Sentences with phrase «death benefit life insurance means»

Not exact matches

Due to the lifetime coverage and cash value, whole life insurance costs considerably more, meaning it can easily come to 10 times the cost of a term policy with the same death benefit.

A term life insurance policy offers coverage for a specified period of time, meaning that if you die during the term of the policy the beneficiary will receive the specified payout (also known as the death benefit or face value of the policy).

Term life insurance death benefits only range from $ 10,000 to $ 100,000, meaning you may not be able to cover larger financial obligations, such as a mortgage.

That means that the death benefit is still a life insurance benefit, and is therefore tax exempt.

That means your life insurance death benefit may continue to grow as you get older.

Life insurance policies in fact are so popular that earlier the product which was meant simply to provide death benefit, nowadays has started offering many different features which offer growth in investment, an opportunity to invest in the market, investments that are goal oriented and much more.

Colonial Penn's term and whole life insurance products don't require a medical exam and have a maximum death benefit of $ 50,000, meaning you'll typically pay higher premiums and won't be able to purchase a greater amount of coverage should your financial needs change.

A term life insurance policy offers coverage for a specified period of time, meaning that if you die during the term of the policy the beneficiary will receive the specified payout (also known as the death benefit or face value of the policy).

The maturity clause of a life insurance policy is fairly complicated, but this basically means that the value you would be able to keep by surrendering the policy becomes larger than the total death benefit.

A key advantage of an ILIT as compared to personally owning the insurance policy is that if the trust is set up and administered correctly, the assets owned by the ILIT will not be considered part of your estate for federal inheritance / estate tax purposes — meaning your heirs won't have to pay estate or inheritance taxes on the life insurance death benefits that are paid.

Life insurance goes into effect as soon as you make your first premium payment, meaning you're eligible for the death benefit as soon as the policy is in force.

Your life insurance version will include a guaranteed death benefit, which means your beneficiary will receive the amount invested, minus a withdrawal fee.

It's important to note if you take out a loan on your whole life insurance policy and die while the loan is out, the death benefit may be used to pay back the outstanding amount, meaning your beneficiaries won't get the full amount.

Because term is so much cheaper than whole life insurance, you can buy a lot more coverage (meaning a larger death benefit) for the same amount of money.

That means that, in addition to covering your life, your life insurance policy will provide a death benefit in the case that one of your children passes away.

I've tended to prefer term insurance for death benefit needs and traditional, portfolio - based (meaning investment returns are driven by the insurance company's general portfolio / account) whole life insurance with a mutual insurance company for permanent death benefit and cash accumulation needs.

The Silver Guard l plan offers a guaranteed level amount of death benefit, which means that from the date of policy issue, the amount of the life insurance coverage will never decrease.

These policies are offered as whole life insurance, which means that the plan has death benefit protection, as well as a cash value, or savings, component.

Which means we make consider a specific face amount should be enough but in reality that number could change real easy due to inflation and additional liabilities requiring more life insurance in the form of a higher death benefit.

If you're not completely sure what term insurance means, then to put it simply, it is a life insurance which solely covers death benefits and which is only payable if you die during the life of the policy.

These are whole life insurance plans which means that there is both death benefit protection, as well as a cash value component.

These plans are typically offered as whole life insurance — which means that there is both death benefit protection and a cash value / savings component in the plan.

Term life insurance death benefits only range from $ 10,000 to $ 100,000, meaning you may not be able to cover larger financial obligations, such as a mortgage.

Guaranteed Issue Graded Benefit Whole Life Insurance: Available for ages 45 - 80, this guaranteed issue life insurance comes with a two year graded death benefit, meaning it will pay 100 % of the death benefit in the first two years only if the death is acciBenefit Whole Life Insurance: Available for ages 45 - 80, this guaranteed issue life insurance comes with a two year graded death benefit, meaning it will pay 100 % of the death benefit in the first two years only if the death is accidenLife Insurance: Available for ages 45 - 80, this guaranteed issue life insurance comes with a two year graded death benefit, meaning it will pay 100 % of the death benefit in the first two years only if the death is acInsurance: Available for ages 45 - 80, this guaranteed issue life insurance comes with a two year graded death benefit, meaning it will pay 100 % of the death benefit in the first two years only if the death is accidenlife insurance comes with a two year graded death benefit, meaning it will pay 100 % of the death benefit in the first two years only if the death is acinsurance comes with a two year graded death benefit, meaning it will pay 100 % of the death benefit in the first two years only if the death is accibenefit, meaning it will pay 100 % of the death benefit in the first two years only if the death is accibenefit in the first two years only if the death is accidental.

Both of these policies are whole life insurance, meaning that they offer death benefit coverage, as well as a cash value component.

However, it is not uncommon to see a buy / sell arrangement that has nothing but funding, meaning that, should one of the business owners die, a life insurance death benefit would be payable to the business (in an entity buy / sell) or the surviving partners (cross-purchase), which can be used to purchase the deceased business owner's shares or interests.

That means the death benefit on mortgage life insurance decreases over the years just like your falling loan principal.

While this means there will be no death benefit left over after the policy expires, it also means the mortgage life insurance premiums will be very low despite the policy having a very high death benefit in the early years.

This means that the life insurance policy purchased to fund the death portion of the buy - sell agreement can not be transferred to the disabled owner or dropped until the end of the installment period, because the death benefit will be needed to complete the transaction in the event of death during the buyout period.

It's important to note if you take out a loan on your whole life insurance policy and die while the loan is out, the death benefit may be used to pay back the outstanding amount, meaning your beneficiaries won't get the full amount.

That means more premiums paid and, for the 20 percent of joint policies that are made up of term life insurance, a higher chance that the death benefit won't be paid out at all (because the policies will expire before the policyholders do).

In this easy - to - understand explainer, learn what term and whole life mean, how death benefit payouts work, how life insurance companies make money and more.

Because term is so much cheaper than whole life insurance, you can buy a lot more coverage (meaning a larger death benefit) for the same amount of money.

That means that, in addition to covering your life, your life insurance policy will provide a death benefit in the case that one of your children passes away.

Much like term insurance, whole life insurance is meant to provide your loved ones a degree of financial security by way of a death benefit.

Life insurance is a self - completing financial product, meaning that while it might take years or decades to save for a home or retirement, the value of a life insurance policy is instant; if you die, your loved ones immediately get the death benefit to keep their financial goals on trLife insurance is a self - completing financial product, meaning that while it might take years or decades to save for a home or retirement, the value of a life insurance policy is instant; if you die, your loved ones immediately get the death benefit to keep their financial goals on trlife insurance policy is instant; if you die, your loved ones immediately get the death benefit to keep their financial goals on track.

Life insurance goes into effect as soon as you make your first premium payment, meaning you're eligible for the death benefit as soon as the policy is in force.

An accelerated death benefit can be added to a life insurance policy as a rider, so it's important to know just what that means.

However, if the misrepresentation is discovered after you die, the life insurance company may cancel the policy without ever paying the death benefit, meaning that you paid for life insurance coverage all those decades and your beneficiaries will receive nothing.

A term life insurance policy offers coverage for a specified period of time, meaning that if you die during the term of the policy the beneficiary will receive the specified payout (also known as the death benefit or face value of the policy).

An IUL is a standard universal life insurance policy by means of death benefit, but the growth inside is tied, in part, to different indices of the stock market.

The universal portion means that premiums are flexible and the components of the life insurance policy (death benefit, savings element and premium) can be altered throughout the contract.

-- The term «reportable death benefits» means amounts paid by reason of the death of the insured under a life insurance contract that has been transferred in a reportable policy sale.».

This means that even if you have drawn on a particular rider, you remain eligible for the death benefit on the life insurance plan.

Many of these product options are permanent life insurance coverage, which means that there is both a death benefit, as well as a cash - value component of the policy.

Transamerica's final expense life insurance is a whole life insurance policy — which means that it provides a death benefit and a premium amount that is locked in a guaranteed.

With a term life insurance policy, the insured is covered by death benefit protection only, which means that there is not cash value or savings build up within the policy.

This means you must pass away as a result of an accident covered by the life insurance policy in order for your family (beneficiary) to receive the death benefit.

There are permanent life insurance policies, which means that they offer both death benefit protection and cash value build up.

Instead, it just means that you may need to explore other options for coverage, like Graded Death Benefit Life Insurance (more information on this in a bit).