Sentences with phrase «amount of the death benefit»

With that in mind, term life insurance policies can often provide the greatest amount of death benefit protection for the lowest amount of initial premium cost.

In the level benefits policy, the full amount of the death benefit on the policy is usually paid out if the insured passes away at any point after the policy has been issued.

All they are interested in is buying the right amount of death benefit for as low a premium as possible.

With a universal life insurance policy, the insured is protected with a guaranteed amount of death benefit proceeds.

These policies provide a set amount of death benefit in return for a regular premium payment.

Whole life insurance ensures a guaranteed amount of death benefit protection — regardless of how long the insured lives.

Term policies are a temporary coverage in that they will provide a set amount of death benefit for a set duration of time, or term.

In addition to the type, duration, and total amount of death benefit needed, there are other important considerations which will need to be counted.

Increasing term insurance policies maintains the same premium throughout the term, but has an increasing amount of death benefit.

Another portion of the coverage is an accidental death benefit that will pay out an additional amount of death benefit in the event that the insured dies due to a covered accident.

The band in which an applicant falls can determine the minimum and the maximum amount of death benefit coverage offered.

Because of this, term life insurance is often quite affordable — even for a large amount of death benefit coverage.

Likewise, you may also be able to obtain the same amount of death benefit on a new policy for a lower premium cost.

Usually after explaining the difference, they understand and are willing to take a lower amount of death benefit in exchange for the coverage lasting a lifetime.

The exact amount of the death benefit paid out early to the policyholder varies, but usually it goes up to 50 percent of the policy value.

Term life insurance can also offer a way to obtain a higher amount of death benefit at an affordable cost.

Here, the named beneficiary will not receive the full amount of the death benefit if the insured dies within the first two or three years that the policy is in force.

The face amount of the death benefit will also play a factor in determining how much life insurance is for you.

In trying to determine an appropriate amount of death benefit coverage, applicants should thoughtfully consider the financial needs of the surviving beneficiary.

So, if beneficiaries are counting on a certain amount of death benefit proceeds, it may be essential to repay any cash value that is borrowed or withdrawn from the policy.

With this plan, an insured will be covered with a level amount of death benefit throughout the entire policy duration, and premiums that will also remain level.

The minimum amount of death benefit on this policy is $ 100,000, and proceeds may be applied for up to $ 65 million.

It is for this reason that the premium for term coverage is typically less than that of permanent life insurance plans with a comparable amount of death benefit coverage — at least initially.

Therefore, the entire amount of the death benefit that is received can be used for whatever the beneficiary sees fit.

This is usually the original amount of death benefit that is purchased at the time of policy application.

If the beneficiaries would prefer not to collect the whole amount of the death benefit at one time, there are alternative settlement options that can be chosen.

This type of policy pays your beneficiary a fixed amount of death benefits if you die in an accident.

A specified amount of death benefit will be paid to the nominee immediately as death occurs.

Another thing to keep in mind is that term insurance is less costly than whole life insurance for equal amount of death benefit.

The policies usually offer a very small amount of death benefit and the premiums are high.

Likewise, the initial amount of the death benefit on a variable policy is also usually a fixed amount — regardless of what occurs in the underlying market.

For an equivalent amount of death benefit, term insurance, especially term - 10, starts out much cheaper.

This often makes getting the right amount of death benefit difficult through a whole life insurance policy.

Make sure that you get the proper amount of death benefit protection.

In most cases, term life insurance will maintain a set amount of death benefit throughout the entire time of the policy.

You should be aware of the aggregate amount of the death benefits your loved ones will receive if you have more than one policy.

The cost comparison between buying a term policy and a permanent policy for the same amount of death benefits comparison is enormous!

As the cash value builds up in the policy, the actual amount of death benefit you are purchasing decreases.

If the goal is maximum cash value accumulation for a tax - free retirement income it is extremely important the policy is properly structured with the least amount of death benefit possible.

If you want the maximum amount of death benefit now, the second option should be selected.

It is important to buy the right amount of death benefit above all else.

But, if you die before the term ends, then your beneficiary will receive the full amount of the death benefit from your policy.

Thus, even though the cost per $ 1,000 of death benefit rises, the total amount of death benefit you purchase decreases.

Increasing term life insurance is a term policy that maintains the same premium throughout the term, but that has an increasing amount of death benefit.

This rider is an additional amount of death benefit if the insured dies due to accident.

You should press the agent to design you a plan where you are putting in as much money as you can with the lowest amount of death benefit.

Whole life is a type of permanent insurance coverage that provides a set, guaranteed amount of death benefit protection, as well as a cash value component.