Sentences with phrase «chance of lapsing the policy»

Had the individual purchased permanent life insurance, he or she could have access to a potentially significant source of supplemental retirement income in the future (depending on the policy type), while preserving the death benefit in perpetuity (note, however, that the death benefit and cash value of a policy is reduced in the event of a loan or partial surrender, and the chance of lapsing the policy increases).

Had the individual purchased permanent life insurance, he or she could have access to a potentially significant source of supplemental retirement income in the future (depending on the policy type), while preserving the death benefit in perpetuity (note, however, that the death benefit and cash value of a policy is reduced in the event of a loan or partial surrender, and the chance of lapsing the policy increases).

Not exact matches

¹ Access to cash values through borrowing or partial surrenders will reduce the policy's cash value and death benefit, increase the chance the policy will lapse, and may result in a tax liability if the policy terminates before the death of the insured.

While the cash value feature is an attractive option it's important to remember, though, that tapping into the cash value of a life insurance policy reduces its value and death benefit and increases the chance the policy will lapse.

Also, tapping into the cash value of a life insurance policy reduces its value and death benefit and increases the chance the policy will lapse.

Skipping or reducing payments may increase the chance of the policy lapsing, and could mean you'll need to increase the premiums in the future.

But keep in mind that loans from a life insurance policy will reduce the policy's cash value and death benefit, could increase the chance that the policy will lapse, and might result in a tax liability if the policy terminates before the death of the insured.

If you have a policy from the Life Insurance Corporation of India (LIC) that lapsed due to some reason, here is your chance to revive it.

¹ Access to cash values through borrowing or partial surrenders will reduce the policy's cash value and death benefit, increase the chance the policy will lapse, and may result in a tax liability if the policy terminates before the death of the insured.

Also, tapping into the cash value of a life insurance policy reduces its value and death benefit and increases the chance the policy will lapse.

While the cash value feature is an attractive option it's important to remember, though, that tapping into the cash value of a life insurance policy reduces its value and death benefit and increases the chance the policy will lapse.

Access to cash values through borrowing or partial surrenders can reduce the policy's cash value and death benefit, increase the chance that the policy will lapse, and may result in a tax liability if the policy terminates before the death of the insured.

If your loan balance exceeds the policy's cash value, your policy could lapse; but insurers give you plenty of chances to pay more money to keep the policy in force.

Access to cash values through borrowing will reduce the policy's cash value and death benefit, increase the chance the policy will lapse, and may result in a tax liability if the policy terminates before the death of the insured.

Also, loans and withdrawals reduce the face amount of the policy and increase the chance a policy may lapse.

This will save your time and money, thereby preventing the chances of the policy lapse.

Skipping or reducing payments may increase the chance of the policy lapsing, and could mean you'll need to increase the premiums in the future.

If you do, there could still be a chance your contact could lapse due to nonpayment of the life insurance policy premiums.

A lapse in payments will be grounds for having your policy cancelled, which might just eliminate your last chance of holding adequate auto insurance in Maryland.

The sooner you call the better your chances of getting that lapsed policy reinstated.

Most companies, at the end of the grace period when the policy is lapsed and no coverage exists, will send another letter and offer a chance to simply pay the past due premium for a short period, usually another 20 or 30 days without requiring a reinstatement application.