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Term vs. whole life insurance. With term life insurance, the policyholder chooses a period during which their policy is active — usually somewhere between 10 and 30 years. The policyholder pays ...
Convertible term life insurance: Lets you convert your term policy into a permanent life insurance policy without needing a new medical exam. This is usually done through a term conversion rider ...
Convertible term life insurance offers a different kind of flexibility, allowing you to transition your term policy into a permanent one if your needs change over time. For example, if your ...
Term life insurance or term assurance is life insurance that provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period expires, coverage at the previous rate of premiums is no longer guaranteed and the client must either forgo coverage or potentially obtain further coverage with different payments or conditions.
Term life insurance policies do not accumulate cash value, but are significantly less expensive than permanent life insurance policies with equivalent face amounts. Policyholders can save to provide for increased term premiums or decrease insurance needs (by paying off debts or saving to provide for survivor needs).
Stranger-originated life insurance ("STOLI") generally means any act, practice, or arrangement, at or prior to policy issuance, to initiate or facilitate the issuance of a life insurance policy for the intended benefit of a person who, at the time of policy origination, does not have an insurable interest in the life of the insured under the laws of the applicable state. [1]
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