Sentences with phrase «premium loan provision»

Most ordinary life policies are issued with an automatic premium loan provision that authorizes the company to automatically pay the premium by borrowing against the cash value if the premium remains unpaid at the end of the thirty - one - day grace period.

If you are unable to come up with the premiums the automatic premium loan provision will kick in and use a portion of your cash value to keep the policy in force...

If a policyholder has selected the automatic premium loan provision, a loan would automatically be taken against the cash value of the policy to pay the premium in the event the policy was about to lapse for nonpayment of premium.

Not exact matches

On the other hand, FHA loans require certain provisions which sometimes place a heavy burden on a homeowner's budget, often in the form of premiums paid for mortgage insurance.

Suicide Clause: A life insurance policy provision that states if the insured dies by suicide within a certain period of time from the date of issue (usually two years) the amount payable would be limited to the total premiums paid minus any policy loans or outstanding premiums.

GOLD SERIES SAGE CHOICE SINGLE PREMIUM DEFERRED ANNUITY — PRODUCT OVERVIEW 6 Year Single Premium Deferred Annuity Issue Ages: 15 days — 90 years (age last birthday) Minimum Premium — $ 2,000 Maximum Premium — $ 500,000 per Owner Free Withdrawal Provision («Bailout Feature»): Included in the Contract Guaranteed Minimum Interest Rate: 2 % for the first 10 years and 3 % thereafter Contract Loan — Not Available for this product Free - Look Period — 30 days Death Benefit: Accumulation Value on the date of the Owner's death.

Suicide Clause: A life insurance policy provision that states if the insured dies by suicide within a certain period of time from the date of issue (usually two years) the amount payable would be limited to the total premiums paid minus any policy loans or outstanding premiums.

GOLD SERIES SAGE CHOICE SINGLE PREMIUM DEFERRED ANNUITY — PRODUCT OVERVIEW 6 Year Single Premium Deferred Annuity Issue Ages: 15 days — 90 years (age last birthday) Minimum Premium — $ 2,000 Maximum Premium — $ 500,000 per Owner Free Withdrawal Provision («Bailout Feature»): Included in the Contract Guaranteed Minimum Interest Rate: 2 % for the first 10 years and 3 % thereafter Contract Loan — Not Available for this product Free - Look Period — 30 days Death Benefit: Accumulation Value on the date of the Owner's death.

Oftentimes, they'll also take advantage of auto loan provisions to pay for the premium, and that just goes right on top of any existing loans.

Prohibition against a provision that automatically Withdraws or places a loan against annuity forfeiture values in order to pay premiums on a life or annuity policy.

In point of fact, a common reason to have a sizable and problematic life insurance loan in the first place is when a policyowner stops making premium payments on a whole life policy — because a whole life policy must receive annual premium payments (unless it is fully paid up), and failing to pay premiums will usually trigger an Automatic Premium Loan (APL) provision where the insurance company provides a loan to the policyowner and immediately uses it to pay the premloan in the first place is when a policyowner stops making premium payments on a whole life policy — because a whole life policy must receive annual premium payments (unless it is fully paid up), and failing to pay premiums will usually trigger an Automatic Premium Loan (APL) provision where the insurance company provides a loan to the policyowner and immediately uses it to pay the premLoan (APL) provision where the insurance company provides a loan to the policyowner and immediately uses it to pay the premloan to the policyowner and immediately uses it to pay the premium.

Provisions of Star Union D I Loan Suraksha include riders i.e. special clauses to consider the cases where the policy holder will not be able to pay premium.

A provision in a life insurance plan that authorizes the insurance company to use the loan value to pay any premiums still due at the end of a grace period.

Usually there is a provision that is called the Automatic Premium Loan that takes money out of the cash value to pay premiums if you stop.

Policyowners generally may ask to set premiums to zero without the policy lapsing (or without invoking the automatic policy loan provision), although this virtually always requires notice to the insurer.

Usually there is a provision called the Automatic Payment Loan that takes money out of the cash value in a whole life policy to pay the premiums if you stop.

The automatic premium loan generally is a «no charge» provision that policyowners should look for to avoid unintentional lapses.

Provisions of Metlife Loan and Life Suraksha include riders i.e. special clauses to consider the cases where the policy holder will not be able to pay premium.

Provisions of ICICI Pru Loan Protect Plus include riders i.e. special clauses to consider the cases where the policy holder will not be able to pay premium.

Some ICICI Pru Loan Protect Provisions include riders in which premium payment can be waived off.

Provisions of ICICI Pru Loan Protect include riders i.e. special clauses to consider the cases where the policy holder will not be able to pay premium.