Sentences with phrase «than term life policies because»

Premiums on Whole life policies are much higher than Term life policies because the premiums stay fixed as the client ages.

Whole life policies also tend to be more expensive than term life policies because they generate cash value.

Whole life policies also tend to be more expensive than term life policies because they generate cash value.

Not exact matches

However, if you need more life insurance and have since developed health issues, converting to permanent will likely be cheaper than applying for a new term policy altogether because at that point your health will be taken into consideration.

However, whole life insurance premiums are more expensive than term life insurance because of the additional cash component and would need to be considered when deciding on purchasing a whole life insurance policy.

Because it comes with a «money back guarantee» if you outlive the policy, it's more expensive than typical term life insurance.

Because the death benefits decrease over time, these policies tend to be more affordable than a standard term life insurance policy.

Jeremy Hallett, founder of online insurance marketplace Quotacy, said in an interview that premiums are typically 10 times higher for whole life policies than they are for term life policies with the same death benefit because permanent insurance provides coverage for life with guaranteed level premiums.

Premium payments are also fixed for the term of the policy, but because a death benefit payout is expected more often than not, premium rates are often higher than with term life insurance.

With term life, there is death benefit protection only, with no cash value build up — and because of that, term life insurance can frequently cost less than a comparable permanent life insurance policy (all other factors being equal).

However, these policies are not always cheaper than say, a 10 - year term policy, because the life insurance company has to recover all of it's costs right up front.

Premiums are often much higher than a term life insurance policy with the same amount of coverage because you're paying for an insurance policy as well as putting money into the cash value portion of the policy.

Because term life is so affordable — a healthy 30 - year - old can get a 20 - year, $ 1,000,000 policy for under $ 40 a month — it's enticing to pay for more coverage than you actually need.

Some clients will even get two policies from different carriers if they need more than 500k of life insurance because you can't beat the benefit of securing term life insurance online rapidly with no medical exam.

It's also why we will typically recommend folks avoid applying for a simplified issue life insurance policy simply because these «types» of life insurance policies are often times more difficult to qualify for than a fully underwritten term or whole life insurance policy.

Because of that, term life will frequently be cheaper than a permanent policy, with all other factors being equal.

Universal life insurance will also be more expensive than term life because of the investment portion of your payments for this kind of policy.

Because there aren't a lot of «bells and whistles» on term life insurance coverage, the premium cost for these policies will typically be less than that of a comparable permanent life insurance policy — with all other factors being equal.

The premiums are much lower and the credit requirements of the purchaser also less stringent because the customer is assuming a greater risk than with a whole life policy — that if they die it will be within the pre-specified term.

The reason that coverage amounts are much lower than other whole life policies or even term policies, is because carriers need to mitigate risk.

Because the odds are high that you will in fact live past when the term expires, these policies are much less expensive than «permanent» life insurance policies that never expire.

Permanent life insurance is more expensive because of the cash value accumulation feature and can easily cost 10 times more than what you would pay for a term policy.

Because the policy is written for a specified value, it is usually easier to get than traditional term policies, and you will not have to undergo a medical exam to qualify for most mortgage life insurance policies.

Over time, the premiums for a whole life policy will usually be lower than they would be for a term life policy because a term policy's premium will increase when the term has expired.

However, these policies are not always cheaper than say, a 10 - year term policy, because the life insurance company has to recover all of it's costs right up front.

Because these plans are permanent coverage, they are going to be more expensive than term life insurance policy, but there are still several ways that you can get an affordable whole life insurance policy for your family.

Now, most insurance agents within the U.S would usually try to sell whole life insurance policies to you because they offer more security and protection benefits, but they probably won't tell you that the premiums cost more and that they receive more commissions on whole life than on term life insurance policy.

Term life has more flexibility in coverage than permanent life policies because it offers temporary coverage for a predetermined period of time and is more affordable for families on a budget.

Because term life insurance only pays out if the policyholder's death occurs during the term of their coverage period, policy premiums are generally lower than whole life insurance.

Their premiums are often lump - sum payments and significantly higher, especially early in, than that of a term life policy, but because once the investment has been made, it is made, they can be used as security for loans and leveraged in a variety of ways to free up liquid capital, and their cash value is tax deferred.

That's why a term policy is better than whole, because it only covers the amount of time you actually need life insurance.

I think the no lapse guaranteed universal life may be the better option than a fully underwritten term life insurance policy, because it does provide guaranteed lifetime coverage.

Because of these two factors, whole life insurance is roughly ten times more expensive than a term policy.

Because they won't expire, whole life policies are going to be drastically more expensive than a term insurance policy.

Because there is no investment component to a term life policy, the premiums are much lower than a similarly sized whole life policy.

We are going to look at rates for term insurance policies because term policies are much more affordable than whole life policies.

Premiums are often much higher than a term life insurance policy with the same amount of coverage because you're paying for an insurance policy as well as putting money into the cash value portion of the policy.

Because of these main benefits, premiums for this type of life insurance policy are typically higher than with term life.

Because you're essentially using your premium to both pay for your insurance and fund the investment part of the policy, and because the policy lasts well into your golden years (when you're more expensive to insure), whole life insurance is a lot more expensive thaBecause you're essentially using your premium to both pay for your insurance and fund the investment part of the policy, and because the policy lasts well into your golden years (when you're more expensive to insure), whole life insurance is a lot more expensive thabecause the policy lasts well into your golden years (when you're more expensive to insure), whole life insurance is a lot more expensive than term.

Because term life is so affordable — a healthy 30 - year - old can get a 20 - year, $ 1,000,000 policy for under $ 40 a month — it's enticing to pay for more coverage than you actually need.

A joint life insurance policy is a possibility, but it's not really the best option because of the expense (it's usually a permanent policy, so it costs more than term life insurance) and it can get confusing when you get into the difference between first - to - die and second - to - die policies and what to do if there's a divorce.

With term life insurance, there is death benefit coverage only, without any type of cash value or savings build up — and because of that, term life insurance can often be much more affordable than a comparable permanent life insurance policy option (with all other factors being equal).

Term life insurance rates are lower than permanent life insurance rates because the policy does not stay active for a lifetime.

These policies will always be more expensive on a month to month basis than any other type of term life insurance policy simply because your premiums get returned in the end.

When you convert to a permanent life policy, your premiums will increase because of your new age and because permanent policies are more expensive than term policies in general since they are designed to last forever and typically generate cash value.

Premiums for the new policy will be higher than the term policy rates since you would pay based on your current age at the time of converting your policy and because whole life costs more than term life.

Whole life premiums are much higher than term insurance premiums, but because term insurance premiums rise with increasing age of the insured, the cumulative value of all premiums paid under whole and term policies are roughly equal if the policy continues to average life expectancy.

Term life insurance is a popular product because people who may not have a lot of money to spend can protect their families» futures with term life insurance for a more affordable price than they can with a permanent life insurance polTerm life insurance is a popular product because people who may not have a lot of money to spend can protect their families» futures with term life insurance for a more affordable price than they can with a permanent life insurance polterm life insurance for a more affordable price than they can with a permanent life insurance policy.

Because whole life policies are guaranteed to remain in force as long as the required premiums are paid, the premiums are typically much higher than those of term life insurance where the premium is fixed only for a limited term.

Because whole life insurance plans are never going to expire, they are going to be more expensive than a term insurance policy.