Sentences with phrase «policy loans owed»

It simply means that the policy will continue perform normally, including the payment of dividends at FULL rates, regardless of the amount policy loans owed.

It simply means that the policy will continue perform normally, including the payment of dividends at FULL rates, regardless of the amount policy loans owed.

Not exact matches

The result of a new car's quick depreciation is a policy limit or an actual cash value of a car that is less than what is owed to a loan or leasing company.

In short... the Toyota GAP insurance policy and the Huntington bank loan have different guidelines that CONTRADICT each other and therefore should never be «sold» together which has resulted in over $ 1800 still be owed to me.

The result of a new car's quick depreciation is a policy limit or an actual cash value of a car that is less than what is owed to a loan or leasing company.

So depending on how much the land is still worth versus how much you owe — and exactly what the terms of the loan are — you may need to use some or all of that money to repay enough of the loan to bring it back within the bank's policies.

At a minimum, they'll want your policy to cover or exceed the amount you owe on the loan.

However, as long as your policy is in force, loan interest will continue to build and be added to the loan balance, thereby increasing the amount you owe.

Gap Insurance: If you're involved in an accident, your collision policy will typically only cover the cost of your car up to its actual cash value, which may be less than what you owe on a loan or lease.

Owing to its slightly conservative underwriting policies it trails behind ICICI bank on market share for personal loans.

Gap Insurance: If you're involved in an accident, your collision policy will typically only cover the cost of your car up to its actual cash value, which may be less than what you owe on a loan or lease.

You have probably heard of auto gap insurance — a separate policy to cover the difference between what car insurance covers and what is still owed on the loan for a vehicle.

A GAP, or Guaranteed Asset Protection, car insurance policy covers the difference in the amount an insurance company will pay for a totaled vehicle and the amount of money that a consumer still owes on his / her car loan.

Loans and amounts owed: These are the most important expenses that your life insurance policies must cover.

However, as long as your policy is in force, loan interest will continue to build and be added to the loan balance, thereby increasing the amount you owe.

Any money which you owe on a policy loan would be deducted from the benefits if you were to die, or from the cash value if you were to stop paying premiums.

The policy death benefit can match the amount owed on the loan, and be reduced in the future as the loan balance is paid down.

As the amount money owed on a loan or mortgage decreases, the payout of the insurance policy also decreases.

The loan is accounted for within the policy itself, and the principal loan amount and corresponding interest reduce the death benefit by the amount owed.

A policy owner who takes a loan against the available cash value may choose to pay back the loan with interest, or to have the amount owed deducted from the death benefit at the time of payout, or to surrender the policy and have the amount owed deducted from the available cash value.

Therefore, it is important for a policy holder to understand that they may still owe on the loan even though the GAP policy was purchased.

Gap Insurance — If your insured vehicle is purchased via lease or a loan, this policy helps cover the difference in the leftover balance you owe and the cash value of the car.

The result of a new car's quick depreciation is a policy limit or an actual cash value of a car that is less than what is owed to a loan or leasing company.

Even with this type of car insurance, the insurance company may only pay a depreciated amount which means you will need an additional rider on the policy called GAP insurance to pay for the difference between cash value and the amount owed on the loan.

If your policy does lapse, you'll owe taxes on the amount of the cash value, including loans that exceed the premiums you paid in — a real problem if the money you borrowed is long gone.

The actual sum may be higher or lower depending on the options selected, outstanding policy loans or premium owed.

However, if you pass away while a loan is taken out against your policy, the remaining balance that you owe will be deducted from the death benefit your beneficiary receives.

For instance, if you take a loan from your universal life policy and happen to pass away before the amount is repaid, your death benefit will be reduced by the amount owed.

As the balance of your loan decreases, a collateral assignment will insure that your lender is paid exactly what they are owed, and the remaining balance of your life insurance policy will be paid out to your family

If your loan term ends before you die, you can pay off the loan and will still own your policy; or you can give up your life insurance policy and your loan balance is dismissed, you won't owe it back.

Fire & Liability Insurance — The mortgage lender will insist that you purchase an insurance policy which guarantees that, in the event of fire, the lender will receive the balance owing on the mortgage loan before you receive any insurance proceeds.