Sentences with phrase «supplemental life insurance policy on»
If this is the case in your situation, one option is to purchase a supplemental life insurance policy on the private market.
https://www.lifeinsurance.org/ Not exact matches
Had the individual purchased permanent life insurance, he or she could have access to a potentially significant source of supplemental retirement income in the future (depending on the policy type), while preserving the death benefit in perpetuity (note, however, that the death benefit and cash value of a policy is reduced in the event of a loan or partial surrender, and the chance of lapsing the policy increases).
In addition, on certain policies with specific life insurance companies, the WOP rider will also waive premiums due on the supplemental life insurance riders, guaranteed insurability riders and renewable term riders.
A supplemental policy works the same way as most types of life insurance: You choose a coverage amount to purchase; make regular payments on the premium, and your beneficiary can receive a cash benefit when you pass away.
Deduction Amount A monthly charge in a universal life policy, deducted from the accumulation value on each deduction day, which is comprised of the cost of insurance charge and any other expense charge shown on the policy summary and any charge for supplemental benefits.
Having a life insurance policy as part of your employer - sponsored benefits can be one way to get low - cost supplemental protection for the people who depend on you for financial support.
On the other hand, if you need more life insurance than is provided as basic group coverage and have had trouble being approved for an individual policy, you should purchase supplemental life insurance.
With its current headquarters in the town of Waco, Texas, AIL has no grown to serve over 2 million policy holders across the United States, and have become one of the top providers of life insurance in the supplemental arena, focusing their efforts heavily on credit unions, labor organizations, and large scale associations.
Had the individual purchased permanent life insurance, he or she could have access to a potentially significant source of supplemental retirement income in the future (depending on the policy type), while preserving the death benefit in perpetuity (note, however, that the death benefit and cash value of a policy is reduced in the event of a loan or partial surrender, and the chance of lapsing the policy increases).
A monthly charge in a universal life policy, deducted from the accumulation value on each deduction day, which is comprised of the cost of insurance charge and any other expense charge shown on the policy summary and any charge for supplemental benefits.
In addition, on certain policies with specific life insurance companies, the WOP rider will also waive premiums due on the supplemental life insurance riders, guaranteed insurability riders and renewable term riders.
If you decide to not obtain life insurance through your employer, or if you are searching for a supplemental policy on top of what your workplace already offers, be sure to shop several different policies to get the best rate available.
If you're in a situation of economical security, you most likely have just a little supplemental income each month to invest on NBER life insurance policy rates.