Sentences with phrase «than the death benefit requires»

Luk says some entrepreneurs may go further and consider a universal life plan, in which the policyholder pays more into the policy than the death benefit requires.

Not exact matches

If you list more than one primary beneficiary on your application, you will be required to list what percentage of the death benefit each beneficiary is to receive.

Don't assume that your agent will tell you that you may pay more in premiums than your beneficiaries will get back in death benefit; very few states have laws that require this disclosure.

If you list more than one primary beneficiary on your application, you will be required to list what percentage of the death benefit each beneficiary is to receive.

These plans are definitely not for everyone, and will most likely require a very knowledgeable agent, and both a tax and financial professional, to ensure the long term benefits are properly organized, especially when used for something other than permanent death benefit.

Also, the available death benefit amounts tend to be much lower than those available for term policies which do require a medical exam.

As noted previously, this policy is a no - go immediately if you require more than $ 10,000 as a death benefit.

Even after you have passed away, most insurers will allow the death benefit to be spent on whatever is required rather than forcing your loved ones to spend it in certain areas.

Requires a statement that the nonforfeiture values and death benefits are not less than that required by law.

The death benefits offered are relatively small, and the costs per $ 1,000 of coverage are higher than for policies that require a medical exam.

The death benefit that your loved ones will be able to receive upon your passing will most likely be less than that offered by a policy that requires an exam.

If your percentage of FEV1 is less than 40 %, your choice will more than likely be a guaranteed issue life insurance policy which typically requires a 2 - 3 year waiting period that you will need to outlive before the whole death benefit is in effect.

If you simply bring it up in terms of planning for you and your spouse's future, or elder members of your family that might require expensive care, you can speak about life insurance as a planning tool rather than a death benefit.

Term life requires the least outlay per year, for the same death benefit, but delivers less than permanent policies.

Paid up additions can still be applied in most cases; however, the thing to be aware of is this approach will generally require more death benefit than if premiums are spread out over a period of time.

The policy usually pays out limited death benefits during the first few years, and typically requires premiums that are somewhat higher than standard life insurance policies.

A smaller policy with up to a $ 50,000 death benefit will require less proof of insurable interest than a policy with a death benefit of $ 250,000.

If you're seeking a simplified issue policy, — for which only a medical questionnaire is required, rather than a full exam — a wider range of death benefits are typically offered for simplified issue guaranteed universal policies than for simplified issue whole life insurance (which typically have a maximum face value of around $ 50,000).