Sentences with phrase «payments on a whole life insurance policy»

Per regulation, when you make premium payments on Whole Life Insurance Policies, a percentage of the premium has to go toward the cash value of the policy.

For example, if you start making your premium payments on a whole life insurance policy, the insurance company will eventually close out the policy and you will no longer receive a death benefit from it.

When you make premium payments on a whole life insurance policy, part of that payment goes towards paying your death benefit, and another part is saved.

Not exact matches

Initially, the premiums paid on cash value insurance, such as whole life insurance rates, are higher than those associated with term insurance, given that term insurance payments are used just to pay for current insurance coverage and not to build up cash value in the policy.

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A proposed client buys either an A + + or A + Whole Life Insurance policy and makes all of their required yearly payments on time for decades.

As long as you continue to make your required premium payments on time, a permanent life insurance policy will remain in effect your whole life and won't expire.

It has the features of both a term and whole life insurance which allows policy holders to choose varying payment methods and coverage every year while adjusting its interest on a monthly basis.

Whole life insurance is exactly that, life insurance that is in effect until the end of your life, or until you cancel it, default on payment or have your policy canceled for another reason.

Because the life insurance policies are not counted as part of a person's estate, allocating a portion of your wealth to a whole life insurance plan can be an effective way to reduce your estate's size by reducing available cash on hand while increasing your heirs» inheritance through legally avoided estate taxes, probate fees, and the payment of a large death benefit.

Whole life insurance lasts for your entire life as long as you continue to make payments on the policy.

A universal life contract provides access to cash value accumulation like that of a whole life policy; however, cash value within a universal life policy includes a guaranteed minimum interest rate plus an additional interest payment if and when the life insurance carrier experiences higher returns on its own investments.

There are several different premium payment options that a whole life insurance policy holder can choose from — based on what suits their needs the best.

Loans or withdrawals can be taken against the cash value of a whole life insurance policy to help with expenses, such as college tuition or the down payment on a home.

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.

Whole life insurance is guaranteed to provide coverage for the policy owner for their entire lifetime, as long as they make the required payments on time.

Two common twists on a whole life policy are «limited payment» whole life insurance and «interest sensitive» whole life insurance.

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 →

In point of fact, a common reason to have a sizable and problematic life insurance loan in the first place is when a policyowner stops making premium payments on a whole life policy — because a whole life policy must receive annual premium payments (unless it is fully paid up), and failing to pay premiums will usually trigger an Automatic Premium Loan (APL) provision where the insurance company provides a loan to the policyowner and immediately uses it to pay the premium.

You buy a permanent life insurance policy (a whole or universal life insurance policy) and, after several years of paying on time, you miss several payments for whatever reason.

However, when it comes to whole life insurance quotes, the premium payment you pay for your coverage can vary depending on how your policy is designed.

Known as «AssetGuard», the final expense whole life insurance policy from NGL is available with several payment options depending on whether you want to pay everything up over single premium, three, five, seven, or ten years.

Permanent life: These policies, including universal life and whole life insurance, last for as long as you continue to make payments on your premiums.