Sentences with phrase «owner of a whole life policy»

As an owner of a whole life policy you will have a few options of what to do with the death benefit.

Most insurance companies send the owner of the whole life policy an annual statement.

But if Han had been the owner of a whole life policy, his death would have been covered.

Not exact matches

Cash value life insurance, whether whole life, IUL, or VUL, allows for the tax - free growth of funds in a policy's cash account unless the policy is canceled or surrendered, transferred or assigned to another owner, or the IRS no longer designates the policy a life insurance contract.

The policy is convertible term life insurance, which allows the owner of the policy to convert all or a portion of the coverage to whole life insurance coverage before the term policy expires or age 65.

The policy is convertible which allows the owner to convert the policy to whole life prior to the end of the term.

Whole life requires the policy owner to pay a fixed monthly premium for the rest of their life, and upon death, the company will payout the face value of the policy (death benefit) to the beneficiary.

Dividend paying whole life insurance is a permanent life insurance policy where the insurance provider offers a return of premium to the policy owner in the form of a dividend.

Whole life insurance policies are generally intended to remain in force until the policy «matures» (pays out), or until the owner of the policy cancels or stops paying the premiums that are due.

Whole life insurance defined: A whole life policy is a type of permanent life insurance where a contract is entered into between the policy owner and insurer, for a policy, which covers the life of the insured, for a specified insurance coverage amount, for the benefit of a beneficWhole life insurance defined: A whole life policy is a type of permanent life insurance where a contract is entered into between the policy owner and insurer, for a policy, which covers the life of the insured, for a specified insurance coverage amount, for the benefit of a beneficwhole life policy is a type of permanent life insurance where a contract is entered into between the policy owner and insurer, for a policy, which covers the life of the insured, for a specified insurance coverage amount, for the benefit of a beneficiary.

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.

Infinite banking is a concept or strategy where the policy owner utilizes the cash value of a participating whole life insurance policy from a mutual company as a means of self - financing.

And, although these returns may not have sounded like much several years ago, the cash value in whole life insurance policies allowed policy owners to weather the storm of the recent market downturn.

The traditional permanent or whole life insurance ensures the policy owner of minimum returns on the cash value.

Whole life insurance combines a level premium with guaranteed cash values which the policy owner may use to meet a variety of financial goals.3 Whole life insurance policies may also produce excess credits, which may be used to purchase additional paid - up life insurance, potentially increasing the available death benefit.

Whole life insurance typically requires that the owner pay premiums for the life of the policy.

Whole life insurance, a lifelong policy, where the owner of the policy continuously pays the premiums and, then, the insurance company in turn pays the death benefits.

When the dividends paid on a whole life policy are chosen by the policy owner to be reinvested back into the policy, the cash value can increase at a rather substantial rate depending on the performance of the company.

Whole life insurance policies provide life insurance coverage protection throughout the duration of the insured policy owner's lifetime.

For whole life or other cash value policies, the owner would also maintain complete control of the cash value, including having access to cash or loans.

Whole and universal life insurance policies are both known for having a cash value that the owner of the policy can borrow against.

Participating whole life policies (also called «par whole life») also issue a non-guaranteed dividend to policy owners, which is credited to their cash value, and is frequently used to purchase small amounts of fully - paid up life insurance.

With a participating whole life policy, after all the claims and expenses of the insurance company have been paid for a given policy year, the policy owner is entitled to «participate» in any surplus that remains.

Being a mutual insurer means that customers who buy certain products, such as whole life insurance policies, become part owners of the company and are entitled to a vote in board elections and share in any annual dividends.

Dear Cindylou, Yes, as the «owners» of the policies, you and only you have the right to borrow from the cash value — the reserve that builds up in permanent life insurance, such as whole life.

Since whole life insurance will be with you until that inevitable day it will cost you more than other common types of life insurance.Whole life allows the owner to borrow against the cash in the policy.

Purchasing a term life policy instead of a whole life insurance policy will save the owner a lot of money every year that would otherwise be spent on the whole life insurance premiums.

Cash value life insurance, whether whole life, IUL, or VUL, allows for the tax - free growth of funds in a policy's cash account unless the policy is canceled or surrendered, transferred or assigned to another owner, or the IRS no longer designates the policy a life insurance contract.

A whole life insurance policy will usually return somewhere around 3 % -5 % for the policy owner in the long run, well below the historical average annual stock market returns of a little over 12 %.

Whole life insurance does give the policy owner the option of using dividend payments to purchase additional paid up insurance, so hypothetically a whole life policy can have an increasing death benefit over time if this dividend option is chWhole life insurance does give the policy owner the option of using dividend payments to purchase additional paid up insurance, so hypothetically a whole life policy can have an increasing death benefit over time if this dividend option is chwhole life policy can have an increasing death benefit over time if this dividend option is chosen.

The policy is convertible which allows the owner to convert the policy to whole life prior to the end of the term.

Owners of whole life insurance have what is known as a «participating policy ``.

The cash value of whole life policy is not volatile, it accumulates cash value year after year after year, and only goes up in value as long as there are no withdrawals or loans taken by the owner.

Dividend payments are typically large enough that whole life owners actually can expect to have a positive rate of return on their life insurance during the life of the owner, meaning after a certain amount of time the cash value of the policy will be larger than the amount of money paid in.

Dividends will significantly increase the rate of cash value accumulation in a whole life insurance policy, or can be paid directly to policy owners as income.

This type of dividend paying coverage is also referred to as participating whole life insurance because the policy owner is participating in the insurance company's profits.

Premium payments in a whole life insurance policy are level (will never rise during the life of a policy), but an owner may have the option of paying additional premium into the policy in order to build cash value faster.

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.

Whole life insurance also accumulates a cash value, which can be accessed by the owner, during the life of the policy.

In addition to paying a death benefit, a whole life policy allows accumulation of cash value that the policy owner receives if the policy is surrendered.

A whole life insurance policy on the other hand not only is 100 % assured of providing a return to either the policy owner or the beneficiaries, but actually will pay for itself over time.

A dividend is a payment made by the life insurance company to owners of whole life insurance policies once a year on the policy... Continue reading →

This means that at the end of the guaranteed period, the owner of the contract has the option to convert the life insurance coverage to a permanent whole life policy.

While your premiums will be more expensive than a term life policy, some policy owners choose whole life for the peace of mind, knowing that their life insurance coverage will not end.

Whole life insurance defined: A whole life policy is a type of permanent life insurance where a contract is entered into between the policy owner and insurer, for a policy, which covers the life of the insured, for a specified insurance coverage amount, for the benefit of a beneficWhole life insurance defined: A whole life policy is a type of permanent life insurance where a contract is entered into between the policy owner and insurer, for a policy, which covers the life of the insured, for a specified insurance coverage amount, for the benefit of a beneficwhole life policy is a type of permanent life insurance where a contract is entered into between the policy owner and insurer, for a policy, which covers the life of the insured, for a specified insurance coverage amount, for the benefit of a beneficiary.

Every year when the life insurance company calculates it's profits it returns a portion of those profits as dividends to whole life insurance policy owners.

It works like other whole life insurance policies, except that instead of paying an annual or monthly premium, the owner only needs to pay once in a lump sum single premium payment.

Whole life policies actually give a positive rate of return to the owner during the life of the insured person.

It is even more flexible than a whole life insurance policy in some ways in that the death benefit, premium and savings element can be changed at any time to fit the desires and financial situation of the policy owner.

After several years, a whole life policy has cash value and you, as the policy owner, can borrow money against the policy or ask for part of the benefit to be paid even though the insured person is still living.