Sentences with phrase «deducted against the death benefit»

However, any unpaid balance of cash will be deducted against the death benefit.

Not exact matches

Keep in mind that if you've borrowed against the cash value of your policy and pass away, the loan will be deducted from the policy's death benefit.

If you pass away after and have borrowed against the cash value of your policy, the amount borrowed will be deducted from the death benefit.

For Lifeguard Freedom Flex DB, the Roll Up Death Benefit or Combination Death Benefit the Fixed Account Options are not available, and the charges are deducted quarterly against the investment options only.

The loan accrues interest while the insured is living and is deducted against the remaining death benefit at the insured's death.

A policy owner who takes a loan against the available cash value may choose to pay back the loan with interest, or to have the amount owed deducted from the death benefit at the time of payout, or to surrender the policy and have the amount owed deducted from the available cash value.

If you have borrowed against the cash value accumulation while still alive, any amount that has not been re-paid, along with interest, will be deducted from the death benefits when you die.

However, if you pass away while a loan is taken out against your policy, the remaining balance that you owe will be deducted from the death benefit your beneficiary receives.

Keep in mind that cash value isn't added on to the death benefit if you die and if you borrow against it, it is deducted from the death benefit if it hasn't been paid back.