Sentences with phrase «obtain death benefit coverage»

With term life insurance coverage, an insured will obtain death benefit coverage only, without cash value build up.

Because of this, term life insurance can provide a fairly inexpensive option for obtaining death benefit coverage.

Not exact matches

Due to the flexibility of variable life, however, this type of policy can allow policy holders to obtain a much higher rate of return on invested funds, while at the same time getting the protection of a guaranteed amount of death benefit coverage.

If term life insurance coverage is obtained through a group plan, the death benefit may be taxed as income to the beneficiary if the amount is over $ 50,000.

As a rule of thumb, if a client can no longer get medically underwritten for new insurance coverage but still has a financial need for the death benefit provided by his or her company's plan, then we often advise conversion regardless of price, since it will be unlikely that they can obtain coverage elsewhere,» he adds.

In many cases, accidental death coverage can be fairly inexpensive — whether it is obtained as a part of an employee benefits package or as an individual policy that is purchased directly by a consumer.

While the death benefits are smaller, you may be able to obtain enough coverage to pay for your funeral and other final expenses (the average funeral costs about about $ 7,100).

This means that you are obtaining pure death benefit coverage without any cash value or savings component.

With these term life insurance plans, a policyholder can obtain coverage with death benefits as low as $ 25,000 and a maximum face amount of $ 999,999 — and there is also the option to obtain a policy without the need for a medical exam for policies of up to $ 249,999.

With term life insurance, you will obtain death benefit only coverage, with no other savings or investment options connected to the policy.

Benefits obtained through a permanent life insurance are a combination of death benefit coverage and accumulated cash value which can be used as an income stream in retirement.

It's always worth exploring a traditional term policy since you may be able to obtain a higher death benefit and more affordable premiums per dollar of coverage, compared to other types of life insurance listed below.

For example, you will want to make sure that you obtain the right type of coverage, as well as the right amount of death benefit coverage for your anticipated needs.

For example, will you go with term life and obtain pure death benefit protection, or will permanent coverage be better so that you can have death benefit coverage along with a cash value build up?