Sentences with phrase «money against the cash value of their policy»

Most Universal Life policies come with an option that allows the policyholder to take out a loan / borrow money against the cash value of their policy.

One option is to borrow money against the cash value of your policy.

You can borrow money against the cash value of your policy in case of urgent need.

Not exact matches

A policy's cash value is essentially the amount of money you would receive if you surrendered the policy to the insurer, and this amount can be borrowed against or used to pay premiums.

You can also terminate the policy (or «surrender» it) if you want to, and get part of the accumulated funds, or you can sometimes borrow money against your policy's cash value.

Whole life policies offer living benefits, including tax - free dividends that may accrue (referred to as the policy's cash value); you may even be able to borrow money against the value of a whole life policy if there comes a time that you decide you need to do so.

The main purpose of the legal reserve is to provide lifetime protection, but because more money is collected in premiums in the early years of a policy than is needed to cover the mortality charge, level - premium policies develop a cash value, which the policyholder can borrow against, or can surrender the policy for its cash value if the policyholder no longer wishes to continue the life insurance policy.

The cash value of your permanent life insurance policy is the amount of money that is saved within the policy that you can borrow against.

The cash value of the life insurance policy represents money that is built up against the death benefit to reduce the «net amount at risk» for the insurance company.

Additionally, you can borrow money against the cash value of your whole life insurance policy instead of taking out a loan elsewhere.

The flexibility inherent in the policy of this type also manifests itself in the provision according to which you can withdraw your cash value or borrow money against the policy's cash value during your lifetime.

A policy's cash value is essentially the amount of money you would receive if you surrendered the policy to the insurer, and this amount can be borrowed against or used to pay premiums.

After several years, a whole life policy has cash value and you, as the policy owner, can borrow money against the policy or ask for part of the benefit to be paid even though the insured person is still living.

If you borrow against the cash value of your life insurance policy through a loan, then you will not have to pay income tax on the money.

The policy's cash value is the amount of money you would receive if you surrendered the policy and it can be borrowed against or withdrawn.

Over time, after money has accumulated, you can withdraw or borrow against the cash value of the policy for emergencies (the available amount will vary by company) 1.

Withdraw Money or Borrow Against It When you pay your premium, a portion of each payment goes toward the death benefit, but a portion also goes to building up the policy's savings component (also known as the «cash value»).

The cash value is essentially the amount of money you would receive if you decided to give up the policy to the insurer, but it can also be borrowed against by the child once it's large enough.

With whole life insurance, you can borrow against the amount you have paid in, called cash value, and some type of policies will even allow you play an active part in how the money you pay in is invested, which has the potential earn money for you while you are alive.

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.

You can also terminate the policy («surrender») if you want, and get part of the accumulated funds, or you can sometimes borrow money against your policy's cash value.

Most plans or policies give you the option of either withdrawing your money with no repayment or borrowing against the cash value.