Sentences with phrase «decreasing face value policy»

Not exact matches

You pay a flat premium over the duration of the policy, but the face value (death benefit) of the policy decreases over time.

Unlike traditional mortgage life insurance whose value decreases as you pay down your mortgage balance, term life insurance plans pay the full original face value of your policy to your beneficiary.

Unlike traditional mortgage life insurance whose value decreases as you pay down your mortgage balance, the CoverMe Term Life plan pays the full original face value of your policy to your beneficiary.

The other variation — Decreasing term — is the least expensive of all because, while the premium remains unchanged, the face value drops every year, giving the company the greatest risk in the early years of the policy when you are least likely to die.

The face value of a policy decreases as the loan is paid off until both equal zero.

It will continue to decrease until it reaches 20 percent of the original face value of the policy.

The face value amount of the insurance policy typically will decrease as the balance of the debt goes down — until both reach zero.

Many life insurance companies allow a one - time decrease in the face value of the life insurance policy.

Counter to the increasing term, this policy features decreasing face value.

Decreasing term life insurance: Term life insurance on which the face value slowly decreases in scheduled steps from the date the policy comes into force to the date the policy expires, while the premium remains level.

For example, the initial face amount of coverage of a $ 200,000 decreasing term life insurance policy decreases by $ 20,000 each year, until after 10 years the face value of the policy equals zero.

The face value of the insurance policy will decrease as the debt balance decreases, and vice versa.

Decreasing Term Insurance: Term life insurance on which the face value slowly decreases in scheduled steps from the date the policy comes into force to the date the policy expires, while the premium remains level.

You pay a flat premium over the duration of the policy, but the face value (death benefit) of the policy decreases over time.

If you decide to decrease your policy's face value, the price of your coverage is determined solely by your «risk class» at the time you purchased your policy, even if your health has changed.

The policy's benefit, or face value, will typically be tied to your outstanding balance, so it decreases over time as you pay off the loan.

A decreasing value term life insurance life policy such as mortgage insurance has the drawback of having equal premiums throughout the course of the policy while the face value of the policy decreases over the same period.