Sentences with phrase «against the policy accrue»

Loans against the policy accrue interest and decrease the death benefit and cash value by the amount of the outstanding loan and interest.

Not exact matches

While term life insurance doesn't accrue a cash value over time, meaning you can't borrow against it, a term policy has a low cost by comparison and is still customizable to an individual's situation.

Over the life of the policy, you can borrow money against the accrued value.

Keep in mind that loans against the policy will accrue interest and decrease both death benefit and cash value by the amount of the outstanding loan and interest.

You policy loan and any accrued but unpaid interest go against the death benefit.

Whole life policies offer living benefits, including tax - free dividends that may accrue (referred to as the policy's cash value); you may even be able to borrow money against the value of a whole life policy if there comes a time that you decide you need to do so.

If your policy has been in force long enough it will accrue cash value that can be borrowed against.

Of course, loans go against the policy value, and interest accrues until it is paid back.

Keep in mind that loans against the policy will accrue interest and decrease both death benefit and cash value by the amount of the outstanding loan and interest.

With a loan, interest accumulates against the policy and its cash, and it must be repaid or the interest will continue to accrue.

Of course, taking money against the policy will reduce the death benefit but this isn't a problem if your needs have adjusted, your policy accrues interest greater than your loan, or you have the ability to repay the loan.

For the Accelerated Death Benefit for Chronic Illness Rider, the amount of death benefit that's accelerated, plus any accrued interest, will be secured by a lien against the base policy death benefit.

6 The amount of death benefit that's accelerated, plus any accrued interest, will be secured by a lien against the base policy death benefit.

Some policies will even allow you to take out a low - interest loan against your accrued value.

Over the life of the policy, you can borrow money against the accrued value.

Your funeral expense life insurance policy can accrue cash value over time and can be leveraged against a loan by the policyholder.

Unpaid policy loans and accrued interest count against your total death benefit or surrender value at the time of claim or termination of the policy.

While term life insurance doesn't accrue a cash value over time, meaning you can't borrow against it, a term policy has a low cost by comparison and is still customizable to an individual's situation.

Whole life insurance policies can also benefit retirees since they provide a fixed premium, allow the insured to borrow against the accrued cash value, and provide a guaranteed death benefit to the insured's beneficiary.

Beside this, you can also take a loan against the funds accrued in your policy's savings account, although it's important to bear in mind that it should be utilized for emergencies only.

$ 50 per month for $ 50,000 worth of life insurance stays the same at the age it is purchased until the insured dies or until they outlive the policy; usually 99, 100, or 101... Whole LI also accrues cash value that can be borrowed against.

This might include the ability to borrow against the accrued value of the policy, or the ability of the policy owner to choose how the premiums are invested, among other things.

For example, you can borrow against the accrued cash value on most permanent life insurance policies, and some types of policy will even allow you to participate in deciding where and how your premiums will be invested, which can yield a higher cash value.

If a financial advantage is your goal, a whole life policy offers options not available in term life, including the ability to withdraw or borrow against the accrued cash value of the policy.

By borrowing against the policy, you can use the accrued cash value of the policy to make the premiums or to help you get past other financial difficulties without losing the policy itself.

Additionally, if the policy has an accrued cash value, any outstanding loans against the policy will be deducted before you receive the cash value.

Conversion costs are minimal, and converting to whole life gives you the ability to participate in the management of the policy, enjoy a tax deferred status on your insurance investment, and borrow interest free against the accrued balance over the life of the policy.