Sentences with phrase «whole life insurance policy in place»

Which is why, having a quality term or whole life insurance policy in place prior to retirement could mean a much better retirement for you, the insured.

You should keep your whole life insurance policy in place until you have already purchased and been approved for a term life insurance policy.

Not exact matches

At time of issue you need to pay the insurance carrier an amount equal to the difference in price between the term policy and what the premium payments would have been had you bought a whole life policy in the first place.

This would defeat the whole purpose of purchasing a life insurance policy in the first place.

On the other hand, you may have an opportunity to convert your whole life policy into a «paid - up» policy and this is where you no longer have to pay the premiums but the insurance will remain in place.

Whole life insurance is a policy that will remain in place until death.

A whole life insurance policy accrues cash value and pays dividends which can be used in different ways while the policy is in place.

Many seniors with insufficient assets or life insurance already in place often choose to make sure these costs are covered by applying for a universal or whole life policy.

To «surrender» a whole life insurance policy means to cancel the coverage and collect any cash value that's in place.

At TermLife2Go we specialize in placing those hard to place high risk life insurance applications, which is why we will exhaust every available option to first secure a fully underwritten term or whole life policy first.

Whole life insurance, or permanent life insurance, is a policy that is in place for your entire lifetime.

Unlike with Whole Life, where a portion of your monthly premium is placed in a single tax - deferred annuity account with a fixed interest rate at the time of the purchase of the policy, the savings portion of your premium in a UL policy is placed in a variety of bonds, mortgages and money market funds by the insurance company.

The most valuable feature of VGLI is that, so long as you have coverage in place, you can convert it to a whole life insurance policy at a top insurer without demonstrating your health.

If you have a term life insurance policy, and you are interested in converting some or all of the policy to a permanent whole life insurance policy you have come to the right place.

But know that there are safeguards in place to protect the policyowner from overfunding their whole life insurance policy, such as the company alerting the policyholder if the policy is in danger of becoming a MEC.

Term is far more affordable, most people do not need life insurance coverage to last past retirement age, and by investing money in other places such as the stock market people will end up with a much higher return on their investment than they will with a whole life policy.

Whole life insurance offers very distinct advantages for certain people, mostly those with a lot of money who need an insurance policy to be in place when they die to help facilitate a tax efficient transfer of their estate to their heirs.

If your policy lapses (for any type of policy), you'll not only face potential rate increases if you reapply, but you'll also no longer be eligible to receive the death benefit, which is the whole goal of life insurance in the first place.

Whole life insurance is a good choice for you if you want to ensure that you have a life insurance policy in place for your entire lifetime and can comfortably afford the premiums, or if it fits within the framework of your estate or retirement plan.

As long as you pay your premiums, your whole life insurance policy will stay in place.

In point of fact, a common reason to have a sizable and problematic life insurance loan in the first place is when a policyowner stops making premium payments on a whole life policy — because a whole life policy must receive annual premium payments (unless it is fully paid up), and failing to pay premiums will usually trigger an Automatic Premium Loan (APL) provision where the insurance company provides a loan to the policyowner and immediately uses it to pay the premiuIn point of fact, a common reason to have a sizable and problematic life insurance loan in the first place is when a policyowner stops making premium payments on a whole life policy — because a whole life policy must receive annual premium payments (unless it is fully paid up), and failing to pay premiums will usually trigger an Automatic Premium Loan (APL) provision where the insurance company provides a loan to the policyowner and immediately uses it to pay the premiuin the first place is when a policyowner stops making premium payments on a whole life policy — because a whole life policy must receive annual premium payments (unless it is fully paid up), and failing to pay premiums will usually trigger an Automatic Premium Loan (APL) provision where the insurance company provides a loan to the policyowner and immediately uses it to pay the premium.

If you are looking for in - depth reviews of American General Life Insurance Company, American General Life (AIG) and the Guaranteed Issue Whole Life (GIWL) policy, you're in the right place.

While whole life insurance is often attractive to middle class and affluent consumers, term life insurance policies can have an important place in an insurance portfolio.

The advantage of conversion term life insurance is you can get at least some type of protection in place and when your income improves you can convert the term to a superior whole life or universal life policy.

Your term life insurance rates stay constant during the whole term of the policy (as long as the policy is in place).

Assuming that you would be eligible, we also like to take a look at some of the new «no medical» exam term or whole life insurance policy options that are out there particularly if our client doesn't have any existing coverage in place.

It is quite similar to whole life insurance, meaning that it stays in place until you die or decide to terminate (surrender) the policy.