Sentences with phrase «component accumulate cash value over time»
Whole Life and other policies with an investment component accumulate cash value over time.
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As you pay your premiums, over time you begin to accumulate a cash - value component you can borrow against.
In addition to the life insurance coverage that is provided with a permanent plan, this type of policy will also include a cash value component where cash can accumulate on a tax deferred basis over time.
Whole life insurance has a cash value component that may accumulate over time, and is one of the key benefits of owning a whole life insurance policy.
Permanent life insurance policies also contain an investment component that allow the policy to accumulate cash value over time.
The living benefit is the cash value or savings component of the policy that grows over time as interest income accumulates.
Policy premium payments are typically fixed, and, unlike term, whole life has a cash value, which functions as a savings component and may accumulate tax - deferred over time.
This type of permanent policy has fixed premiums as well as a cash value component that accumulates over time.