Sentences with phrase «purchase of life insurance cover»

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Term life insurance policies can be purchased to cover nearly any period of time, and will stay in effect for the entire period as long as you continue to pay the premiums (the cost of the policy, which can be paid on a monthly or annual basis).

A good rule of thumb is to purchase enough life insurance to cover 10 times your income if you have kids under 10 years old (five times your income if you have kids over 10), plus the amount needed to pay off any debts.

In addition, the limited amount of coverage you can purchase means that guaranteed insurance will typically only cover end - of - life expenses.

Make sure you purchase enough life insurance coverage to cover the amount of the student loan debt.

Alternatively, Mortgage Life Insurance is not mandatory and is purchased to cover the mortgage if the consumer becomes seriously ill or even dies unexpectedly during the term of the mortgage.

Life insurance can be purchased either as a permanent policy, covering your entire lifetime, or as a term policy, covering a certain period of time — anywhere from a year to 30 years.

Assuming your assets (ideally, liquid assets) are enough to cover everything from funeral costs to estate taxes to your loved ones» future cost of living, you can consider passing on the purchase of a life insurance policy.

However, if you don't have your own savings or enough cash to make mortgage payments until you can sell the house — or if you and your child live in the home you've purchased together — it might make sense to buy a life insurance policy for your child to cover the remainder of the mortgage should they die.

If the value of your business has recently changed (the purchase of a new building, inventory or equipment), be sure your life insurance limits are set high enough to cover business debts that your family could be held responsible for when you die.

This article covers the specifics of an AD&D life insurance policy rider, such as what it is, how it works, how it can be purchased, and why you should consider buying one.

Life insurance is often purchased in amounts sufficient to cover the loan amount of a mortgage so that if you die, your beneficiaries will have enough money to pay off the balance.

This important whole life insurance policy is typically purchased to cover the cost of a funeral and burial and, sometimes, other expenses that must be paid to close an estate, such as credit cards and other types of small loans or bills.

If you purchased life insurance before having children and only purchased enough to cover the mortgage, but not the costs of raising a child or college tuition, it might be time to consider purchasing more coverage.

When purchasing income protection, consider what other types of life insurance you need as well, such as life cover and total and permanent disability cover.

Everything else being equal, the main reasons to purchase permanent insurance are: (1) if you have a dependent, such as a special - needs child or handicapped loved one, who relies almost solely on your income to live and who will need to rely on it after your death in perpetuity, or (2) if you have few, if any, other assets and don't actively plan on having any that could be used to cover the cost of your funeral, to pay off any outstanding debts, or to provide some inheritance to your family.

Students living off - campus need to purchase a renters insurance policy to cover their belongings and for liability and loss of use coverage.

This issue is usually alleviated by purchasing life insurance to cover funeral expenses, as well as other debts of the decedent.

When purchasing trauma cover, consider what other types of life insurance you need, such as life cover, total and permanent disability cover and income protection.

Most of the time term life insurance policies are purchased to cover the most financially - vulnerable years, such as when your children are small and you have quite a few years left on your mortgage loan.

When an individual purchase a dividend paying whole life policy, a portion of their premium covers the cost of insurance and a portion goes toward the cash value (CV).

One of the primary benefits of purchasing a life insurance policy when they are young is that they will always be covered regardless of their future health as long as premiums are being paid.

When buying term life insurance, it's important to purchase enough coverage to ensure your family has the money it needs to cover funeral costs and to maintain their current standard of living.

Students living off - campus need to purchase a renters insurance policy to cover their belongings and for liability and loss of use coverage.

Some of the debts covered under credit life insurance policy include auto loans, personal loans, mortgage loans, revolving check loans, bank loans, educational loans, and loans to cover farm equipment or mobile home purchases.

Since this only covers accidental death and does not cover natural causes (such as heart disease, stroke, or cancer), this life insurance rider is best purchased when the insured is maxed out on the amount of life insurance they can qualify for and he or she need some additional coverage.

You, or your business, would purchase a life insurance policy (a term life insurance policy) to cover the face amount of the loan.

People purchase life insurance for many reasons, most of which deal with covering funeral expenses, leaving behind legacies, or paying off debts.

There are a few types of life insurance you can purchase in 2017 to cover the cost, term life insurance, simplified issue term life insurance, universal life insurance, guaranteed issue life insurance and whole life insurance.

Buying term and invest the difference means you will use an amount equivalent to what it will cost to purchase a permanent life insurance plan, and then compare this to the expense of a term policy for a similar face amount covering the time period it is required.

Given that profile, you can purchase a 30 - year term life insurance policy with a death benefit of $ 500,000, which will be about enough to cover the average young family.

Term is frequently purchased to cover a temporary life insurance need and is the most affordable type of coverage.

This particular term life insurance plan offers premiums that are guaranteed to stay the same for the entire term you select — premiums are based on your age, health at the times you purchase the policy and will cover you until you reach 85 years of age

Final expense policies are a smaller amount of permanent life insurance (typically $ 5,000 - $ 40,000) that you can purchase to give your family the protection that they need to cover the funeral and all other related costs.

It's no secret that moving house is one of the most stressful events you can face in life, and when a relocation means purchasing a new home, you'll have to compare home insurance to make sure your investment is covered from the day the sale is completed.

Although you will want the best possible level of cover available, usually senior citizens who are looking to purchase this type of final expense life insurance are getting a fixed monthly income, such as a pension.

When purchasing your life insurance policy, it is important to consider a policy that will cover the loss of a spouse's financial contribution.

The main reason most people purchase life insurance is to cover the financial needs of their loved ones in the event of unexpected or untimely death.

If the value of your business has recently changed (the purchase of a new building, inventory or equipment), be sure your life insurance limits are set high enough to cover business debts that your family could be held responsible for when you die.

When you're considering how much life insurance to purchase, covering any outstanding debt is the easiest part of the equation.

Life insurance is often purchased in amounts sufficient to cover the loan amount of a mortgage so that if you die, your beneficiaries will have enough money to pay off the balance.

Life insurance is absolutely critical after the purchase of a home, as the potential payout of an insurance policy can help cover part or all of the outstanding balance on a home mortgage product.

When purchasing a home, refinancing, or extending the life of your mortgage, your life insurance policy may not be enough to cover the increased debt load.

Knowing that if one of them were to die the surviving spouse wouldn't bring in enough income to cover their monthly expenses, both purchase a life insurance policy on each of their lives, should the unthinkable happen.

For those that do, the average amount of coverage is typically small, and often just enough to provide the benefit of covering final expenses.1 The fact is, there are many other benefits to purchasing life insurance for your child, including locking in their future coverage.

Here are the points to ponder when planning to purchase term insurance policy - Adequacy of The Cover Amount Life insurance cover is the amount provided by the insurance company to the dependents of the policyholder in case of his demise in order to replace his earnCover Amount Life insurance cover is the amount provided by the insurance company to the dependents of the policyholder in case of his demise in order to replace his earncover is the amount provided by the insurance company to the dependents of the policyholder in case of his demise in order to replace his earnings.

Credit life insurance: Term life insurance issued through a lender or lending agency to cover payment of a loan, an installment purchase, or other obligation in case of death.

For instance, a 30 - year - old salaried individual can purchase a term insurance plan for Rs. 50 lakhs of life cover.

This issue is usually alleviated by purchasing life insurance to cover funeral expenses, as well as other debts of the decedent.

If it's just you and your spouse or significant other, the idea of purchasing a term life insurance policy that would cover the mortgage payment should be considered.