Phoenix Life Insurance Company provides Annuities and whole life insurance policies to its clients. Their Annuity Life insurance includes permanent, whole, universal and term life policies. Each of the different types of life policies have their own advantages and associated restrictions. A full disclosure should be made of each policy before purchase.
The insurance policy of Phoenix Life Insurance Company is designed to provide financial security to beneficiaries in case of a person’s death. The policy protects the client’s family and beneficiaries in the event of the client’s death.
There are two major benefits that are provided by the life insurance policy of this insurance company. First is that the beneficiaries of the policy get the benefit when the policyholder dies without leaving any offspring. The second benefit is that the client pays regular premiums to the insurer in return for the right to receive benefits upon the death of the policyholder. This is done after paying the premium for the lifetime of the policyholder. In some circumstances, an additional benefit can be received by the beneficiaries.
This company provides the policyholder’s health cover, disability coverage, accidental death benefit, accidental death reimbursement, burial benefit, and loss of income benefit. For these policies, a person’s life expectancy is used as basis for the calculation of the death benefits. For this reason, the policyholder has to pay higher premium rates than other persons with lower life expectancy. If the policyholder is unable to pay the premium, his/her benefits will automatically be withdrawn until the policyholder pays off the premium.
The policyholder’s death is the only reason for withdrawal. For annuity policies, the death of the policyholder is an eligible event for premium repayment. This applies in all types of life insurance plans including whole life, universal term life, and variable universal life insurance plans. However, the death of the policyholder does not apply in term life, whole life, or variable universal life plans.
The death of the policyholder is not the only condition for the withdrawal of benefits of a policy. In all policies, there are some exclusions of benefits. However, the policyholder may still be eligible for withdrawal of his/her benefits, if he/she has made all premium payments for the policy period.
There are health coverage options offered by the insurance company. For example, if the insured has attained a specified age in the policy period, a person can get an individual plan for health benefits with this policy. In addition, there are options to get dental and vision benefits.
Phoenix Life Insurance Company is a trusted name in the field of insurance. It has a reputation of offering policies at affordable prices.
In Phoenix Life Insurance Company, they offer term life insurance which is also called universal life insurance. This type of insurance is suitable for people who have no family history of heart disease and high blood pressure and other diseases. Term insurance can last up to forty years. However, in this policy, the insured can get the benefits of coverage from the death of the policyholder during the coverage period, even during his/her lifetime. Thus, the death benefit remains payable to the beneficiary.
One of the policies provided by Phoenix Life Insurance Company is the permanent life insurance, also known as Whole Life. policyholder’s health cover. It provides coverage for expenses incurred in the future for the covered policyholder’s medical expenses that occur due to accidents, illnesses, diseases, and diseases that are not covered in the policy. The policy may be cancelled at any time before the policy term ends, if the policyholder becomes unable to pay the premiums. However, the policyholder can continue to pay premiums, up to the agreed limit during the policy period, until the end of the policy.
In the permanent life policy, there is an option called Medicare supplement. The long term life policyholders can get a Medicare supplement to pay for medical expenses, hospital and nursing home care if he/she becomes disabled. This supplement is paid as a lump sum, over the policy period.
In Phoenix Life Insurance Company, they also provide life coverage options such as life settlement plans. These plans are suitable for those who want to leave their loved ones in order to pursue a more exciting career or a fulfilling family life.