Sentences with phrase «insured value of the building»

The cost is minimal since residential insurance policies base their rate on the insured value of the building or the insured value of contents.

Not exact matches

The typical home insurance policy builds in ALE coverage at 20 percent of your home's insured value.

A type of policy that does not expire during the life of the insured and combines a death benefit with a savings portion that can build cash value.

Earthquake insurance insures the value of the house not the land value (aka purchase price of the home before the earthquake) Ex bay area houses might cost 200k to build but sell for a million.

Insurance providing the amount payable to the insured as the replacement cost of the property new, rather than the depreciated value applied to the building structures or contents.

With either of these options, the insured's family has coverage and are building up some sort of cash value.

Homes built with materials like marble and hardwoods are usually more expensive to insure than homes without these pricey materials because they increase the replacement value of the home.

Instead of not insuring at all you choose to insure for half the buildings value.

This insurance coverage protects building owners against loss of income when rentals have been interrupted or rental value has been impaired by the occurrence of any of the insured perils.

If your building is valued $ 100,000 and you have a 90 % co-insurance then you must insure a minimum of $ 90,000.

An investor had bought a six - plex apartment building five years ago and had been incorrectly insuring the property for the sum of the market values of all the units.

For example, the building may be insured at Replacement Cost Value, the most of the contents insured at Actual Cash Value and a few specific items at a Fixed Value (antiques).

Coverage may also be continued beyond the level premium period by payment of increasing annual premiums, and the policy will continue to build cash value until the policy anniversary nearest the insured's 95th birthday when the cash value will equal the face amount of the policy.

Whole life policies build up cash value slowly at first, but then pick up the pace after several years, when your earnings start to grow faster than your «mortality cost» (the cost of insuring you).

These policies would typically cost more up front, since the insurance company needs to build up sufficient cash value within the policy during the payment years to fund the policy for the remainder of the insured's life.

This policy may also be converted over into a permanent form of coverage that can build cash value, regardless of the insured's health condition.

The additional perceived costs associated with whole life insurance are often in the inflated premiums that help to build cash value and allow the contract to remain in force for the life of the insured.

With the simple whole life insurance, the insured will maintain guaranteed level premiums for the lifetime of the plan, while at the same time building up a stable cash value.

This means that the insured will be covered with a death benefit throughout the remainder of his or her lifetime — provided that the premium is paid — as well as having the ability to build up funds in a cash - value component of the policy.

If your contents or building are insured on an actual cash value basis, then you will only get the depreciated value at the time of loss.

If that occurs, the insured will then be covered for the remainder of his or her lifetime (provided that the premium continues to be paid), and they will be able to build up cash value in a tax - deferred manner.

The insured person is covered for life (sometimes until age 100), and a portion of the policy is invested by the insurance company, building cash value on a tax - deferred basis over time.

After all, you can save a lot of money if you insure a building for, say, half of its replacement cost or actual cash value.

With each payment you make to a permanent life insurance policy, part of your premium goes toward insuring your life, and part goes toward building cash value... that can be used to take out a loan, make a withdrawal, or even skip a payment.

If this is the case, then shouldn't you insure your building for only a portion of its value?

For example, because this type of coverage includes a cash value component, an insured can build up savings on a tax - deferred basis to use for a number of needs, such as paying off debts, funding a child or grandchild's college education, or supplementing retirement income on a tax - free basis.

While term life insurance does not build cash value like whole and universal, there is a return of premium term life policy which refunds the premiums paid if the insured person survives the term.

Building value should be related to the present day cost of reconstruction however contents should be insured for their market value.

With non-guaranteed universal life insurance, the insured pays the premium of their life insurance as well as some additional money to «overfund the policy» and build cash value.

With universal life insurance, the insured pays the premium of their life insurance as well as some additional money to «overfund the policy» and build a cash value.

Theoretically, the cash value gains interest over the long haul, allowing the policy to pay for itself out of the cash accumulation account, while the insured continues to build cash value.

In a non-guaranteed universal life policy, the insured pays the premium of their life insurance as well as some additional money to «overfund the policy» and build cash value.

With a cash value life insurance policy, a portion of each premium you pay goes toward insuring your life (the face value), while the other portion goes to building up a cash value.

Sometimes called a hybrid of whole life and term life policies, universal life insurance is a less costly form of insurance that also builds cash value and covers the insured for life.

Some of the benefits that are provided by this policy include a death benefit or a monetary value that is built up and can be availed of by the insured during his lifetime, to be used for retirement or even college funding for members of the family.

The technical answer to what is loss of use coverage on Manhattan, NY renters insurance is «If a loss by a peril insured against under this policy to covered property or the building containing the property makes the residence premises not fit to live in, we cover at your choice either of the following:... any necessary increase in living expenses incurred by you so that your household can maintain its normal standard of living; or... the fair rental value of that part of the residence premises where you reside...»

In order to build a cash value, universal life insurance policies require the insured to overpay for the cost of their life insurance to accumulate a cash value.

With whole life, an insured has both life insurance and a cash value component where they can build up a significant amount of savings over time.

While the insured person is alive, life insurance policies continue to take in money against the eventual payout, building value towards the eventual time when the cash value of the policy is due.

Appraisers and assessors of real estate provide a value estimate on land and buildings usually before they are sold, mortgaged, taxed, insured, or developed.

Appraisers and assessors of real estate provide a value estimate on land and buildings usually before they are sold, mortgaged, taxed, insured, or developed.