Sentences with phrase «period on a term life policy»

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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.

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.

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.

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.

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.

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.

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.

A term life insurance policy covers you for a specified period, depending on the term length you chose when you bought the policy.

Since term life insurance protects your family for a set period of while they're still depending on your income and not for your entire life, term life insurance rates are much cheaper and offer more affordable financial protection than permanent policies like whole life.

This policy, like all term life policies offered on our site, provides life coverage for a specific period of time (the term).

Some choose to renew their policies on an annual basis but most choose guaranteed level term life insurance, which is where you a select coverage for a certain time period in increments of five years up to 30 years.

«Return of Premium» is a common feature in many term life insurance policies that provides a full or partial refund of the premium paid at the end of the coverage period if nothing was paid out on the policy during that time.

A term life insurance policy covers you for a specified period, depending on the term length you chose when you bought the policy.

This policy can be converted to a whole life or conversion universal life (conversion UL) on any premium due date prior to the earlier of age 70 or end of the level term period.

Term life has more flexibility in coverage than permanent life policies because it offers temporary coverage for a predetermined period of time and is more affordable for families on a budget.

A term life policy is often the choice when your life insurance protection needs are higher for a period of time, then drop down to lower levels in later years, such as when your children are grown up and on their own.

Low cost Term life insurance covers only a specific period of time before it terminates on the anniversary of the policy.

In term insurance, a pre-determined amount of money is paid to the nominee on demise of life assured during the policy period.

Moreover, the sum assured payable on death will not be reduced at any point of time during the term of the policy except where partial withdrawals have been made during the two - year period immediately preceding the death of the life assured.

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.

This a real life case where we saved our client, Terry Pate of Texas, $ 24,000 on his term life insurance policy over his 20 - year level term period by simply going a little further.

This policy, like all term life policies offered on our site, provides life coverage for a specific period of time (the term).

On the contrary, Extended Cover combines all the benefits and term & conditions of Standard policy along with the additional benefit to extending the life cover after the period of the policy ends.

Free - look Period: If you're unsatisfied with your life insurance policy's terms and conditions, and would want to cancel your policy, you can do this while the free - look period if going on without paying any penalties orPeriod: If you're unsatisfied with your life insurance policy's terms and conditions, and would want to cancel your policy, you can do this while the free - look period if going on without paying any penalties orperiod if going on without paying any penalties or fees.

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.

A term life insurance policy has a specific time limit on the coverage period.

Term Life with Accelerated Underwriting is convertible during the conversion period, which begins on the issue date of the policy and ends on the earlier of:

If a policy is renewable, this means the life insurance will continue to stay in force until the specified age listed on the policy which would be the anniversary of the end of the term period.

Due to the ease of the AARP term life insurance approval process, many of these policies can be issued and in force within a very brief period (and in some cases, policies can be issued on the very same day of application).

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.

For example, say that you've been paying $ 800 per year on a $ 500,000, 20 - year level term life policy and develop cancer near the end of the 20 - year period, thus making you uninsurable.

1If requested prior to the earlier of the end of the initial term period or the policy anniversary following the insured's 75th birthday, the policyowner can convert the term policy to the permanent life insurance policy that we make available for conversion on that date in the policy's state of issue.

The regulator has also asked the life insurers to report the matters on lapsations regularly to it,» The proceeds of the lapsed policies shall invariably be refunded to the policyholder after the expiry of the revival period or at any time after completion of 3 years term as and when demanded by the policyholder.

When a carrier offers a policy to you, they're essentially placing a bet on you to live past the term period of your policy.

Life insurance rates are based on your life expectancy, the face amount you request and the length of the policy, whether it's the duration of your life (permanent life) or a specific period (term liLife insurance rates are based on your life expectancy, the face amount you request and the length of the policy, whether it's the duration of your life (permanent life) or a specific period (term lilife expectancy, the face amount you request and the length of the policy, whether it's the duration of your life (permanent life) or a specific period (term lilife (permanent life) or a specific period (term lilife) or a specific period (term lifelife).

A Term Life policy pays a benefit to the beneficiaries only if the policy holder dies during the time period for which the policy was initially contracted and has remained current on their annual or monthly premium payments.

Term life insurance is purchased for a certain period, or «term,» such as ten years, 15 years, 20 years, or even for 30 years, depending on the policy holder's neTerm life insurance is purchased for a certain period, or «term,» such as ten years, 15 years, 20 years, or even for 30 years, depending on the policy holder's neterm,» such as ten years, 15 years, 20 years, or even for 30 years, depending on the policy holder's needs.

Even though the coverage on a cheap term life insurance policy runs out after a given period, these policies can be beneficial in certain situations.

Once the period of time has elapsed on a term life insurance policy, the plan will expire.

Term life policies are temporary and only cover the insured individual (s) on the policy for the duration of the term period, which can be as little as 3 months and as long as 5, 10, 15, 20, 25 or 30 yeTerm life policies are temporary and only cover the insured individual (s) on the policy for the duration of the term period, which can be as little as 3 months and as long as 5, 10, 15, 20, 25 or 30 yeterm period, which can be as little as 3 months and as long as 5, 10, 15, 20, 25 or 30 years.

Return of premium life insurance is a type of coverage that will return the premiums that were paid in for the coverage if the insured on the policy survives throughout the entire «term,» or time period, of the policy.

Especially if you are young, you could apply for a term life insurance policy now, then begin to work on lowering your cholesterol numbers and then apply for a more expensive (but longer benefit period) permanent policy once you improve your health condition.

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.

For a long period of time, the premiums on term life insurance policies were extremely low.

Free look In the event the policyholder disagrees with any of the terms and conditions of the policy, he / she may return the policy to the Company within 15 days of its receipt for cancellation, stating his / her objections in which case the company will refund an amount equal to the non allocated premium plus the charges levied by cancellation of units plus fund value as on the date of receipt of the free look cancellation request less proportionate risk premium for the period the company has been on risk, less the expenses incurred by the company on medical examination of the life assured and less the stamp duty charges..

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).

The best type of term life insurance for you depends on the period of time you for which you need to keep the policy.

Life insurance rates are based on your age, lifestyle habits, current health, medical history, and occupation at the time you apply for coverage, as well as the type of policy, the term period, and death benefit amount.

It is a good idea, however, to get a convertible term policy if you plan on owning life insurance for any extended period of time.