Sentences with phrase «entire face value of the policy»
If you pass away during the period of coverage, your beneficiaries would receive the entire face value of the policy.
https://www.valuepenguin.com/
That's because most policies are either not renewable after age 85 or are so expensive that your annual premium can be 50 % or more of the entire face value of the policy.
If you pass away during the period of coverage, your beneficiaries would receive the entire face value of the policy.
Not exact matches
Remember that the entire face value of a life insurance policy can pay out to your beneficiaries, generally tax - free.
You may not have to convert the entire face value of your life policy.
If you choose to pay off the loan, your death benefit will be reinstated as the initial face value of the policy (plus the entire cash - value amount earned while owning the policy, if you have requested that option).
A newly purchased guaranteed issue life insurance policy will pay the entire face value right away if the insured's death is the result of an accident (such as a car crash), or if the insured was the victim of a crime.
The main drawback to guaranteed issue life insurance is that there is a very limited amount of coverage offered (up to $ 25,000), and the policies need to be in effect for two years before paying out the entire face value.