Sentences with phrase «term coverage expire»

If your need was temporary and has expired, then you can let the short term coverage expire.

«Some people may see their term coverage expire without converting it to permanent coverage in time for perhaps a new financial need,» Lauber says.

When the term coverage expires, your protection ends, too.

Since you are comparing term coverage to whole life, as long as you practice saving the difference, when the term coverage expires you should have enough saved to be of similar or greater value to the death benefit.

Not exact matches

To minimize premium costs, he suggests considering a term life policy that expires when your payments are scheduled to end and to obtain just enough coverage to extinguish that debt.

«[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 shall specify that it shall remain in force, and may not be replaced, canceled, withdrawn, or in any way modified to reduce the minimum standards set forth in this part, or to change the extent of coverage by the insurer or the carrier, nor expire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.»

The Mercedes - Benz Extended Limited Warranty offers additional coverage with term options for up to three years after the original New Vehicle Limited Warranty expires.

After the term ends, your coverage expires unless you choose to renew.

If death occurs after the «term» of coverage expires, no benefit is payable.

Term life provides coverage over a set period, say 15 to 30 years, and then expires.

The policy is convertible term life insurance, which allows the owner of the policy to convert all or a portion of the coverage to whole life insurance coverage before the term policy expires or age 65.

Once the term expires, the coverage ends.

Secondly, most term policies cease renewing at around that age, i.e. even if you keep your existing term policy, eventually the coverage will simply expire.

(1) The reason for such a low percentage of term insurance coverage actually paying out is either due to a policy lapse for non-payment of premiums, the policy is cancelled or the term expires.

If there were no conversion options, your term policy would expire, and you'd be left with no coverage.

Once this term has expired, the policy holder will need to «re-qualify» for coverage at his or her then - current age and health condition.

If the insured person is still alive at the end of the policy term, the coverage expires and typically no portion of the premiums are returned to the policyholder.

Since term coverage eventually expires, these policies are best for short - term needs which won't last your entire life.

It's usually a term policy, which means the coverage expires after a certain number of years.

But if you own a return - of - premium policy, dropping the policy before the full term has expired means that you will have paid a high price for your term insurance coverage and the premiums you paid won't be fully refunded.

But if you think there's a possibility that you might need the coverage for a long time, then remember that if you want to renew your term policy after it expires or buy a new term policy at that time, your age, health status or other factors may make coverage very expensive.

Term life offers coverage for a set period of time and then expires, and pays a death benefit to beneficiaries if the policyholder dies while the policy is in effect.

Common reasons to sell your policy • Policy no longer needed • Term Life Insurance policy length of coverage is about to expire • Struggling to keep insurance premiums • Life - threatening illness • Changes in estate planning needs

There is the Very Real Risk of becoming uninsurable when the term insurance coverage expires.

This is temporary coverage and once the term has expired, the insured will need to re-apply for a policy at his or her current age and health condition.

Premiums Earned - the portion of premium for which the policy protection or coverage has already been given during the now - expired portion of the policy term.

These policies do not have a time frame, or «term» on them, so the coverage does not expire after a certain amount of time as it does with term insurance.

If you still need coverage after your term life policy expires, your carrier may offer the option to convert it to a permanent life insurance policy — without taking a new medical exam or answering health questions again.

Or if you have an expiring term policy, you may want to convert it to a whole life policy to help ensure you maintain coverage.

But if you own a return - of - premium policy, dropping the policy before the full term has expired means that you will have paid a high price for your term insurance coverage and the premiums you paid won't be fully refunded.

However, final expense insurance costs more per unit of coverage than term life insurance that runs for a specific amount of time before expiring.

After the policy expires it becomes annual renewable term or you can convert the term to permanent coverage prior to expiry.

Has an Expiry Date — If you still need life insurance coverage after the term expires, you might find it hard to get term life coverage as you get older.

(Term life insurance policies are only in force for a certain, set period of time such as 10, 15, 20, 25, or 30 years and then they will automatically expire, leaving the insured to have to re-qualify for coverage if they want to remain insured at their then - current age and health condition).

But if you think there's a possibility that you might need the coverage for a long time, then remember that if you want to renew your term policy after it expires or buy a new term policy at that time, your age, health status or other factors may make coverage very expensive.

Keep in mind that when a term expires, you have to renew the policy if you want to continue coverage.

They all exist to provide lifetime life insurance coverage and they do not expire like a term policy.

However, once the «term» has expired, the coverage disappears and (in most cases) family members can be left with nothing.

Lifelong Protection: If we consider a term life policy, it expires when the coverage ends and then one is left with the choice of buying a new policy or alternatively let it expire.

They will take out the majority of their coverage in term life insurance and then add on a smaller amount in permanent coverage so they will always have something to fall back on once the term life insurance expires.

Most people would not buy Annually Renewable initially, but if you have a Level Term about to expire and have health issues, Annual Renewable Term could be a way to maintain coverage.

Unlike a term policy, which as its name suggests has rates and coverage based on a set term or number of years, a Permanent Policy does not expire.

Renewable Term Insurance is known for a special feature in accordance with which when your protection expires at the end of the designated term, you can renew the coverage but at a higher price conditioned by your older Term Insurance is known for a special feature in accordance with which when your protection expires at the end of the designated term, you can renew the coverage but at a higher price conditioned by your older term, you can renew the coverage but at a higher price conditioned by your older age.

These are great reasons to consider lifelong coverage over expiring term coverage.

They tend to buy the majority of their coverage in term life insurance and also add a smaller amount of permanent coverage so that they will have something when the term life insurance expires.

They will buy the majority of their coverage in term life insurance as well as a smaller amount of permanent coverage they always have something in place to fall back on when the term life insurance expires.

They tend to buy majority of their coverage in term life insurance and add on a smaller amount in permanent coverage so they have something to depend on once the term life insurance expires.

One thing to keep in mind about Term life insurance, is that when a policy expires, and you want coverage to continue, you will have to renew it.

Combining term and permanent life insurance: For some, the combination of term and permanent life insurance can be a way to get the amount of coverage you need, lock into a fixed rate, and secure a policy that won't expire.

Term provides coverage for a specific time only, while permanent life insurance offers a lifetime of protection that won't expire as long as you continue to pay your premiums.