Sentences with phrase «whole life insurance policy meant»

Burial insurance is a type of whole life insurance policy meant to help buyers pay funeral expenses of the insured.

A final expense policy is a small whole life insurance policy meant to pay off, well, any final expenses like burial costs and outstanding debts.

Cashing out a whole life insurance policy means that you can switch to a less expensive term life coverage that offers the same benefits, but does so with a fixed time limit.

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

Borrowing against a whole life insurance policy means the amount of the death benefit and cash surrender value are reduced.

Not exact matches

Due to the lifetime coverage and cash value, whole life insurance costs considerably more, meaning it can easily come to 10 times the cost of a term policy with the same death benefit.

Guaranteed acceptance policies are typically whole life insurance policies, meaning they offer coverage for your lifetime so long as you continue to pay premiums.

A life insurance policy is referred to as whole life because the insured is meant to have the policy for the entire span of their life.

Generally, younger individuals who wish to preserve their insurance benefits and cash value will be better off taking out policy loans rather than withdrawing cash from a whole life policy, assuming they believe they have the means to pay off the loan.

Whole or «permanent» life insurance means the policy will run for your lifetime and payout upon your death.

MassMutual is also a mutual life insurance company, meaning it's owned by its policyholders and the company has consistently distributed dividends to those with whole life insurance policies for over 150 years.

Insurance companies love whole life because it is not a commodity; they can come up with a large variety of variants, and that fact plus the fact that it combines insurance and investment means that is very difficult to compare Insurance companies love whole life because it is not a commodity; they can come up with a large variety of variants, and that fact plus the fact that it combines insurance and investment means that is very difficult to compare insurance and investment means that is very difficult to compare policies.

Guaranteed universal life insurance is similar to whole life insurance because it is also considered a permanent policy, meaning it is supposed to last the entire life of the policy holder.

It's important to note if you take out a loan on your whole life insurance policy and die while the loan is out, the death benefit may be used to pay back the outstanding amount, meaning your beneficiaries won't get the full amount.

If you are lucky enough to qualify for a term life insurance policy but the insurer will only approve a short term, this will turn the policy into a whole life insurance policy, meaning it stays in effect for as long as you pay the premiums.

These policies are offered as whole life insurance, which means that the plan has death benefit protection, as well as a cash value, or savings, component.

Their burial insurance policy is whole life, which means that it's never going to expire.

Infinite banking is a concept or strategy where the policy owner utilizes the cash value of a participating whole life insurance policy from a mutual company as a means of self - financing.

Universal life insurance is a type of whole life insurance product, which means that there is not a set period of time where policy coverage runs out.

These are participating whole life insurance policies, which means you can share in the company's profits via life insurance dividends.

The cash value component of a whole life insurance plan means that, as time goes on, your policy will build cash value within your policy.

Burial insurance is a very specific kind of whole life insurance policy where the proceeds of the policy are meant to pay for end of life expenses.

This means the applicant does not qualify for term insurance or other whole life insurance policies.

Just because you purchase a whole life insurance policy does not mean that you will likely keep that insurance policy forever.

Both of these policies are whole life insurance, meaning that they offer death benefit coverage, as well as a cash value component.

Convertible: This policy means that you can switch from a term to whole life insurance.

While a renewable term life insurance policy allows you to simply extend your current coverage, having a convertible term life insurance policy means that, at any point during your term or before your 70th birthday (whichever comes first), a policyholder may convert term life coverage to whole life coverage.

7 Pay, 10 Pay or 15 Pay Whole Life Insurance — These Whole life policies simply mean that you pay all your premiums in full as 7, 10 or 15 year annual premiLife Insurance — These Whole life policies simply mean that you pay all your premiums in full as 7, 10 or 15 year annual premilife policies simply mean that you pay all your premiums in full as 7, 10 or 15 year annual premiums.

Buying a traditional term life or whole life policy usually requires a life insurance medical exam, which means a health care professional reviews your answers to medical questions, takes a blood and urine sample, listens to your chest, and wraps a blood pressure cuff on your arm.

It's important to note if you take out a loan on your whole life insurance policy and die while the loan is out, the death benefit may be used to pay back the outstanding amount, meaning your beneficiaries won't get the full amount.

Whole life insurance is a kind of permanent life insurance policy — meaning it lasts your whole life — that eventually pays out a tax - free sum of cash to your beneficiaries when youWhole life insurance is a kind of permanent life insurance policy — meaning it lasts your whole life — that eventually pays out a tax - free sum of cash to your beneficiaries when youwhole life — that eventually pays out a tax - free sum of cash to your beneficiaries when you die.

Whole life insurance policies have a fixed premium, meaning you need to pay the same amount each year.

This could mean that during periods of rising interest rates, universal life insurance policy holders may see their cash values increase at a rapid rate compared to those in whole life insurance policies.

It basically means that instead of buying whole life insurance and getting half life insurance policy, half expensive savings vehicle, you should buy a cheaper term life insurance policy and invest the difference elsewhere, where you can likely get a better return.

Whole life insurance policies have a fixed premium, meaning you pay the same amount each and every year for your coverage.

The money in the cash value portion of your whole life insurance policy is tax - deferred, meaning you don't pay taxes on it until you withdraw it, but many other investment vehicles (like 401 (k) s and traditional IRAs) also offer this option.

For most people, this means a whole life insurance policy.

Maybe some of you have caught on already, but for those of you who haven't: That means you should probably be wary if someone is trying to sell you a whole life insurance policy when all you want is a basic financial safety net so your family can pay bills and debts.

If you are lucky enough to qualify for a term life insurance policy but the insurer will only approve a short term, this will turn the policy into a whole life insurance policy, meaning it stays in effect for as long as you pay the premiums.

This means that before the end of the conversion period, you may trade the term policy for a whole life or endowment insurance policy, even if you are not in good health.

Transamerica's final expense life insurance is a whole life insurance policy — which means that it provides a death benefit and a premium amount that is locked in a guaranteed.

As mentioned, whole life insurance policies are permanent, meaning they don't expire after a certain period of time as long as the premiums are paid on time and in full.

There is general burial insurance along with term and whole life insurance policies that offer other means of paying for your funeral and providing additional options as well.

When you consider that the common interest rates on whole life insurance policies are often less than 4 %, this means that you may be losing money as compared to going with a more traditional investment.

Which means that we're now going to need to learn a little bit more about the «type» of cancer that you beat and what «stage» you beat your cancer at prior to being able to determine if you'll be eligible for a traditional term or whole life insurance policy yet.

This will by no means solve the debate on a 1000000 whole life insurance policy vs a 1000000 term life insurance policy.

Which means that we're also going to need to shift gears from «automatically» looking at a Guaranteed Issue life insurance policy too «potentially» being able to find a fully underwritten term or whole life insurance policy that will be willing to approve you!

Whole life insurance is meant to cover an insured for the entirety of their lifetime — as long as the policy's premiums are paid.

This means that, if you're insured under a MassMutual whole life insurance policy, for example, you are a member entitled to vote for our Board of Directors.

That means that the $ 200,000 policy that will cost $ 3,000 per year for whole life, can be had for around $ 300 with a term life insurance policy.