Sentences with phrase «life insurance policyholders face»

The cons whole life insurance policyholders face is the decrease in the death benefit or face value in slow economic times or if a loan is made against it.

Not exact matches

Upon the policyholder's death, usually the insurer pays the face value of the death benefits for whole life insurance policies.

If your income increases, you may need to review the face value (the amount paid to beneficiaries at the policyholder's death) of your life insurance policy.

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.

At the core of combined coverage plans is the life insurance policy, with a designated face amount that will provide the policyholder's beneficiary with an income tax free death benefit.

Then, the addition of a qualified long - term care rider will allow the life insurance contract to be accessed for living benefits by paying down the face amount of the death benefit when the policyholder qualifies for long - term care benefits.

Convertible Term Insurance allows the policyholder to change the face value of the term policy in force into a permanent form of Life Insurance, such as Whole Life, Universal Life or Variable Life, without any penalties or evidence of insurability.

With these term life insurance plans, a policyholder can obtain coverage with death benefits as low as $ 25,000 and a maximum face amount of $ 999,999 — and there is also the option to obtain a policy without the need for a medical exam for policies of up to $ 249,999.

on life insurance policies release a sizable chunk of the policy's death benefit to the policyholder while he / she is still alive, allowing the usage of the death benefit funds on valid diagnosis of one of the critical or terminal illnesses stated in the policy.These riders» critical / terminal illness payout is tax - exempt, and beneficiaries also receive the left over face value, untaxed, upon the policyholder's passing.

and are increasing in popularity because if these riders go unused, there is no loss of premium - the premiums are returned if the policyholder passes away before a specific age, and the beneficiaries are still entitled to receive the life insurance policy's face value in the event of the policyholder's death.

Another benefit of a whole life insurance policy is that your premium never changes once the policy is written, unless the death benefit amount (face value) is increased by you, the policyholder.

An insurance policy provision that pays for extra living expenses a policyholder faces while a home is undergoing reconstruction following a fire, storm or other covered peril.

Add to cash value option is a feature in a universal life insurance where the policyholder turns over the cash value to the face value of his or her policy.

As many Universal Life policyholders faced the potential of lapsed policies, the insurance companies knew they needed to create a policy that had more guarantees built in.