Sentences with phrase «premiums than term coverage»

Whole Life: Initially higher premiums than term coverage, however later or in older age it pays off.

Not exact matches

Given the median tenure for employees at a particular job is less than 5 years, it's likely you'll move to a new company within the term of coverage, and you'll have to get a new policy which is likely to have higher premiums since your age has increased.

This means that if you know that you want coverage for a longer period of time, you'll pay a higher average premium with Colonial Penn than if you purchased a longer term policy elsewhere (such as a 10 - year or 20 - year term) since your risk profile increases with age.

Initially, the premiums paid on cash value insurance, such as whole life insurance rates, are higher than those associated with term insurance, given that term insurance payments are used just to pay for current insurance coverage and not to build up cash value in the policy.

Rather than your coverage ending like a typical term policy, Custom Choice UL simply lowers the death benefit over time but your premium remains the same.

Banner's term life insurance policies offer flexible coverage with lower premiums than many competitors.

Variable life insurance premiums are much more expensive for the same death benefit coverage than term life insurance, which covers you for a set period of time — usually while you have dependents.

Term life insurance is the most affordable life insurance type — an insurance rate you pay is often 2 - 3 times lower than premiums you'd pay for a permanent life insurance policy with a similar coverage (also called whole life insurance).

You'll likely pay a higher premium than you would for traditional term life insurance at the same coverage amount, but you'll get coverage more quickly because you won't have to go through so many hoops.

If you primarily wanted coverage to replace your income before you retired or cover certain expenses, like a mortgage, we wouldn't recommend converting to a permanent policy as you'll pay higher premiums than if you purchased a new term policy.

Jeremy Hallett, founder of online insurance marketplace Quotacy, said in an interview that premiums are typically 10 times higher for whole life policies than they are for term life policies with the same death benefit because permanent insurance provides coverage for life with guaranteed level premiums.

«I often come across people who may prefer the long - term security of a permanent life policy, but they need a bigger death benefit than they can afford,» he said, noting that term life coverage, which offers a bigger benefit for smaller premiums, is generally the better bet in that case.

While the initial premium on term life coverage is less than a comparable amount of permanent coverage, over time term life insurance premiums can become quite high.

Because of this cash value and the lifetime coverage, whole life insurance has higher premiums (up to five to ten times higher) than level term life insurance.

While initial premiums are higher than with a typical term policy, it is possible for coverage to continue until death of the insured, and cash value may accrue in the policy on a tax - deferred basis that can be used to help meet financial needs during your life.

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.

There is no cash value associated with term life coverage, which is why premiums are often lower than for other types of insurance.

And AmEx's premium protection program will get you coverage for pickup trucks, vans, sport - utility trucks (Chevy Avalanche, GMC Envoy, etc.) and luxury vehicles worth more than $ 50,000, according to its terms and conditions.

In the earlier years of a whole life policy, when you are younger, your premiums may be higher than with a term life policy for the same amount of coverage.

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.

A term life insurance policy will provide the coverage you need and the premiums are lower than a permanent policy, but the permanent policy will last for your entire life.

You'll get a lot more coverage for 20 years, but since it's a 20 year term instead of 30, your premium will still be lower than the «mortgage insurance» offers and probably even lower than the 30 year level term policies other agents are quoting you for the current amount of the balance.

The only downside to this product is that the premiums will be higher than other term policies, but this downside is small when compared to the options offered through ROP Endowment Term coverterm policies, but this downside is small when compared to the options offered through ROP Endowment Term coverTerm coverage.

Chances are you'll find a term life policy will have lower yearly premiums and offer more coverage and flexibility than a mortgage insurance policy.

While it provides permanent coverage with fixed premiums, the premiums are substantially higher than that of term life insurance.

Because term life insurance only pays out if the policyholder's death occurs during the term of their coverage period, policy premiums are generally lower than whole life insurance.

Customer Choice Universal Life offers policyholders level premiums and the flexibility of term life coverage, at competitive prices that are less expensive than typical whole and universal policies on the market.

These policies have a higher premium initially than a term policy, but the coverage is for your lifetime.

When purchasing life insurance coverage — renewing or converting a term policy — look at more than just the premium.

It is more expensive than term coverage but it's permanent coverage with level premiums for the rest of your life.

Because of this cash value and the lifetime coverage, whole life insurance has higher premiums (up to five to ten times higher) than level term life insurance.

Because PPLI is sold only to people who are extremely likely to keep their policies up to date and retain them for the long term, providers are able to offer PPLI policyholders significantly lower premiums than the general public would pay for similar coverage.

Generally, it is best to get the term length that fits your needs, but getting coverage for a shorter period of time, with a premium you can afford, is better than forgoing the coverage you need altogether.

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.

You'll likely pay a higher premium than you would for traditional term life insurance at the same coverage amount, but you'll get coverage more quickly because you won't have to go through so many hoops.

Variable life insurance premiums are much more expensive for the same death benefit coverage than term life insurance, which covers you for a set period of time — usually while you have dependents.

Because it costs so much more than term, people often have to cut back on the amount of coverage they buy in order to afford the premiums.

While the initial premium on term life coverage is typically less than a comparable amount of permanent coverage, over time term life insurance premiums can become quite high.

Premiums tend to be lower for short - term policies than for major medical comprehensive coverage, but there are reasons these plans cost less than comprehensive coverage.

While the premium for permanent life insurance may initially be higher than that of term life coverage, in most cases, the amount due will not increase over time — regardless of how long the insured keeps the policy.

Due to the guaranteed payout, the premiums are substantially more than term coverage.

Having some life insurance is better than having none at all, so if you are unsure you can easily afford the premiums of a 25 - year $ 500,000 term policy, consider a 20 - year term or decreasing the coverage amount.

However, for those unable to afford the premium necessary to provide adequate whole life coverage for their current insurance needs, it would be imprudent to purchase less coverage than is adequate as whole life insurance rather than purchase an adequate level of term to cover their current need.

Premiums for term life insurance coverage are highly affordable and cheaper than alternative life insurance products and the reason that term policies are so popular.

Once your term is over, you will need to renew, or purchase a new term life insurance policy if you still need life insurance coverage, which means your premiums may be higher than what you paid for your first term policy.

These products can be attractive in the short term, offering lower premiums than their «level term» counterparts for the first five or six years of coverage.

Once advantage of purchasing a term life insurance policy is lower insurance premiums than a permanent life insurance policy.Permanent Life Insurance is a lifetime policy with flexible coverage and payment options.

Cash - value insurance has higher premiums than term insurance because part of the premium pays for the death benefit coverage and part of it goes toward the policy's cash value.

It is for this reason that the premium for term coverage is typically less than that of permanent life insurance plans with a comparable amount of death benefit coverage — at least initially.

With permanent life insurance, you generally pay a higher initial premium than for term coverage — with good reason.