Sentences with phrase «of these whole life policies without»

You could, however, switch into one of these whole life policies without proving good health, a feature called a «conversion option».

Not exact matches

Term - to - 100 is similar to whole life, except without any refund of the cash surrender value if you cancel your policy.

Most insurers who sell such policies offer a maximum of $ 50,000 of whole life coverage without a medical exam.

Convertible term life insurance is simply a term policy that can be converted to a whole policy at any point during a specified period of time (typically several years) without you having to undergo a new health assessment.

The benefit is the non-participating policy offers the guarantees of a whole life policy, but without the additional benefit of a return of premium in the form of an annual whole life insurance dividend.

The cash value of a whole life insurance investment policy can be accessed without having to jump through the various hoops that are necessary for a bank loan, including a credit check and reams of paperwork.

Because of its long lasting nature, a whole life insurance policy holder will never find himself or herself without a life insurance plan — regardless of how long they need the coverage or any adverse health conditions that they may acquire over time.

A type of term insurance that allows you to exchange the term insurance policy for a permanent life insurance policy (whole or universal) without having to take a new medical exam.

The whole life insurance policy is a plan that you buy for a fixed number of years with a fixed premium rate, and it has the additional advantage of qualifying you for investment benefits against which you can borrow without being taxed.

This valuable feature allows you to convert your term policy to a permanent policy (e.g., whole life insurance) without submitting evidence of insurability.

Convertible Term Insurance is a type of Term Life Insurance which, in accordance with the insured's wishes, can be converted into a Whole Life Insurance policy or a Universal Life Insurance policy without evidence of insurability.

There are several different types of life insurance policies you can buy without a medical exam including level term insurance, simplified issue term insurance, simplified issue whole life insurance and guaranteed issue whole life.

Since the money you pay into the policy belongs to you, you can even borrow against your whole life policy without going through a credit check, putting up collateral or any of the hassles associated with ordinary loans.

A prime benefit of the whole life cover is that it is regarded as a permanent life insurance policy, which is designed to provide the policy holder with a lifetime coverage protection without any changes in the premium amount or the time period.

Depending on the insurance company, at the end of the level term period, you may have the option to use the policy cash value to purchase a guaranteed paid - up «whole life policy» without having to prove your health.

Additionally, most annual renewable term policies offer a conversion feature that allows you to exchange a term policy for a whole life or universal life policy without proof of health.

The accrued cash value of a whole life policy has another benefit; you can use the accrued value without affecting the guaranteed payout amount.

The conversion privilege permits a policyholder to exchange a term policy for a whole life or universal life policy without evidence of insurability.

Thus, if you decide in later life that you don't need the large term policy, you can simply convert it to a much smaller whole life without worrying about answering a lot of health questions.

They host a full collection of term life, universal life, and whole life to cover the many needs you and your loved ones may have, and can even get a policy with a death benefit up to $ 30,000 without a medical exam.

Besides, a whole life policy goes against the idea of budgeting for your needs now — you're locking into a policy without thinking where you, your family or your financial situation will be in one year, three years or 30 years.

Most companies offer the option to convert a term policy to a whole life or universal policy without requiring additional proof of good health or evidence of insurability.

Most insurers who sell such policies offer a maximum of $ 50,000 of whole life coverage without a medical exam.

With interest - sensitive whole life insurance, you can have more flexibility with your life insurance policy such as increasing your death benefit without raising your premiums depending on the economy and the rate of return on your cash value portion.

Convertibility refers to the ability to «exchange or convert» your policy, without proving your health, for a whole life, universal life or more permanent form of life insurance that will offer you a level rate for a longer period of time usually your lifetime.

You can choose to convert your term life policy into a permanent life insurance policy without having to go through the whole underwriting process again and you can still have the same rates regardless of your age or health.

The cost to convert to a whole life policy is expensive but having the option to «lock in» a longer guaranteed rate without proof of health can be invaluable.

Unfortunately, due to the complexity of the topic, it's pretty much impossible to give any general «rules of thumb» advice when it comes to where or not someone will be eligible for a traditional term or whole life insurance policy without knowing all the specifics of their medical situation.

Want to consider the possibility of applying for a simplified issue term or whole life insurance policy which would allow you to qualify for a life insurance policy without the need of taking a medical exam.

With MassMutual, you have the option of converting the term life policy into a whole life insurance (also known as a permanent life insurance) policy without having to undergo any additional health questions or physical examinations.

A type of life insurance that allows the policyholder to change a term policy into a whole or universal policy without going through the health qualification process again.

In addition, Cincinnati term policies can be converted to LifeHorizons Guaranteed Whole Life at manageable rates without new evidence of insurability.

Many of these policies can be purchased without a medical exam, and are typically forms of whole life insurance.

I am still confused about (2) things: their claim of «renewable term policies without proving Insurability» and their argument against Whole Life that the Insured's beneficiaries do not receive BOTH the death benefit and the Cash Value.

If your term policy is «convertible», you can «convert» or exchange a term policy for a whole life or universal life policy without proof of good health or evidence of insurability.

Convertible Term Insurance allows the policyholder to change the face value of the term policy in force into a permanent form of Life Insurance, such as Whole Life, Universal Life or Variable Life, without any penalties or evidence of insurability.

A juvenile whole life insurance policy guarantees the child's future insurability, regardless of their health, lifestyle or residence, and is issued without a physical exam.

Sometimes folks are just looking to purchase a small whole life insurance policy that they can simply purchase quickly, without having to jump through a ton of hoops.

The most valuable feature of VGLI is that, so long as you have coverage in place, you can convert it to a whole life insurance policy at a top insurer without demonstrating your health.

A type of term insurance that allows you to exchange the term insurance policy for a permanent life insurance policy (whole or universal) without having to take a new medical exam.

A whole life policy can be exchanged for an `' annuity» (a series of annual sums) without any tax penalties.

The benefit is the non-participating policy offers the guarantees of a whole life policy, but without the additional benefit of a return of premium in the form of an annual whole life insurance dividend.

Single Premium Policy: A whole life policy for people who want to buy a policy for a one - time lump sum, and then be covered for the rest of their lives without paying any additional prePolicy: A whole life policy for people who want to buy a policy for a one - time lump sum, and then be covered for the rest of their lives without paying any additional prepolicy for people who want to buy a policy for a one - time lump sum, and then be covered for the rest of their lives without paying any additional prepolicy for a one - time lump sum, and then be covered for the rest of their lives without paying any additional premiums.

D. Check the age to which a convertible policy may be converted to ordinary whole life at attained age without evidence of insurability.

F. Check whether the conversion clause permits the client to convert the policy to an ordinary whole life policy with the waiver of premium rider without evidence of insurability.

Because of the medical screening, most of our clients in fair to excellent health can purchase $ 100,000 of coverage for the same price as a $ 20,000 whole life insurance policy without a medical exam.

Some term insurance plans allow you to convert your term life coverage to a permanent life insurance policy such as whole life without providing evidence of insurability.

By converting some or a portion of your term policy to a permanent policy such as whole life, you will be able to do so without having to take a medical exam.

In most cases, there are other forms of whole life insurance that can reduce or eliminate the premiums with the additional benefit of being able to recoup earnings higher than your premiums, or allow you to borrow against the policy without penalties.

The advantage of purchasing multiple whole life policies is that they will, in turn, provide you with financial tools that you can make use of while you are still living without jeopardizing the benefits for your survivors if you should pass away.