Sentences with phrase «policy conversion option»

Term life insurance products usually come with policy conversion options.

Depending on the company and policy coverage rules, most life insurance policy conversion options are terminated or discontinued after age 70.

Policy conversion options come with the risk of extra fees, conditions as well as requests for more information or having to take a medical examination.

Not exact matches

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.

Term conversion rider is a flexible way to buy a cheaper option with the availability of converting it to permanent insurance policy down the road.

The conversion option allows you to convert all or a portion of the death benefit to a permanent policy.

Her policy does include a term conversion option; however, Eliza is now at a healthy weight, has normal blood glucose levels, and her risk of diabetes complications is much lower.

Alternatively, the owner may choose to exercise a conversion option if the policy is convertible term life insurance.

Because her policy has a term conversion option, her medical diagnosis does not matter since she does not have to prove insurability.

The primary benefit of a conversion option attached to term life is that the insured can convert the policy without proof of insurability.

A conversion option allows you to convert all or a portion of your policy to permanent coverage with no evidence of insurability.

Check with your agent about your policy's conversion options.

However, nearly every life insurance company offers the option of conversion to a whole life insurance policy with several times the amount of coverage.

If you have to choose a term life policy, then make sure it has a conversion option included.

It should be noted that MassMutual's term life insurance policy provides a conversion option.

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

Luckily, most term life policies come with a standard conversion option that turns it into a whole life policy, which lasts as long as you need it.

Having a conversion option means that if you decide you want permanent life insurance, you can convert regardless of your health as long as you convert before the deadline on your policy.

If there were no conversion options, your term policy would expire, and you'd be left with no coverage.

There are benefits like conversion options that could be poor or non-existent for some term life insurance policies.

He was ready to give up but then remembered that his current term policy had a conversion option, which meant that he could convert all or part of his existing policy to a permanent plan with no evidence of insurability.

Insurance companies that provide the conversion option with their term policies will provide at least one permanent product to convert to.

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.

The conversion option is a valuable addition for many reasons, and if you are in the market for a term life policy, you should check to be sure it includes this option.

The term policy must also include the Extended Conversion Agreement, which allows the term insurance conversion option to extend to the full duration of the term or to age 75.

And if you need term, a term life insurance policy from Penn Mutual offers a conversion option to one of its exceptional permanent policies.

The primary life insurance advantage of a conversion option is that you can get a lot of coverage for a low cost while your income is lower, and then convert that coverage to a superior permanent policy down the road once you become more financially sound.

Basic term life conversion option is for someone who has no plans to convert their policy and just wants the inexpensive death benefit protection term offers.

Most term policies include a conversion option and allow you to convert to a permanent policy regardless of your health as long as you do so before the deadline on your current policy.

Term conversion is another rider that gives you the option to convert your term policy to a permanent (whole life) policy.

You could, however, switch into one of these whole life policies without proving good health, a feature called a «conversion option».

The conversion option is available for the first 15 years of the policy.

Most companies have a conversion option included in the policy for free.

The conversion option on the Select - A-Term policy does not require that the insured take a medical examination to qualify, nor will he or she have to prove evidence of insurability to move forward with the plan's conversion.

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.

If your insurance needs are long - term or you are unsure, buy a term policy with a conversion option to a permanent policy such as Universal Life or Whole Life.

We will be happy to research the policy and explain your options for a term life insurance conversion or new coverage.

One way to mitigate some of that risk is by selecting a policy with a conversion option.

There are term life policies that have conversion options that allow you to convert your term policy over to a permanent policy.

When deciding on the pros and cons of term life insurance versus whole life insurance, one thing to be aware of is that many term life insurance policies have a conversion option.

Most term life insurance policies automatically include a conversion option, which is the option to convert your term policy to a permanent life insurance policy, within policy specifications.

Insurance companies that provide the conversion option with their term policies will provide at least one permanent product to convert to.

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.

Another option is to lock into a term policy that has a conversion option.

Having the conversion option could make the policy more expensive but some companies life William Penn, Banner Life and MetLife policies include the right to convert without additional costs.

Many consumers call us to find out what their conversion options are and many even ask us: «Should I convert my term life insurance policy?»

The other options are to replace your policy before the term ends, or use a term conversion.

The key advantage of the conversion option is that when exercised, the new universal life policy will be issued at the same underwriting class as your existing term.

Numerous policy options: Additional policy options are available to State Farm customers, including term conversion options and survivorship options.

Like Term Essential, Term Elite policies are offered in 10, 15, 20 or 30 year terms, are customizable and allow policyholder conversion options.