Sentences with phrase «increase death benefit payments»

As the policy holder maintains the premium payment schedule, a portion of those payments goes toward increasing the death benefit payment.

Not exact matches

Buying paid - up additions is similar to buying a small single - premium life insurance policy as you increase the policy's cash value and death benefit but don't have ongoing payments.

Buying paid - up additions is similar to buying a small single - premium life insurance policy as you increase the policy's cash value and death benefit but don't have ongoing payments.

The company also offers an enhanced package called their Personal Auto Enhancements Endorsements, which adds among other features accidental death payments, and increased benefit limits for medical payments or accidents / trip interruptions incurred while away on vacation.

Flex - Pay Paid - Up Additions Rider: allows you to make additional payments into your policy to increase the cash value and death benefit.

Adding a paid up additions rider or paid - up additional insurance rider allows you to make additional monthly or annual payments into your policy to increase the death benefit and cash value.

With most universal life policies, the premium payments can be increased or decreased and the death benefit can be increased or decreased.

Value Enhancement Rider: The VER is a whole life insurance rider that allows you to add additional single or periodic premium payments to your policy to purchase paid up additions, increasing your death benefit and cash value.

It's the only policy that lets you change premium payments and increase or decrease your payout (death benefit) amount.

The Additional Life Insurance Rider (ALIR) allows the owner of the policy to make increased premium payments in order to purchase additional participating paid up life insurance, increasing the policy's death benefit and cash value growth.

With universal policies (universal life and variable universal life) you can reduce or increase the amount of the death benefit and vary the amount or timing of premium payments, subject to certain limitations.

Additional Paid Up Insurance (API) Rider: allows you to add additional premium payments to your policy to purchase «paid - up» life insurance, increasing your death benefit and cash value.

Universal life insurance offers flexible premium payments and a death benefit than can be increased or decreased depending on your needs.

You may purchase Additional PIP coverage, to raise the overall limit of No - Fault benefits available in case of an accident up to $ 100,000 or higher and, in the process, increase the potential maximum amounts of lost earnings payments, other necessary expenses or the death benefit, depending on the limit you select.

It's the only policy that lets you change premium payments and increase or decrease your payout (death benefit) amount.

Buying paid - up additions is similar to buying a small single - premium life insurance policy as you increase the policy's cash value and death benefit but don't have ongoing payments.

For example, a rider that accelerates the payment of a life insurance death benefit should increase the life settlement price of the life insurance policy in the secondary market.

The policy owner can be given a cheque from the insurance company for the dividends, the dividends can be used to reduce the premium payment, or the dividends can be reinvested back into the policy to increase the death benefit and the cash value at a faster rate.

Because the life insurance policies are not counted as part of a person's estate, allocating a portion of your wealth to a whole life insurance plan can be an effective way to reduce your estate's size by reducing available cash on hand while increasing your heirs» inheritance through legally avoided estate taxes, probate fees, and the payment of a large death benefit.

As long as sufficient premium payments are made on a timely basis (exactly as illustrated), no unscheduled loans or partial withdrawals are taken, no increase in face amount or changes in death benefit options are made, and policy loan value does not exceed the policy's cash surrender value, the insurance coverage will remain in effect.

After your initial payment, you have the option of reducing or increasing the amount of your death benefit.

Last but not least, since the policy is whole life the payments won't increase, the policy won't expire, and the death benefits won't decrease.

With an increasing death benefit you are buying more insurance, so the payment would be $ 270,000 ($ 250,000 plus $ 20,000).

The increasing death benefit option on universal life insurance works by building cash value in addition to the death benefit, instead of using the cash value to offset the payment of the death benefit claim.

This often happens regardless of any increases in premium payments or decreases in death benefits made by the policyholder.

With universal life, you can increase your death benefit if that suits your needs, or you can trim your payments if your monthly budget gets tight.

But, the policyholder may simply increase the premium payments or lower the death benefit (or both) to keep the policy in force at any time.

This option makes the most sense after premium payments are no longer due for a life insurance policy and there is no need to increase the death benefit through the purchase of additional paid up coverage.

Whole life insurance does give the policy owner the option of using dividend payments to purchase additional paid up insurance, so hypothetically a whole life policy can have an increasing death benefit over time if this dividend option is chosen.

You can reduce or increase your death benefit, and also pay your premiums at any time and in any amount (subject to certain limits) after you've made your first premium payment.

The policyholder may need to increase payments to keep the policy active or to maintain a specific death benefit according to the performance of investment products and the premiums remitted.

Other features include the ability to increase or decrease the death benefit as the insured's needs change; the ability to change the amount and / or the timing of the premium payment; and the ability to choose which investment options may be able to help the policy holder to meet best his or her retirement income needs the best.

Split dollar insurance: An arrangement between two people (often an employer and an employee) where life insurance is written on the life of one who also names the beneficiary of the net death benefits (death benefits less cash value), and the other is assigned the cash value (or equivalent amount of death benefits), with both sharing the premium payments (usually the noninsured paying a portion equal to the increase in cash value each year and the insured paying the balance of the annual premium).

The Additional Life Insurance Rider (ALIR) allows the owner of the policy to make increased premium payments in order to purchase additional participating paid up life insurance, increasing the policy's death benefit and cash value growth.

Additional Paid Up Insurance (API) Rider: allows you to add additional premium payments to your policy to purchase «paid - up» life insurance, increasing your death benefit and cash value.

Paid Up Additions: allows you to add additional premium payments to your policy to purchase «paid - up» life insurance, increasing your death benefit and cash value.

Value Enhancement Rider: The VER is a whole life insurance rider that allows you to add additional single or periodic premium payments to your policy to purchase paid up additions, increasing your death benefit and cash value.

Staggered payment with increasing annual income @ 5 % p.a, wherein 20 % of Death Benefit is received at the time of claim settlement with the balance proceeds being received as an annual income.

That way you have an ever increasing death benefit and cash value account that you no longer have to make premium payments on.

Some policies might reach a point at which you'd have to significantly increase premium payments to keep the plan from expiring early, minimizing the potential for a death benefit.

You have the liberty to reduce or increase your death benefit and also to pay your premiums at any time and in any amount (subject to certain limits) after your first premium payment has been made.

Someone who is looking for a term plan with a range of cover options like: a) Additional accidental death benefit or b) Increasing life cover during important milestones of life or c) Partial lumpsum payment to family members after death and remaining in monthly payments or d) Big lumpsum payment to family members after death and additional monthly payments If you also have one or more of the above listed requirements, then HDFC Life Click 2 Protect Plus plan is for you.

Or, you can keep your payment levels steady and increase your death benefit over time.

It will be Rs. 8.44 per Rs. 1000 Sum Assured and will not increase during the Death Benefit payment period.

In some cases, policyowners may withdraw the additional cash value without otherwise affecting their death benefits, premium payments, and minimum guaranteed cash values; the insurer may permit policyowners to reduce the level of future premium payments while maintaining the same face amount of coverage; the insurer may allow policyowners to increase the face amount of coverage while maintaining the same premium level; policyowners may keep the face amount and the premium payment level the same but shorten the required premium - payment period; or they may choose some combination or variation of these options.