's entire value in the new policy without creating a modified endowment contract, or MEC.

TIAA - CREF sells two types of term life insurance, which provides a death benefit for as long as the policy is in place:

When I refer to estate planning, I'm speaking specifically of advanced planning you may do with your attorney to provide for liquidity upon death, as well as putting a life insurance policy in place in preparation for estate taxes.

If you are going through the different types of life insurance to find the best possible policy for you and your family, then you are in the right place!

If you find that you may have overlooked certain potential costs — even if you already have a current life insurance policy in place — there ways to easily ensure that the remainder of the potential expenses will not be burden to loved ones.

Having a life insurance policy in place offers peace of mind that your loved ones will have the financial resources to pay expenses in your absence.

By obtaining a no medical exam type of life insurance policy first, you would have the total peace of mind that even if any problems were later detected, the policy would already be in place and your loved ones would be adequately financially covered.

With either option, protection is in place to cover the expenses of the first death in a survivorship universal life insurance policy.

This means that when you place your life insurance policy in force and you're within 6 months of your next birthday, they'll actually determine your rates as if you are 1 year older.

Not every illness or accident is unavoidable however, so in the off chance something bad should happen to you, you can have peace of mind knowing that you have a Paterson life insurance policy in place for the protection of your loved ones.

After the policy is placed in force, you will wait a couple of months and then have her transfer ownership of the life insurance plan to you as a gift.

If you have a life insurance policy in place to protect your family, there is a lot you can do to ease their burden in the event of your death.

Whether it's a short term debt such as, a student loan or car loan, or a long term liability like a mortgage or numerous other sources of debt, a life insurance policy pays down the debt on behalf of the person who took out the policy in the first place.

As an accounting professional, you are likely well aware of just how important it is to protect assets and income — and, one of the very best financial tools for doing so is to have a good, solid life insurance policy in place.

A majority of people don't need their life insurance policy to stay in place for their entire lives; once they pay off debts, have fewer dependents, and become self - insured, it's usually not worth paying for a policy.

You diligently did your research, you compared a bunch of life insurance quotes, you picked out the perfect policy with the perfect carrier, and you went on with your life — 10, 20, maybe 30 years — knowing that you had a safety net in place for your family.

Like most folks, your auto, health, home and life insurance coverage are the standard policies you need in place to protect you against most of the unexpected.

In terms of financial protection for your family or estate — which is ostensibly why you bought life insurance in the first place — the level of protection you actually paid for will be very similar to if you'd just bought a term policy for those 3 years and then stopped paying on iIn terms of financial protection for your family or estate — which is ostensibly why you bought life insurance in the first place — the level of protection you actually paid for will be very similar to if you'd just bought a term policy for those 3 years and then stopped paying on iin the first place — the level of protection you actually paid for will be very similar to if you'd just bought a term policy for those 3 years and then stopped paying on it.

One of the easiest places to get multiple, custom term life insurance policy quotes in one place is PolicyGenius.

In June, a survey of life insurance companies revealed that 80 % of companies have an underwriting policy in place for marijuana users, and 29 % of those companies classify marijuana users as non-smokerIn June, a survey of life insurance companies revealed that 80 % of companies have an underwriting policy in place for marijuana users, and 29 % of those companies classify marijuana users as non-smokerin place for marijuana users, and 29 % of those companies classify marijuana users as non-smokers.

The life insurance suicide clause is a provision that's in place during the first two years of the policy.

Term life insurance is often considered the most popular form of insurance for people who want to put a prepared financial plan into place to shelter their family members in case something unexpected happens to the policy holder.

After all, when purchasing a term life insurance policy, you are in control of how long the policy will be in place.

Therefore, when estate taxes are a potential concern, a life insurance policy may be put in place for the purpose of paying such taxes.

By purchasing a mortgage life insurance policy, you can ensure that this cost is taken care of and that those you care about will be able to remain in the place that they call home.