Sentences with phrase «funds in a permanent life insurance policy»

The death benefit of a life insurance policy is the amount paid out upon the death of the insured, while cash value refers to the amount of funds in a permanent life insurance policy's cash account.

Not exact matches

Variable Universal Life (VUL) is defined as a type of permanent insurance policy, in which the cash value can be invested into different accounts consisting, for example, of stocks, bonds and mutual funds.

Variable Life Insurance policies combine the benefits of a Permanent Life Insurance Policy with the benefits of a savings account, with which you can invest in stocks, bonds, money market accounts or mutual funds.

With a permanent life insurance contract, you have the flexibility to surrender the policy and supplement your retirement income with the funds that have accumulated in the policy's cash value account.

Know that if you do withdraw or borrow the funds that are in a permanent life insurance policy, that you can use the money for any reason.

If purchasing a permanent life insurance policy, the savings in the cash value portion of the policy can also be used for funding future goals such as college savings.

But in order to save you time we would be remiss not to stress the importance of funding an irrevocable life insurance trust with some type of permanent policy.

The death benefit of a permanent life insurance policy is needed, at least in part, to ensure that funds are there for your children's college education if you are to die prematurely.

Funds that are in a permanent life insurance policy's cash value can be either borrowed or removed by the policy holder for any purpose, such as supplementing retirement income, paying off debt (typically higher interest debt such as credit card balances), purchasing a new vehicle, paying for a child or grandchild's college education, or for going on a long - awaited vacation.

While policy owners are allowed to withdraw funds from the cash value component of a permanent life insurance policy — subject to the amount of the available funds that are in the account — a withdrawal that exceeds the amount of cumulative premiums that have been deposited can be taxed.

In addition, the funds in the cash value component of permanent life insurance policies are allowed to grow on a tax - deferred basiIn addition, the funds in the cash value component of permanent life insurance policies are allowed to grow on a tax - deferred basiin the cash value component of permanent life insurance policies are allowed to grow on a tax - deferred basis.

The funds that are in the cash value component of a permanent life insurance policy may be withdrawn or borrowed by the policyholder for any reason that they see fit — including the payoff of debts, the supplementing of retirement income, or even for taking a nice vacation.

Variable Life Insurance policies combine the benefits of a Permanent Life Insurance Policy with the benefits of a savings account, with which you can invest in stocks, bonds, money market accounts or mutual funds.

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Variable Life Insurance: A type of permanent life insurance in which the death benefit and the policy value vary in relation to the investment experience of a selected fund in which the policy values are invesLife Insurance: A type of permanent life insurance in which the death benefit and the policy value vary in relation to the investment experience of a selected fund in which the policy values are Insurance: A type of permanent life insurance in which the death benefit and the policy value vary in relation to the investment experience of a selected fund in which the policy values are inveslife insurance in which the death benefit and the policy value vary in relation to the investment experience of a selected fund in which the policy values are insurance in which the death benefit and the policy value vary in relation to the investment experience of a selected fund in which the policy values are invested.

When the person chooses a permanent, universal or whole life insurance policy, part of the money that he or she pays in premiums is used to fund an investment savings plan.

An emergency fund, in the context of insurance, would refer to the feature in permanent life insurance policies that allow the insured to withdraw cash for the purposes of paying unexpected expenses or fulfilling other monetary needs.

Variable Universal Life (VUL) is defined as a type of permanent insurance policy, in which the cash value can be invested into different accounts consisting, for example, of stocks, bonds and mutual funds.

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In order for these trusts to work properly, your trust should be funded by a permanent life insurance policy that you will not outlive.

Term life insurance can be sufficient but the accumulated cash value in a permanent life policy can help prepare for the long - term future, and even fund college education.