Sentences with phrase «period of a term life policy»

When the coverage period of a term life policy ends, you could face dramatically increased premiums or be required to go through underwriting.

Not exact matches

The primary difference between permanent and term life insurance is that term policies only provide coverage for a fixed period of time, such as 20 years.

With term life insurance, however, the policy is purchase for a set period of time.

Compared to term life insurance, GUL policies have a higher premium because they cover a longer period of time.

A term life insurance policy is simply a type of life insurance that lasts for a specific period of time called a term.

At the very beginning of setting up an annual renewable term life insurance policy, you will lock in a period of insurability.

While owners of many term life insurance policies have the right to renew the policy once the period draws to a close, the cost will increase upon renewal, and can be considerable.

«The choice between term life or permanent life insurance is not a case of which policy is better; it's a case of which policy is appropriate for the current period in a person's life,» Lynch said.

Since life is unpredictable, term insurance often has an added feature: the ability to convert the term policy to permanent coverage within a certain conversion period — for example within the first 10 years of a 20 year policy.

He is referring to an important component of some, but not all, term life insurance policies — the ability to convert all or part of the term policy, during the conversion period, into permanent life insurance, irrespective of the policyowner's health or proof of insurability.

A term life insurance policy offers coverage for a specified period of time, meaning that if you die during the term of the policy the beneficiary will receive the specified payout (also known as the death benefit or face value of the policy).

The two primary categories of life insurance policy are term and permanent, with term policies only offering coverage for a fixed period of time, while permanent policies last so long as you continue to pay the premiums.

Term policies provide life insurance coverage for a specified period of time.

At certain points during the period of coverage, you can convert your term policy to a permanent life insurance policy (such as a whole life insurance policy or universal life insurance policy) and premiums are determined by your original health rating.

Life insurance can be bought either as a permanent life insurance policy, covering your entire life (as long as your premiums are paid on time and in full), or a term life insurance policy, covering a given period of tLife insurance can be bought either as a permanent life insurance policy, covering your entire life (as long as your premiums are paid on time and in full), or a term life insurance policy, covering a given period of tlife insurance policy, covering your entire life (as long as your premiums are paid on time and in full), or a term life insurance policy, covering a given period of tlife (as long as your premiums are paid on time and in full), or a term life insurance policy, covering a given period of tlife insurance policy, covering a given period of time.

Many insurers offer convertible term life insurance policies, meaning that for a specified period of time you can convert the term policy to a permanent life insurance policy without going through a new medical review.

Term life insurance policies can be purchased to cover nearly any period of time, and will stay in effect for the entire period as long as you continue to pay the premiums (the cost of the policy, which can be paid on a monthly or annual basis).

In addition, their term life policies have a maximum term length of 5 years, so if you know that you want coverage for a longer period of time, you'll pay higher premiums on average since the cost increases each time you renew coverage.

Extended Life Cover Period is the number of years equal to half of the Policy Term, commencing from the Maturity Date.

Unlike permanent life insurance policies which remain in effect for your entire life (assuming your premiums are paid on time), term life policies remain in effect for a specific term or period of time.

With a term life insurance policy, you can secure financial protection for a set period of time, or «term.»

and Sum Assured on Maturity as Maturity benefit at the end of the Policy term in case the Life Insured survives till that period and all premiums have been duly paid.

This coverage shall be applicable for the whole of policy term as well as for Extended Life Cover Period.

A term life policy lasts for a specified period of time.

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.

Apart from all these benefit SBI life Smart Money Back plan offers a free look period of 15 days under which the insured can cancel the policy if he / she is dissatisfied with the terms and condition of the policy.

The universal life insurance with long - term care rider policy provides customization of the benefits period, including 2 - 7 year benefit periods.

While life insurance rates will vary according to your particular health and risk profile, term policies are typically the least expensive form of coverage, since they only pay out if you die during a certain period of time (the «term» of the policy).

And while term insurance is sold for specific periods of time, typically anywhere from 5 to 30 years, a cash value insurance policy is usually considered to be a permanent life insurance policy, as these products are designed to remain in force for your entire life.

The two primary categories of life insurance policy are term and permanent, with term policies only offering coverage for a fixed period of time, while permanent policies last so long as you continue to pay the premiums.

A term life insurance policy offers coverage for a specified period of time, meaning that if you die during the term of the policy the beneficiary will receive the specified payout (also known as the death benefit or face value of the policy).

When the insured is age 70 — or at the end of the guaranteed period of level - premium — whichever occurs first, the insured is allowed to convert the level term life insurance policy over into a whole life insurance or a universal life insurance plan.

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.

Prior to the ending of the level term period, however, or to the attainment of age 70 — whichever is earlier — the insured is allowed to convert the policy over to a permanent life insurance policy that Lincoln makes available.

However, if you only need financial coverage for a particular period of time, you would probably be better served buying a term life insurance policy with an additional insured rider.

35 year old Siddharth chooses our Bharti AXA Life Flexi Save with a policy term of 20 years as he wishes to receive guaranteed benefits along with the flexibility of withdrawing money any time during the flexi benefit pay - out period.

Compared to term life insurance, GUL policies have a higher premium because they cover a longer period of time.

Because all term life policies either expire in say, 10, 15 or 20 years (or otherwise will gradually increase premiums), the greatest PRO when comparing term life is that the there is no expiration of the guarantee period on a guaranteed universal life policy, and the premiums can stay level.

Just like it sounds, a term insurance policy covers a defined period of time while a permanent life insurance policy is with you until death, as long as you pay the premiums.

Term life is a contract between the insured and insurer for a specified period of time, i.e. the «term» of the polTerm life is a contract between the insured and insurer for a specified period of time, i.e. the «term» of the polterm» of the policy.

Although term life insurance does provide a guaranteed death benefit for a period of time, the nerds (actuaries) at the home offices of the major insurance companies know very well you will likely never cash in on the death benefit of a term life policy.

Which is why another huge disadvantage of term life insurance is that, if the premium is not paid by the end of the 31 - day grace period, the policy lapses.

At the very beginning of setting up an annual renewable term life insurance policy, you will lock in a period of insurability.

With Term Life insurance, you can be assured knowing that your term life insurance rate will never change, the coverage can not be decreased and the policy can not be canceled due to a change in health during the period of time you selTerm Life insurance, you can be assured knowing that your term life insurance rate will never change, the coverage can not be decreased and the policy can not be canceled due to a change in health during the period of time you selLife insurance, you can be assured knowing that your term life insurance rate will never change, the coverage can not be decreased and the policy can not be canceled due to a change in health during the period of time you selterm life insurance rate will never change, the coverage can not be decreased and the policy can not be canceled due to a change in health during the period of time you sellife insurance rate will never change, the coverage can not be decreased and the policy can not be canceled due to a change in health during the period of time you select.

Level Term Insurance: A type of term life insurance policy where the face value remains the same throughout the period specified in the insurance polTerm Insurance: A type of term life insurance policy where the face value remains the same throughout the period specified in the insurance polterm life insurance policy where the face value remains the same throughout the period specified in the insurance policy.

Term Conversion: A policy provision that allows a term life insurance policy to be converted to a permanent life policy offered by the company for a specified period of tTerm Conversion: A policy provision that allows a term life insurance policy to be converted to a permanent life policy offered by the company for a specified period of tterm life insurance policy to be converted to a permanent life policy offered by the company for a specified period of time.

A Term Life policy offers coverage only if death occurs during a specific period of time, which coincides with the terms in which the insured member is required to make a monthly premium.

With this policy, the policy owner does have the option of converting the term life insurance policy over to a new permanent life insurance certificate — without having to prove evidence of his or her insurability — until the earlier of the certificate anniversary on which the insured is age 65, or 5 years prior to the end of the initial term period.

What about the person who can't afford a whole life insurance policy and finds the fixed period of term insurance insufficient for their needs?

Term or Lifetime: You can buy income for a specific period of time or income that will last as long as the policy holder (s) live.