Sentences with phrase «accumulated surrender value of the policy»

Not exact matches

As the policyowner accumulates cash value inside the policy, the person can access the cash value, through loans or partial surrenders, which can be used for a variety of personal needs, such as quick cash for an emergency or to help supplement retirement income.

You may withdraw up to 10 % of your policy's accumulated contract value each year after the first year without incurring a surrender charge.

You can also terminate the policy (or «surrender» it) if you want to, and get part of the accumulated funds, or you can sometimes borrow money against your policy's cash value.

The cash value of a life insurance policy accumulates tax deferred, but if you surrender the policy, you'll incur an income tax liability for funds that exceed the premiums you have paid.

* All permanent policies can be surrendered for their current cash value after a certain number of years, at which point the insurer pays the accumulated cash value minus any loans and fees.

A provision in which a certain percentage of a policy or contract's accumulated value is subtracted from the surrender proceeds if a policy is cancelled within a specific number of years following issuance of the policy or contract.

* All permanent policies can be surrendered for their current cash value after a certain number of years, at which point the insurer pays the accumulated cash value minus any loans and fees.

In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee After completing five policy years, if it is surrendered, then there is no Surrender / Discontinuance Charges and the Fund Value is paid to the policyholder and the policy will terminate immediavalue will be payable to the nominee After completing five policy years, if it is surrendered, then there is no Surrender / Discontinuance Charges and the Fund Value is paid to the policyholder and the policy will terminate immediaValue is paid to the policyholder and the policy will terminate immediately.

As the policyowner accumulates cash value inside the policy, the person can access the cash value, through loans or partial surrenders, which can be used for a variety of personal needs, such as quick cash for an emergency or to help supplement retirement income.

The surrender period is the length of time you must keep the policy to fully access to the accumulated value.

Cash surrender value is the accumulated portion of a permanent life insurance policy's cash value that is available to the policyholder upon surrender of the policy.

Should the loan and accumulated interest become greater than the surrender value of the policy, policyholders could find themselves having to pay significant premiums to keep the policy in force.

While not to take the place of a savings account, some permanent insurance products have a cash value component that accumulates interest which can be used, via surrendering the policy or borrowing against it, for future expenses such as medical bills; however, the value grows more slowly than a typical investment plan and if you don't repay the policy loans with interest, your death benefit will be reduced.

Permanent life insurance has cash value upon surrender, offers savings you can use when accumulated, or even dividends for certain types of policies.

It's entirely possible that a $ 250,000 policy bought at age 35 could accumulate a cash surrender value of $ 100,000 by the time you reach age 65 — a nice addition to your retirement nest egg if you decide you don't need the insurance anymore.

And when you decide you don't want the «term» policy anymore, simply surrender the policy and receive a full distribution of your accumulated cash value without any surrender charges; on the other hand, if it turns out that you do need the policy for longer than the original term time horizon, you have a permanent policy that can be maintained and receive additional deposits as necessary, without the hassles and hazards of seeking out a term conversion.

In case of urgent financial emergencies or liquidity crunch, you may opt to surrender the policy and get quick access to the accumulated cash surrender value.

In case of urgent financial requirements, you also have the option to surrender the policy and you may exercise this option to get quick access to the accumulated cash surrender value.

Cash surrender value is the amount of money that has accumulated (tax deferred) inside the policy and is the amount of money the owner would receive (before taxes) if s / he...

Cash surrender value is the amount of money that has accumulated (tax deferred) inside the policy and is the amount of money the owner would receive (before taxes) if s / he were to cancel the policy.

The surrender (voluntary termination) of a life insurance policy involves the payment by the insurer, prior to the death of the insured, of the accumulated cash value of a whole life policy.

You can also terminate the policy («surrender») if you want, and get part of the accumulated funds, or you can sometimes borrow money against your policy's cash value.