Sentences with phrase «proof of insurability»

The rider allows the purchase of additional coverage without proof of insurability at specific ages, or alternatively, on certain special occasions such as marriage or the birth of a child.

Guaranteed Insurability Rider: allows you to increase your disability policy coverage by purchasing additional amounts of coverage without requiring proof of insurability.

The GI rider is useful to an insured because it allows them to increase their policy's death benefit without providing proof of insurability.

Although your rates will increase because of the new type of policy, you are not required proof of insurability at the time of the conversion.

If you decide to renew your policy, you will not be required to provide additional proof of insurability.

If you have to provide proof of insurability again, poor health at the end of your term may prevent an insurer from renewing your policy.

Whenever the insured person's health is fine as recorded by proof of insurability, the assured renewable term payment can be lessen.

For example if you have opted for a term of 15 years and then after 15 years you wish to extend your coverage then you will have to present proof of insurability.

Provides the option of adding additional coverage without proof of insurability upon specific birthdays or special occasions.

As a final point, a specific provision in several term insurance contract policies which permit the insured person the right to make good the policy at a further favorable rate by means of providing an updated proof of insurability.

Individual proof of insurability is not normally a consideration in its underwriting.

[x] An option which allows the policyholder to purchase additional insurance protection from the insurer or to renew the existing policy only, without any further proof of insurability.

If you purchase a 20 - year term policy and after 20 years decide you'd like to extend your coverage, you may need to undergo proof of insurability and could be denied additional coverage or need to renew at a significantly higher premium.

Service members may apply for coverage for up to one year and 120 days after leaving the service, but will be required to provide proof of insurability after the 240th day.

The key advantage is that you don't have to show proof of insurability to get this coverage.

You do not have to go through a medical exam, or provide proof of insurability in other ways.

Most companies offer another 31 days when you can reinstate your lapsed policy without proof of insurability by simply sending a check or calling and making a payment by phone.

This convertible term insurance will allow the policyholder to convert the lower - cost term insurance into permanent insurance without additional proof of insurability and possibly while locking in the rate class of the insured at the inception of the policy.

«To buy another term policy requires proof of insurability, basically a medical exam.

If you choose to convert your plan, you won't have to go back through underwriting for proof of insurability again.

The guaranteed insurability rider provides the option to purchase additional coverage without having to provide proof of insurability.

Bringing an employee in later requires proof of insurability.

This means that you can lock in anywhere between five and 30 years, for which you can renew annually with no proof of insurability, i.e. no exam or medical questions.

He is referring to an important component of some, but not all, term life insurance policies — the ability to convert all or part of the term policy, during the conversion period, into permanent life insurance, irrespective of the policyowner's health or proof of insurability.

Conversion to a cash value policy is available without proof of insurability.

Keep in mind that in most cases increasing your death benefit will require proof of insurability.

Once you have obtained life insurance for your children the policy will allow your child to increase coverage periodically, with no proof of insurability.

The primary benefit of a conversion option attached to term life is that the insured can convert the policy without proof of insurability.

The policy can be converted to universal or whole life insurance with no proof of insurability.

An advantage of renewable term life insurance is that it is usually available without proof of insurability.

This means that you can lock in anywhere between five and 30 years, for which you can renew annually with no proof of insurability, i.e. no exam or medical questions.

But you will be locked into a policy, so that if you do get struck with some sort of life altering sickness, you can convert your term life to whole life with no proof of insurability.

You can include a paid - up additions rider in your policy, which allows you to make purchases of paid - up additional insurance with no proof of insurability, increasing the cash value and death benefit proportionately.

Annual renewable term insurance usually can be renewed every year without proof of insurability, but the premium may increase with each renewal.

Chronic Illness Conversion Agreement (CICA): the CICA provides a guarantee that the term policy can be converted to an individual life policy that includes chronic illness benefits, without proof of insurability.

Guaranteed Insurability Option (GIO) Rider: provides you the option of adding additional life insurance with no proof of insurability required.

Guaranteed Insurability — you can add a guaranteed insurability rider to your whole life policy in order to allow you to take out additional life insurance coverage with no proof of insurability at certain specified times.

If you decide to convert your term policy later in life, you won't have to provide proof of insurability or show that the policy owner is in good health.

The policy can be converted to five times the face amount with no proof of insurability.

However, term life insurance generally comes with a conversion option which allows the owner to convert the policy into permanent insurance with no proof of insurability.

You can convert the term life policy at any time during the term without proof of insurability.

And the best part is that the policy is converted with no proof of insurability, i.e. no exam or background check.

What that means for you is at the end of your term period or age 75, whichever comes first, you will have the options to convert the temporary coverage to a permanent life insurance policy without proof of insurability.

For key person business life insurance, the Salary Increase rider offers owners the ability to increase the death benefit by $ 30,000 increments, up to $ 1,000,000 of additional coverage, with no proof of insurability.

This add on allows you to convert your term policy to a permanent product without proof of insurability.

That way, even if you do come down with some sort of condition that precludes you from life insurance, you can simply convert your term policy to a permanent policy with no proof of insurability.

Convertible term life insurance allows you to convert all or a portion of the face amount to permanent life insurance, with no proof of insurability (i.e. no exam or health questions).

The ability to convert a term life insurance policy into a permanent policy, usually without a medical exam or proof of insurability.