Sentences with phrase «to convert to a permanent policy»

Many of these policies can be converted to a permanent policy at the end of the term, or can be canceled at any time.

The rider is available on both the insured and an additional insured and can be converted to a permanent policy if lifetime coverage is needed.

This option guarantees you the right to convert to a permanent policy without the need for a medical exam or health questions.

Most of these policies can be converted to permanent policies within specific periods of time, depending on the company you do business with.

Most term policies can be renewed (at higher premium) at the end of the term or may be able to be converted to a permanent policy during the term period.

If they don't they all have a built in clause which allows the owner to convert to a permanent policy later if this is his or her desire.

The coverage provided by the rider can be converted to a permanent policy as long as a plan of insurance is available at the additional insured's current age.

This is sort of a hybrid between temporary and permanent insurance because your term life policy can easily be converted to a permanent policy of equal value whenever you choose.

Another plus about term life: many policies can be converted to permanent policies such as universal or whole life for a period of time.

The rider can be converted to a permanent policy for up to five times the rider face amount.

By converting to a permanent policy in time, she would not need a new physical exam and would have the same coverage at a lower annual premium than that of a new policy.

We generally recommend converting to a permanent policy instead.

Most term policies include a conversion option and allow you to convert to a permanent policy regardless of your health as long as you do so before the deadline on your current policy.

Alternatively if you have a term life insurance policy, consider converting it to a permanent policy before the conversion period ends which is typically around the age of 65.

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.

Though you can only convert to a permanent policy, such as whole life or universal life insurance, you don't have to demonstrate that you're in good health.

You can convert it to a permanent policy before the term runs out or you may buy a new policy later on, that is if you can still qualify.

The company offers term lengths ranging from five to 30 years, with the option to renew through age 95 and convert to a permanent policy through age 75.

This allows the policy to be converted to a permanent policy sometime typically before age 70 or before the term expires.

Also, the time you have to convert to a permanent policy extends to fifteen years (seven in the ten - year policy).

If you have term life insurance, it may also be a good time to consider whether converting to a permanent policy may be right for you.

«Convertible» term policies can be converted to permanent policies covering an entire life.

The idea is to convert it to a permanent policy once you feel you can afford it financially.

I recommend that you give converting to a permanent policy some thought.

You would convert to a permanent policy like universal life insurance, variable universal life insurance or whole life insurance.

You can convert to a permanent policy at the same health class you have with your current policy.

That rate is guaranteed for 10 yrs and you have the option to convert to a permanent policy without any underwriting anytime during those 10 yrs.

You have the right to convert to a permanent policy within specific periods of time.

Most families choose term life insurance as it is more affordable and can be converted to a permanent policy later on.

Most term insurance policies offer a level premium, death benefit, and the ability to convert to a permanent policy if your needs change.

The rider can be converted to a permanent policy for up to five times the rider face amount.

At the end of that period the policy ends, that is if you did not convert it to a permanent policy in the meantime.

Most term policies include a conversion option and allow you to convert to a permanent policy regardless of your health as long as you do so before the deadline on your current policy.

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.

Though you can only convert to a permanent policy, such as whole life or universal life insurance, you don't have to demonstrate that you're in good health.

A term life insurance policy can always be converted to a permanent policy through your broker or agent.

If you have a term life insurance policy and are considering converting to a permanent policy, your options aren't just the company you currently hold your term insurance with now.

You can also convert to a permanent policy with no evidence of insurability during your policies term.

Additionally, Protective offers a unique universal life policy that acts like a term life policy until the end of the term, then converts to a permanent policy for the same price.

An advantage of this feature is that you wouldn't have to complete another application or undergo another paramedical exam to prove insurability when converting to a permanent policy.

So if you have a West Coast Life term insurance policy, you can still convert to a permanent policy under Protective's suite of permanent products.

Term insurance may also be converted to a permanent policy which is a convenient option should your health deteriorate and you want to continue coverage.

If you go through major life changes — like getting married, launching a business, or taking in an elderly family member who will rely on you — you can change your coverage by converting to a permanent policy or applying for an additional term policy.

You might be able to continue coverage beyond the original term at a higher premium, or possibly convert to a permanent policy (subject to age restrictions and policy minimums) while the policy is in force.

Meaning, the policy can always be converted to a permanent policy no matter what health conditions the primary insured has developed over the years because the policy is converted at the original rate class qualified for.

For example, cash value from a permanent policy can be used for purposes other than the original intent of the insurance.1 Also, many term policies can be converted to a permanent policy over time, and some policies provide the option to increase insurance without a medical exam.2

If your circumstances have changed and you feel you may need the genuine feelings of serenity that originates from knowing you have assurance for whatever is left of your life, then converting to a permanent policy now may be the best bet.

If you get close to the end of the 20 year period... say about 15 years... and feel there is a need to keep your life insurance for a longer period of time you can always convert to a permanent policy even if you are not insurable.

About the only thing that kept New York Life from sharing the top spot was its conversion privilege stipulation: If you decide to convert to a permanent policy after the first 10 years of your term, you'll need to purchase a separate rider.

With blended life insurance, the dividends are used to buy more permanent coverage, which means the payout on the policy will stay the same until the policy is completely converted to a permanent policy.