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Pros and cons of converting term to whole life insurance. Converting your term life insurance into a whole life policy can open up new possibilities for long-term coverage, but it’s not a one ...
Term conversion is a strategic choice for those who develop a health condition or become otherwise uninsurable but still need life insurance after their term policy ends.
A life insurance conversion privilege allows you to convert your policy from one kind to another. For individuals who hold a life insurance policy, it's common for their coverage needs to change ...
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.
Whole life insurance, or whole of life assurance (in the Commonwealth of Nations), sometimes called "straight life" or "ordinary life", is a life insurance policy which is guaranteed to remain in force for the insured's entire lifetime, provided required premiums are paid, or to the maturity date. [1]
A life annuity is an annuity, or series of payments at fixed intervals, paid while the purchaser (or annuitant) is alive.The majority of life annuities are insurance products sold or issued by life insurance companies however substantial case law indicates that annuity products are not necessarily insurance products.
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