Sentences with phrase «policy death benefit amount»

Formula's that may be used to establish a key person's value to the business for purposes of choosing the key man policy death benefit amount include:

A graded death benefit life insurance policy will pay out only a certain percentage of the stated policy death benefit amount if the insured dies within the first 1 to 3 years after initially purchasing the policy.

The property settlement agreement should specify the policy death benefit amount, the type of life insurance policy, what the policy is intended to secure, and who make the premium payments.

Not exact matches

Do ask yourself: If today I gave you a check in the amount of the death benefit of the life insurance policy you're considering, would you quit your job and work free for me until you die?

In a life insurance cash settlement, a company will purchase your life insurance policy for a greater amount than the policy's cash value but less money than the death benefit.

In the event that you die with policy loans outstanding, your insurance company will deduct the unpaid amount plus any accumulated interest from your death benefit.

This is known as a partial surrender, which reduces the cash surrender value of the policy and the death benefit amounts.

You can customize a policy by its death benefit amount, term length, and with riders.

Please note that the policy's death benefit and cash value will be reduced by the amount of any loans or withdrawals you take.

The taxable amount would be the the death benefit minus the value of whatever was paid to you, as well as any amount paid in premiums since they acquired the policy.

When you comparison shop, the death benefit amount that your loved ones would receive and the cost of the policy are the most important factors to consider.

The amount of death benefit you choose is also very flexible; you can buy anything from a $ 5,000 policy to a $ 1,000,000 policy or more.

You simply want to know what different policy types, features, and death benefit amounts might cost.

Take your time to compare how different death benefit amounts, policy features, and riders may influence your monthly premium rate.

Make comparisons of premium costs for many different policy variations such as the death benefits amount, and optional riders.

The amount at risk to the carrier is always equal to the policy death benefit.

The amount you receive will be greater than the policy's cash value and less than its death benefit.

Use of the accelerated death benefit with permanent policies may increase countable assets if the amount advanced exceeds the cash surrender value.

The policy document has all of the pertinent information about the life insurance policy: the term, the death benefit amount, policyholder details, and so on.

This amount is in addition to the Death Benefit under the Base Policy.

In a life insurance cash settlement, a company will purchase your life insurance policy for a greater amount than the policy's cash value but less money than the death benefit.

In case of occurrence of any of listed Critical illness, the Benefit (as chosen during inception) will be payable to you as a lump sum amount, irrespective of the death benefit payout option chosen, subject to policy being in force and all due premiums have beeBenefit (as chosen during inception) will be payable to you as a lump sum amount, irrespective of the death benefit payout option chosen, subject to policy being in force and all due premiums have beebenefit payout option chosen, subject to policy being in force and all due premiums have been paid.

Guaranteed issue life insurance policies have significantly lower death benefit amounts compared to term or permanent policies.

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.

Extended Death Benefit Guarantee — 50 % of your policy's face amount is guaranteed as long as your policy is in force

The death benefit of VUL policies may rise or fall, but it will not decline below the specified guaranteed amount.

Similarly, a policy's death benefit can be customized (the amount can range from $ 50,000 to over $ 1 million) and should reflect your family's financial needs if you passed.

This amount is typically the death benefit amount that was purchased at the policy's origination.

So, if your financial situation changes over time and you want a greater amount of coverage, you would be able to increase your policy's death benefit without demonstrating your insurability.

The insurance company is not actually paying anything extra since most policies are structured to pay the death benefit early at a specified amount.

The taxable amount would be the the death benefit minus the value of whatever was paid to you, as well as any amount paid in premiums since they acquired the policy.

On most IUL policies, the death benefit is equal to the original insured amount minus the cash value.

Because the death benefit amount of your cash value life insurance policy may change over time as its cash value grows, make sure to specify a percentage of the proceeds to go to your beneficiaries rather than selecting a dollar amount.

Benefits increase 5X in case of accidental death If you die as the result of an accident (as defined in your policy) before age 85, your beneficiary will be eligible to receive five times your coverage amount.

Depending upon the type and the amount of the policy, a beneficiary will typically have several choices regarding how the death benefit from the policy will be paid — all at once, or over time from an annuity.

With a properly structured policy, the death benefit face amount will increase as your child ages, providing your child with the ability to create a future legacy for your children's children's children.

You can access a maximum benefit amount which equals the lesser of 90 % of the total death benefit or the policy face amount less $ 25,000.

If you pass away after and have borrowed against the cash value of your policy, the amount borrowed will be deducted from the death benefit.

Like traditional life insurance, the death benefit of a second - to - die policy can ensure your beneficiaries receive a minimum amount of money, even if savings and other retirement income is spent during the lives of you and your spouse.

Changes in the Death Benefit Option may result in changes to the policy's Face Amount and may require evidence of insurability.

It gives you access to a portion (or full amount) of your policy's death benefit, if you are diagnosed with a terminal illness resulting in six months or less to live.

For example, if you have a pre-existing condition and want a $ 350,000 death benefit to cover your mortgage, you will only be able to get this amount of coverage through a term life insurance policy.

As with withdrawals, loans can reduce the amount of your policy's death benefit.

So, if you had a $ 500,000 death benefit and your insurer capped the amount you could accelerate at «the lesser of $ 250,000 or 75 % of the policy's face value», you could request up to $ 250,000 while still living.

This is the amount of a life insurance policy's death benefit at the time of issue.

When purchasing life insurance coverage, it is important to determine what type of policy — as well as how much in death benefit (face amount)-- will be right for you and your survivors.

Some life insurance may offer death benefit options, including: a specific benefit that does not vary; a face amount plus the policy value; or the face amount plus premiums paid less withdrawals and loans.

Many policies will set a minimum amount on the death benefits, but the investment portion of your premiums will not typically guarantee a minimum return.

Given their intent, survivor life insurance policies can have incredibly high death benefits and you won't be limited if you need a fair amount of coverage.

On top of the death benefit amount, this option allows any amount left in the policy fund to accumulate cash value and the total to be paid tax - free to the beneficiary.