Sentences with phrase «required on whole life insurance policy»

As with Mutual of Omaha's term insurance plans, there is no medical exam required on whole life insurance policy applications.

Not exact matches

In the event that you require long - term medical care in old age that your health insurance policy won't pay for, such as nursing home costs or at - home care, a long term care rider on your whole life insurance policy will cover the costs.

As an example, a properly structured cash value whole life insurance policy that is purchased from a mutual company, is one that has tremendous liquidity, low cost (majority of the cost is buying lifelong level insurance — not to be compared to term), no tax on the growth of the account, tax free loans, tax free withdrawals (up to basis), tax free to survivors, no contribution limits, no required withdrawals, is free from creditors, and has minimum guarantees.

Buying a traditional term life or whole life policy usually requires a life insurance medical exam, which means a health care professional reviews your answers to medical questions, takes a blood and urine sample, listens to your chest, and wraps a blood pressure cuff on your arm.

A proposed client buys either an A + + or A + Whole Life Insurance policy and makes all of their required yearly payments on time for decades.

As long as you continue to make your required premium payments on time, a permanent life insurance policy will remain in effect your whole life and won't expire.

In the event that you require long - term medical care in old age that your health insurance policy won't pay for, such as nursing home costs or at - home care, a long term care rider on your whole life insurance policy will cover the costs.

A medical exam is required for term life insurance and most whole life insurance policies, so health concerns brought on by your pregnancy, such as increased weight or high cholesterol, could affect your rates.

If you're planning on switching to whole life or universal life insurance once your term ends, it's best to choose a company that allows you to convert your term life policy, preferably without any medical exam required.

Whole life insurance is guaranteed to provide coverage for the policy owner for their entire lifetime, as long as they make the required payments on time.

The advantage of conversion term life insurance is you can get insured at a relatively low cost depending on your age and health that can be converted to a superior whole life or universal life policy at a later time, with no evidence of insurability required, i.e. no health questions or medical exam.

When you buy a typical whole life insurance policy, you are required to undergo a medical examination because the payout on the policy is high relative to a single year's premium.

If and when a policyholder elects to take the cash value of his whole life insurance policy, the amount he is required to pay taxes on is the difference between the cash value he receives and the total he paid in premiums during the time the policy was in force.

Since a whole life insurance policy represents permanent coverage, there is a far greater likelihood that an insurance company will be required to pay out a claim on a whole life insurance policy than they will on a term policy.