Sentences with phrase «outstanding loans against your policy»

The amount of your benefit will also be reduced by any outstanding loans against your policy.

These annual dividends may be reduced if there is an outstanding loan against your policy.

If it was a whole life or other permanent policy, any outstanding loans against the policy's cash value would be subtracted as well, Graham says.

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

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.

Non-direct recognition refers to a whole life insurance company that does NOT alter its dividend rates based upon outstanding loans taken by the policy owner against the policy cash value.

It is possible to take out a loan against a policy's cash value, however, if the loan remains outstanding this will decrease the death benefit.

Assuming you can prove continued insurability, pay off the overdue premiums plus interest, and cover any outstanding loans against the cash value, some life insurance companies will let you reinstate a policy within a certain time period.

As with whole life insurance, you may be able to take loans against the cash value of a universal life policy, however the death benefit and cash value will be reduced by the amount of any outstanding loans and interest upon your death.

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

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.

Any cash value that may accumulate in your policy can be withdrawn or borrowed against and used for any purpose (important note: any outstanding loans or partial withdrawals that aren't paid back will reduce your policy's death benefit)

How much cash value a whole life insurance policy can build depends on such factors as your age, how long you've owned the policy, the policy's coverage amount (death benefit), and whether there's any outstanding debt from loans against the policy.

Any outstanding loans against the cash value at the time of the policy holder's death are deducted from the face value of the policy.

Moreover, the amount is subject to any outstanding loans on the policy, such as an unpaid premium or a policy loan taken earlier against the policy.

Some permanent life insurance policies allow for loans against the insurance policy - in the case of any outstanding loans, the death benefit is paid to beneficiaries less any outstanding loan balance.

Higher of Guaranteed surrender value or Special surrender value will be paid to you as Cash Surrender Value, after deduction of any outstanding amount on the policy (Policy Loan or any amount payable against your policy) and TDS * (if applicpolicy (Policy Loan or any amount payable against your policy) and TDS * (if applicPolicy Loan or any amount payable against your policy) and TDS * (if applicpolicy) and TDS * (if applicable).

Policyholders who have borrowed against their policies may receive reduced annual dividends while the loan is outstanding.