Sentences with phrase «term policy conversion»

I like to refer to term policy conversion as the ultimate do - over.

A term policy conversion can be requested at any time within the duration of the guaranteed level premium period — up to the attained age of 70 — whichever comes first.

With term policy conversion, you do not need to show evidence of good health.

I like to refer to term policy conversion as the ultimate do - over.

Not exact matches

Since life is unpredictable, term insurance often has an added feature: the ability to convert the term policy to permanent coverage within a certain conversion period — for example within the first 10 years of a 20 year policy.

He is referring to an important component of some, but not all, term life insurance policies — the ability to convert all or part of the term policy, during the conversion period, into permanent life insurance, irrespective of the policyowner's health or proof of insurability.

Just keep in mind that the conversion period doesn't last the entire length of the term policy, so you'll need to check when it closes.

And this «conversion priviledge» that's available * for free * on many but not all term policies allows you to move to a permanent insurance policy later by locking in your health status now.

Some term insurance contracts have a convertibility provision which allows «conversion» to a permanent policy without submitting additional medical evidence of insurability.

Like term insurance, LifePhases offers the flexibility of conversion to a permanent policy offered by Assumption Life.

AUL's term life insurance includes a conversion option that allows the insured to convert all or a portion of the policy to permanent coverage.

Examples of common riders are: accident death benefit (higher payouts in case of death through an accident) and term conversion (in case you want convert your universal policy into term).

The term conversion rider is great for young people just starting out with a term life insurance policy, who may be considering the benefits of permanent coverage but are not quite yet willing to make a commitment.

Term conversion rider is a flexible way to buy a cheaper option with the availability of converting it to permanent insurance policy down the road.

The term conversion rider is an excellent rider that you should add to any term policy if it does not come standard.

A partial term conversion is when you take a portion of your term policy and convert it to a permanent policy.

Case Study Daniel's life insurance policy had a term conversion rider.

Some insurance carriers require a minimum amount of coverage to be left on the original term policy if you are doing a partial conversion.

If you're looking for the flexibility to convert your term policy into a permanent policy, a term conversion rider can make that process easier than if you were to buy a new permanent at the end of your term policy.

The policy is fully convertible by the end of the term conversion period or age 70, whichever comes first.

Her policy does include a term conversion option; however, Eliza is now at a healthy weight, has normal blood glucose levels, and her risk of diabetes complications is much lower.

Alternatively, the owner may choose to exercise a conversion option if the policy is convertible term life insurance.

The main reason you would do a partial term conversion is if you could not afford the premiums on a full conversion or don't require the full amount converted to a permanent policy.

Because her policy has a term conversion option, her medical diagnosis does not matter since she does not have to prove insurability.

The primary benefit of a conversion option attached to term life is that the insured can convert the policy without proof of insurability.

Keep in mind if you do a partial conversion, your term policy must still meet the plan's minimum face amount.

The term conversion rider, normally built - in to every life insurance policy, allows you to convert a term life insurance policy into a permanent life insurance policy without having to take another medical exam.

Conversion Benefit TruStage Term Life Insurance policies have a conversion privilege allowing you to switch all or some of your coverage to a permanent life policy, regardless of your health.

If you choose a term policy, make sure you know what the maximum age of conversion is to a permanent plan.

If you have to choose a term life policy, then make sure it has a conversion option included.

Our term policies are convertible to one of our permanent life insurance products at the time of conversion with no medical examination or blood tests required.

It should be noted that MassMutual's term life insurance policy provides a conversion option.

You have the right to convert all or part of your CoverMe Term Life insurance policy to a permanent insurance plan without providing medical information or undergoing a medical examination at the time of conversion.

Granted, term life insurance typically has a conversion option, which will allow you to convert your policy to a permanent life insurance.

Convertible term life insurance is simply a term life insurance policy with a term conversion rider added on.

Because term conversion riders are so common and usually automatically included, these policies are just referred to as a convertible term policy.

There is also a conversion privilege where the insured can convert his or her term life policy to another North American Life policy that is permanent — and, they can do so without the need to take a medical examination.

IMO this conversion priviledge is often overlooked and seldom talked about, but is a vital part of a term policy.

Convert your CoverMe Term Life insurance policy to permanent life insurance at any time before age 70 without providing medical information or undergoing a medical examination at the time of conversion — some restrictions apply

The viatical company just uses the conversion priviledge (that most, but not all term policies have, included at no charge) to convert the term insurance policy to a permanent or whole life policy.

Luckily, most term life policies come with a standard conversion option that turns it into a whole life policy, which lasts as long as you need it.

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

Term conversions allow you to convert to a permanent life insurance policy with no evidence of insurability.

There are benefits like conversion options that could be poor or non-existent for some term life insurance policies.

Term conversion riders are usually included in every term polTerm conversion riders are usually included in every term polterm policy.

If you want continued protection, though, a term conversion rider lets you convert a term life insurance policy into a permanent policy without taking another paramedical exam — a welcome adjustment, because taking an exam when you're old enough for your term policy to have expired would likely make the premiums prohibitively expensive.

He was ready to give up but then remembered that his current term policy had a conversion option, which meant that he could convert all or part of his existing policy to a permanent plan with no evidence of insurability.

Insurance companies that provide the conversion option with their term policies will provide at least one permanent product to convert to.

Also, the insured may also wish to take advantage of the conversion option, which can allow him or her to convert the term policy over into a permanent form of life insurance coverage.

The conversion option is a valuable addition for many reasons, and if you are in the market for a term life policy, you should check to be sure it includes this option.