Sentences with phrase «cash upon your passing»

The whole point of a burial insurance policy is to have a vehicle that will pay out cash upon your passing.

Not exact matches

By growing your cash value and death benefit you will be maximizing your legacy because your policy will pay an ever increasing death benefit to your future heirs upon your passing, unlike term life that will most likely expire worthless.

With the cash refund payout option (also known as the death benefit), you are guaranteed that any principal (premium paid into the contract) not yet returned through income payments will be returned to your beneficiary upon your passing.

Typically, Whole Life, the most common type of permanent insurance, not only serves to pay - out your beneficiaries upon your passing, but also has a current cash value that can be borrowed against or cashed - out anytime.

Though it will pay out a stated amount upon the insured's passing, because of its cash value, it can be withdrawn or borrowed against by the policyholder.

By growing your cash value and death benefit you will be maximizing your legacy because your policy will pay an ever increasing death benefit to your future heirs upon your passing, unlike term life that will most likely expire worthless.

You will also need to decide whether you want a permanent policy that will build cash value over time, or a term policy that will simply provide a death benefit to your beneficiaries upon your passing.