Sentences with phrase «full value of your life insurance policy»

Not exact matches

If you die during the grace period, your beneficiary will receive the full value of the death proceeds of your life insurance policy minus any premium that is owed to your life insurance company.

The benefit of combining the two insurances into one policy is you get life insurance death benefit coverage, help with your long - term care services, cash value growth that can be accessed via policy loans, with full cash surrender value plus return of premium if necessary.

However, the rule does not apply to the sale of a life insurance policy to an ILIT for full and adequate value.

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.

You might provide a basic group term policy to all of your full - time employees and / or fund a bonus plan for key executives with cash - value life insurance.

The selling policyowner receives an upfront cash payment in exchange for transferring ownership of the life insurance policy — typically more than any existing cash value but less than the policy's full death benefit — and the investor as the new owner then continues to make the ongoing / annual premium payments.

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 beneficilife 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 beneficiLife plan pays the full original face value of your policy to your beneficiary.

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 reason is because the policy accrues no cash value (except in the case of Return of Premium Term Life Insurance, where you can get a full refund for all the premiums you've paid at the end of the policy period).

In addition many people, including some life insurance agents don't have a full understanding of how cash value life insurance policies work.

Term life insurance doesn't accrue cash value like several other types of life insurance, but with many term policies, beneficiaries do receive the full face amount.

But by using my own cash, and «becoming the bank,» with my high cash value life insurance policies, I was able to buy both properties, in full, and take advantage of deep discounts, and immediate rental income.

Old - fashioned mortgage life insurance delivers a policy that starts with the full value of your mortgage and then declines as your mortgage balance decreases.

Some may like to take full advantage of a policies cash value that will build during the duration of their life, while others may not be ready to purchase such a plan until a situation that necessitates insurance arises.

As noted earlier, when a life insurance policy is surrendered in full, the gains on the policy are taxable (as ordinary income) to the extent that the cash value exceeds the net premiums (i.e., the cost basis) of the policy.

For example: As you age, the cost of life insurance will increase; and, if you do not pay the full amount of the premiums you owe (to cover the cost of increase), an insurer will reconcile the difference by taking money from the cash value you have in your policy — the cash value of your life insurance will decline — to resolve this divide.

However, the situation is far more problematic in scenarios where the balance of the life insurance policy loan is approaching the cash value, or in the extreme actually equals the total cash value of the policy — the point at which the life insurance company will force the policy to lapse (so the insurance company can ensure full repayment before the loan collateral goes «underwater»).

The selling policyowner receives an upfront cash payment in exchange for transferring ownership of the life insurance policy — typically more than any existing cash value but less than the policy's full death benefit — and the investor as the new owner then continues to make the ongoing / annual premium payments.

The benefit of combining the two insurances into one policy is you get life insurance death benefit coverage, help with your long - term care services, cash value growth that can be accessed via policy loans, with full cash surrender value plus return of premium if necessary.

A modified endowment contract is a cash value life insurance contract in the United States where the premiums paid have exceeded the amount allowed to keep the full tax treatment of a cash value life insurance policy.

If you're seeking a simplified issue policy, — for which only a medical questionnaire is required, rather than a full exam — a wider range of death benefits are typically offered for simplified issue guaranteed universal policies than for simplified issue whole life insurance (which typically have a maximum face value of around $ 50,000).