Sentences with phrase «original death benefit of your policy»

However, the basic explanation of an AD&D rider is that if you die as a result of an accident, the life insurance company will double the original death benefit of your policy.

However, the basic explanation of an AD&D rider is that if you die as a result of an accident, the life insurance company will double the original death benefit of your policy.

Not exact matches

For example, you may be able to choose a new term policy at the end of the original term, that will both lower the death benefit and shorten the term.

Accidental Death Benefit Rider — Should you die accidently, this rider will provide you with an «additional death benefit» on top of the amount of death benefits you have selected for your original poDeath Benefit Rider — Should you die accidently, this rider will provide you with an «additional death benefit» on top of the amount of death benefits you have selected for your original Benefit Rider — Should you die accidently, this rider will provide you with an «additional death benefit» on top of the amount of death benefits you have selected for your original podeath benefit» on top of the amount of death benefits you have selected for your original benefit» on top of the amount of death benefits you have selected for your original podeath benefits you have selected for your original policy.

Paid - Up Additions Amounts of life insurance purchased either by policy dividends or by additional premium, and added to the original life insurance policy to increase the death benefit and cash values.

Assuming the policy minimums are met, the owner would have the option to keep the remaining death benefit from the original policy after all or some of it was converted to the other plan, or cancel the remaining death benefit.

The owner would have the option to keep the remaining death benefit from the original policy after some of it was converted to the other plan, or cancel the remaining death benefit.

Since most AD&D payments usually mirror the face value of the original life insurance policy, the beneficiary receives a benefit twice the amount of the life insurance policy's face value upon the accidental death of the insured.

Like your mortgage balance, the death benefit decreases over the life of the policy, but it will never fall below 20 % of the original value, while premiums remain level.

This is usually the original amount of death benefit that is purchased at the time of policy application.

Ironically, the biggest caveat of engaging in a life settlement is the reality that any life settlement policy worth selling to an investor is worth even more in the long run for the policyowner to just keep themselves, where the internal rate of return will be even more appealing (since the investor has both transaction costs to acquire the policy, and does not enjoy the death benefit tax free as the original policyowner would).

Notably, though, even though the net death benefit is only $ 600,000, Andrew's life insurance policy still has cost - of - insurance charges calculated based on the original death benefit, not just the reduced death benefit amount.

What's more, you can convert your entire policy or just a portion of the original death benefit.

So the good news here, in the context of your original question, is that dying with a life insurance policy with a loan does not create an income tax issue, because the loan is implicitly repaid from the tax - free death benefit of the insurance policy itself.

The accelerated death benefit may be part of the original policy contract or an optional rider — it depends on your life insurance company.

This is the amount of money you will receive in addition to the original death benefit you purchased, which is listed as «base amount» or «guaranteed death benefit» on the policy illustration and current policy statement.

Normally, the additional benefit paid out upon death due to accident is equivalent to the face amount of the original policy, which doubles the benefit.

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Be advised your new policy can be at the original death benefit of your term policy, or a lower amount.

One of the most valuable features of a term policy is the ability to «convert» it to permanent life insurance (usually a guaranteed universal life (GUL) policy), for the original or reduced death benefit, with no proof of health.