Sentences with phrase «as the death benefit declines»

The policies are relatively inexpensive, but the premium remains constant even as the death benefit declines.

Not exact matches

With mortgage life insurance, the death benefit or coverage amount declines as your mortgage balance decreases, but the premium you pay remains the same.

Then there are ones that waive premiums if you become disabled, while mortgage life insurance is connected to the principal amount on your mortgage and the death benefit and premiums decline as you pay off your home.

With VUL, you can lose your cash value as well as your death benefit value during market declines.

Insurers can pay death benefit in installments over a definite period of time and at a defined rate of interest, as approved under the «file and use» procedure on the declining balance if such an option is provided at the inception of the policy.

Decreasing term life insurance, also known as mortgage insurance, has a constant premium amount but the death benefit declines at a set rate over the course of the policy.

For the first 5 years, the death benefit remains level, and begins to decline annually as your mortgage is reduced.

As a securities product, fund performance may lead to declining cash value or death benefit over time.

The amount committed by the insurance company to cover the death benefit declines gradually as the cash value contributed through your premiums grows.

This policy is tied to your mortgage in every way, and therefore has a declining death benefit as your principle decreases with time.

Thereafter, as years pass, the death benefit will decline.

His term insurance was through Phoenix Life, a company that has steadily declined over the years and as it sank lower and lower, it thought up ways to strip away guarantees and help ensure that what money was coming in, didn't go back out as death benefits.