0
What else can I help you with?
What life insurance policy allows you to skip premium payments?
A life insurance policy that allows you to skip premium payments is typically a whole life insurance policy with a cash value component. Policyholders can utilize the cash value to cover premiums through a feature known as "premium offset" or by taking a policy loan against the cash value. However, it's important to note that skipping premium payments may reduce the death benefit or affect the policy's cash value. Always consult with a financial advisor or insurance agent to understand the implications of this option.
Periodic payments for an insurance policy?
annuity
What is the periodic payments made to keep an insurance policy in effect called?
premium
What is the difference between home insurance and mortgage insurance?
Home insurance is a policy that protects your home and belongings from damage or theft, while mortgage insurance is a policy that protects the lender in case you default on your mortgage payments.
What is a life insurance policy dividend?
It's a payment made to the policy owner by the mutual insurance company when there is a profit. The policyholders are the owners of a mutual life insurance company and they share in the profits by receiving dividend payments from the insurance company.
What is special about a universal insurance?
Universal life insurance is special in that it allows the policy owner to alter the time period and amount of premium payments as well as the death benefit and you can do this while the policy is in effect. However the altered payments must be with limitations of the company you are getting the insurance through.
What life insurance policy allows you to skip premium payments?
A life insurance policy that allows you to skip premium payments is typically a whole life insurance policy with a cash value component. Policyholders can utilize the cash value to cover premiums through a feature known as "premium offset" or by taking a policy loan against the cash value. However, it's important to note that skipping premium payments may reduce the death benefit or affect the policy's cash value. Always consult with a financial advisor or insurance agent to understand the implications of this option.
What life ins Policy Allows The Policy Owner To Skip Premium Payments?
A life insurance policy that allows the policy owner to skip premium payments is typically referred to as a "permanent life insurance" policy, such as whole life or universal life insurance. These policies often include a cash value component, which can be used to cover premium payments during financial hardship. Additionally, some policies may offer a "premium waiver" option, allowing the policyholder to suspend payments under certain conditions, such as disability. It's essential to review the specific terms and conditions of the policy to understand how this feature works.
Periodic payments for an insurance policy?
annuity
What is a paid up insurance policy?
A paid up insurance policy is a life insurance policy under which all life insurance premiums have already been paid, with no further premium payments due on the policy.
What is paid up contract in Insurance?
A paid-up policy is a whole life insurance policy for which no additional premium / payments are required to keep it in force.
What is the periodic payments made to keep an insurance policy in effect called?
premium
When does long term care insurance begin?
Long term care insurance typically begins once the policy is in effect, which is usually after the premium payments have been made and the policy has been issued. The specific start date can vary depending on the insurance company and the terms of the policy, so it's important to check the policy documentation or consult with the insurance provider for the exact details.
What is the difference between home insurance and mortgage insurance?
Home insurance is a policy that protects your home and belongings from damage or theft, while mortgage insurance is a policy that protects the lender in case you default on your mortgage payments.
What is a waiver of insurance policy?
I believe you are asking about waiver of insurance policy premium. There are certain insurance policies like children's plans, where even if the policy holder (Parent) is no more, the insurance company would waive off the premium payments and continue to provide the benefits to the policy beneficiaries (Children)
What is a life insurance policy dividend?
It's a payment made to the policy owner by the mutual insurance company when there is a profit. The policyholders are the owners of a mutual life insurance company and they share in the profits by receiving dividend payments from the insurance company.
Can you get insurance to pay your mortgage while the house is being rebuild if there is a fire?
No, Your homeowners insurance is a type of "Hazard Insurance", you must continue to make your mortgage payments as usual. If your policy contains "Loss of use" coverage, then your insurance will cover the cost of temporary housing within policy limits, allowing you to continue making your mortgage payments.
