Sentences with phrase «begin accumulating cash value»
You can convert a term life insurance policy to whole life at any time to begin accumulating cash value.
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As you pay your premiums, over time you begin to accumulate a cash - value component you can borrow against.
At retirement, many people then begin to use the accumulated cash value to supplement retirement income.
Furthermore, your cash value begins accumulating generally after the first year.
When a company pays premiums into a permanent (non term) key man insurance policy a cash surrender value begins to accumulate over time.
The earlier you begin, the lower the costs and the longer the policy has to accumulate cash value.
At retirement, many people then begin to use the accumulated cash value to supplement retirement income.
Policies accumulate cash values beginning in the fifth policy year.
The good news is that a properly funded policy will begin to accumulate cash value almost from day one.
During these calculations, actuaries determine the cash value accumulated in the policy at the beginning of the year.