Sentences with phrase «permanent life insurance policies allow»

Some permanent life insurance policies allow for loans against the insurance policy - in the case of any outstanding loans, the death benefit is paid to beneficiaries less any outstanding loan balance.

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).

Most permanent life insurance policies allow you to take partial withdrawals or policy loans to pay for health care and other expenses.

A permanent life insurance policy allows you to access or borrow funds from cash value.

A permanent life insurance policy allows you to first of all, accumulate money in a cash value accumulation plan which has conservative but steady growth.

Not exact matches

Convertible term life insurance allows you to extend the life of your policy by converting it to a permanent life policy.

When cash value accumulates inside a permanent life insurance policy, tax advantages are allowed under current rules because it is a life insurance policy.

AUL's term life insurance includes a conversion option that allows the insured to convert all or a portion of the policy to permanent coverage.

In addition, convertible term life insurance allows you to convert all or a portion of your face amount to a permanent policy.

The term conversion rider, normally built - in to every life insurance policy, allows you to convert a term life insurance policy into a permanent life insurance policy without having to take another medical exam.

A type of permanent life insurance policy that allows you to modify your payment.

Conversion Benefit TruStage Term Life Insurance policies have a conversion privilege allowing you to switch all or some of your coverage to a permanent life policy, regardless of your heaLife Insurance policies have a conversion privilege allowing you to switch all or some of your coverage to a permanent life policy, regardless of your healife policy, regardless of your health.

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.

Legislation allows investments within permanent life insurance policies to grow without any tax consequences, as long as it remains under the maximum tax - exempt amount.

Most term life insurance policies allow you to convert your term policy into a permanent life insurance policy such as whole life insurance.

If your term policy allows you to convert you can choose to option your rider and convert all or a portion of your death benefit to permanent life insurance.

Granted, term life insurance typically has a conversion option, which will allow you to convert your policy to a permanent life insurance.

Ameritas» Keystone term policy is convertible term life insurance which allows the insured to convert all or a portion of the policy to permanent coverage.

The policy is convertible term life insurance, which allows you to convert to one of Prudential's permanent policies by the end of the term or age 65, whichever is first.

Permanent life insurance policies can include provisions, sometimes referred to as «riders,» that allow the insured to essentially increase his or her coverage over their lifetime.

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 time.

The policy is convertible term life insurance, which allows you to convert your term policy to permanent coverage.

Thus, at a minimum, we suggest that «convertible term life insurance» is purchased which allows the policy to be converted into a permanent life insurance policy.

Universal life insurance is designed to offer many of the same benefits as traditional permanent * life insurance policies such as whole life, but offers more flexibility that allows you to adjust your premiums and coverage as your needs change.

Many, but not all, term life insurance policies include a provision that allows policyowners to convert to a permanent policy at some point during the policy's term.

Term conversions allow you to convert to a permanent life insurance policy with no evidence of insurability.

It allows the term policy to be converted over to a whole life insurance (permanent) policy, forgoing a new medical examination.

Also, the insured may also wish to take advantage of the conversion option, which can allow him or her to convert the term policy over into a permanent form of life insurance coverage.

Converting a term policy over into a permanent form of coverage can allow an insured to obtain life insurance protection for life — regardless of future age increases and the possibility of contracting an adverse health condition.

Penn Mutual's convertible term life insurance allows the insured to convert all or a portion of the policy to permanent coverage prior to the end of the term or age 70.

A type of term insurance that allows you to exchange the term insurance policy for a permanent life insurance policy (whole or universal) without having to take a new medical exam.

Variable Universal Life insurance is a flexible premium, permanent life insurance policy that allows you to have premium dollars allocated to a variety of investment options, offering varying degrees of risk and rewLife insurance is a flexible premium, permanent life insurance policy that allows you to have premium dollars allocated to a variety of investment options, offering varying degrees of risk and rewlife insurance policy that allows you to have premium dollars allocated to a variety of investment options, offering varying degrees of risk and reward.

This allows you to convert a little or even as much as the entire policy amount to permanent life insurance if you still need coverage down the road.

A permanent life insurance policy with a cash value allows the lender access to the cash value to use as loan payment if the borrower were to default.

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 time.

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.

A universal life insurance policy, also known as a permanent policy, is a flexible type of life insurance that allows the policyholder to adjust the premium and amount of coverage.

Variable Universal Life insurance is a flexible premium, permanent life insurance policy that allows you to have premium dollars allocated to a variety of investment options, offering varying degrees of risk and rewLife insurance is a flexible premium, permanent life insurance policy that allows you to have premium dollars allocated to a variety of investment options, offering varying degrees of risk and rewlife insurance policy that allows you to have premium dollars allocated to a variety of investment options, offering varying degrees of risk and reward.

The policy is also convertible term life allowing you to convert all or a portion of the policy into permanent life insurance, such as universal life.

A permanent life insurance policy with a specific cash value allows the lender access to that amount as repayment of the loan if the borrower were to default.

This valuable feature allows you to convert your term policy to a permanent policy (e.g., whole life insurance) without submitting evidence of insurability.

Rather than go the route of ART, the conversion option allows you to convert to permanent life insurance before the end of the 20th policy year or age 70, whichever comes first.

Banner's OPTerm series also allows you can convert your term life insurance insurance policy to permanent insurance with no evidence of insurability.

Universal life insurance is a flexible permanent coverage option that allows premium payments to increase or decrease, assuming you have enough cash value in your policy to meet your monthly premium charge.

Attaching a term life policy to an existing whole life product can specifically allow for it to pay the capital gains tax on the permanent insurance at benefit payout.

This allows the insured to convert the term policy over into a permanent form of life insurance — such as whole life or universal life — at a future time.

Also, with most term life insurance policies there is a conversion option which allows you to convert the policy to a permanent policy with no proof of insurability (meaning you don't need to take another exam).

Term life insurance can be contrasted to permanent life insurance such as whole life, universal life, and variable universal life, which guarantee coverage at fixed premiums for the lifetime of the covered individual unless the policy is allowed to lapse.

Many term life insurance policies have a built - in feature that allows you to easily switch a term life policy to a permanent one, usually with no medical exam and no hassle.

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).