Sentences with phrase «reduced death benefit»

One of the most valuable features of a term policy is the ability to «convert» it to permanent life insurance (usually a guaranteed universal life (GUL) policy), for the original or reduced death benefit, with no proof of health.

For example, they can weigh your immediate financial need against the potential future impact of loan interest accumulation and a reduced death benefit.

If you have not repaid the loan and you pass away, your policy will pay out a reduced death benefit to your beneficiaries based on the amount of your loan.

Policy loans must be paid back with interest or else the beneficiary will receive a reduced death benefit.

If the death benefit is Rs. 50 lakhs and the CI benefit pay out is Rs. 20 lakhs, then after the CI pay out, the policy will continue with a reduced death benefit of Rs. 30 lakhs.

You will have to accept a reduced death benefit, but you will never have to make a premium payment again.

Yes you can borrow against a UL policy, but you'll often need to repay a hefty interest rate, risk losing the policy, or have a reduced death benefit.

Notably, though, even though the net death benefit is only $ 600,000, Andrew's life insurance policy still has cost - of - insurance charges calculated based on the original death benefit, not just the reduced death benefit amount.

Why let your policy lapse or take a reduced death benefit if you can sell it for 3 times the surrender value?

Since Fred is converting his term insurance to permanent insurance, his new policy is very affordable because Fred has reduced the death benefit and his new health conditions have no effect on the premium.

And, in many cases, if the policyholder uses a portion of the long - term care benefits and then passes away, his or her beneficiaries will receive a reduced death benefit amount from the policy.

If a partial benefit payment is claimed, the life insurance policy can continue with a reduced death benefit and lower premiums.

This can take the form of a reduced death benefit, a higher premium, or both.

If you deal with any of the below conditions, you will have to pay a higher premium and likely have to endure a reduced death benefit during the first two years.

When the insured passes away, the designated beneficiaries receive a reduced death benefit, the face value less the portion used under the accelerated death benefit rider.

You stop paying premiums but maintain coverage, albeit with a reduced death benefit.

(Reduced plan pays a reduced death benefit in first three policy years.)

You ultimately must repay any loan with interest or your beneficiaries will receive a reduced death benefit and cash - surrender value.

The recent maturity of two large policies, one with no extension and one with a reduced death benefit on extension, has significantly improved the balance of the portfolio: policies with no expiry date now account for 44 % of the portfolio compared with 41.7 % a year ago.

Even if you have to accept a reduced death benefit in order to make the policy affordable, it will be far better than having no life insurance coverage at all.

This can take the form of a reduced death benefit, a higher premium, or both.

If a partial benefit payment is claimed, the life insurance policy can continue with a reduced death benefit and lower premiums.

If a partial benefit payment is claimed, the life insurance policy can continue with a reduced death benefit and lower premiums.

1 Accessing cash values, through loans and partial surrenders or by accelerating benefits for long term care benefit payments, will reduce the death benefit payable, the cash surrender value and the long term care coverage available.

These loans will reduce the death benefit and policy value dollar for dollar.

Withdrawals will reduce the death benefit and cash surrender value.

Withdrawals will reduce the death benefit and any optional guaranteed amounts in an amount more than the actual withdrawal.

If you die before it is repaid, the carrier will reduce the death benefit your beneficiaries receive by that unpaid amount.

Withdrawals may reduce death benefit and any optional guaranteed amounts in an amount more than the amount of the withdrawal.

A method of calculating the reduction of a VA benefit base after a withdrawal in which the benefit is reduced by the same percentage as the percentage of the withdrawal; for example, a 20 % withdrawal of the money reduces the death benefit by 20 %.

Withdrawals may reduce death benefit and reduce any optional guaranteed amounts in an amount more than the amount of the withdrawal.

Any outstanding loan, plus interest, will reduce your death benefit if you die without having repaid the loan.

Depending on your age, you might decide to: sit tight; reduce the death benefit to make the cash reserves last longer; put in more money (if you're sitting on cash and a 4 % return is guaranteed); exchange the policy for a different one; or sell the policy.

The outstanding loan amount will reduce the death benefit dollar for dollar in the event of the death of the policyholder before the full repayment of the loan.

As you can see, when you withdraw or borrow money from the policy's cash value, the insurer will reduce the death benefit accordingly.

The outstanding loan, plus interest, will reduce your death benefit if you die without having repaid the loan.

**** Accessing cash value of a life insurance policy will reduce death benefit.

7 Withdrawals reduce the death benefit and cash value and thereby diminish the ability of the cash value to serve as a source of funding for cost of insurance charges, which increase as you age.

Doing this will likely reduce your death benefit, so be sure to talk to your agent or financial advisor first.

If you take a withdrawal or don't pay back the loan, you reduce the death benefit for your heirs.

Withdrawals will reduce the death benefit and account value.

Withdrawals will reduce the death benefits and account value.

Several cautions regarding policy loans: First, loans are charged interest and policy loans reduce the death benefit and cash value.

If the premium cost of your current life insurance policy is an issue, you may be able to lower the premium by reducing the death benefit, which would not require an exchange.

Cash value is assessed through loans and withdrawals, which reduce death benefit.

In addition to reducing the death benefit, if you want to surrender the policy or take a loan, the amount of funds available to you will be reduced.

2 Cash values can be accessed through loans and / or withdrawals, but these will reduce the death benefit and may have tax consequences.

A method of calculating the reduction of a variable annuity benefit base after a withdrawal in which the benefit is reduced by the same percentage as the percentage of the withdrawal; for example, a 20 % withdrawal of the money reduces the death benefit by 20 %.

Withdrawals and loans reduce the death benefit and cash value, thereby diminishing the ability of the cash value to serve as a source of funding for cost of insurance charges, which increase as you age.

Keep in mind, however, that loans or withdrawals will reduce your death benefit.