Sentences with phrase «permanent life policies because»

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.

Not exact matches

By eliminating state laws, policies, practices and procedures that exclude potential adoptive and foster parents because of their sexual orientation, gender identity, or marital status this bill will dramatically increase access to permanent, loving homes for children living in foster care.

If you're looking for a set premium because you have a budget or don't trust yourself to invest wisely, whole life may be the best permanent life insurance policy for you.

Guaranteed universal life is arguably the most popular product for second to die because these policies are set up to offer an inexpensive permanent death benefit, which is a key part of the second to die policy appeal.

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

Term life insurance is not available as a standalone policy on children (because the term would likely be over by the time they needed income replacement for their own families), but a permanent policy will last their lifetime so long as the premiums are paid.

However, if you need more life insurance and have since developed health issues, converting to permanent will likely be cheaper than applying for a new term policy altogether because at that point your health will be taken into consideration.

Many people choose permanent life, in part because the primary purpose of the ILIT is to transfer wealth to your heirs, which will only happen if the policy is still in force at the time of your death.

Variable Life: This is called a variable plan because there are two separate accounts created, one being the permanent policy and the other being the investment fund, which is invested in bond funds, equity funds or money market funds, as per the company's investment portfolio.

However, this is primarily because a portion of the premium on permanent life insurance policies is going into the cash value component.

Jeremy Hallett, founder of online insurance marketplace Quotacy, said in an interview that premiums are typically 10 times higher for whole life policies than they are for term life policies with the same death benefit because permanent insurance provides coverage for life with guaranteed level premiums.

«Sometimes, term life insurance is the only viable solution initially because of minimal cash flow, but if you have a convertible policy, you can potentially convert it into permanent life insurance over time.»

If you want continued protection, though, a term conversion rider lets you convert a term life insurance policy into a permanent policy without taking another paramedical exam — a welcome adjustment, because taking an exam when you're old enough for your term policy to have expired would likely make the premiums prohibitively expensive.

Guaranteed universal life insurance is similar to whole life insurance because it is also considered a permanent policy, meaning it is supposed to last the entire life of the policy holder.

Because this is a permanent life insurance policy, once the individual has been approved for coverage, the policy can not be canceled, unless the premium is not paid.

With term life, there is death benefit protection only, with no cash value build up — and because of that, term life insurance can frequently cost less than a comparable permanent life insurance policy (all other factors being equal).

Because of that, permanent life insurance policies are often used as financial planning tools that can serve many more purposes than just simply paying out a death benefit.

Mutual life insurance companies are preferable when researching the ideal permanent life insurance for infinite banking in our humble opinion because they are owned by the policy holders, rather than the public shareholders.

A common objection is that using permanent life insurance in this way isn't an efficient approach for real estate investors because the policy costs money upfront and is therefore too expensive.

Because permanent life insurance is a lifelong life insurance policy, a good time to purchase life insurance is when you are doing your financial planning, and when you are considering ways to create financial security in your retirement years.

Permanent policies like whole life, on the other hand, cost more because they include an extra savings component, which is referred to as the «cash value.»

The analogy only goes so far because one distinct advantage with permanent life insurance you can take out a policy loan whenever you choose, no questions asked.

Because the policy is a permanent life insurance policy, it will also have cash value build up.

A Guaranteed Universal Life Insurance policy is a more affordable permanent life insurance product because it doesn't include the investment aspect of most permanent produLife Insurance policy is a more affordable permanent life insurance product because it doesn't include the investment aspect of most permanent produlife insurance product because it doesn't include the investment aspect of most permanent products.

Policies like this are popular because they are permanent and let you have level premiums for the rest of your life.

This is also referred to as «Term for Life» insurance because it is a permanent life insurance policy that has level premiums for the rest of your lLife» insurance because it is a permanent life insurance policy that has level premiums for the rest of your llife insurance policy that has level premiums for the rest of your lifelife.

A whole life policy is the most straightforward permanent policy because everything is fixed and guaranteed — the annual price you pay, the death benefit and the return on cash value.

These permanent life insurance options are significantly more expensive than most other policies because the company will inevitably wind up having to pay out, unless the covered individual happens to cancel or cash in their policy.

Because of that, term life will frequently be cheaper than a permanent policy, with all other factors being equal.

The reason for this is quite simple it's because a no lapse universal life also known as guaranteed universal life offers the most affordable permanent life insurance protection with a guarantee that your policy won't lapse if you pay your premiums regardless of how the market is performing.

Because there aren't a lot of «bells and whistles» on term life insurance coverage, the premium cost for these policies will typically be less than that of a comparable permanent life insurance policy — with all other factors being equal.

This is because these life insurance policy types are issued to people who would not qualify for a fully underwritten term life insurance policy or a permanent life insurance policy.

Permanent policies are completely different from Term Life because it provides cash value in addition to a death benefit.

This is because a term life insurance policy has a specific end date and a permanent policy does not.

In most cases, term life insurance is not subject to Federal income tax, state income tax, or estate / inheritance taxes, and because it lacks the whole cash value of a permanent policy is also generally not subject to capital gains tax.

Taxes and Variable Universal Life Because it is a permanent life policy, VUL provides tax - deferred cash value and loan withdrawals - within certain limits - against the cash vaLife Because it is a permanent life policy, VUL provides tax - deferred cash value and loan withdrawals - within certain limits - against the cash valife policy, VUL provides tax - deferred cash value and loan withdrawals - within certain limits - against the cash value.

And, because this is a permanent life insurance plan, the policy will also build up tax - deferred cash value which can be withdrawn or borrowed for any need or want.

Because the odds are high that you will in fact live past when the term expires, these policies are much less expensive than «permanent» life insurance policies that never expire.

Permanent life insurance is more expensive because of the cash value accumulation feature and can easily cost 10 times more than what you would pay for a term policy.

Some permanent life insurance products cost significantly more than a guaranteed universal life policy, because a good amount of the premium is going towards building up cash value in the policy.

Others buy whole life because they want a permanent policy and can afford higher premiums.

Because these plans are permanent coverage, they are going to be more expensive than term life insurance policy, but there are still several ways that you can get an affordable whole life insurance policy for your family.

Because of their permanent protection, these policies tend to have a much higher initial premium than other types of life insurance.

Penn Mutual's Guaranteed Protection Universal Life: this GUL policy offers the benefits of a permanent life insurance death benefit protection and affordability, but with cash value growth, because life is uncertLife: this GUL policy offers the benefits of a permanent life insurance death benefit protection and affordability, but with cash value growth, because life is uncertlife insurance death benefit protection and affordability, but with cash value growth, because life is uncertlife is uncertain.

It is also sometimes referred to as term for life because it is a permanent life insurance policy that will maintain level premiums for the remainder of your lifetime.

Because it is a permanent plan, this policy offers life insurance coverage, along with cash value build up.

Generally, whole life, universal life and variable life insurance policies are considered permanent life insurance policies because they remain in force until you stop paying the premiums or pass away.

Because permanent life insurance is more complicated, buyers work with a financial professional to choose and maintain a policy.

A permanent policy, like whole life, might make sense if both an investment (because you've maxed out other tax - effective accounts) and a life - long insurance need is present.

This type of policy is also referred to as term for life, because it is a permanent life insurance policy that will maintain level premiums for the rest of your life.