Sentences with phrase «permanent life insurance owners»

However, most existing permanent life insurance was issued under «old» mortality tables with a maximum age of 100 (or even age 96), which means most permanent life insurance owners still have to contend with the possibility that they can actually outlive their life insurance... and face the tax consequences that come with it!

Not exact matches

People who need permanent life insurance protection but wish to take advantage of possible cash accumulation via an equity index might use IULs as key person insurance for business owners, premium financing plans or estate - planning vehicles.

Best option: Term life or permanent life insurance depending on your goal as a business owner.

Even with permanent life insurance, the problem with the approach of cancelling one policy and starting a new one with a different life insurance company may cause the owner of the policy to pay penalties and taxes that would otherwise have been avoided.

And in most instances the plans are referring to permanent life insurance plans that provide cash value to the owner.

Dividend paying whole life insurance is a permanent life insurance policy where the insurance provider offers a return of premium to the policy owner in the form of a dividend.

Flexible Premium Policy: A type of permanent life insurance policy in which the policy owner may vary the amount or timing of premium payments.

Flexible Premium Variable Life Insurance: A type of permanent life insurance policy in which the policy owner may vary the amount or timing of premium paymeLife Insurance: A type of permanent life insurance policy in which the policy owner may vary the amount or timing of premium Insurance: A type of permanent life insurance policy in which the policy owner may vary the amount or timing of premium paymelife insurance policy in which the policy owner may vary the amount or timing of premium insurance policy in which the policy owner may vary the amount or timing of premium payments.

Life insurance proceeds are almost never taxed, but there are a few cases in which owners of permanent insurance policies will see Uncle Sam take a little bit of money off the top.

Permanent life insurance policies don't work the same as term policies — they're able to build cash value over time as the policy's owner makes payments.

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 type of Permanent Life insurance that gives the policy owner flexibility with regard to the face amount and premium amounts, which can be modified to respond to changing needs and circumstances.

Whole life insurance defined: A whole life policy is a type of permanent life insurance where a contract is entered into between the policy owner and insurer, for a policy, which covers the life of the insured, for a specified insurance coverage amount, for the benefit of a beneficiary.

A convertible term life insurance policy can be converted by the owner into a permanent life insurance policy during a specific period of time, without requiring an exam or proving the insured is healthy.

On the other hand, many owners of permanent life insurance policies can't afford them, and end up surrendering the policy (and the cash value) prematurely.

A type of permanent life insurance that gives the policy owner flexibility with regard to the face amount and premium amounts.

For permanent life insurance, some policies contain investment options that can pay out dividends to owners, which can thereby reduce the cost of the premium.

The other main kind of life insurance is permanent life, which builds up cash value that policy owners can borrow against and eventually use to cover premiums for the rest of their lives.

A type of Permanent Life insurance that gives the policy owner flexibility with regard to the face amount and premium amounts, which can be modified to respond to changing needs and circumstances.

However, term life insurance generally comes with a conversion option which allows the owner to convert the policy into permanent insurance with no proof of insurability.

Unlike term life insurance policies, which do not build a cash value and always have a level death benefit, permanent life insurance policies allow the owner to select a level or increasing death benefit (sometimes called option 1 or option 2).

Flexible Premium Variable Life Insurance: A type of permanent life insurance policy in which the policy owner may vary the amount or timing of premium paymeLife Insurance: A type of permanent life insurance policy in which the policy owner may vary the amount or timing of premium Insurance: A type of permanent life insurance policy in which the policy owner may vary the amount or timing of premium paymelife insurance policy in which the policy owner may vary the amount or timing of premium insurance policy in which the policy owner may vary the amount or timing of premium payments.

If an owner is using life insurance to buy out the partner in case he or she dies, permanent insurance like whole life or universal are likely the best choices to consider.

The owner is also the person who can make changes to the policy and take cash out of the policy (if it is permanent life insurance that allows that feature).

The owner can convert an existing policy into a permanent life insurance policy we offer, and we will always offer at least one permanent product for conversion.

The traditional permanent or whole life insurance ensures the policy owner of minimum returns on the cash value.

A business owner with permanent life insurance can use their death benefit to help ensure that the lights stay on long after their gone, but it can do more than that too.

There are myriad justifications for business owners to purchase permanent life insurance as it can help provide security for the company they've spent years building.

Flexible Premium Policy: A type of permanent life insurance policy in which the policy owner may vary the amount or timing of premium payments.

High net worth individuals and business owners will often use permanent life insurance plans to account for estate taxes as well as business succession planning.

A conversion option is typically included and allows the owner of the term policy to covert all or a portion of the term into permanent coverage, such as universal life insurance, without proof of insurability — that means no health questions or medical exam.

Here are 3 common situations that Whole Life insurance policy owners should think about before replacing their permanent policy with Term coverage.

A conversion option is a life insurance rider that allows the owner to convert all or a portion of the term coverage into a permanent life insurance policy.

In addition, a term to 70 policy may offer the option of convertibility which means the policy owner may convert the term insurance into a permanent life insurance policy for a higher annual premium.

which means the policy owner may convert the term insurance into a permanent life insurance policy for a higher annual premium.

Permanent life insurance provides coverage for a policy owner's entire life.

Best option: Term life or permanent life insurance depending on your goal as a business owner.

With permanent life insurance coverage, though, as long as you don't let your policy lapse, your premiums are guaranteed not to increase for the rest of the owner's life.

While policy owners are allowed to withdraw funds from the cash value component of a permanent life insurance policy — subject to the amount of the available funds that are in the account — a withdrawal that exceeds the amount of cumulative premiums that have been deposited can be taxed.

Permanent life insurance policies don't work the same as term policies — they're able to build cash value over time as the policy's owner makes payments.

A term life insurance conversion allows the policy owner to convert their term life insurance into a permanent policy with NO evidence of insurability.

Life insurance proceeds are almost never taxed, but there are a few cases in which owners of permanent insurance policies will see Uncle Sam take a little bit of money off the top.

Because there may be an undetermined amount of time in which the current owner will stay as a partner or shareholder, it is best to use permanent coverage to avoid any chances of lapsing where the life insurance wouldn't have the opportunity to take effect as planned.

Participating life insurance is a permanent coverage which allows policy owners to earn dividends and accumulate cash value on a tax - preferred basis.

The owner of the policy can convert the coverage to permanent life insurance with no medical exam or health questions.

Most 10 year term life insurance policies are also convertible, allowing the policy owner to convert to permanent life insurance, without a medical exam.

This means that the policy's owner has the right to change it into a permanent type of life insurance without additional evidence of insurability.

Dear Cindylou, Yes, as the «owners» of the policies, you and only you have the right to borrow from the cash value — the reserve that builds up in permanent life insurance, such as whole life.

Guaranteed Insurability Rider DEFINITION: an optional rider attached to permanent life insurance policies that allows the owner to elect to purchase additional life insurance death benefit coverage periodically at certain attained ages, or alternatively, upon certain special occasions such as marriage and the birth of a child.

Business owners looking to fund buy - sell agreements with life insurance should consider permanent coverage, such as Universal Llife insurance should consider permanent coverage, such as Universal LifeLife.