Sentences with phrase «face value of the insurance policy»

Payment for the face value of the insurance policy or death benefits, which your beneficiary or beneficiaries will receive after you pass away

Payment for the face value of the insurance policy or death benefits, which your beneficiary or beneficiaries will receive after you pass away

However the face value of the insurance policy can be supplemented by various other benefits that can make an advantageous addition to the primary coverage.

This is to ensure that people don't purchase a life insurance policy, and then commit suicide just to their family now has the face value of the insurance policy.

It used to be that most life insurance policies were left in force in order that the intended beneficiaries could receive the face value of the insurance policy upon the death of the insured.

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

Not exact matches

A portion of your premium pays for life insurance coverage equal to the face value of the policy.

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).

If you die as the direct result of a vehicular, air, or sea accident that you did not deliberately cause, your insurer will pay your beneficiary the accidental death benefit, which is normally twice the value of your insurance policy's face value.

While key employee life insurance is usually purchased for high - earners, you should note that the face value of the policy is often limited to a multiple of the insured's income, such as 10X.

A portion of your premium pays for life insurance coverage equal to the face value of the policy.

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).

If you die within the time period defined in the policy, the insurance company will pay your beneficiaries the face value of your policy.

Level Term Insurance: A type of term life insurance policy where the face value remains the same throughout the period specified in the insurancInsurance: A type of term life insurance policy where the face value remains the same throughout the period specified in the insurancinsurance policy where the face value remains the same throughout the period specified in the insuranceinsurance policy.

«Say you buy a permanent life insurance policy on a child for [a face value of] $ 50,000,» said Kevin M. Lynch, an assistant professor of insurance at The American College of Financial Services, giving a hypothetical example of how such a provision would work.

According to the book, which I actually read many years ago, Dryden started the company by selling burial policies with a face value of $ 100 to working class families who couldn't otherwise afford life insurance.

If you have a temporary need for additional life insurance above the current face value of your existing policy and want an affordable way to have coverage, considering a term rider might be a solution for you.

The death benefit can also be defined as the face value or face amount of a life insurance policy.

Not only would your beneficiary receive the death benefits, or «face value» of the life insurance policy, but you are also accumulating a «living» benefit — the cash value that accumulates in the saving / investment component of your policy.

In many of these cases, a term life insurance policy is often the most inexpensive choice and the full face value of the policy pays out on the policy holder's death.

Although the face value (death benefit) is typically smaller than that of a traditional life insurance policy, so are the premiums.

Collateral assignment secures a loan in case of the borrower's death, using the face value of the policy (rather than accrued equity, as is the case with whole life insurance).

Upon the policyholder's death, usually the insurer pays the face value of the death benefits for whole life insurance policies.

You may have group life insurance through work, but the face value of employer - based policies is generally low — typically one or two times your annual salary.

Disadvantages: If you decide not to repay the loan, it will drop the face and cash value of your life insurance policy.

Remember, if you decide that selling a life insurance policy is a good idea for you, the influx of cash you will receive is only a fraction of the face value of the policy and the amount that your beneficiaries would receive upon your death.

As your child grows into an adult, this rider allows you to buy additional life insurance above the face value of the current policy (on specific dates and in certain increments) regardless of his / her health status at the time.

Life Insurance Gifts There are several ways to donate life insurance: • You may contribute the face value of thInsurance Gifts There are several ways to donate life insurance: • You may contribute the face value of thinsurance: • You may contribute the face value of the policy.

In other words, the plaintiff in an insurance bad faith case may be able to recover an amount that is much larger than the original face value of the policy.

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.

Remember that the entire face value of a life insurance policy can pay out to your beneficiaries, generally tax - free.

Should you die while the policy is in force, your beneficiaries will receive not only your the initial face value as a death benefit, but also it's common for dividends to buy additional insurance by way of what are called «paid up additions», so the death benefit could actually be higher than the face value at the purchase of the policy.

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.

As an example of this concept in action, consider a whole life insurance policy issued for a face value of $ 100,000.

A life settlement is the sale of an existing life insurance policy to an institutional investor at a price higher than the current cash surrender value, but lower than the face amount of the policy.

If you were to die before the waiting period is over, the insurance company will not pay out the face value of the policy, but some companies will refund your premiums.

Generally these can be taken under one of three possible non-forfeiture options: (1) surrender for full cash value; (2) use of the cash value to purchase reduced paid - up life insurance; and (3) use of the cash value to purchase extended term insurance in the full face amount of the original policy for as long as the cash value will pay net premiums.

The life insurance cash value is the amount of money you are given if you cancel (surrender) the policy before you die, while the face amount (death benefit) is the amount your beneficiaries will be paid upon your death.

If you have one of these policies, and you die before the waiting period is over, the insurance company is not legally obligated to payout the face value of the policy.

A potential client called recently asking if he could purchase a guaranteed universal life insurance policy with $ 100,000 face value at the age of 75.

Like all Life Insurance, Term Life Insurance companies will pay the face value of your policy tax - free to your designated beneficiary (or beneficiaries) in the event of your untimely death.

Final Expense Insurance / Burial Insurance policies tend to have face values of $ 2,000 to $ 40,000 (amounts vary, depending on the insurer).

The average face value of a burial insurance policy is currently $ 10,000.

All permanent life insurance policies provide a cash value feature that grows tax - deferred, but the cash value is different than the death benefit, or face value of the policy.

There are 38 million life insurance policies owned by American seniors over the age of 65, which have a collective face value of more than $ 3 trillion.

The convertible insurance policy provides the option to change the face value of the policy into a cash - value policy offered by the insurer in case you reach 65 years of age and are not financially secure enough to go without insurance.

Another condition of guaranteed issue life insurance is the lower face values life insurance companies offer on these policies.

The insured will have a choice to expand the face value of his life insurance policy.

Offering a customizable term policy and guaranteed issue whole life policy, AIG American General continues to rank very high in most affordable term life insurance providers and offers one of the highest policy face values with a medical exam in the industry.

A portion of your premium payment goes to pay for the actual whole life insurance coverage that is an amount equal to the face value of the policy.