Sentences with phrase «policy upon expiration»

Not exact matches

Where the policy really shines is that upon the expiration of the term, the coverage continues at the same premium.

Term life coverage means that the face value of your policy will be paid to your beneficiary if you die within the term period and not afterward — unless the term policy is renewed upon its expiration, which almost always means higher premiums.

Upon expiration of the term, the policy may offer the option of converting to permanent life insurance.

This is especially the case with term life coverage, as these types of policies have an eventual expiration date upon which coverage will need to be re-qualified for.

Although an owner's choice to take a withdrawal from a policy may impact the benefit amount dispensed to beneficiaries upon the expiration of the insured, beneficiaries can neither prevent an owner from taking a policy loan nor compel him to pay back the funds withdrawn.

Upon expiration of the term, the policy ends.

If a term life insurance policyholder wishes to continue their coverage upon the policy's expiration, they will need to re-apply at their current age and health condition.

Term life coverage means that the face value of your policy will be paid to your beneficiary if you die within the term period and not afterward — unless the term policy is renewed upon its expiration, which almost always means higher premiums.

Upon expiration of the term, the premiums for the coverage will typically skyrocket, so that the policy will not longer be practical to maintain and a new term policy may be needed.

an insurance policy that provides coverage for a limited period, the value payable only if a loss occurs within the term, with nothing payable upon its expiration.

Another benefit to term life insurance is that upon expiration the policy can be renewed annually.

If you are required to maintain Flood Insurance, then you must provide your loan servicer with evidence of this coverage and ensure that this policy is renewed upon expiration.

You must provide your loan servicer with a copy of your Hazard Insurance policy and ensure that the policy is renewed upon expiration.