Sentences with phrase «given policy face value»

Not exact matches

«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.

The other variation — Decreasing term — is the least expensive of all because, while the premium remains unchanged, the face value drops every year, giving the company the greatest risk in the early years of the policy when you are least likely to die.

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.

While standard whole life insurance policies can provide funeral and burial coverage, final expense no medical insurance policies provide superior coverage given the facts they contain a lower face value than traditional life insurance policies.

These policies offer lower premiums to holders, while maintaining the same face value, which can give customers greater flexibility and control of their coverage and benefits.

Also, the policy, if you live long enough, will eventually endow — meaning the face value and cash value will be equal, at which point the company will give you a check upon request.

Because term life policies may expire before death and variable life policies don't have a guaranteed face value, they don't offer the reliance needed for long - term charitable giving.

The face value of an endowment policy will be given to the policyholder on the «maturity date» or to the beneficiary of the life insurance policy in the event the insured dies.

An adjustable life policy gives you the flexibility to adjust the face value, premium, and length of coverage without having to completely change policies.

Platinum boasts multiple new features at no additional cost, including a return of premium rider, guaranteeing the policy's cash surrender value will never be less than the premium payment; accelerated benefit riders for chronic illness, critical illness, and terminal illness; and a charitable giving rider, a unique feature that provides an additional death benefit of 1 percent of the policy face amount to the applicant's charity of choice.

Louisiana life insurance pays your family (or whomever the beneficiary is on the policy) a given amount, called the «face value», to cover burial costs, any medical bills and to pay for the family's living expenses and / or lost income from the death of the insured on the policy.

If you purchased a rider on your policy that gives the beneficiary both the cash value and face value, then the beneficiary would receive both.

Universal life also gives you the ability to increase the face value of your policy at any time.

Universal life insurance also includes the ability to alter the face value of the policy at a later date, to give the policy owner power over how the premiums are invested, and to even give you some flexibility in when and how much your premiums will be.

Once you have decided upon a face value for your policy, you can be certain that this is the amount given to your life insurance beneficiary when you pass.