Sentences with phrase «purchases death benefits of life insurance policies»

A viatical settlement company or provider is a company or a person which purchases death benefits of life insurance policies from ill person less than the expected amount of death benefits.

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).

Had the individual purchased permanent life insurance, he or she could have access to a potentially significant source of supplemental retirement income in the future (depending on the policy type), while preserving the death benefit in perpetuity (note, however, that the death benefit and cash value of a policy is reduced in the event of a loan or partial surrender, and the chance of lapsing the policy increases).

A commonly shared rule of thumb for determining your life insurance needs is to purchase a policy with a death benefit equal to 5 to 10 times your annual income.

A commonly shared rule of thumb for determining your life insurance needs is to purchase a policy with a death benefit equal to 5 to 10 times your annual income.

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).

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.

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 value groLife 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 valuInsurance 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 value grolife insurance, increasing the policy's death benefit and cash valuinsurance, increasing the policy's death benefit and cash value growth.

When you purchase a Return of Premium (ROP) life insurance policy, if you die during the term, your beneficiaries receive the death benefit.

When you purchase a life insurance policy, you'll be given the option of designating one or multiple beneficiaries to receive a death benefit in the case you pass away.

This kind of insurance can be purchased as a rider on a life insurance policy, often to increase the death benefit, or as a standalone policy.

If you are involved in a business with a partner, it's possible that you have a buy / sell agreement in which each business owner purchases a life insurance policy on the other owner and then uses the death benefit to buy out the deceased owner's share of the business.

SBLI offers a full suite of whole life insurance policy riders, such as Accelerated Death Benefit, Child Term Rider, Guaranteed Purchase Option and Waiver of Premium.

Or alternatively, if he is a healthy non smoker, he could purchase a guaranteed universal life insurance policy with a $ 350,000 death benefit for as little as $ 3,708 per year, which would generate an tax free, cash benefit of $ 350,000 upon his death.

You can purchase whole life insurance policies from 18 to 80 years old with a minimum death benefit of just $ 10,000.

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.

You use the whole life insurance policy dividends paid by the carrier to purchase extra paid up coverage, which contributes to your overall death benefit, while simultaneously increasing the cash value of your policy.

Given that profile, you can purchase a 30 - year term life insurance policy with a death benefit of $ 500,000, which will be about enough to cover the average young family.

When purchasing a final expense life insurance policy, it is important to be aware of how the death benefits are paid out.

When clients use some of their assets to purchase a life insurance policy, they secure a death benefit amount higher than the amount of premiums paid right away.

For example, if a woman earns $ 75,000 per year, and will do so for the next 20 years, she might purchase a 20 year term life insurance policy with a death benefit in the range of $ 1 Million to $ 1.5 Million.

If you are involved in a business with a partner, it's possible that you have a buy / sell agreement in which each business owner purchases a life insurance policy on the other owner and then uses the death benefit to buy out the deceased owner's share of the business.

This means that the life insurance policy purchased to fund the death portion of the buy - sell agreement can not be transferred to the disabled owner or dropped until the end of the installment period, because the death benefit will be needed to complete the transaction in the event of death during the buyout period.

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.

Other types of policies, such as a whole life insurance policy, may be used for death benefits, establishing a legacy and more, but a 10 year term policy often is purchased with a very specific purpose in mind.

As a rule of thumb, if a life insurance policy is purchased within two years before the suicide, the death benefit may not be paid.

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.

When purchasing a term life insurance policy, you are simply purchasing a death benefit that will be paid in the event of your parents» death.

Had the individual purchased permanent life insurance, he or she could have access to a potentially significant source of supplemental retirement income in the future (depending on the policy type), while preserving the death benefit in perpetuity (note, however, that the death benefit and cash value of a policy is reduced in the event of a loan or partial surrender, and the chance of lapsing the policy increases).

Voya Indexed Universal Life - Protector (Voya IUL - Protector) is a flexible premium adjustable universal life insurance policy that offers a death benefit to the beneficiaries of the policy and may be purchased to meet life insurance neLife - Protector (Voya IUL - Protector) is a flexible premium adjustable universal life insurance policy that offers a death benefit to the beneficiaries of the policy and may be purchased to meet life insurance nelife insurance policy that offers a death benefit to the beneficiaries of the policy and may be purchased to meet life insurance nelife insurance needs.

Voya Indexed Universal Life - Accumulator (Voya IUL - Accumulator) is a flexible premium adjustable universal life insurance policy that offers a death benefit to the beneficiaries of the policy and may be purchased to meet your life insurance neLife - Accumulator (Voya IUL - Accumulator) is a flexible premium adjustable universal life insurance policy that offers a death benefit to the beneficiaries of the policy and may be purchased to meet your life insurance nelife insurance policy that offers a death benefit to the beneficiaries of the policy and may be purchased to meet your life insurance nelife insurance needs.

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.

Voya Indexed Universal Life — Protector NY (Voya IUL - Protector NY) is a flexible premium adjustable universal life insurance policy that offers a death benefit to the beneficiaries of the policy and may be purchased to meet life insurance neLife — Protector NY (Voya IUL - Protector NY) is a flexible premium adjustable universal life insurance policy that offers a death benefit to the beneficiaries of the policy and may be purchased to meet life insurance nelife insurance policy that offers a death benefit to the beneficiaries of the policy and may be purchased to meet life insurance nelife insurance needs.

As for whether or not the life insurance policy that your mother had, will in fact pay out, it will largely depend on the «type» of insurance that she purchased as well as whether or not it contained what is call a «graded death benefit» period.

However, if the insured dies within 2 years of purchasing the life insurance policy the death benefit paid will only be the amount of premium paid plus any interest on that premium.

You should also be aware that if the cost of life insurance as a senior is prohibitive, you can potentially save thousands per year by purchasing a second - to - die policy, which only pays a death benefit upon the second death.

This is a clause that states that should the insured (meaning you) die from NATURAL CAUSES during a certain period of time immediately after purchasing your life insurance policy (typically 2 to 3 years), the life insurance policy will not pay the death benefit (the insurance coverage amount).

Term life insurance is purchased for a given term, typically 5 to 30 years, during which time, if you should pass away, your beneficiaries will receive death benefits in the amount of the policy that you purchased.

When you purchase a Return of Premium (ROP) life insurance policy, if you die during the term, your beneficiaries receive the death benefit.

Most of the policies being purchased are «whole» or «universal» life insurance policies that combine a death benefit with an investment vehicle.

The objective of the IRS code change was to prevent large corporations from purchasing life insurance policies on its non-key employees simply to receive a tax free death benefit when the employee or former employee dies.

Some universal life policies perform like term life insurance: They can be configured at the time of purchase to provide both level death benefits and level premiums that are guaranteed for life as long as you pay the scheduled premium.

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.

After all, because the graded benefit whole life insurance companies aren't going to require that you take a medical exam and aren't going to ask you any medical questions, in theory, you could literally be moments away from deaths door when you decide to purchase your guaranteed life insurance policy and the companies would have no way of knowing!

When it comes to understanding what some of the disadvantages of purchasing a guaranteed acceptance life insurance policy are, the first thing a client or potential customer needs to understand is what the term «Graded Death Benefit» means, and how it could potentially influence whether or not a guaranteed life insurance policy will be the right option for them.

Unlike many of the other types of no medical exam life insurance coverage, the amount of death benefit that can be purchased on a simplified issue policy can usually be as high as $ 400,000.

A graded death benefit is a «clause» that is associated with most (if not all) guaranteed issue life insurance policies, which will state that the insured must not die of natural causes for a certain period of time after the policy is purchased in order for the policy to COVER natural causes of death.

Some life insurance policies are purchased for the sole purpose of providing a 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.