Sentences with phrase «whole life policy generally»

no you do not, you can however convert the policy to a «perm» permanent or whole life policy generally without going thru medical again.

This buildup in cash value is part of the reason the premiums on a whole life policy generally remain fixed instead of escalating to match the increased risk of death as you age.

Dividend Dividends are cash payments credited to whole life policies generally as a percentage of current cash value.

On the other hand, whole life policies generally refer to a group of products that pay a permanent death benefit, but also accrue cash value over time.

Whole life policies generally guarantee the owner a modest minimum interest rate, which is usually comparable to prevailing CD or money market rates.

Dividends are cash payments credited to whole life policies generally as a percentage of current cash value.

For instance, whole life policies do not have the premium flexibility that universal life policies do; on the other hand, as long as premiums are paid, whole life policies generally do not have any risk of lapse, either.

Whole life policies generally increase in value over time and can be cashed out upon reaching the maximum benefit level.

Not exact matches

Whole life insurance policies are generally more expensive than alternatives, such as term life insurance, and the death benefit directly impacts that cost, so it's important to evaluate your family's needs before deciding to purchase.

(a) The premium for a whole life insurance policy is generally much higher than that of a term life insurance policy.

Finally, from a taxation perspective, cashing in a whole life insurance policy will generally result in taxation.

Although whole life insurance policies are generally more expensive than term life policies, they can be beneficial to people who leave an inheritance to their loved ones or are planning their estate.

Whole life policies can generally be non-participating or participating.

Unlike whole life or term life insurance policies, final expense insurance plans generally do not require a medical examination or questionnaire.

While your monthly premium usually won't change with whole life, you can generally borrow against the cash value of your policy with favorable terms.

For example, whole life insurance pays policy dividends, and this offers life insurance tax advantages for cash value accrual can generally range around 5 - 6 % per year based upon history with most top dividend paying whole life insurance companies.

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.

Generally, if you have whole life policy and need more coverage, your only option may be to buy another life insurance policy.

Premiums are generally higher for whole life policies because the term can be longer and unpredictable.

As mentioned, whole life insurance policies are generally more expensive than term life insurance policies.

For example, while whole life policies do provide a guaranteed death benefit, they also generally accumulate significant cash value that can be accessed during the insured's lifetime.

Whole life insurance policies are generally intended to remain in force until the policy «matures» (pays out), or until the owner of the policy cancels or stops paying the premiums that are due.

Term life insurance policies are generally more affordable than whole life insurance and for most young families, an individual term policy will provide the protection you need at a cost you can afford.

The cost is generally significantly less than whole life, yet more than a typical term policy.

On a whole life and universal policy, the cash value is generally guaranteed to grow at a minimum amount of interest.

Total Cash Value In whole life insurance, Total Cash Value generally consists of the policy's Guaranteed Cash Value, if all premiums due have been paid; the cash value of any Paid - Up Additional Insurance; or any Dividend Accumulations.

For folks currently suffering from Zolleinger - Ellison Syndrome, since traditional term and whole life insurance coverage is generally not an option, we generally recommend that our clients consider buying a final expense whole life policy where there is no health questions or medical exam required.

In most cases, term life insurance is not subject to Federal income tax, state income tax, or estate / inheritance taxes, and because it lacks the whole cash value of a permanent policy is also generally not subject to capital gains tax.

Now it's easy to see how not being covered for «natural» causes of death would be a HUGE disadvantage, but when considered in light with the fact that these policies will generally provide coverage up to $ 500,000 dollar for accidental causes of death, and are typically quite affordable when compared to traditional term or whole life insurance policies, in many situations, they may be a worthwhile policy to consider.

When compared to the no - lapse guarantee policy described above, whole life costs generally more than 2x as much for the same coverage amount.

Indexed universal life insurance policies generally hit that sweet spot of being way less risky and more «beginner - friendly» than variable life insurance policies, but you can also earn more with them than with regular universal life or whole life insurance.

Continuous Premium Whole Life — Same as Straight or Level Premium Whole life and simply means that the policyholder pays the same premium over the entire lifetime of the policy which is generally to age Life — Same as Straight or Level Premium Whole life and simply means that the policyholder pays the same premium over the entire lifetime of the policy which is generally to age life and simply means that the policyholder pays the same premium over the entire lifetime of the policy which is generally to age 100.

Whole life insurance at 75 is also characterized by actually building up cash value for the length of the policy, although that aspect is generally not going to amount to a great deal of money over the expected length of the policy itself.

However, since insurers usually can't say how fast or how much cash value will increase, it's hard to say when a whole life policy cash value would be available for a loan — although, it is generally accepted that at least 10 years must pass before a policy loan is an option.

Whole life insurance rates are fixed and generally must be paid for the life of the policy, unless you opt to buy Single Payment or Limited Payment whole Whole life insurance rates are fixed and generally must be paid for the life of the policy, unless you opt to buy Single Payment or Limited Payment whole whole life.

Because term life insurance only pays out if the policyholder's death occurs during the term of their coverage period, policy premiums are generally lower than whole life insurance.

Generally, whole life, universal life and variable life insurance policies are considered permanent life insurance policies because they remain in force until you stop paying the premiums or pass away.

The tax free death benefit is generally universal to Whole, Term, and Universal Life Insurance policies.

A whole life policy is generally accepted to be the most durable of the permanent insurance policies, as the minimum death benefit and premium for the life of the policy are guaranteed from the beginning.

Generally, when an individual is in two minds about the most suitable type of Life Insurance, the comparison is often drawn between Whole Life and Term policies.

It is generally viewed as a plus of Whole Life Insurance policies because?

Whole life is generally regarded as an even keeled policy that has level premiums and rate of return throughout, while universal life is subject to market fluctuation but offers more flexibility.

Premiums are generally level for whole life policies.

Ten pay whole life policies also generally are more conforming in their avoidance of Modified Endowment Contracts.

Generally, whole life insurance policies are almost never worth the cost for most people who just need pure life insurance.

The monthly premiums for a term life insurance policy are generally lower than for a whole life policy.

It generally provides whole life insurance on the principal breadwinner and small amounts of term insurance on the spouse and children, including those born after the policy is issued.

Whole life insurance: The most common type of permanent life insurance, in which premiums generally remain constant over the life of the policy and must be paid periodically in the amount specified in the policy.

The company's whole life policies are generally marketed to cover funeral and other final expenses.

A portion of your premium will be applied to the accumulation of cash value, and because of this, a whole life insurance policy generally is considered a financial asset.