Sentences with phrase «cash upon surrender»

CASH SURRENDER VALUE: The amount available in cash upon surrender of a life insurance policy before it matures as a death claim or otherwise.

The amount (stated in the policy) that is available in cash upon the surrender of a policy for cancellation before or after the policy matures.

The amount (stated in the policy) that is available in cash upon the surrender of a policy for cancellation before or after the policy matures.

Not exact matches

in the case of our directors, officers, and security holders, (i) the receipt by the locked - up party from us of shares of Class A common stock or Class B common stock upon (A) the exercise or settlement of stock options or RSUs granted under a stock incentive plan or other equity award plan described in this prospectus or (B) the exercise of warrants outstanding and which are described in this prospectus, or (ii) the transfer of shares of Class A common stock, Class B common stock, or any securities convertible into Class A common stock or Class B common stock upon a vesting or settlement event of our securities or upon the exercise of options or warrants to purchase our securities on a «cashless» or «net exercise» basis to the extent permitted by the instruments representing such options or warrants (and any transfer to us necessary to generate such amount of cash needed for the payment of taxes, including estimated taxes, due as a result of such vesting or exercise whether by means of a «net settlement» or otherwise) so long as such «cashless exercise» or «net exercise» is effected solely by the surrender of outstanding stock options or warrants (or the Class A common stock or Class B common stock issuable upon the exercise thereof) to us and our cancellation of all or a portion thereof to pay the exercise price or withholding tax and remittance obligations, provided that in the case of (i), the shares received upon such exercise or settlement are subject to the restrictions set forth above, and provided further that in the case of (ii), any filings under Section 16 (a) of the Exchange Act, or any other public filing or disclosure of such transfer by or on behalf of the locked - up party, shall clearly indicate in the footnotes thereto that such transfer of shares or securities was solely to us pursuant to the circumstances described in this bullet point;

Note that there is a «surrender period,» which is the period of time that a policyholder must wait before it is possible to receive the cash value of the policy upon canceling.

Terminal Illness / Nursing Home Care Rider After the first policy year, the withdrawal charge on withdrawals up to 50 % of the Cash Surrender Value ($ 1,000 minimum) is waived upon the occurrence of one of the following events for the Owner: (a) Terminal illness (life expectancy of 12 months or less).

Otherwise, the cash surrender value may be exposed to creditors depending upon a variety of factors, including local state law provisions.

On the other hand, if you own permanent life insurance, the policy may have a cash surrender value (CSV), which you can receive upon surrendering the insurance.

How they benefit is by being able to obtain the true value of the policy instead of merely receiving the cash surrender value upon surrender or nothing upon letting the policy lapse.

The life insurance cash value is the amount of money you are given if you cancel (surrender) the policy before you die, while the face amount (death benefit) is the amount your beneficiaries will be paid upon your death.

Cash Surrender Value for Deferred Annuity Products The amount payable to the policy owner upon surrender of thSurrender Value for Deferred Annuity Products The amount payable to the policy owner upon surrender of thsurrender of the policy.

In the early years of a policy, life insurance companies can deduct fees upon cash surrender.

Cash surrender value is the accumulated portion of a permanent life insurance policy's cash value that is available to the policyholder upon surrender of the polCash surrender value is the accumulated portion of a permanent life insurance policy's cash value that is available to the policyholder upon surrender of the polcash value that is available to the policyholder upon surrender of the policy.

Upon approval, they can surrender the current policy and get the cash value?

In just one section, titled: Federal Tax Lien, the article states: «Section 6321 of the Internal Revenue Code imposes a tax lien «upon all property and rights to property, whether real or personal,» belonging to a taxpayer, if he or she neglects or refuses to pay any taxes, including cash surrender values of insurance policies.»

• Cash value accumulation means that contract terms and conditions upon surrendering must not exceed its net single premium which is said to be paid at the time the contract has been obtained to acquire future benefits.

Permanent life insurance has cash value upon surrender, offers savings you can use when accumulated, or even dividends for certain types of policies.

Any outstanding loan, with accrued interest, will be subtracted from the death benefit or cash value, upon death or surrender, respectively.

A withdrawal will reduce your cash value and surrender value by the amount of gross withdrawal, and will also reduce the face amount of the contract (the amount paid to beneficiaries upon the insureds death) by the amount of the withdrawal as well.

This is not necessarily the same as the cash value, which is calculated before any fees are taken upon surrender.

It has a cash value and a dividend which you can collect either in the form of a policy loan or upon surrender of the policy.

In case you're surrendering a cash - value policy, the proceeds due upon surrendering will go to the beneficiaries.

Upon surrender, the insurer pays the accumulated cash value less any surrender charges specified in the policy.

Paid - up additional insurance increases the total death benefit as well as the cash value the policy owner can either borrow as a loan or receive upon the cash surrender of the policy.

Repayment of loans from policy values upon surrender or lapse can trigger a potentially significant tax liability and there may be little or no cash value remaining in the policy to pay the tax.

The policy contains a fixed and guaranteed schedule of the cash values that the policyowner may borrow for any reason (such as an emergency or opportunity) at any time, or take upon surrendering the contract.