Sentences with phrase «to convert one's policy»

A term conversion is the process of converting your policy into permanent insurance without a medical exam or underwriting.

If you're allowed to, and don't convert the policy at the age of maturity, the coverage will expire, leaving them with no coverage.

The majority of term life insurance policies provide the option of converting the policy into a permanent life insurance policy like a whole life insurance.

With a convertible policy, even if you can not qualify medically for life insurance anywhere else, you can always convert your policy without evidence of good health.

If you stop paying premiums after 5 years, then your policy will be surrendered automatically, unless you have already opted for converting your policy into a paid - up policy.

These policies also provide the policyholder with the ability to convert the policy over to permanent life insurance.

With convertible insurance, the policyholder only needs to pay his or her insurance premiums on time to retain the option of converting the policy from term to permanent.

You can also convert the policy to permanent coverage before expiration.

You can always convert the policy later on to permanent life insurance.

Being able to convert the policy later on when the child matures will ensure they can protect their own families with a policy.

There are a lot of people that decide they want to convert their policy after purchasing a term plan.

The steps in converting your policy are fairly straightforward.

Learn whether or not converting your policy if a good idea.

If I were to leave my place of employment and convert these policies so that I may take them with me.

Some term policies have built into it an option which you may exercise which would allow you to convert your policy within specific periods of time.

The price that you will pay for your newly converted policy depends on the age at which you decide to make the conversion.

Talk to your insurance agent and a financial advisor to be sure that a permanent policy is right for you before converting your policy.

The premiums are extremely high and I am wondering if I have any options to still convert this policy.

And when you do convert your policy, you can expect your premiums to increase as you'll have permanent and not term insurance.

If you are nearing the end of your term, consider converting your policy and selling it.

The price that you will pay for your newly converted policy depends on the age at which you decide to make the conversion.

Just check your policy and see if it talks about converting the policy to a permanent option.

However converting the policy is not mandatory it will depend on the insured if he wants to retain the same coverage as long as the insured is alive.

Most companies allow you to convert your policy anytime during your term or until the age of 70, but some life insurance policies do not allow conversion options after age 65.

They can simply convert the policy to a permanent form of life insurance.

When you are ready to convert your policy talk with your company.

Instead, the company converts the policy to permanent coverage based on your original health class rating.

At the end of the Term, you will likely be able to convert the policy through the same company.

Having the ability to convert the policy offers nice flexibility as needs or financial goals change.

However, you will need to take steps towards converting your policy before it reaches its expiration date.

The company would convert the policy based on your original health class rating, with an adjustment in premium based on your current age and the particular policy you are converting to.

What they didn't want was sick people converting their policies long enough to be able leave the death benefit to their beneficiaries.

When a life insurance client converts their policy, the agent makes commission again, something they haven't had since the 2nd year of the term policy.

For someone who is in poor health, unfortunately converting your policy might be the only option available to you.

Many insurers will provide them with the option to convert the policy at expiration, making this even more attractive.

Even if you can not qualify medically for life insurance anywhere else, you can always convert your policy without evidence of good health.

The conversion deadline will be listed in your policy, and this is the absolute deadline for converting your policy to a permanent plan.

Some of these provide the ability to convert the policy over to a permanent insurance product, within certain guidelines.

A convertible policy allows you to convert your policy from term insurance to whole life insurance without any questions asked.

If you want to convert the policy after the term comes to a close, this can be achieved and you'll be left with a whole life insurance policy.

If you currently own a term policy and you are interested in converting the policy, we can help you get the best deal for your money.

Some term policies allow you, through the contract, to convert the policy within a certain number of years.

If you like the idea of converting your policy, make sure that converting is an option with your term policy before you buy as not all policies have this option.

Since term life offers a conversion option, you can always convert the policy to permanent life coverage down the road when money is not as tight.

Children's term insurance rider: Child term rider offers one price protection to cover all your kids, allowing them to convert the policy later in life.

If you are nearing the end of your term, consider converting your policy and selling it.

If you'd just like to lock in the lowest price on lifetime coverage, now is a great time to think about converting your policy.

With many companies, if you don't convert this policy, you will have no more insurance after the 5 year period has passed.