Sentences with phrase «against the cash surrender»

Depending on the terms of the life insurance policy, you might be able to borrow against the cash surrender value of the policy.

Depending on the terms of the whole life policy, a policyholder can borrow against the cash surrender value of the policy.

Finally, if your spouse's life insurance policy has a cash surrender value, you'll want to put a clause in your separation agreement that will keep your spouse from borrowing against the cash surrender value.

Not exact matches

In general, whole life policies have two parts — a guaranteed cash value (that you need to cash in the policy to get, or alternatively, get a loan against) or «dividends», which is an amount that has built up over the years that you are able to withdraw without surrendering the policy.

A surrender charge is a hold back amount that an insurer charges against the cash values of a life insurance policy for the first 8 to 10 years, if funds are withdrawn early.

You may take a loan against the cash value or surrender them at any time.

A policy's cash value is essentially the amount of money you would receive if you surrendered the policy to the insurer, and this amount can be borrowed against or used to pay premiums.

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.

If you want to get access to these funds, you can often borrow against the cash value, or surrender your insurance policy.

You can borrow against the cash value of the policy, or collect it when the policy is surrendered.

Alternatively the charity can elect to place the policy on reduced paid up status; surrender the policy immediately; or take a loan against its cash values.1

You can either surrender the policy for its cash value or take the needed funds as a loan against the policy.

You can use the cash value, or savings portion, as collateral; you can withdraw or borrowed against it, and you also have the option of buying the policy at a» surrender value,» which means you can cancel the policy for a single cash payment.

You can borrow money against the account or surrender the policy for cash.

• Coverage is for life, eliminating the need to renew the policy • Provides death benefits • Cash value accumulation feature, which builds up over the life of the policy • Allows you to borrow against the policy • Allows you to surrender the policy

After the surrender period ends, you can typically take out a loan against a portion of the available cash value.

Also, they will check that if the policy has a cash surrender value, there have been no borrowings secured against that and that the original life insurance policy is not required in order to make a claim.

The main purpose of the legal reserve is to provide lifetime protection, but because more money is collected in premiums in the early years of a policy than is needed to cover the mortality charge, level - premium policies develop a cash value, which the policyholder can borrow against, or can surrender the policy for its cash value if the policyholder no longer wishes to continue the life insurance policy.

It's common to also allow the policyholder to take out loans against the cash value of their permanent policy or give up («surrender») the policy in exchange for some portion of the cash value.

If you decide to decrease the coverage, you must be aware of the fact that a decrease below the required minimum may lead to a surrender charge applied against the cash value.

Certain life insurance contracts accumulate cash values, which may be taken by the insured if the policy is surrendered or which may be borrowed against.

You can use the cash value, or savings portion, as collateral; you can withdraw or borrowed against it, and you also have the option of buying the policy at a» surrender value,» which means you can cancel the policy for a single cash payment.

Surrender Charge Typically applicable to adjustable life, indexed universal life, and variable universal policies, a generally declining schedule of charges against the cash value may be imposed on the policy for a certain number of years from policy inception if the policy is surrendered, the death benefit is reduced, or in some instances, the surrender charge is taken into account in the monthly calculation to determine if the policy is still in forcSurrender Charge Typically applicable to adjustable life, indexed universal life, and variable universal policies, a generally declining schedule of charges against the cash value may be imposed on the policy for a certain number of years from policy inception if the policy is surrendered, the death benefit is reduced, or in some instances, the surrender charge is taken into account in the monthly calculation to determine if the policy is still in forcsurrender charge is taken into account in the monthly calculation to determine if the policy is still in force.»

The policy owner can borrow against the cash value or surrender the policy for the money, minus a possible surrender fee.

[4] This is why most people choose to take cash values out as a «loan» against the death benefit rather than a «surrender.»

Depending on the contract, the carriers would offer the consumer a Cash Surrender Value in return for policy surrender, or in some extreme health situations, a modest advance against the deathSurrender Value in return for policy surrender, or in some extreme health situations, a modest advance against the deathsurrender, or in some extreme health situations, a modest advance against the death benefit.

A policy owner who takes a loan against the available cash value may choose to pay back the loan with interest, or to have the amount owed deducted from the death benefit at the time of payout, or to surrender the policy and have the amount owed deducted from the available cash value.

This means that if you have term life insurance, you can not borrow against it because it has no cash surrender value.

Can take out loans against the policy or surrender it for cash if it's a whole - life or other permanent policy with cash value

You can borrow against the cash value of the policy, or collect it when the policy is surrendered.

You can borrow money against the account or surrender the policy for cash.

You can borrow money against the account or surrender the policy for the cash.

You can borrow against the cash value, use it to buy more coverage or surrender the policy for the cash.

You can also borrow money against the account or surrender the policy for the cash value.

A policy's cash value is essentially the amount of money you would receive if you surrendered the policy to the insurer, and this amount can be borrowed against or used to pay premiums.

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.

You can actually take a loan against your cash value and even perform a cash surrender on the policy.

These forms of permanent life insurance can all give the owner access to cash by being surrendered, loaned against, or having cash withdrawn before the insured person passes away.

Value - accumulating whole life or universal insurance is often offered as death benefit protection with a cash value component that you can borrow against or eventually cash in by surrendering the policy.

One of the virtues of cash value life insurance is that insurance companies are willing to make loans against the policy at relatively favorable interest rates, because the insurance company knows that it can always foreclose on the policy (i.e., force its surrender) as collateral to repay the loan.

Accumulates tax - deferred cash value that can be borrowed against through an interest - bearing loan or receive if the policy is surrendered.

The policyholder can also surrender paid - up additions for their cash value or take a loan against them.

Borrowing against a whole life insurance policy means the amount of the death benefit and cash surrender value are reduced.

Moreover, the policyholder can take a loan against the paid - up additions or surrender their value for cash; however, either would reduce the death benefit and cash value.

The owner can borrow against the policy, cancel the policy and receive the cash surrender value, designate a beneficiary and exercise any policy options for the application of dividends or conversion features.

The life insurance policy's cash value can be withdrawn tax free, borrowed against or surrendered.

The policy's cash value is the amount of money you would receive if you surrendered the policy and it can be borrowed against or withdrawn.

The platinum plus whole life insurance plan offers long - term protection against catastrophic events with features including level death benefit to age 100, long - term protection with level premiums, cash surrender value and policy dividends.

Generally, when you borrow against your life insurance policy it will reduceyour cash surrender value as well as the current death benefit.

Both these policies have an in - built cash value that you can access after a few years of accumulation that you can surrender for most of its value or borrow against.