Sentences with phrase «against the death benefit proceeds»

If, however, a policyholder does remove cash from the policy — regardless of whether it is through a withdrawal or a loan — any unpaid balance will be charged against the death benefit proceeds.

However, it is important to note that any amount of the balance that is not repaid will be charged against the death benefit proceeds that are ultimately paid out to the beneficiary upon death.

However, it is important to note that any unpaid loan balance at the time of the insured's passing will be charged against some death benefit proceeds that are paid out to the beneficiary.

It is, however, important to note that if there is an unpaid balance at the time of the insured's death, the amount that is not repaid will be charged against the death benefit proceeds that are paid out to the beneficiary (or beneficiaries).