Sentences with phrase «declining face value policy»
Not exact matches
Many companies have «modified» policies which can have premium increases every five years, but which do not usually decline in face value.
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The policy can be declined or rated (increasing the premium amount to compensate for the higher risk), and the amount of the premium will be proportional to the face value of the policy.
Mortgage life insurance insures a loan secured by real property and usually features a level premium amount for a declining policy face value because what is insured is the principal and interest outstanding on a mortgage that is constantly being reduced by mortgage payments.
Life settlements are arrangements in which seniors in declining health sell their life insurance policies for a portion of the face value and receive immediate cash.