Sentences with phrase «permanent policy is purchased»

With a wealth replacement trust, an irrevocable life insurance trust is established at the time the second to die life insurance policy or permanent policy is purchased.

If a permanent policy is purchased they usually cease payment or make the employee take over payments on the policy at date of retirement or termination, but every company has it's own policy in terms of compensation.

Not exact matches

The first decision to make is whether you want to purchase a term or permanent policy.

Had the individual purchased permanent life insurance, he or she could have access to a potentially significant source of supplemental retirement income in the future (depending on the policy type), while preserving the death benefit in perpetuity (note, however, that the death benefit and cash value of a policy is reduced in the event of a loan or partial surrender, and the chance of lapsing the policy increases).

«A better alternative may be to purchase a permanent life insurance policy that accrues a cash value,» he explained.

If you're considering permanent life insurance, but are wary of the complexity of the policy and not interested in the cash value or investment benefits, guaranteed universal life insurance is a less expensive way to purchase nearly - lifelong coverage.

A permanent policy is also likely a better choice, as it can be incredibly difficult to purchase coverage after age 90 if you still have financial obligations.

Therefore, if you are on the younger end of the age spectrum, you might want to consider purchasing something that will be in place for longer, such as a 30 year term policy or permanent life insurance policy.

The answer is to purchase a permanent policy, naming yourself as the owner and your child as the life insured.

One way would be to purchase a permanent life insurance policy which would be given to the employee upon retirement, after a certain number of years with the company, or based upon a certain level of performance.

The opposing argument, that a permanent policy should be purchased, says that the life insurance on the trustmaker's life will continue to get more expensive.

These options have certain consequences that come into play so it's important to work closely with your life insurance agent if you plan on purchasing a permanent policy for your child to make sure you understand the ins and outs of your particular policy.

Though these can only be purchased as separate policies, guaranteed universal life insurance has little to no cash value, so it's considerably less expensive for permanent coverage than whole life insurance.

A permanent policy is also likely a better choice, as it can be incredibly difficult to purchase coverage after age 90 if you still have financial obligations.

If you're considering permanent life insurance, but are wary of the complexity of the policy and not interested in the cash value or investment benefits, guaranteed universal life insurance is a less expensive way to purchase nearly - lifelong coverage.

Life insurance can be purchased either as a permanent policy, covering your entire lifetime, or as a term policy, covering a certain period of time — anywhere from a year to 30 years.

They may also be used by those who would like to purchase a permanent life insurance policy, but are not able to do so immediately for various reasons.

You can often save money by purchasing a joint life insurance policy for yourself and your spouse, but this is often only available as permanent coverage.

Joint life insurance policies are typically a cheaper option than purchasing separate permanent life insurance policies since:

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.

There are many insurance and financial professionals who suggest that those who purchase a Term Life policy can make up for the investment component of a Permanent Life insurance policy by investing the cost savings between the two on their own.

Any sibling who shares a permanent residence with another and might be excluded from their renters insurance policy should purchase their own.

For instance, those who are crazy enough to purchase a permanent life policy for the stable returns should just create a portfolio with 80 - 90 % bonds like the insurance company does.

When purchasing a final expense life insurance policy, it is important for an applicant to determine the type of coverage that they need — term versus permanent — as well as the amount of coverage that will be appropriate for their specific needs.

So, the point is that when using a properly designed permanent life insurance policy to build up cash value AND using policy loans effectively to fund other ventures, or even your home or vehicle purchases, you can achieve financial independence.

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.

If you've been thinking about purchasing a life insurance policy, you've probably noticed that there are two main kinds of life insurance: term and permanent.

It's important to review your financial situation with a professional before purchasing a permanent policy.

You will do best to purchase a permanent policy while you are young so that you can lock in low rates and retain those rates for the rest of your life.

That's why when purchasing a term policy, it's never a bad idea to find out what kind of permanent policies are offered by the company you are considering.

An elderly man purchased a permanent policy when he was working to protect his family.

With rate guarantees preventing insurers from increasing the rates of existing policy holders, many Canadian insurers have been forced to increase the cost of new permanent life insurance purchases by up to 50 %, and more increases are likely.

Estate tax planning should not be overlooked because there are many techniques available to reduce estate taxes, such as holding assets in joint ownership, establishing testamentary trusts, and the purchasing of permanent insurance policies to cover estate income taxes.

However, with the cost for new purchases of permanent life insurance products rapidly increasing, fewer customers will be interested in cancelling their existing policy in favor of alternatives.

Also, if the coverage is convertible (the coverage can be «converted» to a comparable permanent life insurance policy, without the need to provide evidence of insurability), you can get the coverage you need today — with the ability to purchase permanent insurance coverage in the future.

That's why when purchasing a term policy, it's never a bad idea to find out what kind of permanent policies are offered by the company you are considering.

Permanent life insurance is a policy that can be purchased at any time throughout your life and will provide coverage for the remainder of your life, as long as your premiums continue to be paid.

The key thing to understanding when buying a permanent life insurance is why are you purchasing the policy.

There are times when an employer / corporation purchases a permanent policy with an employee / shareholder and enters into a contractual arrangement that lays out how premiums will be paid.

While ordinary Permanent Life insurance is typically purchased in much larger benefit amounts (i.e. six - figures or more), a Final Expense policy tends to be issued in face amounts of $ 2,000 to $ 50,000 (these amounts vary, depending on the insurer).

Regardless of whether you go with a term or a permanent policy, when you purchase a no medical exam plan, it will be important that you know several things about your coverage.

Executive Bonus Life Insurance — An employer purchases a policy and pays the premium for permanent life insurance policy which is owned by the executive for whom the policy was purchased.

Any sibling who shares a permanent residence with another and might be excluded from their renters insurance policy should purchase their own.

Buying term and invest the difference means you will use an amount equivalent to what it will cost to purchase a permanent life insurance plan, and then compare this to the expense of a term policy for a similar face amount covering the time period it is required.

If you reach the cutoff age for a term policy, then there are permanent insurance choices you can purchase, like whole life policy, universal life insurance or even burial insurance which is worth it when you only need coverage for final expenses.

Dividends can be used in several ways, including purchasing additional life insurance coverage, adding to the cash value component of a permanent life insurance policy, or receiving directly in cash.

One of the best ways to avoid this type of expiration is to purchase a permanent life insurance policy.

Final expense policies are a smaller amount of permanent life insurance (typically $ 5,000 - $ 40,000) that you can purchase to give your family the protection that they need to cover the funeral and all other related costs.

Unlike whole life insurance, which is considered a type of permanent life insurance, level term policies will eventually come to an end at a specific amount of time based on the policy you purchase.

Premiums for survivorship life policies are almost always less expensive than if the same two people purchased separate permanent life policies.