Sentences with phrase «premiums over a given period»

In general, if shorter - term policies provide more flexibility when it comes to the costs incurred at the renewal of the policy, the advantage of longer - term policies is that they offer a better price and may guarantee level premiums over a given period of time.

In short, with life insurance, you pay premiums over a given period so that your beneficiaries can receive a lump sum payment upon your passing (find out How to Collect a Life Insurance Payout).

Not exact matches

There's «annual renewable term,» which gives you one year of coverage at a time that you renew annually, «level premium term,» which you buy for a specific multiyear period — 10, 15, 25 or 30 years and «return of premium» which is like a level term policy but gives you all your money back after your term is over if you do not pass away.

Internal Revenue Code section 7702 sets limits for how much cash value can be allowed and how much premium can be paid (both in a given year, and over certain periods of time) for a given death benefit.

In case of permanent accidental disability an amount equal to Accident benefit sum is paid if the form of equal monthly installments spread over a period of 10 years and future premiums for Accident benefit sum assured along with premium for the portion of Basic sum assured is also given.