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An insurance rider is a policy add-on that provides additional coverage and extends the terms and conditions of your policy. For instance, many life insurance riders allow you to use the money ...
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 ...
Term life insurance is generally affordable with coverage lasting 10 to 30 years, while permanent life insurance can offer lifelong protection with a cash value component. ... Long-term care rider ...
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.
The specific uses of the terms "insurance" and "assurance" are sometimes confused. In general, in jurisdictions where both terms are used, "insurance" refers to providing coverage for an event that might happen (fire, theft, flood, etc.), while "assurance" is the provision of coverage for an event that is certain to happen. In the United States ...
Terminal illness insurance (known as accelerated death benefit in North America) pays out a capital sum if the policyholder is diagnosed with a terminal illness from which the policyholder is expected to die within 12 months of diagnosis by a physician who specializes in that illness or condition. The payout is still valid even if the insured ...