Sentences with phrase «such on a life insurance policy»

The policy owner is the only person who can make decisions such aschanging beneficiaries and such on a life insurance policy.

Not exact matches

To «go on claim,» insurance - speak for using the benefit, you must be unable to perform at least two «activities of daily living,» such as bathing, dressing, feeding and toileting, for most policies.

Guaranteed universal life insurance, on the other hand, is essentially a term life insurance policy that lasts until you reach a certain age (such as 90, 100 or 121).

Therefore, if you are on the younger end of the age spectrum, you might want to consider purchasing something that will be in place for longer, such as a 30 year term policy or permanent life insurance policy.

Typically, any person or entity can be named a beneficiary of a trust, will or life insurance policy, and the one distributing the funds, or the benefactor, can put various stipulations on the disbursement of funds, such as the beneficiary attaining a certain age or being married.

As you go through this exercise, you should also consider what other resources you may have to fall back on, such as cash value in life insurance policies or home equity that you could convert to income via downsizing or a reverse mortgage.

The extensive insurance advice provides a variety of information on topics including auto insurance, home / renters insurance, health insurance, and life insurance - offering easily accessible articles revealing tips on topics such as buying insurance, insurance policy questions, amounts and types of insurance coverage, addressing complaints, and claims.

But when it comes to permanent life insurance, some other factors weigh heavily on your premium, such as policy design.

If you can afford to pay a little more for your coverage, you can lock in a rate on a permanent life insurance policy, such as whole life or universal life.

Initially, the premiums paid on cash value insurance, such as whole life insurance rates, are higher than those associated with term insurance, given that term insurance payments are used just to pay for current insurance coverage and not to build up cash value in the policy.

From a strategic standpoint, the popularity of cash value life insurance stems from its ability to both provide insurance protection and grow funds on a tax - deferred basis — interest and earnings in policies of this type are not taxable unless a triggering event occurs, such as surrendering the policy.

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.

In the case of variable universal life or indexed universal life policies, the illustration needed will be based on a hypothetical earnings rate such as 6 % and current insurance costs.

In a recent insurance spending study based on Canadian consumer experience, InsurEye found that an average Canadian consumer spends $ 3,100 annually on insurance (it includes three major insurance types such a Home, Auto and Life insurance but does not include other smaller insurance policies such as e.g.

If a policy of insurance has been or shall be effected by any person on his own life or upon the life of another person, the policyowner shall be entitled to any accelerated payments of the death benefit or accelerated payment of a special surrender value permitted under such policy as against the creditors, personal representatives, trustees in bankruptcy and receivers in state and federal courts of the policyowner.

Also, don't buy riders such as Accidental Death or Waiver of Premium on any life insurance policies.

«Say you buy a permanent life insurance policy on a child for [a face value of] $ 50,000,» said Kevin M. Lynch, an assistant professor of insurance at The American College of Financial Services, giving a hypothetical example of how such a provision would work.

Evaluate product selection: Although many companies sell similar policies, some focus more on certain products, such as whole life insurance, or on certain customers, such as seniors.

Although many companies sell similar policies, some focus more on certain products, such as whole life insurance, or on certain customers, such as seniors.

The IRS places a limit on how much money can go into life insurance premiums for the policy and how quickly such premiums can be paid in order for the policy to retain all of its tax benefits.

Some policies, such as term life insurance or guaranteed universal life, are focused mainly on providing a death benefit.

- Information you provide on the insurance application and other forms; - Information from your insurance agent; - Information from your transactions with us; - Information from consumer reporting agencies; - When you apply for a life insurance policy, individually identifiable health information from your health care providers; and - Information from our website, such as site visit data and information collection devices (cookies).

We can also show you how the quoting process works, and give more focus on the details such as what type of life insurance policy is right for you, how much death benefit coverage you need for your survivors and their needs, and which of the many available life insurance carriers will be able to serve you best.

Gather two years worth of at least three accounts for which you have made consistent and on - time payments, such as a utility bill, a life insurance policy, or a rental contract.

Being organised in managing your financial documents such as life insurance policies and your house title can mean you can lay your hands on anything you need in a crisis quickly, and also gives you a chance to review what you have in order and what you may still need to organise.

Permanent life insurance policies provide a death benefit as well as other unique features such as lifelong protection and the ability to accumulate cash values on a tax - deferred basis, similar to assets in most retirement - savings plans.

As such, it is a good idea to read as many term life insurance company reviews as you can before settling on a policy.

With a second to die life insurance policy the family can choose to split up the family estate in such a way as to ensure the children are all equally compensated as heirs, but yet given significantly different assets based on their interests and strengths.

Structuring the life insurance on a key person in such a way as to incentivize the key person to remain at the business until fully vested in the life insurance policy is a fantastic way to promote strong employee loyalty.

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.

Often, these policies are clubbed with various other investment products such as health insurance; mutual funds etc. to increase the return on investment while life cover stays in place.

Beneficiaries can be named on policies and plans such as life insurance, RRSPs, RRIFs (Registered Retirement Income Fund), and TFSAs (Tax - Free Savings Account) and those funds can pass directly to a beneficiary without going through probate.

For these folks diagnosed with a condition, like Type 1 diabetes or type 2 diabetes diagnosed at a young age, or some type of congenital heart defect, or one of a hundred other such pre-existing conditions, it may make more sense to lock into a whole life insurance policy when given the chance, rather than take the risk of never being able to qualify for ordinary life insurance again later on in life.

Mortgage protection policies typically include benefits unavailable on straight life insurance products, options such as the return of premium, critical illness availability, terminal illness, confined care riders, and a simplified non-medical application process.

That is because with term life insurance, the insured is protected with a death benefit, and there are no other «bells and whistles» included on the policy, such as a cash or savings component.

Since whole life insurance policies are designed to last until death, you shouldn't just stop paying because this may lead to complicated issues, such as unwanted taxes on your life insurance.

Term life insurance policies come with a «minimum» and «maximum» amount as determined by both parties based on variables such as age, health, and personal finances.

In most cases, life insurance purchased with after - tax dollars isn't taxable to you or beneficiaries, with a few exceptions such as interest on installment payouts, some cash withdrawals, or policy surrenders.

If, however, the policyholder chooses to do so, he or she can either borrow or withdraw the money that is in the cash value component of a burial insurance policy — and they can do so for any reason, such as paying off large debt obligations, supplementing their living expenses in retirement, or even for going on a cruise or taking a vacation.

Indexed universal life is a cash value life insurance policy that is credited interest based on certain market indexes such as the S&P 500, NASDAQ, DOW, EURO STOXX and HANG SENG.

And on certain life insurance policies, such as those used to fund buy sell agreements, irrevocable life insurance trusts or key person business insurance, a better rate class may mean thousands of dollars in savings.

If will find the largest impact on rates will be reflected when you apply for Term life insurance or any of the other policies such as permanent Universal life plan designs.

While it is possible to obtain credit life insurance individually, this policy is usually sold to creditors (such as financial institutions, banks, and companies selling pricey items on installment plans) on a group basis.

One of the first items on the agenda is to calculate the cost of affordable life insurance in various policy types such as Term, Universal and Whole Life insuralife insurance in various policy types such as Term, Universal and Whole Life insuraLife insurance.

In cases like these that have the potential to become more complicated later on down the road, many times the «business» will elect to take out a permanent cash value life insurance policy, such as indexed universal life, on the individuals in question rather than try to make predictions on which term length would be most appropriate.

A term life policy is often the choice when your life insurance protection needs are higher for a period of time, then drop down to lower levels in later years, such as when your children are grown up and on their own.

The fixed indexed universal life insurance policy allows the cash component to experience growth that is based on an underlying market index, such as the S&P 500 — yet, in times of a market downturn, the policyholder won't lose value in their cash component.

Cash that is saved in a life insurance policy can be used for any number of purposes, such as providing funds to loved ones for college expenses, weddings, or even a down payment on their first home.

With a variable universal life insurance policy, the return on the policy's cash value is based upon the performance of underlying equity investments such as mutual funds.

Sagicor's fixed indexed single premium whole life insurance policy can allow the policyholder to reposition certain low - interest producing assets such as CD's (certificates of deposit), or money markets — and possibly even a fixed annuity — and obtain the opportunity to earn a higher return on the cash value in the policy.