Sentences with phrase «life insurance rider allows»

This term life insurance rider allows you to receive every premium you paid out back once the term expires.

Not exact matches

However, these days only a handful of insurers offer LTC insurance, so another option may be life insurance with an LTC rider, which allows families to tap into the benefits they would receive upon the policyholder's death while he or she is alive and requires care.

Riders are useful as they allow you to tailor your life insurance policy and gain certain benefits that aren't available with the standard coverage.

A return of premium rider is particular to term life insurance products as it allows you to recoup a portion (or all) of the premiums paid if you live past the full term.

The free online whole life insurance quote tool allows you to consider the impact of three optional riders.

Term life insurance with a return of premium rider allows the owner to get his or her money back at the end of the contract period.

Our free universal life insurance quotes online allow you to see the impact of elective riders on the monthly premiums and projected cash values.

As an example, some life insurance companies may only allow you to convert up to 5x the original face amount of the rider.

This rider is critical, particularly if you are considering life insurance for children or young adults, because if the insured develops a disease or become uninsurable during the policy period, the insurance company allows the insured to increase his or her total life insurance coverage and death benefit at specific times.

Thanks to the acceleration of death benefit rider on his life insurance policy, however, Richard was able to get money to cover his huge medical expenses, allowing his wife and family to say goodbye without the specter of debt hanging over their heads.

Flex Pay PUA Rider — Paid - up additions riders allow you to pay additional premium into your policy to purchase additional participating whole life insurance, which increases your death benefit and cash value.

Riders are useful as they allow you to tailor your life insurance policy and gain certain benefits that aren't available with the standard coverage.

Value Enhancement Rider: The VER is a whole life insurance rider that allows you to add additional single or periodic premium payments to your policy to purchase paid up additions, increasing your death benefit and cash value.

This optional rider allows your kid to opt for more life insurance at specific ages and after certain life events, such as marriage and having a child of their own.

A return of premium rider is particular to term life insurance products as it allows you to recoup a portion (or all) of the premiums paid if you live past the full term.

The term conversion rider, normally built - in to every life insurance policy, allows you to convert a term life insurance policy into a permanent life insurance policy without having to take another medical exam.

Luckily, the long - term care rider on her life insurance policy provides the money to pay for her care, allowing her family to focus on providing for Nikki's emotional needs, not her economic ones.

In addition, the rider allows the policy to be converted to whole life, with the whole life insurance rates continued to be waived.

The spousal rider allows you to add on life insurance to cover your spouse versus owning two separate life insurance policies.

The rider meets the definition of accelerated life insurance death benefits under IRC § 101 (g)(1)(b), which typically allows the chronic illness benefit to be income tax free.

If your term policy allows you to convert you can choose to option your rider and convert all or a portion of your death benefit to permanent life insurance.

A paid up addition is a rider that allows you to buy paid up life insurance and accompanying cash value equivalent dollar for dollar on what you paid into it.

Permanent life insurance policies can include provisions, sometimes referred to as «riders,» that allow the insured to essentially increase his or her coverage over their lifetime.

If you are unable to afford the amount of life insurance you need today, adding this rider allows you to purchase additional life insurance at a later date without having to prove your insurability.

You are allowed to continually add to your policy in addition to your normal premium through vehicles known as life insurance supplement riders, additional life insurance riders, or paid up additions.

The GIO rider allows additional life insurance to be purchased without a medical exam or other evidence of insurability.

Paid Up Additions Rider DEFINITION: A rider that allows the owner of the policy to make additional contributions to the life insurance policy, resulting in the addition of paid up life insurance.

The pro of whole life is that the higher price tag can be mitigated by getting this type of life insurance policy at a young age, adding specific riders that maximize the cash value up to, but not crossing the line, of becoming a modified endowment contract MEC, and allowing you to utilize that cash value in as little as 30 days.

A rider that allows the owner of the policy to make additional contributions to the life insurance policy, resulting in the addition of paid up life insurance.

The paid up addition rider allows the policyholder to add coverage to an existing policy without having to prove insurability, which means there are no health questions or life insurance medical blood testing required.

This type of rider allows you, under certain circumstances, to receive the proceeds of your life insurance policy before you die.

A disability waiver of premium rider allows you to keep your life insurance policy without worrying about how you're going to pay for it while you're out of work.

Amica's level term life insurance coverage also allows the option to add a cost of living adjustment rider.

However, the entire whole life vs term life argument is moot when you understand that you can actually design a whole life policy with term insurance rider, allowing you to get both whole and term life insurance in ONE policy, instead of either / or.

The life insurance companies also offer solutions such as chronic illness riders AND long term care riders, which allow a portion of the policy death benefit to be used for long term care costs while also preserving a portion of the death benefit coverage.

It's one - size - fits - all Individual life insurance policies allow you to customize the death benefit amount and term length, and change policy provisions through riders.

Many company's offer life insurance living benefit riders that allow an acceleration of the policy's death benefit in the form of cash indemnity.

One section of particular note is 7702B (e)(1) which allows life insurance to include long - term care insurance riders and maintain the LTC insurance tax benefits.

As your child grows into an adult, this rider allows you to buy additional life insurance above the face value of the current policy (on specific dates and in certain increments) regardless of his / her health status at the time.

The rider allows the insured to purchase additional life insurance down the road with no evidence of insurability required.

A term conversion rider allows the policyholder to convert an existing term life insurance to permanent life insurance without a medical exam.

Most riders allow you to choose to buy additional life insurance at various stages or at specific ages.

The GIO rider allows the insured to buy more life insurance without evidence of insurability at certain ages, or alternatively, on special occasions, such as marriage or the birth or adoption of a child.

This type of rider allows you, under certain circumstances, to receive the proceeds of your life insurance policy before you die.

Flexible options: Progressive Life Insurance offers a full range of riders and policy options, allowing individuals to customize policies to their unique needs.

A benefit included or added to a life insurance policy with a rider that allows the policy owner the right to receive a portion of the death benefit as defined in the policy if the insured becomes terminally ill and furnishes proof.

Waiver of Premium is an additional provision (sometimes also called a rider) in most Life Insurance policies which allows to stop paying premiums after the insured person has been disabled for a given period of time (usually six months) due to an illness or an injury.

Thanks to the acceleration of death benefit rider on his life insurance policy, however, Richard was able to get money to cover his huge medical expenses, allowing his wife and family to say goodbye without the specter of debt hanging over their heads.

A disability waiver of premium rider allows you to keep your life insurance policy without worrying about how you're going to pay for it while you're out of work.

And if you're a parent looking to buy a life insurance policy on your children, a children's term rider allows you to add term life insurance coverage on all your children - natural, adopted, and stepchildren.