Sentences with phrase «accrued interest exceed»

If you own a policy that lapses and the amount of the loan and accrued interest exceed your cost basis, any gain will be reported as taxable income to the IRS.

In addition, if the loan balance and accrued interest exceed the cash value of the policy, it will be terminated.

If the combined loan principal and accrued interest exceed the current cash value of the policy, the policy will lapse.

When activated, the Overloan Protection Rider converts the policy to a «paid - up» status and prevents the policy from lapsing when the policy's cash surrender value is insufficient to cover monthly deduction charges due to significant loans or if any outstanding loans plus accrued interest exceed cash value.

If you own a policy that lapses and the amount of the loan and accrued interest exceed your cost basis, any gain will be reported as taxable income to the IRS.

Not exact matches

With any time deposit account, if an early withdrawal penalty exceeds interest accrued on your account, whether paid or unpaid, the penalty will be withheld from the principal sum of your account.

Your payment must be equal to or exceed the amount of accrued interest.

As property price can crash, before the property is liquidated, the loan can accrue interest that exceed the home value.

As long as these maximum rates are not exceeded, a motor vehicle title lender is allowed to accrue interest using a single blended interest rate if the initial principal is higher than $ 700.

But if the principal is Rs 1 lakh, the accrued interest will not be insured, as the total will exceed Rs 1 lakh.

Unless it is paid out of pocket, interest is added to the balance and accrues whether the bill is being paid monthly or not, putting your loan at risk of exceeding the policy's cash value and causing your policy to lapse.

The borrower can select any of the six payment plans previously discussed as long as the payments plus accrued interest, monthly MIP, and servicing set - asides do not exceed the principal limit.

In transactions in which the consumer has the option of making regular periodic payments that do not cover all of the interest accrued that month, proposed § 1026.38 (l)(4)(ii) would have required a statement that, if the consumer chooses a periodic payment option that does not cover all of the interest due, the principal balance may exceed the original loan amount and that increases in the principal balance decrease the consumer's equity in the property.