Sentences with phrase «on their whole life policies without»

If their situations change, it is unlikely that they will be able to increase or decrease either the premiums or the death benefits on their whole life policies without surrendering them and purchasing new policies.

Not exact matches

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.

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.

If you're planning on switching to whole life or universal life insurance once your term ends, it's best to choose a company that allows you to convert your term life policy, preferably without any medical exam required.

Policies that are meant to build cash value, like whole life, variable life, and universal life, let the policyholder have access to a return on their investment without needing to wait for death.

Attained age conversion is a point in time on a term life policy when the policyholder has attained the agen where they have the right to convert the term life insurance policy into a permanent whole life or universal life policy at their election and without having to take a paramedical exam.

Converting a term life insurance to a universal life insurance policy can make a huge impact on your financial security, but the opposite, converting whole life insurance to a term life policy, results in the loss of much of your paid premiums and has the added disadvantage of possibly terminating without a settlement when the term expires.