Sentences with phrase «paid over the term of the policy»

At the end of the policy period (30 years), John is still alive, so the insurance company sends John a check for $ 22,320 which represents the premiums he has paid over the term of the policy.

Not exact matches

One of the reasons the IMF has changed its tune on fiscal policy is because research it has done in the past year shows that borrowing to pay for infrastructure pays for itself over the longer term by generating faster economic growth.

He called monetary policy «the last line of defence» when it comes to trying to influence mortgage markets — essentially discouraging buyers from borrowing more than they can afford to pay back over the long term.

Over the course of 20 years, that means you're paying $ 15,120 more than if you found a level term policy for $ 119 per month.

As the names imply, decreasing term policies pay a lower death benefit over time, while level term policies maintain the same death benefit for the term of the coverage.

It's not sucked up by huge bureaucracries, or to pay salaries of people who are no longer in the classroom but can't be fired due to contract terms, or to work around archaic and indifferent policies that have evolved over time to protect adult interests over the students».

The CEA's endorsement means that the leadership of all of the major public employee unions in Connecticut have thrown their support behind the candidate who has pledged that he will not propose or accept any tax increase during this second term, despite the fact that Connecticut is facing a $ 4.8 billion budget shortfall over the next three years.While Connecticut's millionaires continue to celebrate the fact that they have been spared the need to «sacrifice» by being required to pay their fair share in taxes, Malloy's policies will ensure massive increases in local property taxes for the middle class and widespread cuts in local education budgets.

Over the course of 20 years, that means you're paying $ 15,120 more than if you found a level term policy for $ 119 per month.

If you're purchasing life insurance to help your family with any of these costs, a cheaper term life insurance policy would be a better fit, since the costs would be paid over time.

Since the plan also ensures that if he were to survive till the end of the policy term, he will receive all the premiums that he has paid over the entire term thus ensuring that he receives commensurate benefits for the premiums he invests whether it is in the form of the Death Benefit or Maturity Benefit.

The main difference between term life and permanent insurance is that term insurance only pays death benefits to your beneficiaries, while permanent life insurance pays out death benefits and accumulates cash value which will continue to build up over the life of the policy.

Another thing to consider is that a mortgage life insurance policy is often written as a decreasing term policy, so the death benefit decreases over time, (just as your mortgage payoff amount decreases as you pay your monthly mortgage payments), but the premium remains the same over the life of the policy.

On the other hand, if you've just purchased a home with your spouse, you might consider a decreasing term policy (since your mortgage balance decreases over time as you pay it off) with a death benefit equal to the size of your outstanding loan.

The return of premium rider, available for return of premium life insurance policies, and also on certain long - term care policies, disability insurance, etc., will return all of your premiums paid over the life of your policy should the term come to an end or should you wish to surrender the policy.

This is a great feature as it means you don't have to pay higher premiums over the entire term of the policy if you only need more coverage for a short period of time.

No more lapses As the policy premium is single and is paid up in a lump sum, therefore, you do not have to stress over policy getting lapsed in a case of premium non-payment hence, making the policy valid for the entire policy term, which creates a good cash value while you render policy benefits in the end.

If you are looking for a life insurance policy that will just cover you for a specific amount of time, such as when your children are young or while you are paying a mortgage, you may want to consider a term life policy over a permanent life policy.

Offers you a money - back guarantee on your term life insurance: If you outlive the policy, the premiums you have paid over the life of the policy will be returned to you.

Over a comparable period of time, a healthy 30 - year - old male would pay $ 564 per month for $ 500,000 of whole life coverage when he could be receiving $ 500,000 of coverage for $ 24 per month with a term life policy.

What makes a short term universal policy great is the ability to pay for a lifetime of insurance over a short term, usually 10 - 15 years.

The cap on the higher premiums is equivalent to the premiums you would have paid if you had never participated in the program, over the course of the policy term.

The main differences between term and permanent life insurance are that permanent life insurance is in force for your entire life (as long as you pay the premiums) instead of a certain «term,» and permanent insurance accumulates cash value over the life of the policy.

The new SRA policy will come into effect on 1 August 2014, from which point the only requirement for employers in terms of trainee salaries will be to pay trainees at least the main rate for employees under the NMW Regulations, which is # 6.31 per hour from 1 October 2013 for those aged 21 years and over.

The good news is, some companies will credit you for a portion of the premiums you paid into your term life insurance policy and carry it over when you decide to convert to assist the cash value accumulation.

Buy the type of policy that suits your needs best, but also make sure you can afford to pay for it over the long - term.

However, once the term is over, all of the money you paid in premiums is gone (unless you have a policy that promises a partial return of premium if you outlive the policy).

Decreasing Term Life Insurance — With this type of policy, the death benefits decrease over various designated time increments throughout the life of the policy, but the premiums you pay remain the same.

If you buy a 30 year term policy and pay $ 50 per month at Preferred Plus, that means you would pay $ 75 per month at the 3rd best rating... a difference of $ 6,000 over the life of your policy.

The cost of insurance for the renewable term element inside a universal life insurance policy can be high in later years, but some companies reduce the cost of insurance by paying the death benefit to beneficiaries over an extended period of 30 years.

• Decreasing Term Life Insurance — Here, the death benefits decrease over designated time increments throughout the life of the policy, but the premiums you pay remain the same.

You pay for the policy over the course of the term, but after the term is up, your policy expires and you no longer pay premiums.

Aggregate Limit — A maximum total of all claim money that will be paid out over the course of the policy term,

Over a comparable period of time, a healthy 30 - year - old male would pay $ 564 per month for $ 500,000 of whole life coverage when he could be receiving $ 500,000 of coverage for $ 24 per month with a term life policy.

Another thing to consider is that a mortgage life insurance policy is often written as a decreasing term policy, so the death benefit decreases over time, (just as your mortgage payoff amount decreases as you pay your monthly mortgage payments), but the premium remains the same over the life of the policy.

The defining feature of this form of term life insurance is that the premiums paid over the life of the policy are paid back to policyholders at the end of their contracts if they are still alive.

It is typically best suited for individuals who have shorter - term needs; their mortgage will be paid off over the term of the life insurance policy and typically, their children are in their teens or older.

As the names imply, decreasing term policies pay a lower death benefit over time, while level term policies maintain the same death benefit for the term of the coverage.

A term insurance policy will require a medical exam, but your family will be listed as the beneficiary of the policy, and they can use the money to pay off a mortgage debt, but still have control over any excess without having to worry about the bank as a middleman.

If you're purchasing life insurance to help your family with any of these costs, a cheaper term life insurance policy would be a better fit, since the costs would be paid over time.

Well, think about how long you pay for life insurance and how much of a life insurance quote difference of $ 5 per month would make over a 30 - year term life insurance policy.

With this type of term policy, your death benefit decreases over time as you pay a level premium.

Term life insurance policies are generally not sold to seniors at or over the age of 90 because the risk to the insurance company having to pay on the policy is simply too great.

As the name implies, this rider will allow term life insurance policyholders to recover all or part of their premiums paid over the life of the policy if they do not die during the stated term.

When it comes to getting a 10 year term life policy in place always do your comparison shopping with all of the companies to avoid over paying.

Over time, less premium will be paid into a whole life contract when compared to an annual renewable term life insurance policy because the whole life insurance uses premium plus investment interest to hold down the cost of insurance and the annual renewable term does not.

If you pay $ 40 per month over a period of ten years (120 months times 40), you will receive $ 4,800 if you are still alive once the policy's term comes to an end.

However, once that period has elapsed, then the term life insurance will expire — and, if an insured would like to continue having life insurance, then he or she must then either obtain another policy, pay higher premiums on the current term policy, or convert the term policy over to a permanent form of coverage.

Roughly assuming that whole life insurance is about 8 to 12 times the cost of a comparable 20 year term policy, the left over money NOT SPENT on a whole life policy allows the insured to save a huge amount of money in 401Ks, Roths, HSAs, Saving Accounts, and by paying down their mortgage early.

Benefit periods are typically three to five years, and correspond to the lifetime benefit cap, or the maximum dollars that will be paid by the insurance company on the policy; these figures are related in terms of the maximum daily benefit over the number of years in the benefit period.

It also helps to eliminate the worry of «not using» long - term care insurance policy benefits that are paid for over many years, but never utilized.