Sentences with phrase «reduce term coverage»

Alternatively, you can purchase a short - level term policy — say, one to five years — for a lower premium, and then gradually reduce your term coverage over time to manage costs, while your mortgage balance declines.

As your retirement portfolio of assets grow you can reduce term coverage and eliminate it entirely if desired.

Not exact matches

1 Accessing cash values, through loans and partial surrenders or by accelerating benefits for long term care benefit payments, will reduce the death benefit payable, the cash surrender value and the long term care coverage available.

Term life insurance is typically the best choice if you want coverage for a mortgage or to replace your income until retirement, as these financial obligations will be reduced or eliminated with time.

«[E] ach policy of aircraft accident liability insurance... shall specify that it shall remain in force, and may not be replaced, canceled, withdrawn, or in any way modified to reduce the minimum standards set forth in this part, or to change the extent of coverage by the insurer or the carrier, nor expire by its own terms in regard to coverage for the carrier in its common carrier operations in air transportation, until 10 days after written notice by the insurer (in the event of replacement, by the retiring insurer), or by the insurer's representative, or by the carrier to the Department... which 10 - day notice period shall start to run from the date such notice is actually received at the Department.»

Instead of taking back the refund, you can choose other non-forfeiture options, such as using the cash to continue to pay premiums, acquire reduce paid - up insurance (using the cash to buy a reduced amount of permanent coverage) or acquire extended term insurance (keeps the coverage the same, but reducing the length of the policy)

Renew and reduce coverage: The most basic and likely most common option is to renew your term insurance policy at the increased cost.

Term life insurance is typically the best choice if you want coverage for a mortgage or to replace your income until retirement, as these financial obligations will be reduced or eliminated with time.

The dividend can be used to purchase additional insurance, a combination of additional insurance and yearly term insurance (known as enhanced coverage), or reduce the premium.

Term life and disability coverage could reduce, pay off or make the loan payments on your covered cPort loan in the event of your death or disability from a covered illness or injury.

I have been reevaluating my life - insurance strategy and having remembered an article about using laddered term life insurance to give you a higher amount of coverage in the short term with reducing...

Continued indiscriminate use of the terms will further polarize views on climate change, reduce media coverage to tit - for - tat finger - pointing, and do little to advance the unsteady relationship among climate science, society, and policy.

The recent prolonged downturn in energy prices, which has led to reduced demand for insurance among energy providers, coupled with anticipated relaxed enforcement efforts from the current administration in Washington D.C., is expected to put pressure on insurance carriers to loosen underwriting standards and expand the terms and conditions under which they offer coverage to energy companies.

On expiry of the original term (being between two and five years) you may either apply for a further term or revert to just the $ 250,000 standard run - off coverage (as reduced by prior claims).

At that point, the policy will either terminate without value or fall under one of the non-forfeiture options (reduced paid - up coverage, extended term coverage, etc.).

Based on the insurance company, a client may receive one of two options which include a reduced paid - up coverage or an extended term insurance policy.

With decreasing term insurance, you purchase a specified amount of life insurance at guaranteed level rate and the insurance coverage reduces over time.

So, in general, Increasing Term Insurance is not the best type of insurance for you if you are interested in long - term protection because increasing premiums reduce the value of the coverTerm Insurance is not the best type of insurance for you if you are interested in long - term protection because increasing premiums reduce the value of the coverterm protection because increasing premiums reduce the value of the coverage.

Throughout your visit, there are many articles providing you information on hospitalization coverage, short - term policies, ways to reduce your expenses and more.

There are a lot of ways you can reduce the cost of long - term disability insurance, and one of them is to take advantage of SSDI benefits to lower the amount of private coverage you need to buy.

The option of renewing coverage when your term ends (typically resulting in a higher premium and possibly a reduced face amount) 2

Mortgage reducing term or declining benefit coverage is often purchased to cover the pay - off on a home loan.

Term life insurance is typically the best choice if you want coverage for a mortgage or to replace your income until retirement, as these financial obligations will be reduced or eliminated with time.

The premium for the term insurance coverage is reduced based on the lower death benefit amount, while the premium for the new permanent coverage is based on the initial health rating and the current age of the insured.

Most people can buy a term policy for the length of time they need life insurance and add (or reduce) coverage as their needs change.

Not only does SGLI offer service members a reduced rate for term life insurance, the insurance program provides members of the military with coverage that they may not be able to obtain elsewhere.

4 After age 65, coverage is reduced per the terms of the contract.

Typically with these policies there is a maximum monthly benefit that is defined in the contract — and as the long - term care coverage is paid, the death benefit will be reduced by the amount of those payments.

However, traditional long term care insurance products can be expensive, and insurance companies often raise the premiums on existing policies to the point where policyholders can no longer afford to make payments and have no choice but to reduce their benefits or cancel their coverage.

It can add coverage, modify it, reduce or even remove coverage or terms or provisions of the policy.

A couple ways of achieving this is by reducing the coverage protection amount or term length.

If your $ 400,000 home mortgage is paid off, you might want to reduce your life insurance coverage, but with term insurance, you can't.

Whole life policies may also be surrendered and the surrender value then used to purchase a reduced paid - up amount of insurance or used to provide term insurance coverage for a set period of time (extended term).

You may also receive dividends that you can use to reduce your premiums, increase your coverage, pay back loans, purchase additional term insurance, or take in cash value.

Buying a comprehensive insurance coverage for the short term will be very expensive, instead to reduce the cost take a long - term comprehensive coverage and cash it in at the end of the visit.

The company must provide either extended term insurance coverage or reduced paid paid - up coverage.

You may know that your house will be paid off in 5 years, and you can drop a significant amount of insurance coverage at that point, but you want to lock in a policy now while you are healthy that will also last for a long time, you may want to get one short term term policy to cover the mortgage payment, and one longer term policy that will last until retirement or beyond to provide for living expenses (don't forget that reducing face «mortgage life insurance» policies also can be purchased from most insurers).

Plan: Jeevan Saral Sum Assured: 5,00,0000 date of Commencement: 26/12/2009 Policy Term: 21 Yrs Premium Amount: 24,020 Scenario - 1: I have paid premium for 7 years now, will I get my maturity amount along with Loyalty Bonus if I surrender my policy now or is that I get loyalty bonus only after premium payment for 10 years, If So If I am Surrendering my policy this year, How much will I get as Maturity Amount, Appreciate if you can calculate and let me know the exact figure Scenario - 2: If I Paid up my Policy instead of Surrendering, How much will be the insurance Coverage or Sum Assured, In paid up I think I will not get my money back but would like to know by how much amount will my insurance coverage gets reduced from 5 lakhs?

With both whole life and term life offered at a reduced cost from a single of the most extremely respected insurance vendors, the AARP makes life insurance coverage more accessible to more seniors.

In general terms, replacement coverage gives you reimbursement covering the cost of buying a new item to replace the one lost, while actual cash value (ACV) coverage depreciates the value of the lost item based on its age and reduces payout accordingly.

Decreasing Cover * - The Risk Cover or Sum Assured will reduce as per the Sum Assured Schedule (SA Schedule) derived using the Loan Interest Rate & the Coverage Term at the time of coverage inception.

The conversion privilege plays an important part of financially securing you surviving loved ones because you can purchase all the term coverage you need to cover the debt that has accumulated, and then convert your policy to permanent insurance when your debt has been reduced, and a lower death benefit makes more sense.

Some strategies include working on the terms of the coverage to reduce expenses.

An exclusion, in insurance terms, is a specifically defined event or circumstance or series of events and circumstances under which your insurer will not pay benefits or may a reduced level of benefit depending on your coverage.

You can reduce the number of years of the term policy or reduce the amount of coverage.

Offered to those aged between 18 - 65, there are also niche policies available including term life insurance for seniors aged 70, with reduced paid up lifetime benefits when the term coverage period ends.

Until a few years ago, many people purchased mortgage insurance, which is usually a reducing term policy, which means the amount of coverage decreases with your mortgage over the length of the mortgage (typically 30 years).