0
Re-entry in regards to term life insurance is the process of re-qualifying for favorable underwriting rates after a specified period of time. For example, if one purchases a 10-year life insurance policy then the rates are level for 10 years. After the 10-year period, the rates will go up dramatically. However, some policies offer the option to go through additional underwriting and re-qualify for a good rating. The rates of the policy will still go up since the insured is now 10 years older than when the policy was originally issued. But the rates will be significantly less than if re-entry does not happen.
Of course, if a policy does not technically allow for re-entry, an insured can simply apply for a new policy. The underwriting of the new policy will be identical to the re-entry underwriting.
Add your answer:
Earn +20 pts
Is life insurance preminums more than cash value insurance?
Google the types of life insurance first. You need to learn a little about life insurance. The terms you are using and spelling are weird. Most people use cash value insurance to describe a type of life insurance.I do not really understand what you mean but, from my experience, I can only guess that by life insurance you mean term life insurance. If that is the case, then, in most situations, term life insurance has lower premiums than cash value life insurance (whole life, universal life...). Be well! mcdlife.com
What does life insurance units mean?
An insurance policy that pays a monetary benefit to the insured person's survivors after death.
How do you know if you had mortgage insurance?
This depends on what you mean by mortgage insurance. If you are talking about products like PMI (Premium Mortgage Insurance) look on your escrow billing and it will be listed. If you are talking about a life insurance policy that would be either through credit life with your mortgage company or separately through an insurance company.
Whole life Annuity-life insurance?
Whole life insurance is a product that provides a death benefit, along with a feature that allows you to build up cash value. I am not exactly sure what you mean by Annuity Life Insurance, but typically speaking annuities are a type of insurance product that are geared primarily to build up investment value and then take out a guaranteed stream of income as a result. Read more on what is whole life insurance below.
What does flexible premium multi-funded life mean?
A flexible premium multi-funded life means that it is a term life insurance. Aside from that, it has a side fund that grows and which is tax deferred.
What does LUTCF in insurance mean?
It is a professional designation for Insurance Advisors and Agents (Like a PHD or MD for a Doctor). It stands for Life Underwriter Training Council Fellow. The LUTCF is granted to those who pass a series of classes regarding Life insurance and ethics training.
What does the term actuaries actually mean?
The term actuaries refers to a person who calculates the insurance risks and and premiums. They have to judge the risks regarding life insurance to work out the premiums they should give to that person or company.
What does the statement, "insurance life no physical term" mean?
It would mean you could get term life insurance with no medical exam. Term life insurance only protects you till a certain age.
What does the line life has loveliness have to sell mean?
life insurance
Is life insurance preminums more than cash value insurance?
Google the types of life insurance first. You need to learn a little about life insurance. The terms you are using and spelling are weird. Most people use cash value insurance to describe a type of life insurance.I do not really understand what you mean but, from my experience, I can only guess that by life insurance you mean term life insurance. If that is the case, then, in most situations, term life insurance has lower premiums than cash value life insurance (whole life, universal life...). Be well! mcdlife.com
What does gtl mean on a paycheck?
Group Term Life (life insurance)
What are the rules regarding having dual health insurance after retirement?
assuming you mean at age 65 or beyond, medicare becomes the primary insurance, and your other insurance becomes a medicare supplement.
What does reentry code 4R mean?
Length of Service (LOS) Retirement.
What is the cheapest but best life insurance company get life insurance from?
There are so many professing to be the cheapest. Cheap does not necessarily mean best
What does life insurance mean?
Life Insurance means protection in the event of loss of life of the main bread winners of the family, so that the family is not washed away by the eventuality .
What does GTL mean on a check stub?
Group Term Life (insurance) It's your accidental death and dismemberment insurance.
What does life insurance units mean?
An insurance policy that pays a monetary benefit to the insured person's survivors after death.
