Sentences with phrase «outstanding on a whole life policy»

Not exact matches

If you have an outstanding loan on your whole life insurance policy when you die, the death benefit that is paid out to your beneficiary (or beneficiaries) will be reduced by the unpaid amount of..

It's important to note if you take out a loan on your whole life insurance policy and die while the loan is out, the death benefit may be used to pay back the outstanding amount, meaning your beneficiaries won't get the full amount.

It's important to note if you take out a loan on your whole life insurance policy and die while the loan is out, the death benefit may be used to pay back the outstanding amount, meaning your beneficiaries won't get the full amount.

It's important to note that if you were to die unexpectedly, any outstanding loan balance remaining on your whole life policy may be deducted from your death benefit and will accrue interest.

If you have an outstanding loan on your whole life insurance policy when you die, the death benefit that is paid out to your beneficiary (or beneficiaries) will be reduced by the unpaid amount of..

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.