Sentences with phrase «pay your premiums on time means»

Not exact matches

Worse, policies are usually level premium, meaning that, as time goes on, you're literally paying the same for less.

Whole life is a form of permanent insurance, meaning that it doesn't have to be renewed and won't lapse as long as premiums are paid on time.

Earned premium naturally means that the insurance company did not have to pay claims to the policy holder for the elapsed time period since a payout on the policy would inevitably mean reducing the portion of the earned premium equal to the loss incurred by the policy holder and at times even resulting in loss for the insurance company as they might have to pay out more for the loss than the amount they have earned.

Worse, policies are usually level premium, meaning that, as time goes on, you're literally paying the same for less.

If you've still got a while left on your policy or don't like the idea of paying two premiums at the same time, just stop paying the premium on the old one and it will lapse, meaning that it's no longer active.

Having a good credit score means that you will most likely pay your monthly premium on time each and every month.

As mentioned, whole life insurance policies are permanent, meaning they don't expire after a certain period of time as long as the premiums are paid on time and in full.

This means taking care to pay your policy's premiums on time, but also means that you keep track of your policy so you know if there is anything else you need to do to keep it active.

This means that even after the insured has passed away, the total amount of premium that he or she paid into the policy over time — combined with such funds» invested return — will be more than what the insurer will pay out in the form of a death benefit on the policy, resulting in a profit to the insurance company.

This means paying off your premium on time, keeping your driving record free and clear of any traffic or speeding violations and, if you are caught on the road, paying your tickets off in a timely manner.

The coverage has lifetime renewability, which means the company can't cancel it as long as you pay your premiums on time, insure your home for at least 80 % of its value and don't commit insurance fraud.

Each life insurance policy comes with a «Free Look» period, meaning you have a certain time period, usually 10 - 30 days depending on your state, and the insurance company, to return your policy for a full refund of premiums paid.

Universal and whole life insurance are both types of permanent life insurance, which means that you'll be offered guaranteed coverage up until death, as long as you are paying regular premiums on time.

(Your policy may provide for automatic premium loans, which means that if you don't pay your premiums on time, the insurance company will automatically create a loan against your cash value to pay the premium and keep your policy in effect.)

Moreover, a good credit history also means that the insurance premiums will always be paid on time, which is good news for the auto insurance providers.