Sentences with phrase «purchasing convertible term life»

This is why we often refer to term life insurance as «renting a death benefit» and highly recommend purchasing convertible term life insurance if you choose to go this route.

By purchasing a convertible term life insurance policy when the insured person is young and healthy, even if they can not afford whole life insurance at that time, they give themselves the ability to convert at a later time when they have more money without having to worry about their health rating.

This is why we often refer to term life insurance as «renting a death benefit» and highly recommend purchasing convertible term life insurance if you choose to go this route.

Yes, as long as you've purchased a convertible term life insurance policy.

If you purchase a convertible term life policy, you can convert the policy to a permanent life policy.

Not exact matches

Thus, at a minimum, we suggest that «convertible term life insurance» is purchased which allows the policy to be converted into a permanent life insurance policy.

A Convertible Term insurance is usually purchased in the earlier years of life that could provide a good foundation to start with that would build up cash value and earn interest.

Many young and healthy term life policyholders choose to purchase a convertible term insurance policy because of the low - cost premiums and basic coverage that it affords their family.

The first term period of our life insurance has expired, so in order to keep this life insurance, we have some options: (1) Renew the policy at a premium of $ 750.00 per month (2) Let the policy lapse and have no life insurance (3) Purchase a new life insurance policy - Remember now 70 - ish (4) Convert the term policy (if convertible)- Remember now age 70 - ish We forgot about the quadruple by - pass surgery at age 65, which makes the «purchase of a new life insurance policy» out of the question (most Purchase a new life insurance policy - Remember now 70 - ish (4) Convert the term policy (if convertible)- Remember now age 70 - ish We forgot about the quadruple by - pass surgery at age 65, which makes the «purchase of a new life insurance policy» out of the question (most purchase of a new life insurance policy» out of the question (most likely).

By purchasing a convertible term policy when one is healthy, the ability to maintain life insurance coverage for the rest of one's life exists despite any changes in health.

Also important to keep in mind is the fact that term life insurance is usually convertible into whole life insurance for some period of time after it is purchased.

Thus, at a minimum, we suggest that «convertible term life insurance» is purchased which allows the policy to be converted into a permanent life insurance policy.

However, policyholders may purchase term life policies with a renewable or convertible option or with both.

And, if you decide you need lifetime life insurance protection after purchasing your term insurance, you may be able to convert your term policy into a permanent life insurance policy if you have convertible coverage.

Some people aren't ready to purchase 10 - 20 years of term life insurance just yet; in that case, New York Life offers temporary (also known as yearly) convertible term life insuralife insurance just yet; in that case, New York Life offers temporary (also known as yearly) convertible term life insuraLife offers temporary (also known as yearly) convertible term life insuralife insurance.

If I buy a term life insurance policy that clearly states in the conversion option that it is convertible to a permanent policy I expect that I have purchased that option when I put the term policy in force.