Sentences with phrase «of permanent policy purchased»

Not exact matches

Had the individual purchased permanent life insurance, he or she could have access to a potentially significant source of supplemental retirement income in the future (depending on the policy type), while preserving the death benefit in perpetuity (note, however, that the death benefit and cash value of a policy is reduced in the event of a loan or partial surrender, and the chance of lapsing the policy increases).

If you're considering permanent life insurance, but are wary of the complexity of the policy and not interested in the cash value or investment benefits, guaranteed universal life insurance is a less expensive way to purchase nearly - lifelong coverage.

If, for example, you received a significant promotion and raise 5 years after purchasing term coverage, you might want to convert to a permanent life insurance policy to take advantage of the tax benefits and receive dividends.

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.

One way would be to purchase a permanent life insurance policy which would be given to the employee upon retirement, after a certain number of years with the company, or based upon a certain level of performance.

These options have certain consequences that come into play so it's important to work closely with your life insurance agent if you plan on purchasing a permanent policy for your child to make sure you understand the ins and outs of your particular policy.

If you purchase a permanent life insurance policy on your child before all these factors even come into play, they will never have to worry about having increased rates or having their application denied based off of one of the factors stated above.

Which means that you made the decision to get your life insured, that way, if you develop some type of health condition that would either make it impossible or cost prohibitive to purchase another policy, you can always convert your term policy to permanent coverage, regardless of your health condition.

Fifteen years ago, Alex purchased a participating whole life policy for the purpose of accruing cash value, planning for college funding and also securing a permanent death benefit for his family.

If you're considering permanent life insurance, but are wary of the complexity of the policy and not interested in the cash value or investment benefits, guaranteed universal life insurance is a less expensive way to purchase nearly - lifelong coverage.

Life insurance can be purchased either as a permanent policy, covering your entire lifetime, or as a term policy, covering a certain period of time — anywhere from a year to 30 years.

Ask your agent about options for a renewable term policy, as well as policy riders that include allowing you to purchase additional insurance at a future date regardless of your health, or converting a portion of your term into a permanent policy.

When purchasing insurance, you may add virtually any form of term insurance to a base permanent policy in the form of a term rider.

There are many insurance and financial professionals who suggest that those who purchase a Term Life policy can make up for the investment component of a Permanent Life insurance policy by investing the cost savings between the two on their own.

The strategy consists of the purchase of a «quick - pay» permanent life insurance policy.

When purchasing a final expense life insurance policy, it is important for an applicant to determine the type of coverage that they need — term versus permanent — as well as the amount of coverage that will be appropriate for their specific needs.

As of 2011, whole life policies purchased rose to 31 % of all life insurance policies, making them one of the most popular types of permanent life insurance.

If you've been thinking about purchasing a life insurance policy, you've probably noticed that there are two main kinds of life insurance: term and permanent.

You will do best to purchase a permanent policy while you are young so that you can lock in low rates and retain those rates for the rest of your life.

That's why when purchasing a term policy, it's never a bad idea to find out what kind of permanent policies are offered by the company you are considering.

You may purchase a rider to add a child or children to your policies with a variety of term and permanent life policies.

With rate guarantees preventing insurers from increasing the rates of existing policy holders, many Canadian insurers have been forced to increase the cost of new permanent life insurance purchases by up to 50 %, and more increases are likely.

Estate tax planning should not be overlooked because there are many techniques available to reduce estate taxes, such as holding assets in joint ownership, establishing testamentary trusts, and the purchasing of permanent insurance policies to cover estate income taxes.

However, with the cost for new purchases of permanent life insurance products rapidly increasing, fewer customers will be interested in cancelling their existing policy in favor of alternatives.

Also, if the coverage is convertible (the coverage can be «converted» to a comparable permanent life insurance policy, without the need to provide evidence of insurability), you can get the coverage you need today — with the ability to purchase permanent insurance coverage in the future.

That's why when purchasing a term policy, it's never a bad idea to find out what kind of permanent policies are offered by the company you are considering.

At the end of the term, you will have the opportunity to purchase another term, or even it to convert your policy to a permanent insurance policy such as whole life, universal life or variable life.

With the purchase of a permanent life insurance policy, usually a guaranteed universal life, the couple has the benefits of this policy.

Permanent life insurance is a policy that can be purchased at any time throughout your life and will provide coverage for the remainder of your life, as long as your premiums continue to be paid.

While ordinary Permanent Life insurance is typically purchased in much larger benefit amounts (i.e. six - figures or more), a Final Expense policy tends to be issued in face amounts of $ 2,000 to $ 50,000 (these amounts vary, depending on the insurer).

Regardless of whether you go with a term or a permanent policy, when you purchase a no medical exam plan, it will be important that you know several things about your coverage.

In 2010, direct purchases of permanent life insurance (whole life, universal life, variable life, and variable universal life) represented over 61 % of life insurance policies issued.

Buying term and invest the difference means you will use an amount equivalent to what it will cost to purchase a permanent life insurance plan, and then compare this to the expense of a term policy for a similar face amount covering the time period it is required.

Dividends can be used in several ways, including purchasing additional life insurance coverage, adding to the cash value component of a permanent life insurance policy, or receiving directly in cash.

One of the best ways to avoid this type of expiration is to purchase a permanent life insurance policy.

Final expense policies are a smaller amount of permanent life insurance (typically $ 5,000 - $ 40,000) that you can purchase to give your family the protection that they need to cover the funeral and all other related costs.

Under this type of plan, the employee purchases a permanent life insurance policy on his or her life.

Unlike whole life insurance, which is considered a type of permanent life insurance, level term policies will eventually come to an end at a specific amount of time based on the policy you purchase.

Because of substantial surrender penalties, the California Department of Insurance warns that you shouldn't buy a permanent life insurance if you plan to give up the policy shortly after purchasing it.

Compare that to whole life insurance, the most popular type of permanent life insurance: you purchase a policy and it lasts for as long as you pay for it.

Ask your agent about options for a renewable term policy, as well as policy riders that include allowing you to purchase additional insurance at a future date regardless of your health, or converting a portion of your term into a permanent policy.

As permanent policies, they afford the flexibility to vary the amount or timing of premium payments, and the death benefit may be adjusted up or down (in accordance with the plan limits) without having to purchase a new or separate policy.

The Survivor Purchase Option allows the Survivor to purchase a new permanent policy without evidence of insurability at the first death of the insureds, and is available for 90 days if the first death of the insureds has occurred prior to the policy anniversary in which the SurvivoPurchase Option allows the Survivor to purchase a new permanent policy without evidence of insurability at the first death of the insureds, and is available for 90 days if the first death of the insureds has occurred prior to the policy anniversary in which the Survivopurchase a new permanent policy without evidence of insurability at the first death of the insureds, and is available for 90 days if the first death of the insureds has occurred prior to the policy anniversary in which the Survivor is 75.

If a permanent policy is purchased they usually cease payment or make the employee take over payments on the policy at date of retirement or termination, but every company has it's own policy in terms of compensation.

When purchasing a final expense life insurance policy, it is important for an applicant to determine the type of coverage that they need — term versus permanent — as well as the amount of coverage that will be appropriate for their specific needs.

If the term policy you previously purchased has a conversion option, you can convert all or a portion of your policy into a permanent one regardless of your health as long as you convert before the deadline listed on your policy.

This type of insurance can be purchased as a term policy or a permanent policy.

If purchasing a permanent life insurance policy, the savings in the cash value portion of the policy can also be used for funding future goals such as college savings.

If you purchase a permanent life insurance policy on your child before all these factors even come into play, they will never have to worry about having increased rates or having their application denied based off of one of the factors stated above.

One way would be to purchase a permanent life insurance policy which would be given to the employee upon retirement, after a certain number of years with the company, or based upon a certain level of performance.