Sentences with phrase «initial face value of the policy»
If you choose to pay off the loan, your death benefit will be reinstated as the initial face value of the policy (plus the entire cash - value amount earned while owning the policy, if you have requested that option).
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Like other UL policies, an IUL policy offers a high degree of flexibility and customization and accumulates tax - free value above and beyond its initial face amount.
Should you die while the policy is in force, your beneficiaries will receive not only your the initial face value as a death benefit, but also it's common for dividends to buy additional insurance by way of what are called «paid up additions», so the death benefit could actually be higher than the face value at the purchase of the policy.
It has the cheapest initial premium of any policy and begins with a high face value.
Face value is the initial value of the policy.
Like other UL policies, an IUL policy offers a high degree of flexibility and customization and accumulates tax - free value above and beyond its initial face amount.
For example, the initial face amount of coverage of a $ 200,000 decreasing term life insurance policy decreases by $ 20,000 each year, until after 10 years the face value of the policy equals zero.