Sentences with phrase «overall death benefit»

A whole policy provides more flexibility in that you usually have more freedom to change the overall death benefit, and this type of life insurance policy can accumulate a cash value.

If you were to die, your family won't get the full death benefit because the premiums taken from the cash value will be deducted from the overall death benefit.

You use the whole life insurance policy dividends paid by the carrier to purchase extra paid up coverage, which contributes to your overall death benefit, while simultaneously increasing the cash value of your policy.

It is always important to remember that you could end up paying more in premiums for these types of policies than what the overall death benefit can be.

An Accidental Death and Dismemberment Rider (AD&D) is an optional additional coverage you can purchase that will increase the overall death benefit in the event that death or loss of limb occurs as a result to an accident.

An accelerated death benefit rider is a additional coverage option that will pay out part of the overall death benefit in the event that the insured is diagnosed to be terminally ill.

A whole policy provides more flexibility in that you usually have more freedom to change the overall death benefit, and this type of life insurance policy can accumulate a cash value.

The living benefit acts as a type of «lien» against the life insurance policy, thereby reducing the overall death benefit that is eventually paid out to your beneficiaries upon death.

With a whole life policy you have more flexibility to change the overall death benefit.

It contains what are called «Living Benefits» which will pay out a portion, if not all, of the overall death benefit in the event of a «qualifying» catastrophic injury — the dismemberment portion of the accidental death policy, which covers loss of limb and paralysis.