Sentences with phrase «portions of the term life policy»

This typically allows you at any time (usually up to age 70) to convert any portion of your term life policy into a permanent policy.

Not exact matches

This rider adds to the cost of your premiums but ensures that you'll receive a portion or the sum of premiums paid if you live past the term of the policy.

This rider adds to the cost of your premiums but ensures that you'll receive a portion or the sum of premiums paid if you live past the term of the policy.

With most term life insurance policies, the death benefit — the portion of money that's paid out to beneficiaries — works the same way.

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.

Life insurance classified as return of premium (ROP) features a return of premiums paid to purchase coverage if the insured outlives the term of the policy, or payment of some portion of premiums paid to the beneficiary upon the insured's death.

In addition, convertible term life insurance allows you to convert all or a portion of your face amount to a permanent policy.

The policy is convertible term life insurance, which allows the owner of the policy to convert all or a portion of the coverage to whole life insurance coverage before the term policy expires or age 65.

Put a portion of the money towards your first life insurance premium - If you get a term life policy you should have money left over.

If your term policy allows you to convert you can choose to option your rider and convert all or a portion of your death benefit to permanent life insurance.

Ameritas» Keystone term policy is convertible term life insurance which allows the insured to convert all or a portion of the policy to permanent coverage.

The life insurance companies also offer solutions such as chronic illness riders AND long term care riders, which allow a portion of the policy death benefit to be used for long term care costs while also preserving a portion of the death benefit coverage.

Minnesota Life's convertible term life insurance includes the option to convert all or a portion of the policy to permanent coverage prior to the end of the tLife's convertible term life insurance includes the option to convert all or a portion of the policy to permanent coverage prior to the end of the tlife insurance includes the option to convert all or a portion of the policy to permanent coverage prior to the end of the term.

Penn Mutual's convertible term life insurance allows the insured to convert all or a portion of the policy to permanent coverage prior to the end of the term or age 70.

Premiums are often much higher than a term life insurance policy with the same amount of coverage because you're paying for an insurance policy as well as putting money into the cash value portion of the policy.

For example, if you only need to carry a high level of life insurance for 10 years, yet you want to carry life insurance for your whole life, they may suggest taking a 10 year term for the portion of money you think you need for that limited time, and a smaller value in a whole life policy.

Trendsetter Term Policy with «Living Benefits» offers high levels of term life insurance protection, and adds a «living benefit» that allows you to potentially access a portion of your policy benefit while you're still alive if you're diagnosed with a qualifying chronic or critical illness; or a terminal illnTerm Policy with «Living Benefits» offers high levels of term life insurance protection, and adds a «living benefit» that allows you to potentially access a portion of your policy benefit while you're still alive if you're diagnosed with a qualifying chronic or critical illness; or a terminal ilPolicy with «Living Benefits» offers high levels of term life insurance protection, and adds a «living benefit» that allows you to potentially access a portion of your policy benefit while you're still alive if you're diagnosed with a qualifying chronic or critical illness; or a terminal ilLiving Benefits» offers high levels of term life insurance protection, and adds a «living benefit» that allows you to potentially access a portion of your policy benefit while you're still alive if you're diagnosed with a qualifying chronic or critical illness; or a terminal illnterm life insurance protection, and adds a «living benefit» that allows you to potentially access a portion of your policy benefit while you're still alive if you're diagnosed with a qualifying chronic or critical illness; or a terminal illiving benefit» that allows you to potentially access a portion of your policy benefit while you're still alive if you're diagnosed with a qualifying chronic or critical illness; or a terminal ilpolicy benefit while you're still alive if you're diagnosed with a qualifying chronic or critical illness; or a terminal illness.

The good news is, some companies will credit you for a portion of the premiums you paid into your term life insurance policy and carry it over when you decide to convert to assist the cash value accumulation.

Both the indexed universal life insurance and the term life insurance policies typically include an accelerated death benefit so that a large portion of the death benefit can be paid to the policyholder in the event of a terminal illness.

Universal life insurance will also be more expensive than term life because of the investment portion of your payments for this kind of policy.

The policy is also convertible term life allowing you to convert all or a portion of the policy into permanent life insurance, such as universal life.

This one differs from the term life policy in that a portion of the premium covers the cost of the insurance and goes toward a savings account.

A term life policy can leave you with nothing after 20 years of premiums (other than your health, obviously), so some like the option of cashing out a whole life policy early for a portion of the complete death benefit should they want or need the money.

When a customer balks at a quote for cash - value life, agents will use a technique called blending to substitute (or blend in) convertible term life for a portion of the permanent life policy.

Premiums are often much higher than a term life insurance policy with the same amount of coverage because you're paying for an insurance policy as well as putting money into the cash value portion of the policy.

Also, consider adding policy riders that will allow you to access the policy death benefit in the event of a terminal illness or even convert a portion of your term policy into a permanent policy (such as whole life or universal life).

With an ADB rider, you can generally get a portion of the death benefit of your life insurance policy to help offset costs associated with a chronic illness or terminal medical condition, and costs for long - term care.

This rider adds to the cost of your premiums but ensures that you'll receive a portion or the sum of premiums paid if you live past the term of the policy.

Accelerated Death Benefit: A benefit attached to most term life policies for no additional fee that will pay out a portion of the death benefit while you are still living and diagnosed with a terminal illness, each benefit is different based on the company.

Supplemental riders available with the term life insurance policy include: waiver of premium rider — premium payments may be waived if insured becomes totally disabled; children's level term insurance rider — Provides term coverage for children; and the accelerated benefit rider — You can receive a portion of the death benefit if you develop a terminal illness.

And, American General / AIG will also apply a portion of the term insurance policy's premium to the new permanent life insurance policy via a «conversion credit.»

A conversion option is typically included and allows the owner of the term policy to covert all or a portion of the term into permanent coverage, such as universal life insurance, without proof of insurability — that means no health questions or medical exam.

A conversion option is a life insurance rider that allows the owner to convert all or a portion of the term coverage into a permanent life insurance policy.

Indexed universal life policies put a portion of the policyholder's premium payments toward annual renewable term insurance with the remainder added to the cash value of the policy after fees are deducted.

Some types of life insurance also give the policy owner the right to «borrow» a portion of the «cash value» within a policy, or to receive an «accelerated death benefit» if you become terminally ill or require confinement in a long term care facility.

In some cases the best possible solution will be having a very affordable Term life insurance policy to cover the major portion of the financial liabilities and a smaller Universal life insurance policy to cover the person for the rest of his or her natural life.

In addition, AG offers convertible term life insurance which allows you to convert all or a portion of your policy to permanent coverage.

For example, the healthy 35 - year - old man who pays $ 430 a year for a $ 500,000 term policy would pay about $ 4,400 a year for a $ 500,000 universal life policy — in part because a portion of that $ 4,400 is going into the investment component of the policy.

Conversion Option: convertible term life insurance allows you to convert all or a portion of your term policy to a permanent policy, without proof of insurability (no medical exam or health questions).

Return of premium (ROP) is a type of life insurance policy that returns the premiums paid for coverage if the insured party survives the policy's term, or includes a portion of the premiums paid to the beneficiary upon the death of the insured.

If he is not insurable and has a conversion option on his term life insurance policy he can convert all or a portion of his coverage to a permanent policy.

While the premiums on permanent life insurance may be higher than those of a comparable term life policy, this is primarily due to the fact that some of the premium is going towards the cash value portion of the policy.

In contrast, the advantage to a universal policy is that the person is covered for their lifetime and while the monthly premiums are higher than term life, a portion of the premium are being invested for them and are available in the future to cash out or borrow against.

Or if your current term coverage includes a conversion feature, you could turn a portion of it into a permanent life policy.

Permanent life policies are more expensive than term life ones because of the cash value portion.

This is an important feature that allows the policyholder to convert a portion or all of the term insurance policy to a permanent policy such as whole life or universal life.

Adding a long - term care rider (or a living benefit rider) to your policy gives you access to a portion of your death benefit while you're still alive, and can help cover you in the event you need long - term care in the future.

If they can be met with a new term insurance policy and you don't really need a lifetime guarantee, I might suggest converting some small portion of that policy to permanent insurance as a final expense life insurance policy and getting a new term policy to cover the majority of your insurance need.

New York Life's term life insurance is convertible which allows the insured to convert all or a portion of the policy to permanent coverage prior to the end of the term or ageLife's term life insurance is convertible which allows the insured to convert all or a portion of the policy to permanent coverage prior to the end of the term or agelife insurance is convertible which allows the insured to convert all or a portion of the policy to permanent coverage prior to the end of the term or age 70.

You can buy an inexpensive term life policy when you're young and starting a career, and then convert portions of the coverage to permanent life insurance as your earning power grows.