Sentences with phrase «premiums over a shorter period»
Limited payment insurance means that you pay much higher premiums over a shorter period of time so that you don't have to pay any premiums when you are older.
https://www.insuranceproviders.com/ Not exact matches
The term premium is the extra compensations investors require for the risk of holding a long - term treasury bond versus a sequence of short - term treasury bills over the same period.
You can choose to make smaller premium payments throughout the life of the policy, larger payments over a shorter period (known as limited pay whole life), or lower premiums in the beginning and higher premiums afterward.
This is a great feature as it means you don't have to pay higher premiums over the entire term of the policy if you only need more coverage for a short period of time.
If you like to pay your premium in short period and want to enjoy the benefits from the plan over the policy term.
It requires only a limited number of premium payments paid over a short period of time.
After accumulating multiple losses, especially over a short period of time, your claims history may begin to affect your insurance premiums.
A short pay allows you to do this by consolidating the premium payments required for a lifetime guarantee over a limited period of time.
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.
With a 6 - month policy, car owners may have to deal with increasingly higher premium rates over a shorter period of time.
The short pay option allows an individual to do this by merging the premium payments that are required for a lifetime guarantee over a reduced period.
In some cases, this reflected a rise in premium of over 100 percent within just a short period of time — making these policies unaffordable for individuals who had been paying in premiums for many years.
You can choose to make smaller premium payments throughout the life of the policy, larger payments over a shorter period (known as limited pay whole life), or lower premiums in the beginning and higher premiums afterward.
They are ideal if one wants to pay premium for a short period and wants to enjoy benefits from the plan over the policy term
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).
Some people opt for this policy over a 10 pay because the premiums are lower but you still get the advantage of a paid up policy in a relatively short period of time.
This is a great feature as it means you don't have to pay higher premiums over the entire term of the policy if you only need more coverage for a short period of time.
For example, say you want the benefits of paying whole life insurance premiums over a shorter time period but can only afford a particular dollar amount per year.