Sentences with phrase «increasing death benefit life»

With increasing death benefit life insurance, the death benefit will be available to fund the tax obligation, allowing you to transfer the maximum value of your net worth to your beneficiaries.

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.

The consumer will incur a surrender charge, be subject to the commencement of a new surrender period, lose existing benefits (such as a higher crediting guarantee than is currently available, as well as death, living or other contractual benefits), or be subject to increased fees, investment advisory fees or charges for riders and similar product enhancements;

Participating whole life insurance is eligible to earn dividends, 1 which can increase the death benefit and the cash value.

No medical exam life insurance is more expensive than fully underwritten coverage and typically provides fewer options, such as the ability to increase your death benefit or convert a term policy to permanent coverage.

The consumer will incur a surrender charge, be subject to the commencement of a new surrender period, lose existing benefits (such as death, living or other contractual benefits), or be subject to increased fees, investment advisory fees or charges for riders and similar product enhancements;

While the cash value feature is an attractive option it's important to remember, though, that tapping into the cash value of a life insurance policy reduces its value and death benefit and increases the chance the policy will lapse.

Had the individual purchased permanent life insurance, he or she could have access to a potentially significant source of supplemental retirement income in the future (depending on the policy type), while preserving the death benefit in perpetuity (note, however, that the death benefit and cash value of a policy is reduced in the event of a loan or partial surrender, and the chance of lapsing the policy increases).

Also, tapping into the cash value of a life insurance policy reduces its value and death benefit and increases the chance the policy will lapse.

Under universal life insurance option B, the policy proceeds increase over time and are equal to the cash value plus the death benefit.

No medical exam life insurance is more expensive than fully underwritten coverage and typically provides fewer options, such as the ability to increase your death benefit or convert a term policy to permanent coverage.

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.

In addition, he was able to supplement his whole life policy with a convertible term life insurance rider that significantly increased his death benefit for very little additional cost.

And the death benefit on a properly designed life insurance retirement plan increases each year as your cash value grows, so when you do die, your beneficiary receives the maximum death benefit possible.

This rider is critical, particularly if you are considering life insurance for children or young adults, because if the insured develops a disease or become uninsurable during the policy period, the insurance company allows the insured to increase his or her total life insurance coverage and death benefit at specific times.

For purposes of this post, it just needs to be understood that we can bridge the deficiency of not having enough coverage in our banking policy with a term rider, which can be used to add convertible term life insurance (which results in an increase to the death benefit).

Flex Pay PUA Rider — Paid - up additions riders allow you to pay additional premium into your policy to purchase additional participating whole life insurance, which increases your 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.

In addition, dividends are typically paid on whole life contracts and can be used to either increase the death benefit or reduce the premiums.

Rates for whole life insurance are guaranteed to never increase and the death benefit is guaranteed to never decrease.

The two types of permanent life insurance with an increasing death benefit are participating whole life insurance and universal life (UL) insurance.

What may be sufficient to cover the tax liability today may not be enough down the road, which is why a specific type of permanent life insurance with an increasing death benefit is necessary.

And with features such as paid - up additions, you can greatly enhance your cash value accumulation, which also increases your whole life insurance death benefit.

An indexed universal life insurance policy, aka IUL insurance, or simply IUL, is similar to traditional universal life (UL) in that it offers a death benefit and a cash value account that increases over time.

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 groLife 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 grolife insurance, increasing the policy's death benefit and cash value growth.

A cash value life insurance policy is an asset that can be designed to increase in value, both cash value and death benefit, over time.

Universal life insurance policies offer flexibility in choosing whether you want to set up the policy with a sizable death benefit or begin it with a lower death benefit that increases over time.

By growing your cash value and death benefit you will be maximizing your legacy because your policy will pay an ever increasing death benefit to your future heirs upon your passing, unlike term life that will most likely expire worthless.

North American's Universal Life policy doesn't accrue value or offer dividends to their owners, which means that you don't have much opportunity to increase your policy's death benefit.

The reduction in the death benefit due to policy loans is often not a major drawback as many cash benefit life insurance plans are designed to increase the death benefit over time.

The face value does not always equal the death benefit, particularly when you are dealing with permanent coverage, such as whole life insurance, that has accompanying riders such as PUA riders and term riders and also has life insurance dividends that can increase the death benefit.

So if you get a $ 5,000 raise and your company's life insurance plan will pay two times your income if you die, then your death benefit will increase by $ 10,000.

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.

This kind of insurance can be purchased as a rider on a life insurance policy, often to increase the death benefit, or as a standalone policy.

Also called permanent life insurance, the policy has a cash value and could qualify for annual dividends that increase the cash value and death benefit.

If their situations change, it is unlikely that they will be able to increase or decrease either the premiums or the death benefits on their whole life policies without surrendering them and purchasing new policies.

The dividend paying whole life insurance will enable you to increase your death benefit without having to go through medical qualification or taking an entirely new policy.

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.

Additional Insurance Agreement — option to buy paid up additional life insurance to increase the policy's death benefit.

Unlike other savings vehicles, such as a 401k plan, cash value life insurance also has a death benefit for increased leverage.

Pay one premium and get permanent life insurance protection instantly — plus increase the size of the legacy with a guaranteed death benefit.

A death benefit payout from life insurance provides a fast way to increase an estate's liquidity when it is needed most.

And depending on the IUL death benefit option you choose, both whole life and indexed universal life have an increasing death benefit.

This death benefit is illustrated to continue increasing beyond life expectancy.

You also can reduce or increase the death benefit more easily than under a traditional Whole Life policy.

The annuity income is guaranteed for life, and the insurance premiums are contractually guaranteed not to increase, with the death benefit guaranteed as long as the premiums are paid (which is what the annuity is for).

But keep in mind that loans from a life insurance policy will reduce the policy's cash value and death benefit, could increase the chance that the policy will lapse, and might result in a tax liability if the policy terminates before the death of the insured.

UK death statistics reveal that for every additional summer death due to increased warming, the warmer winters saved 29 lives each year - a huge net benefit.

Cost of Living Increase: If you are receiving temporary total, permanent total, or death benefits, you can request this benefit each October if the combination of workers» compensation and Social Security benefits is less than 80 % of pre-injury earnings.