Sentences with phrase «premiums on a permanent policy»

When you pay your premium on a permanent policy it's split between the death benefit and the cash value — essentially an investment product coupled with the insurance policy.

When you pay your premium on a permanent policy it's split between the death benefit and the cash value — essentially an investment product coupled with the insurance policy.

Although the premium that is charged on a permanent life insurance policy will usually start out higher than that of a comparable term life insurance plan, the amount of the premium on a permanent policy will typically be locked in for life.

Premiums on a permanent policy cover more than the actual cost of the policy, and the extra amount supplements a savings account in your name.

The III notes, however, that you may have a few options if you can't pay a premium on a permanent policy.

So, if I buy a $ 500,000 policy to cover the years when my child is growing up, once that child is grown and no longer dependent on me, do I want to continue to pay premiums on a permanent policy, or would I feel better about getting a refund on the term insurance I had but didn't use.

Not exact matches

On the other hand, as long as premiums are paid, a permanent life insurance policy will always pay out a death benefit since it never expires.

Life insurance can be bought either as a permanent life insurance policy, covering your entire life (as long as your premiums are paid on time and in full), or a term life insurance policy, covering a given period of time.

Unlike permanent life insurance policies which remain in effect for your entire life (assuming your premiums are paid on time), term life policies remain in effect for a specific term or period of time.

But when it comes to permanent life insurance, some other factors weigh heavily on your premium, such as policy design.

Premium Waiver rider (UIN: 130B005V03): 100 % of all future premiums under the base policy are waived and paid by the company on the death & total permanent disability or critical illness of Proposer, depending on the chosen option.

Term life insurance is not available as a standalone policy on children (because the term would likely be over by the time they needed income replacement for their own families), but a permanent policy will last their lifetime so long as the premiums are paid.

The main reason you would do a partial term conversion is if you could not afford the premiums on a full conversion or don't require the full amount converted to a permanent policy.

Next time around, you may want a permanent policy so you can accumulate cash value on a tax - deferred basis or just for the hassle - free life coverage at a guaranteed premium amount.

Depending on the type of permanent policy, you could see your death benefit shrink and / or premiums rise over time, or the cash value portion could decrease.

Permanent policies last your entire life assuming you pay your premiums on time and in full.

Permanent coverage has the potential to build cash value, which means that, generally, the premiums you pay (1) grow with interest; (2) can, in some cases, be borrowed against; and (3) on indexed and variable policies, can be placed within investment accounts.

If you want low - cost, very affordable premiums, look at term life insurance (but with the option to convert to a permanent policy later on).

Permanent policies remain in effect for your entire life, as long as the premiums are paid on time and in full.

However, this is primarily because a portion of the premium on permanent life insurance policies is going into the cash value component.

A permanent life insurance policy, on the other hand, stays in force for as long as you keep paying the premiums.

The longer you wait to convert your policy, the higher your premiums will be on your new permanent life insurance policy.

Because there aren't a lot of «bells and whistles» on term life insurance coverage, the premium cost for these policies will typically be less than that of a comparable permanent life insurance policy — with all other factors being equal.

Because of that, the premiums on these policies can typically be less than a comparable permanent policy.

There is no set time limit on a permanent life insurance policy's coverage, as many of these plans are intended to provide coverage for the remainder of an insured's lifetime (provided that the premium is paid).

The amount of the premiums on a permanent final expense life insurance policy will be locked in — and can not be raised by the insurance company.

Over a 15 - 20 year period, a properly structured permanent life insurance policy may generate an internal rate of return on your premium stream in excess of 5 % tax free.

The amount of these premium is based on several factors, including whether the policy is permanent or temporary, and then next face value, length of coverage, age, and your rate class.

Your premium payments on a permanent life insurance policy may accumulate cash value on a tax - deferred basis.

Variable Life Insurance (VL) is a permanent Life Insurance plan that provides flexible premiums and death benefits dependent on the value of the separate accounts from the company's investment portfolio underlying the policy.

The cost of permanent life insurance will be dependent on a number of factors, and there's a good chance that you and your best friend could apply for insurance policies and have different premium amounts quoted to you.

Permanent policies earn cash value and remain in force as long as required premiums are paid on time.

Permanent life insurance differs from term in that as long as you make your required premium payments on time, the policy will never expire.

As long as you continue to make your required premium payments on time, a permanent life insurance policy will remain in effect your whole life and won't expire.

A permanent life insurance policy, on the other hand, stays in force for as long as you keep paying the premiums.

Provides the benefit of waiver of all future premiums payable under the base Life Insurance Policy on the earlier occurrence of Untimely Death, Accidental Permanent Total Disability or Critical Illness.

The premium for the new permanent policy will be based on your age at the time of conversion.

With no cash value, the premiums on term life insurance are oftentimes very affordable in comparison to a comparable permanent life insurance policy.

Typically the premiums go up around 50 % once the term period expires, however some can be as much as 100 % more to convert from 20 year into a permanent policy depending on your age.

The Waiver of Premium rider exists to make sure that if you are ever in a position of temporary or permanent disability that after a certain waiting period, you will no longer have to make premium payments on your policy.

As mentioned, whole life insurance policies are permanent, meaning they don't expire after a certain period of time as long as the premiums are paid on time and in full.

For some, a permanent policy may make the most sense because it provides lifetime coverage (provided you pay your premiums on time and in full) and accrues cash value.

Permanent policies remain in effect for your entire life, as long as the premiums are paid on time and in full.

The premiums will be calculated based on the age of the insured at the time of conversion and the type of permanent policy being issued.

For its joint whole life policy, the coverage is up to $ 20,000 of protection for ages 18 — 85, with coverage provided for two persons under one policy and one low premium payment providing permanent coverage for the insured and a spouse on a first to die basis.

If you have a permanent life insurance policy (like whole or universal), your policy will remain in force as long as you continue to pay the premiums on time and in full.

However, once that period has elapsed, then the term life insurance will expire — and, if an insured would like to continue having life insurance, then he or she must then either obtain another policy, pay higher premiums on the current term policy, or convert the term policy over to a permanent form of coverage.

For those who have shorter term coverage needs, and / or a limited amount of money to spend on life insurance premiums, a term life insurance policy could very well be the best alternative — especially one that has the option of being converted over into a permanent policy in the future, regardless of the insured's health condition.

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.

However, the premium amount due on a permanent policy will remain the same over time, while the term life insurance premiums can go up significantly each time you * renew.