Not exact matches
In other words, if you have a term policy and you get sick or injured in a way that would prevent you from being insurable, you can convert to a permanent life insurance policy without taking a medical exam or answering health questions and keep the life insurance coverage the rest of your lif
In other words, if you have a term
policy and you get sick or injured
in a way that would prevent you from being insurable, you can convert to a permanent life insurance policy without taking a medical exam or answering health questions and keep the life insurance coverage the rest of your lif
in a way that would prevent you from being insurable, you can convert to a
permanent life insurance
policy without taking a medical exam or answering health
questions and keep the life insurance coverage the rest of your life.
The next
question we ask is, if we want
permanent life insurance (i.e. insurance forever) is it cheaper to lock
in a
permanent life insurance
policy now, or buy a less expensive term
policy to save premiums initially then change to a
permanent policy later?
This gives you the right to «trade
in» your term
policy for a
permanent one — with no medical exam or health
questions.
In cases like these that have the potential to become more complicated later on down the road, many times the «business» will elect to take out a permanent cash value life insurance policy, such as indexed universal life, on the individuals in question rather than try to make predictions on which term length would be most appropriat
In cases like these that have the potential to become more complicated later on down the road, many times the «business» will elect to take out a
permanent cash value life insurance
policy, such as indexed universal life, on the individuals
in question rather than try to make predictions on which term length would be most appropriat
in question rather than try to make predictions on which term length would be most appropriate.
If you answered yes to any of these
questions, then a whole life insurance
policy may meet your needs for locking
in permanent coverage and benefits for the future.
The two main reasons you might not want to change
policies are surrender charges (only
in permanent plans such as whole life or universal life), and your new
policy will likely contain a new two year contestable period, which means the company could potentially weasel out of paying the life insurance proceeds upon your death if you die within 2 years of purchasing the
policy and they find that you answered
questions fraudulently on your application.
The next
question we ask is, if we want
permanent life insurance (i.e. insurance forever) is it cheaper to lock
in a
permanent life insurance
policy now, or buy a less expensive term
policy to save premiums initially then change to a
permanent policy later?
If you have a term life
policy or you're interested
in getting one to convert to
permanent life eventually, here are some
questions to ask: