Sentences with phrase «of a permanent life policy»

The most affordable type of life insurance is a special type of permanent life policy known as final expense insurance.

But it won't make you rich, and all of those advertising such accounts and those like them, make huge commissions off of permanent life policies if they are the agent.

The cash value of a permanent life policy can be used to purchase an annuity which will give you a monthly income for the rest of your life.

However, when evaluated in comparison to other financial investments, the growth rate of permanent life policies is low even if the tax savings are included.

The most important feature of a permanent life policy is that you can take a policy loan by borrowing against your cash value.

Face value and cash value are the main elements of a permanent life policy.

Basically the original face amount of the permanent life policy will grow over a period of time.

There are numerous different versions of these permanent life policies depending on the investment attribute attached to the policy and this should be considered carefully.

There are several types of permanent life policies that provide added investment components, but these are more complicated to buy and come with additional fees and expenses.

If you fear you might not be able to keep pace with the higher premium payments of a permanent life policy if your income suddenly dropped, it may be wise to keep your term life policy as is, which generally would keep your payments smaller.

«I often come across people who may prefer the long - term security of a permanent life policy, but they need a bigger death benefit than they can afford,» he said, noting that term life coverage, which offers a bigger benefit for smaller premiums, is generally the better bet in that case.

When a customer balks at a quote for cash - value life, agents will use a technique called blending to substitute (or blend in) convertible term life for a portion of the permanent life policy.

«Most people want the certainty of a permanent life policy,» Allen explains.

Some of the benefits of a permanent life policy include the following:

Any type of permanent life policy listed above could be «participating» or «non-participating.»

For example, there are certain cases when we recommend a Term Life Policy instead of a Permanent Life Policy as it may help widen the options amongst firms competing for your business and keep costs low for those considered high risk.

(These riders are automatically included by New York Life on most of its permanent life policies.)

Some critics charge that hefty fees counter the upsides of permanent life policies.

Since the value of a permanent life policy remains the same or even increases over time, this type of solution will not only pay off the home mortgage, it the remaining value of the policy can be directed to one or more family members or even earmarked to pay off other family debts.

There are several types of permanent life policies that provide added investment components, but these are more complicated to buy and come with additional fees and expenses.

There are two types of permanent life policies, participating and nonparticipating policies.

There are two types of permanent life policies:

Two of the major types of permanent life policy are universal life and whole life policies.

Variable universal life is also a type of permanent life policy.