Sentences with phrase «to outlive the policy»

A conventional term plan pays out nothing in case the insured outlives the policy term.

You must especially consider the term length so you do not outlive your policy when you still need the coverage in force.

Also, there are no benefits payable in case the life insured outlives the policy period.

This rider provides that if the insured outlives the policy term, all premiums paid to the insurer will be returned in a lump - sum payment.

The only problem is the chance of outliving the policy term and then being uninsured.

Especially so you don't outlive the policy when you still need it.

Usually, a return premium policy returns all of the paid premiums if the insured person outlives the policy term.

Those who outlive the policy get to enjoy the peace of mind of having a life insurance policy while having paid a net $ 0 for it.

Outlived policies mean pure profit for insurance companies.

The return of premium rider allows the policyholder to collect all premiums paid into the policy if the policyholder outlives the policy period (typically 20 or 30 years).

There are many insurance companies, offering return of premium term plans, also known as, TROP, in which, if the life assured outlives the policy term, will be eligible to receive all the premiums paid till the end of the policy.

If the partners outlive the policy, the premium refund can be used to help fund a business buyout.

Let's assume you're buying short term insurance plan at an age of 20 years without disclosing your medical conditions with the hope that you will easily outlive the policy period.

Outliving your policy begins with choosing the wrong plan design in the very beginning.

Outlived policies always mean pure profit for insurance companies and at the same time you have no insurance in force.

That is because the statistics will show the insured will probably outlive the policy.

You always want to carefully consider your purchase carefully so you can purchase the very best plan design for your needs so you do not have a problem down the road such as outliving the policy as I explained earlier.

We are aware that the initial decision by past governments to pay allowance to students in various training institutions was to motivate and incentivise students to promote entry but looking at the current status of those institutions that initial decision has outlived its policy usefulness considering the level of competition in the admission process.

That happens because folks outlive their policy, or they drop it along the way.

In other words, do not use term insurance (unless you are considering lifetime guarantees) to try to cover your life expectancy as you will still likely outlive your policy.

However, if the insured individual outlives the policy's term, the life insurance coverage ends.

Berlin says whole life's advantages are that you don't have to worry about outliving your policy (as is possible with term life) and there is the «forced savings» component of the cash value account, which grows tax - deferred.

That is where the Universal and Whole life work out great because you will not take a chance at outliving you policy and then having no insurance at all.

That's a good thing because the premiums of the people who are lucky enough to outlive their policies subsidize the death benefits of those who pass away while their plans are in effect.

Return of Premium — If you are confident that you will outlive your policy then you should consider Return of Premium term life insurance.

Still, a full refund upon outliving the policy is an attractive feature so it's worth considering.

These policies will also typically last your entire life, so it's impossible for you to outlive the policy death benefit period.

There will be no stated benefits if the policy holder outlives the policy period.

When purchasing life insurance to avoid estate taxes, you must outlive your policy for your family to benefit from the coverage.

If you choose an option other than to 121 you run the risk of outliving your policy).

You must especially consider the term length period so you do not outlive your policy when you still need the coverage in force.

>> Many insurers offer a «return of premium» rider that would provide for the insurer to return all premiums paid to the business if the key person outlives the policy term.

The return of premium rider can be a fantastic living benefit for an insured who outlives their policy and then receives a substantial refund of the premiums that can be used for any reason such as investing it in their retirement plan, paying off a mortgage, or buying additional insurance.

This term insurance plan not only aims at making life financially more secure for the family of the policyholder but also provides the advantage of earning back the premiums if the policyholder outlives the policy term.

There is no maturity benefit or survival benefit offered that means if the life assured outlives the policy term, there is no payout.

This is so you do not outlive your policy when you still need the coverage in force.

There's no payout if the life assured outlives the policy term.

If the partners outlive the policy, the premium refund can be used to help fund a business buyout.

They can easily outlive the policy and then end up will no life insurance when they need it most.

Outlived policies mean pure profit for insurance companies and at the same time you have no insurance in force.

Outliving your policy begins with choosing the wrong plan design from the very beginning.

Outlived policies always means pure profit for insurance companies and at the same time you have no insurance in force.

If you are in the younger age classes such as your 20s or 30s, Term life insurance might not be the best solution by itself because you will probably outlive the policy and find yourself still needing to be covered.

If the life insured outlives the policy's maturity date, he or she receives a maturity benefit, which is equal to the guaranteed sum assured plus the simple reversionary bonus and terminal bonus (if any).

While this makes term life insurance significantly less expensive than permanent life insurance, it also means that you will not receive any benefit if you outlive the policy.

If you outlive the policy, you'll get refunded your paid premiums minus any loans plus interest.

If you outlive the policy, the refunded premiums can be used to remodel the house.

If you outlive the policy, the refunded premiums can go toward paying off student loans.

If you outlive the policy, you are refunded all the premiums you paid tax - free.