Sentences with phrase «payments over the life of the policy»

Both term and permanent policies allow you to select an amount of coverage in exchange for your premium payments over the life of the policy, providing a lump sum payment to your beneficiaries when you die.

The second option is to pay an insurance down payment, or a portion of the policy up front, then make monthly payments over the life of the policy.

With both whole life and term, you can lock in the same monthly payment over the life of the policy.

Not exact matches

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Another thing to consider is that a mortgage life insurance policy is often written as a decreasing term policy, so the death benefit decreases over time, (just as your mortgage payoff amount decreases as you pay your monthly mortgage payments), but the premium remains the same over the life of the policy.

A large portion of your premiums payments will be invested in the insurance company's investment fund in whatever asset class you prefer (stocks, bonds, mutual funds, money market funds, etc.) Over time, this has the chance to generate a much larger cash value in your insurance account than a traditional whole life policy does.

You can choose to make smaller premium payments throughout the life of the policy, larger payments over a shorter period (known as limited pay whole life), or lower premiums in the beginning and higher premiums afterward.

These premium payments are calculated on an average over the life of your policy, making the payments fixed and easy to budget around.

Such excess payments are usually caused by interest earned on premiums paid over the course of the policy's life.

Over time, as you make more premium payments, a whole life policy becomes comprised entirely of the cash value.

Even taking a loan from an annuity, unlike a loan from a cash value life insurance policy, is a taxable event because it considered either an early withdrawal of cash OR an additional withdrawal over the regular monthly payment.

Hybrid life insurance policies are usually funded with a one - time single premium, but some do allow for payments over a set number of years — say $ 10,000 for ten years.

The death benefit will not decrease over the life of the policy but will remain fixed as long as you continue to make premium payments.

A permanent or whole life policy will last for the rest of your life, payments never change, and the policy builds cash value over time that you may access tax - free.

In cases like these where the price of a 20 or 30 year term life insurance policy is compared to the price of whole life, it often makes sense to purchase a cash value life insurance for children, which the parent can one day give to their child to take over payments.

A Level Premium policy features premium payments that are designed to be level (or fixed) over the life of the policy.

According to LIFE, for a 20 to 30 % premium, your insurer will refund the payments you made over the life of the polLIFE, for a 20 to 30 % premium, your insurer will refund the payments you made over the life of the pollife of the policy.

Another thing to consider is that a mortgage life insurance policy is often written as a decreasing term policy, so the death benefit decreases over time, (just as your mortgage payoff amount decreases as you pay your monthly mortgage payments), but the premium remains the same over the life of the policy.

If you are injured or sick, the disability option clause of your whole life insurance policy could mandate that your insurance company take over the payments of your premium.

With whole life insurance, your premium payments remain the same over the life of the policy.

Whole life insurance is designed for the long - term, so before purchasing, be sure to think about your ability to make premium payments consistently over the life of the policy.

The cash value of a whole life insurance policy functions as a savings account, and a portion of premium payments grow tax - deferred over time.

However, the benefits of a life insurance policy are also available in Installments: smaller payments over time.

If you happen to outlive your term life insurance, what this rider will do is entitle you to all the payments you have made over the life of your policy.

With a single premium Whole Life Insurance policy, rather than paying premiums over time throughout the life of the policy, the policyholder will only make one single lump sum payment, and then the policy will be considered as paid -Life Insurance policy, rather than paying premiums over time throughout the life of the policy, the policyholder will only make one single lump sum payment, and then the policy will be considered as paid -life of the policy, the policyholder will only make one single lump sum payment, and then the policy will be considered as paid - up.

These whole life policies tend to pay the highest rates of dividends, and over time the dividend payment can actually grow large enough to pay the entire premium by itself.

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 chosen.

These two elements vary over the life of the insured, but the total scheduled premium payment remains the same for the life of the traditional whole life policy.

If premium payments are made well in excess of the cost of insurance early in a variable insurance policies life, the internal returns from the investments should grow the policy value significantly over time.

A universal policy allows the holder to adjust his or her premium payments and death benefit over the life of the policy.

You can choose to make smaller premium payments throughout the life of the policy, larger payments over a shorter period (known as limited pay whole life), or lower premiums in the beginning and higher premiums afterward.

Emphasizing payment of only the base premiums results in a whole life policy with a maximized death benefit and extremely slow accrual of the cash value over the life of the policy.

10 Pay or 20 Pay Whole Life insurance requires payments to the policy over a period of years, i.e. 10 or 20.

Level Premium — A type of Term Life insurance where the premium remains fixed over the length of the term Paid Up — A policy requiring no further premium payments due to prepayment or earnings.

Several policy riders are available: The Enrichment Rider (option to add more coverage and cash value over time as you need it); Accident Death Benefit (additional payment for a death as the result of an accident); Child Term Rider (coverage added for your children); Enhanced Care (cash value available for prolonged illness with access to up to 90 percent of the policy value); Flex Term Rider (a term life policy can be added that adds to the coverage for a period of time); and the Disability Waiver (premium is waived for a disability of six months or more).

The person or entity who purchases the policy takes over the premium payments for the remainder of the victor's life and usually receives a percentage of the policy's face value, around 50 - 70 %, in a cash payment.

However, unlike traditional life insurance where premiums may be paid over a lifetime, linked benefit policies require either a single lump sum premium payment or a series of up to 10 annual payments.

Auto insurance consumers who are financially incapable of paying the entire sum of their annual premium in advance of the coverage period are usually obligated to pay for the option of stretching out payments over the course of the life of the policy.

Furthermore, in order to get your immediate term cheap life insurance policy quotes over 50, simply sign up and provide the required details as your state of residence, sex, birth date, amount of safe, safe payment period.

Professional Experience Fortris Financial (Los Angeles, CA) 2008 — Present Portfolio Manager • Manage a universal life policy portfolio with 200 policies and over $ 800 million in face value, leading a three - person staff in the advisement of resource allocation to assets • Negotiate and effectively communicate loan re-payment and asset liquidation strategies to interested parties, including attorneys, institutional investors, brokers, agents and clients • Design and implement processes to sustain and grow AUM, while mitigating losses through effective crisis management • Document loan payments, policy values, medical records associated with policies under management • Resolve policy issues efficiently through effective communication with involved entities