Sentences with phrase «of whole life policy»

So for example, if you have a $ 300,000 life insurance policy, and you've been paying the expensive premiums of a whole life policy (which can be at least 5 times as expensive each month compared to a term policy) for years and years to accrue cash value, but then you die, your heirs only receive the $ 300,000 and the insurance company keeps the cash value you've built up.

Premiums are quite high in the first few years of a whole life policy as compared to term life policy.

Depending on the type of Whole Life policy taken out it may contain an investment element that builds a cash value within the policy that can be accessed when required.

You generally have no choice about altering any aspect of a whole life policy.

The permanence of a whole life policy can be both an advantage and a disadvantage depending on your situation.

This way, you can benefit from the cheaper rates while young before seeing the many advantages of a whole life policy later.

In other words, are the tax advantages of a whole life policy better than investing in a non-tax-advantaged manner?

Can Borrow Against the Cash Value of a Whole Life Policy Another convenient feature of a whole life policy is that you can borrow against the cash value accumulation feature.

Tell them you want them to provide illustrations of the whole life policy along with illustrations of a universal life policy with a no lapse guarantee.

And the last bit of news, while not surprising given John Hancock's earlier abandonment of their whole life policy was offered by Chris Hooper, «By the way, did you notice that John Hancock is positioning their Protection product, that only guarantees to «assumed mortality», against permanent UL products?

If you want a payout for the rest of your life — which you can borrow against later for something like Wildcat or Cardinal tickets — then you should go with the slightly higher premium and lifetime benefit of a whole life policy.

The surrender (voluntary termination) of a life insurance policy involves the payment by the insurer, prior to the death of the insured, of the accumulated cash value of a whole life policy.

However there is no deviation from the basic principle of whole life policy wherein no amount is paid on maturity, only when any eventuality arises during the policy period, the entire sum assured amount is payable by the Insurance Company to the nominee of the deceased person.

Generally, the cash value of a whole life policy is considered exempt.

The structure of a whole life policy is such that a portion of the premium is allocated to the actuarially determined cost of «protection», and the rest is allocated to an account that develops cash value.

The cash value is the «savings element» of a whole life policy.

Depending on the terms of the whole life policy, a policyholder can borrow against the cash surrender value of the policy.

And in instances where you do need permanent coverage, look into buying a no - lapse guarantee universal life policy instead of a whole life policy.

A final expense life insurance policy is a type of whole life policy that is designed to pay for final expenses.

All the benefits of a whole life policy with the additional benefit of potentially growing your death benefit over your lifetime making it a great choice for building a legacy.

The benefits of a whole life policy run forever — until you retire on the Gulf Coast and beyond.

Let us say you get to year 5 and you are still alive a cash value is included as part of your whole life policy.

I speak here of the whole life policy or the universal life policy.

The insurance company is bound to pay the full benefit of the whole life policy regardless of how soon you die after you purchase the policy.

The benefit of a whole life policy is that is acts as an investment.

The cash values of a whole life policy can grow to a considerable sum over the years.

This policy didn't offer the guarantees of the whole life policy, but it did offer flexibility and potential growth comparable with the money market accounts that were so enticing to consumers.

You can buy a whole life policy in it's traditional form or you can buy modified versions of the whole life policy.

Once the cash value account of a whole life policy has enough in it, you have the option to use it for premium payments on your policy.

The only time you thought of your whole life policy since is when you heard the constant buzz that term life insurance was better.

But if Han had been the owner of a whole life policy, his death would have been covered.

The cash value of a whole life policy, at that time, is like a savings account that you forgot you had.

If properly set up the death benefit of your whole life policy is paid to your loved ones free of income taxes.

There are also modified versions especially of the whole life policy.

The benefit is the non-participating policy offers the guarantees of a whole life policy, but without the additional benefit of a return of premium in the form of an annual whole life insurance dividend.

The way to understand this is that the cash value of the whole life policy is like the equity in your house and the death benefit of the policy IS the house.

The best feature of the whole life policy is the investment and savings option.

Another common type of whole life policy is referred to as a cash value policy.

Rates of return will depend on the type of whole life policy issued.

Why not buy term insurance and invest in some sort of money market account that was paying double the dividend rate of the whole life policy?

In a way you can get all the benefits of a whole life policy with a lower outlay of premium.

A type of whole life policy in which the death benefit and the cash value relate to the investment performance of a separate account fund that the policyholder selects.

Graded Premium Policy: A type of whole life policy designed for people who want more life coverage than they can currently afford.

The features of a whole life policy are the:

Life insurance from State Farm Life Insurance Company (Not licensed in MA, NY or WI) or State Farm Life and Accident Assurance Company (Licensed in NY and WI) can be the foundation of a family's financial protection, and one kind of whole life policy is Final Expense insurance.

There are other features of a whole life policy that differ as well, such as a whole life policy builds cash value over time.

The historic returns of the stock market have not been shown to outpace the steady 4 % guaranteed return of a whole life policy, further benefited from potential dividend payments ranging from 2 - 3.5 % and up depending on the interest rate environment.

Since a senior life insurance policy is a form of whole life insurance, you'll get many of the same benefits of a whole life policy: the policy lasts your entire life and builds cash value tax - free, you can borrow against that cash value for any reason and the death benefit is paid out tax - free to your beneficiaries.

This is an excellent incentive because there are a lot of applicants that originally want a term insurance policy because of the cheaper premiums, but eventually, decide they want to make the switch to a more permanent protection like that of a whole life policy.

Life insurance rates are being constantly lowered... even those of the whole life policy.