A | B | C | D | E | F | G | H | I | J-K | L | M | N | O | P | Q-R | S | T | U-V | W-Z Insurance Terms: W Waiting Period under a health insurance policy, the waiting period is the time that has to pass from the policy issue date until the date the benefits become payable. In some cases, the waiting period may also be called an “elimination period” or a “probationary period.” Waiver is the surrender of a right or privilege. With life insurance, … Continue reading
Whole life insurance policies cover you for your whole life–as long as the premiums are paid. The premiums typically remain the same amount as they start. Premiums rates are usually higher than term insurance during the first several years but will be lower than the premiums for term life insurance if you continue to renew in your later years. Whole Life Insurance policy values grow on a tax-deferred basis. If you decide to cash in the policy, you’d only have to pay taxes on the net gain. For example, say your total cash value was $30,000 and the amount you … Continue reading