Sentences with phrase «purchase additional death benefits»

In this case, the policyholder may elect to have the dividends purchase additional death benefits, which will increase the death benefit at the time of death.

You can also elect to purchase additional death benefit.

In addition, the child / insured also has the option to continue the policy as an adult, and they can even purchase additional death benefit coverage, regardless of their health condition at that time.

Not exact matches

The death benefit of a whole life insurance policy stays the same for the life of the policy, unless you purchase additional coverage, and often ranges from $ 50,000 to several million dollars (similar to level term).

Additional Insured Rider Provides death benefit coverage on the lives of up to three family members without having to purchase separate policies.

However, the death benefit and cash value can continue to grow with participating policies since the dividend can be applied to purchase additional paid - up life insurance coverage.

Additional Insured Rider Provides death benefit coverage on the lives of up to three family members without having to purchase separate policies.

The death benefit of a whole life insurance policy stays the same for the life of the policy, unless you purchase additional coverage, and often ranges from $ 50,000 to several million dollars (similar to level term).

Dividends can be used to purchase additional paid - up insurance, further increasing the death benefit and cash value growth of the policy.

For maximum whole life insurance cash value growth, choosing the paid - up additions option, which purchases additional paid - up insurance, will further enhance your policy's cash value and grow your death benefit.

Flex Pay PUA Rider — Paid - up additions riders allow you to pay additional premium into your policy to purchase additional participating whole life insurance, which increases your death benefit and cash value.

Value Enhancement Rider: The VER is a whole life insurance rider that allows you to add additional single or periodic premium payments to your policy to purchase paid up additions, increasing your death benefit and cash value.

The Additional Life Insurance Rider (ALIR) allows the owner of the policy to make increased premium payments in order to purchase additional participating paid up life insurance, increasing the policy's death benefit and cash valAdditional Life Insurance Rider (ALIR) allows the owner of the policy to make increased premium payments in order to purchase additional participating paid up life insurance, increasing the policy's death benefit and cash valadditional participating paid up life insurance, increasing the policy's death benefit and cash value growth.

You can include a paid - up additions rider in your policy, which allows you to make purchases of paid - up additional insurance with no proof of insurability, increasing the cash value and death benefit proportionately.

Alternatively, using dividends to purchase additional paid - up life insurance allows you to grow your cash value and death benefit in a tax favored environment under IRC 7702.

For purposes of our SBA loan topic when considering permanent life insurance, it is most important to understand that (in addition to term life) the required death benefit to satisfy SBA can be purchased in a number of ways that offer additional lifetime and strategic benefits.

In addition, riders can be added to each policy that allow you to adjust the death benefit, either so that it increases over time, it decreases over time, or you're able to purchase additional coverage later without medical questions.

There are also additional optional benefits and riders, which include a waiver of premium, children's insurance, accidental death benefit, and / or a guaranteed option to purchase additional insurance.

Additional Paid Up Insurance (API) Rider: allows you to add additional premium payments to your policy to purchase «paid - up» life insurance, increasing your death benefit and cAdditional Paid Up Insurance (API) Rider: allows you to add additional premium payments to your policy to purchase «paid - up» life insurance, increasing your death benefit and cadditional premium payments to your policy to purchase «paid - up» life insurance, increasing your death benefit and cash value.

Should you die while the policy is in force, your beneficiaries will receive not only your the initial face value as a death benefit, but also it's common for dividends to buy additional insurance by way of what are called «paid up additions», so the death benefit could actually be higher than the face value at the purchase of the policy.

Whole life policies (WL) can be a little more complex since the policies are designed to increase the death benefit using dividends to purchase additional coverage.

Paid - Up Additions Amounts of life insurance purchased either by policy dividends or by additional premium, and added to the original life insurance policy to increase the death benefit and cash values.

The death benefit increases because small amounts of additional insurance are being purchased each year.

You may purchase Additional PIP coverage, to raise the overall limit of No - Fault benefits available in case of an accident up to $ 100,000 or higher and, in the process, increase the potential maximum amounts of lost earnings payments, other necessary expenses or the death benefit, depending on the limit you select.

Note that this is not necessarily the same as the actual death benefit payable Please refer to your policy's terms and conditions for additional information on the factors that may increase or decrease the actual death benefit payable, which may include loans taken or additional coverage purchased.

This cash can be used to purchase additional life insurance (paid - up additions) that increases both the total death benefit and cash value of your life insurance policy.

Trish could use those dividends to purchase additional insurance to enhance her total death benefit.

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.

However, the policy does not provide any returns beyond the death benefit (the amount of insurance purchased); the policy has no additional cash value, unlike permanent life insurance policies, which have a savings component, increasing the value of the policy and its eventual payout.

Paid Up Additions (PUA) DEFINITION: paid up additional life insurance purchased with additional premiums or dividends, over and above required premiums, that will immediately contribute to your death benefit as well as the cash value of the policy, dollar for dollar, minus any applicable fee.

There are also additional optional benefits and riders, which include a waiver of premium, children's insurance, accidental death benefit, and / or a guaranteed option to purchase additional insurance.

You can even repay any policy loans you made or purchase additional coverage which will increase your death benefit.

The huge advantage of 10 Pay Whole Life is that you no longer have to make premium payments but your cash value and death benefit can continue to grow if you elect to use your dividends to purchase more paid up additional life insurance.

Some policies also offer an extension - of - benefits - rider that usually doubles the amount of accelerated coverage at an additional cost, but without the purchase of additional death benefit.

Guaranteed Insurability Rider DEFINITION: an optional rider attached to permanent life insurance policies that allows the owner to elect to purchase additional life insurance death benefit coverage periodically at certain attained ages, or alternatively, upon certain special occasions such as marriage and the birth of a child.

In addition, riders can be added to each policy that allow you to adjust the death benefit, either so that it increases over time, it decreases over time, or you're able to purchase additional coverage later without medical questions.

This option makes the most sense after premium payments are no longer due for a life insurance policy and there is no need to increase the death benefit through the purchase of additional paid up coverage.

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.

For maximum whole life insurance cash value growth, choosing the paid - up additions option, which purchases additional paid - up insurance, will further enhance your policy's cash value and grow your death benefit.

Various riders like additional risk coverage, accidental death benefit & waiver of premium can be purchased with the basic policy to get comprehensive risk cover.

The whole life policy pays dividends every year, and by purchasing additional paid up insurance, the dividend payment compounds in value and the death benefit rises more and more.

The Additional Life Insurance Rider (ALIR) allows the owner of the policy to make increased premium payments in order to purchase additional participating paid up life insurance, increasing the policy's death benefit and cash valAdditional Life Insurance Rider (ALIR) allows the owner of the policy to make increased premium payments in order to purchase additional participating paid up life insurance, increasing the policy's death benefit and cash valadditional participating paid up life insurance, increasing the policy's death benefit and cash value growth.

Additional Paid Up Insurance (API) Rider: allows you to add additional premium payments to your policy to purchase «paid - up» life insurance, increasing your death benefit and cAdditional Paid Up Insurance (API) Rider: allows you to add additional premium payments to your policy to purchase «paid - up» life insurance, increasing your death benefit and cadditional premium payments to your policy to purchase «paid - up» life insurance, increasing your death benefit and cash value.

The death benefit of a whole life insurance policy stays the same for the life of the policy, unless you purchase additional coverage, and often ranges from $ 50,000 to several million dollars (similar to level term).

Over time, the guaranteed cash value, and dividends (when payable) can be used for the trust's immediate use, or the dividends could purchase paid - up additional insurance to increase the total death benefit payable to the trust.

Paid Up Additions: allows you to add additional premium payments to your policy to purchase «paid - up» life insurance, increasing your death benefit and cash value.

Alternatively, using dividends to purchase additional paid - up life insurance allows you to grow your cash value and death benefit in a tax favored environment under IRC 7702.

Value Enhancement Rider: The VER is a whole life insurance rider that allows you to add additional single or periodic premium payments to your policy to purchase paid up additions, increasing your death benefit and cash value.

Using dividends to purchase additional paid up whole life insurance is a way to systematically increase both cash value and death benefit in the same way as paid up additions would do so without violating the MEC rules for life insurance contracts.

You can include a paid - up additions rider in your policy, which allows you to make purchases of paid - up additional insurance with no proof of insurability, increasing the cash value and death benefit proportionately.