Sentences with phrase «amount of cash value»

The policyholder has several premium payment options: Pay regular premiums, pay flexible premium amounts at your discretion, or set up the policy so that it will pay for itself after a certain amount of cash value has been accrued.

A person who desires large amount of cash value insurance may be financially unable to pay for it immediately.

Did you get statements showing the amount of cash value?

The short answer is, unless the amount of cash value in the contract exceeds the amount of premiums paid into the contract, no taxes will be due..

However, the amount of cash value being earned will decrease once premium payments are no longer required.

This is the amount of cash value in the policy accumulation account minus any outstanding loans etc..

To be able to borrow against the policy, you need to have a good amount of cash value, as you can't borrow against the policy's face value.

The amount of cash value you will accumulate as of this year is located on your policy illustration as well as your most recent policy statement.

If the loan balance increases the amount of the cash value, your policy could lapse and risk termination by the insurance company.

If the policy had been in effect for many years, and if the investments went well, then the policy could accumulate a significant amount of cash value.

You can also reduce the face amount of a loan or surrender a certain amount of cash value to avoid incurring tax liability from a policy's lapse.

When this happens, if a cash value life insurance policy was used to fund a key person policy, the amount of the cash value can be taken out in the form of an easily accessible life insurance policy loan, with no origination costs, tax free.

The policy also accumulates a certain amount of cash value over time.

Because the death benefit amount of your cash value life insurance policy may change over time as its cash value grows, make sure to specify a percentage of the proceeds to go to your beneficiaries rather than selecting a dollar amount.

The attorney will need to know the particulars of any life insurance policies that are in place, including the amount of any cash value that has accumulated in the policy.

Be advised that when you take a loan out against your life insurance policy, the loan is subject to a market value interest rate and it also can reduce the amount of the death benefit as well as the amount of the cash value.

In addition, it takes many years to build a sizeable amount of cash value in your whole life insurance policy.

If you have variable life insurance you might be unsatisfied with the amount of cash value you are accumulating.

If your policy does lapse, you'll owe taxes on the amount of the cash value, including loans that exceed the premiums you paid in — a real problem if the money you borrowed is long gone.

With this form of coverage, your death benefit will not terminate — even if there is not a sufficient amount of cash value to support it in the policy.

You can purchase Paid - Up Additions, which permanently increase the amount of cash value and death benefit you have by putting the dividend back into your policy.

Top Withdrawal Provision This provision allows you to withdrawal money from your life insurance policy up to the amount of the cash value you have accumulated.

Interest Sensitive Whole Life Insurance — Interest sensitive whole life insurance is a guaranteed fixed premium permanent life insurance product that offers a minimum amount of cash value.

Whole life insurance dividends are paid out at a determined rate based upon the amount of cash value in a policy.

This is because a life settlement provider will pay the policy owner a percentage of the policy's death benefit which in most cases can be substantially more than the amount of the cash value that is in the plan's cash value component.

They do build a small amount of cash value, but the cash value does not grow fast and this is not the reason you would buy a guaranteed issue life policy.

For instance, the businesses that decide to purchase permanent life insurance can build up a nice amount of cash value.

However, many permanent policies have a sizeable amount of cash value accumulation, particularly policies that employ the use of a paid up additions rider for reinvesting life insurance policy dividends.

Due to the large amount of money that is initially deposited, this type of whole life insurance policy will typically start out with a substantial amount of cash value.

* For a variable life insurance policies, if you withdraw a greater amount of cash value than the total amount you've paid in premiums, you pay taxes on the difference.

Loan values are usually based on the amount of cash value built up in the policy.

For those who are seeking both death benefit protection, along with a potentially higher amount of cash value build up over time (in a tax - advantaged manner), the Phoenix Accumulator UL policy may be a good fit.

Withdrawals from variable life insurance policies are only restricted by the amount of cash value available.

Whole life insurance is structured so that the contract is guaranteed to provide a certain minimum amount of cash value as well as a death benefit.

Unless you have had the policies for a very long time, or unless you have been making extra premium payments, the amount of cash value in the policies is likely to be low.

«You do have permanent coverage for the rest of your life, as long as you keep the policy with an adequate amount of cash value in it.

This will essentially result in a reduction of the policy's death benefit amount — as well as the amount of the cash value account in the policy.

The insured's age and the amount of cash value will determine the length of the new term policy.

The policy over time can accumulate a substantial amount of cash value which can be used for whatever you desire down the line.

The interesting aspect of these policies is that you can surrender your policy and get the accrued cash value in your hands provided you have a substantial amount of cash value.

If that happens, you can be taxed on the amount of cash value above your basis in the policy.

Lastly, comprehensive auto insurance makes the most sense for vehicles with a significant amount of cash value.

It takes years to build up a decent amount of cash value and since most people buy final expense policies in their 50s, 60 s or 70s you likely won't see enough cash value to stop paying for the policy.

It's simple to borrow against the cash value of a permanent life insurance policy as there are no loan requirements or qualifications aside from the amount of cash value you have available.

In addition, paying using the lifetime premium also guarantees some amount of cash value growth within the policy.

You can surrender your policy: If the amount of cash value surrendered exceeds the premiums paid, the gain will be reportable to the IRS as taxable ordinary income and you will receive an IRS form 1099.

If the policyholder cancels the policy before the end of the surrender period, it is not likely the policyholder will receive any amount of the cash value because these costs are incurred by the insurance company to set up the policy.

Other miles cards like Capital One ® Spark ® Miles Select for Business give you miles that translate into a certain amount of cash value that can be redeemed towards travel purchases.

When rates were high, this made a lot of sense — you pay lower premiums to get the same amount of cash value or slightly better.However, if the interest rate goes down, your premiums could go up as the life insurance company has to put more money in to maintain the policy's cash - value component.

You can also reduce the face amount of a loan or surrender a certain amount of cash value to avoid incurring tax liability from a policy's lapse.