Sentences with phrase «types of life insurance contracts»

But here's the good news: Despite the seeming complexity, there are major similarities between certain types of life insurance contracts: term insurance typically works the same from company to company, and so do different types of permanent or cash value policies.

Some of these types of life insurance contracts may include whole life, cash value life, term life insurance, variable life insurance and group life insurance.

Cash Value — Most types of life insurance contracts have a cash value which builds over the lifetime of the policy.

There are numerous types of life insurance contracts available.

But here's the good news: Despite the seeming complexity, there are major similarities between certain types of life insurance contracts: term insurance typically works the same from company to company, and so do different types of permanent or cash value policies.

There are numerous types of life insurance contracts available.

For those of you that are familiar with the Internal Revenue Code (IRC), or happen to know a little about the tax advantages of Life Insurance contracts, you probably know that IRC section 7702 defines the type of life insurance contract that receives tax advantages.

A traditional whole life policy is a type of life insurance contract that provides for insurance coverage of the contract holder for his / her entire life.

Not exact matches

You'd have to qualify for the life insurance contract, but if you did, you'd find that your returns were competitive with other types of investments of the day.

Universal Life Insurance: A type of permanent life insurance that combines term life insurance and an investment feature into one contrLife Insurance: A type of permanent life insurance that combines term life insurance and an investment feature into one Insurance: A type of permanent life insurance that combines term life insurance and an investment feature into one contrlife insurance that combines term life insurance and an investment feature into one insurance that combines term life insurance and an investment feature into one contrlife insurance and an investment feature into one insurance and an investment feature into one contract.

A life insurance policy is a type of paid contract between the owner and the insurance company.

Like other types of cash value life insurance policies which allow policy loans, most annuity contracts allow owners to borrow against the annuity contract's accumulated cash value.

The pro of whole life is that the higher price tag can be mitigated by getting this type of life insurance policy at a young age, adding specific riders that maximize the cash value up to, but not crossing the line, of becoming a modified endowment contract MEC, and allowing you to utilize that cash value in as little as 30 days.

This means that like other types of life insurance, the contract can either be funded by lump sum or series of installment payments.

This type of contract, usually sold by life insurance companies, pays a regular stream of income to the beneficiary or annuitant at some agreed - upon start date in the future.

Under both ERISA and IRS Codes, there are only two types of investments excluded: Life Insurance Contracts and Collectibles such as works of art, rugs, jewelry etc..

Whole life insurance defined: A whole life policy is a type of permanent life insurance where a contract is entered into between the policy owner and insurer, for a policy, which covers the life of the insured, for a specified insurance coverage amount, for the benefit of a beneficiary.

A type of life insurance where the contract is renewed each year with a premium payment.

While it's true that when it comes to workers» compensation, life insurance, health insurance, and other types of insurance, the contracts state the carriers must pay you what they have agreed to pay provided you meet specific qualifying criteria.

The type of life insurance most commonly taken out in a divorce scenario is a term life insurance contract.

Like any other type of life insurance, term life insurance represents a legal contract between the owner of the policy and the insurance company, and like any type of contract, it has a language of its own.

Because there are so many different types of life insurance policies and contracts available, there is a policy to work for just about every person, no matter the person's health status, financial status.

They typically do not sell for any other life insurance companies, although certain types of contracts now allow it.

These types of policies offer the advantage of guaranteed level premiums throughout the insured's lifetime at substantially lower premium cost than an equivalent whole life policy at first; the cost of insurance is always increasing as found on the cost index table (usually p. 3 of a contract).

Likewise, a legal contract such as life insurance must also have some type of consideration.

Term - life is a relatively cheap type of insurance policy that provides coverage for a set period of time, either a contracted number of years or to a named age.

Universal Life Insurance: A type of permanent life insurance that combines term life insurance and an investment feature into one contrLife Insurance: A type of permanent life insurance that combines term life insurance and an investment feature into one Insurance: A type of permanent life insurance that combines term life insurance and an investment feature into one contrlife insurance that combines term life insurance and an investment feature into one insurance that combines term life insurance and an investment feature into one contrlife insurance and an investment feature into one insurance and an investment feature into one contract.

However, there is a small percentage of Americans who are utilizing a life insurance contract in a much more consequential way, and this type of policy is called ordinary life insurance.

The size and structure of the payment in either a pension or a life insurance policy is determined by the type of contract held by the annuitant at the time of death.

Variable Universal Life A variable universal life policy is a type of contract you would purchase through a brokerage firm or insurance company that manages retirement assets as well as insurance, such as Vanguard, John Hancock, or Bankers Retirement SolutiLife A variable universal life policy is a type of contract you would purchase through a brokerage firm or insurance company that manages retirement assets as well as insurance, such as Vanguard, John Hancock, or Bankers Retirement Solutilife policy is a type of contract you would purchase through a brokerage firm or insurance company that manages retirement assets as well as insurance, such as Vanguard, John Hancock, or Bankers Retirement Solutions.

This means that like other types of life insurance, the contract can either be funded by lump sum or series of installment payments.

A term insurance contract is also the least expensive type of life insurance coverage and it allows for the insured person to provide for their beneficiaries in an economical way.

This guaranteed period or «term» that a death benefit will be paid (only upon death of the insured) is the reason this kind of insurance policy is called «term life insurance», Other permanent types of insurance contracts also exist such as whole life insurance and universal life insurance, which will never expire as long as all premium payments are made in a timely manner to the insurance company.

And, should you have contracted any type of adverse health condition, it could be that you are also uninsurable and will not be able to continue having life insurance coverage at all.

Whole life insurance defined: A whole life policy is a type of permanent life insurance where a contract is entered into between the policy owner and insurer, for a policy, which covers the life of the insured, for a specified insurance coverage amount, for the benefit of a beneficiary.

Group life insurance is a type of life insurance in which a single contract covers an entire group of people.

You'd have to qualify for the life insurance contract, but if you did, you'd find that your returns were competitive with other types of investments of the day.

A type of life insurance that has a death benefit that declines throughout the term of the contract, reaching zero at the end of its term.

Level - premium insurance is a type of term life insurance for which the premiums remain the same throughout the duration of the contract.

This has led to the creation of a number of special insurance riders that provide several different types of living and death benefit protection to contract holders.

It is the amount which a surety company gives a policy owner for cancellation of contracts and is normally associated with life insurance types of contract.

Irda recently issued letters to all life insurance companies, seeking details on three types of traditional plans: those where death benefit is defined as a return of premium (with or without interest), products in which the initial death benefit is significantly high and reduces subsequently during the currency of the contract, and products in which insurance cover is insufficient / insignificant in relation to the premium, i.e. products mostly of the savings type.