Sentences with phrase «lifetime of the insured»

This type of insurance is called permanent because it is intended to last the entire lifetime of the insured.

Lifetime benefit options allow an insured to extend long - term disability coverage past age 65 up to the actual lifetime of the insured.

Permanent life insurance is life insurance that covers the remaining lifetime of the insured.

The purpose of term cover is to ensure the economic safety of the dependents within the productive lifetime of the insured.

«Whole life,» as the name implies, lasts for the entire lifetime of the insured person instead of a set term, and grows in value over time to a final death benefit.

Whole life insurance can literally span throughout the entire lifetime of an insured.

Whole life remains in effect for the lifetime of the insured or until you no longer pay the premiums and the policy lapses.

The owner controls the policy during the lifetime of the insured.

Unlike term life insurance, which can be purchased for covering a specific financial obligation such as mortgage payoff, permanent coverage is designed to last for the lifetime of the insured.

An SPIA — or a single premium immediate annuity — create instant income during retirement through taking a lump sum of money and converting it into regular payments that continue for a specified period, or for the lifetime of the insured.

With a permanent life insurance policy, the coverage will not expire within any set amount of years, but rather will last throughout the lifetime of the insured — provided that the premium is paid.

Universal life insurance is a permanent policy that is designed to last throughout the entire lifetime of the insured.

Accelerated Benefits Rider Allows a portion of the policy death benefit to be accessed during the lifetime of the insured should he or she be diagnosed with a terminal illness.

Whole life remains in effect for the lifetime of the insured or until you no longer pay the premiums and the policy lapses.

Other policies will allow for payments throughout the lifetime of the insured.

The policy will continue to pay either until a set age limit or for the lifetime of the insured.

Term life insurance policies frequently last as long as 30 years, and whole life insurance policies can last the entire lifetime of the insured, so it's very likely that during that time the document has moved or become covered by other records and household items.

Maturity Age: The best term insurance plans are those that offer cover well into the lifetime of the insured.

Whole life insurance can literally span throughout the entire lifetime of an insured.

Universal life insurance is a permanent and flexible life insurance plan that lasts for the lifetime of the insured or the life of the policy.

4 Distributions from a life insurance policy in the character of partial surrenders (withdrawals) up to basis or policy loans will generally be income tax free, provided the policy does not violate Modified Endowment Contract (MEC) guidelines and the policy is not terminated during the lifetime of the insured.

Premiums are fixed and the policy will remain in force for the entire lifetime of the insured, provided the premiums are paid.

Whole life insurance policies remain in force for the lifetime of the insured.

This type of policy provides protection that can last for the entire lifetime of the insured (provided that the premium is paid).

2 Distributions from a life insurance policy in the character of partial surrenders (withdrawals) up to basis or policy loans will be income tax - free, provided the policy does not violate Modified Endowment Contract (MEC) guidelines and the policy is not terminated during the lifetime of the insured.

A universal life insurance policy is built to last for the entire lifetime of the insured — and it can also provide more flexibility than some other types of permanent life insurance, like whole life.

The premiums for a whole life policy remain the same throughout the lifetime of the insured, provided that he maintains coverage.

* The maximum amount that can be accelerated over the lifetime of the insured is the lesser of 90 % of the face amount of the policy or $ 500,000, and the minimum face amount that can be accelerated is $ 1,000 annually.

Whole life insurance builds cash value and lasts the lifetime of the insured.

Whole life and universal life policies are considered permanent life insurance because they will provide coverage for the lifetime of the insured.

An SPIA — or a single premium immediate annuity — create instant income during retirement through taking a lump sum of money and converting it into regular payments that continue for a specified period, or for the lifetime of the insured.

A. Whole life insurance provides guaranteed coverage for the lifetime of the insured at a fixed premium and also builds cash value at a guaranteed rate.

^ ^ Distributions from a life insurance policy in the character of partial surrenders (withdrawals) up to basis or policy loans will be income tax - free, provided the policy does not violate Modified Endowment Contract (MEC) guidelines and the policy is not terminated during the lifetime of the insured.

It stays into effect till the lifetime of the insured.

Universal life is a type of permanent life insurance that lasts for the lifetime of the insured.

Distributions from a life insurance policy in the character of partial surrenders (withdrawals) up to basis or policy loans will generally be income tax - free, provided the policy does not violate Modified Endowment Contract (MEC) guidelines and the policy is not terminated during the lifetime of the insured.

This policy can be set up to last throughout the lifetime of the insured, using a combination of the premium and the cash account to keep it enforced.

Whereas a whole life insurance plan provides coverage for the lifetime of the insured, term life provides coverage during the predetermined term of coverage.

This type of life insurance is intended to last for the entire lifetime of the insured.

The single premium payment whole life insurance policy will also remain in force for the entire lifetime of the insured.

With whole life insurance, the coverage will remain in force throughout the entire lifetime of the insured — as long as the premium is paid.

Universal life insurance charges a rising amount of insurance costs over the lifetime of the insured.

The premium is fixed and won't increase during the lifetime of the insured person as long as premiums are paid as agreed, for the entire time the policy is in force.

Unlike term life insurance, which can be purchased for covering a specific financial obligation such as mortgage payoff, permanent coverage is designed to last for the lifetime of the insured.

This combo offers fiscal protection against the demise all through the lifetime of the insured with the proviso of payment of the lump sum amount at the termination of the term of the chosen policy in the case of his survival.

Term Insurance provides coverage for a specific period of time whereas Permanent life Insurance provides coverage throughout the lifetime of insured provided policy is in - force, i.e. active.