Sentences with phrase «loans against the policy accrue»

Loans against the policy accrue interest and decrease the death benefit and cash value by the amount of the outstanding loan and interest.

Not exact matches

Keep in mind that loans against the policy will accrue interest and decrease both death benefit and cash value by the amount of the outstanding loan and interest.

You policy loan and any accrued but unpaid interest go against the death benefit.

Of course, loans go against the policy value, and interest accrues until it is paid back.

Keep in mind that loans against the policy will accrue interest and decrease both death benefit and cash value by the amount of the outstanding loan and interest.

With a loan, interest accumulates against the policy and its cash, and it must be repaid or the interest will continue to accrue.

Of course, taking money against the policy will reduce the death benefit but this isn't a problem if your needs have adjusted, your policy accrues interest greater than your loan, or you have the ability to repay the loan.

Some policies will even allow you to take out a low - interest loan against your accrued value.

Your funeral expense life insurance policy can accrue cash value over time and can be leveraged against a loan by the policyholder.

Unpaid policy loans and accrued interest count against your total death benefit or surrender value at the time of claim or termination of the policy.

Beside this, you can also take a loan against the funds accrued in your policy's savings account, although it's important to bear in mind that it should be utilized for emergencies only.

Additionally, if the policy has an accrued cash value, any outstanding loans against the policy will be deducted before you receive the cash value.