Sentences with phrase «of your whole life policy because»

Are you wanting to get rid of your whole life policy because you want to buy a cheaper term life policy?

So the thing to consider for estate planning is whether the cost justifies the permanence and stability of whole life policy because it is arguably the most stable of the 5 types.

Not exact matches

Although whole life policies are not right for everyone because of their high cost, they do offer some benefits to those who choose to purchase them.

Our church's whole life insurance policy became a MEC and the pastor neglected to alert the board of the MEC status because he was informed by the agent that 501cs are tax exempt and do not pay taxes on a MEC.

Because of that it's much cheaper to purchase a sizable policy for a fraction of the whole life insurance price.

In the long term, many infinite banking practitioners suggest that whole life is far superior for cash value accumulation and usage because of the stability and predictability of the policy; and, we haven't talked about dividends yet.

You don't mind paying more money per month because you can see the value of a properly structured whole life policy

When designing a whole life policy the cost of loans vs ongoing dividend rates is a key focus because the goal is often to keep a desirable «arbitrage» on your loan rate and the asset you use your loan to purchase.

One more thing to note about cash values... the first few years of a Whole Life policy yields no return because of fees and the cost of insurance and you start to see some positive returns around year 8.

Both the question of taxes and the value of your dollar are important when considering either a Roth IRA or a whole life insurance policy because they are both funded with after tax dollars.

A life insurance policy is referred to as whole life because the insured is meant to have the policy for the entire span of their life.

However, whole life insurance premiums are more expensive than term life insurance because of the additional cash component and would need to be considered when deciding on purchasing a whole life insurance policy.

Some whole life policies pay dividends, and they are also not taxed because they are considered a return of the premium.

Because of this, and the fees involved with whole life insurance policies, the premiums can be as much as four times as expensive as term life insurance policies.

Jeremy Hallett, founder of online insurance marketplace Quotacy, said in an interview that premiums are typically 10 times higher for whole life policies than they are for term life policies with the same death benefit because permanent insurance provides coverage for life with guaranteed level premiums.

Insurance companies love whole life because it is not a commodity; they can come up with a large variety of variants, and that fact plus the fact that it combines insurance and investment means that is very difficult to compare policies.

Because of its long lasting nature, a whole life insurance policy holder will never find himself or herself without a life insurance plan — regardless of how long they need the coverage or any adverse health conditions that they may acquire over time.

Guaranteed universal life insurance is similar to whole life insurance because it is also considered a permanent policy, meaning it is supposed to last the entire life of the policy holder.

What's more, because we're a mutual company, ownership of one of our whole life policies entitles you to receive dividends when they're declared, which can provide tremendous additional growth potential.

Don't miss the fact that in the above examples, your money is working hard and has never stopped moving, i.e. the velocity of money... this is the essence of the conduit whole life insurance strategy because your cash value policy has served as a natural channel through which your money moves continually, growing perpetually to fund both your safe bucket and higher risk opportunities.

When designing a whole life policy for infinite banking, the cost of loans verses ongoing dividend rates is of course a key emphasis because the goal is often to keep a desirable «arbitrage ``.

However, many people choose to start whole life insurance programs at a very young age because cheap insurance is so plentiful and the policy owners can milk the cash value growth for a longer period of time.

It's also why we will typically recommend folks avoid applying for a simplified issue life insurance policy simply because these «types» of life insurance policies are often times more difficult to qualify for than a fully underwritten term or whole life insurance policy.

With that, even the simplified issue whole life policy is out of reach for most people because of their health.

The premiums are much lower and the credit requirements of the purchaser also less stringent because the customer is assuming a greater risk than with a whole life policy — that if they die it will be within the pre-specified term.

One of the reasons people don't choose whole life insurance is because of the perceived rigidity of the policy.

Whole life policies can be selected as part of your overall financial plan, but because you are not only paying for the life insurance premium in a whole life policy, but are also paying for a «savings» element, the cost will be Whole life policies can be selected as part of your overall financial plan, but because you are not only paying for the life insurance premium in a whole life policy, but are also paying for a «savings» element, the cost will be whole life policy, but are also paying for a «savings» element, the cost will be more.

On the other hand, because it takes time for the cash value of a whole life policy to grow, it may not be the best choice for every individual over 50 years of age.

In most cases, term life insurance is not subject to Federal income tax, state income tax, or estate / inheritance taxes, and because it lacks the whole cash value of a permanent policy is also generally not subject to capital gains tax.

However, Term Elite differs from Term Essential because it offers a conversion credit if you convert your policy to one of Prudential's whole life policies within the first 5 years.

Because the policy is in force for a limited amount of time, such as 15 or 30 years for a mortgage, the premium costs are lower than for whole life insurance policies for the same dollar amount of coverage.

Because this is whole life insurance, the benefit amount of the coverage can not be decreased — and the policy will also build up cash value.

This is because unlike whole life insurance, term life policy is designed to cover you for a specific period of time and also has lower premiums.

However, universal life is thought of as being more flexible than whole life because the policy holder has more control over when the premium due date is, as well as how much of the premium goes towards the death benefit, and how much goes towards the policy's cash value (within certain guidelines).

On the other hand, because it takes time for the cash value of a whole life policy to grow, it may not be the best choice for every individual

Because term life insurance only pays out if the policyholder's death occurs during the term of their coverage period, policy premiums are generally lower than whole life insurance.

That's why a term policy is better than whole, because it only covers the amount of time you actually need life insurance.

Because of these two factors, whole life insurance is roughly ten times more expensive than a term policy.

But compared with Term Insurance premiums, Whole Life premiums are relatively low because with Term Insurance your premiums grow as you get older and you have to pay substantial sums of money to renew your policy.

Compared to other universal life and whole life policies, «Guaranteed Universal Life» is easy to understand because of the guarantees associated withlife and whole life policies, «Guaranteed Universal Life» is easy to understand because of the guarantees associated withlife policies, «Guaranteed Universal Life» is easy to understand because of the guarantees associated withLife» is easy to understand because of the guarantees associated with it.

Because this is a whole life insurance policy, the amount of the premium that is due is also locked in, not to increase — even as the insured gets older, and / or whether or not they contract an adverse health condition.

It is generally viewed as a plus of Whole Life Insurance policies because?

Other life policies, such as whole life, universal life, or variable life, are more complex because of their structure and investment features.

A graded whole life is a type of policy designed for those who either can't get anything else because of health issues, or who simple don't want to take the time for health underwriting.

Because of this, and the fees involved with whole life insurance policies, the premiums can be as much as four times as expensive as term life insurance policies.

Because you're essentially using your premium to both pay for your insurance and fund the investment part of the policy, and because the policy lasts well into your golden years (when you're more expensive to insure), whole life insurance is a lot more expensive thaBecause you're essentially using your premium to both pay for your insurance and fund the investment part of the policy, and because the policy lasts well into your golden years (when you're more expensive to insure), whole life insurance is a lot more expensive thabecause the policy lasts well into your golden years (when you're more expensive to insure), whole life insurance is a lot more expensive than term.

Internal rates of return for participating policies may be much worse than universal life and interest - sensitive whole life (whose cash values are invested in the money market and bonds) because their cash values are invested in the life insurance company and its general account, which may be in real estate and the stock market.

A portion of your premium will be applied to the accumulation of cash value, and because of this, a whole life insurance policy generally is considered a financial asset.

Premiums for the new policy will be higher than the term policy rates since you would pay based on your current age at the time of converting your policy and because whole life costs more than term life.

Because of this risk, your premiums can be lower than those of a whole life policy.