Sentences with phrase «reduced death benefit policies»

Not exact matches

This has the impact of providing you cash as well as reducing the life insurance policy's death benefit.

(Keep in mind, however, that withdrawing or borrowing funds from your policy will reduce its cash value and death benefit if not repaid.)

¹ Access to cash values through borrowing or partial surrenders will reduce the policy's cash value and death benefit, increase the chance the policy will lapse, and may result in a tax liability if the policy terminates before the death of the insured.

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

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

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

While the cash value feature is an attractive option it's important to remember, though, that tapping into the cash value of a life insurance policy reduces its value and death benefit and increases the chance the policy will lapse.

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

My understanding would be each time you got $ 10,000 the death benefit would be reduced by $ 10,000 but it appears most (or maybe all) of the policies don't work that way.

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).

Also, tapping into the cash value of a life insurance policy reduces its value and death benefit and increases the chance the policy will lapse.

For example, parents may want to gift to a child via a large life insurance policy, but they hold back out of fear that the death benefit might reduce the child's motivation to pursue a degree or build a career.

This is known to cause premature death, and policies that aim to reduce our consumption of fossil fuels often cite the potential health benefits — and related cost savings — linked to reducing air pollution.

This has the impact of providing you cash as well as reducing the life insurance policy's death benefit.

Outstanding loans and withdrawals, however, will reduce policy cash values and the death benefit, and may have tax consequences, so talk with your agent about the pros and cons before taking a loan out on your policy.

Policy loans and / or withdrawals also reduce the cash surrender value and policy death benefit and increase the chance that a policy will Policy loans and / or withdrawals also reduce the cash surrender value and policy death benefit and increase the chance that a policy will policy death benefit and increase the chance that a policy will policy will lapse.

Outstanding loans accrue interest, reduce the policy's death benefit, and increase the chance that the policy will lapse.

Colonial Penn's Guaranteed Acceptance Program is a whole life insurance policy with a limited death benefit, and is often marketed to seniors that want to reduce their family's financial impact upon their death.

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.

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

Policy loans and withdrawals will reduce the contracts, cash value and death benefit and may cause the policy to Policy loans and withdrawals will reduce the contracts, cash value and death benefit and may cause the policy to policy to lapse.

Policy loans or withdrawals will reduce the policy's cash value and death benefit, and may require additional premium payments to keep the policy in Policy loans or withdrawals will reduce the policy's cash value and death benefit, and may require additional premium payments to keep the policy in policy's cash value and death benefit, and may require additional premium payments to keep the policy in policy in force.

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

Any decrease in the policy's cash value could reduce the policy's death benefit.

Loans and withdrawals reduce the policy's cash value and death benefit amount.

If you have an outstanding loan on your whole life insurance policy when you die, the death benefit that is paid out to your beneficiary (or beneficiaries) will be reduced by the unpaid amount of..

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

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

With universal policies (universal life and variable universal life) you can reduce or increase the amount of the death benefit and vary the amount or timing of premium payments, subject to certain limitations.

A life insurance policy can also help supplement retirement income, which can be especially useful if the benefits of your spouse or partner will actually be reduced after your death.

The Easy Pay Solutions policy has a small maximum death benefit, but will be less expensive because Transamerica is able to reduce its risk when you accept a limited payout for the first 2 years of coverage.

Of course, tapping cash values through borrowing or partial surrenders will reduce the policy's cash value and death benefit.

1 Such loans increase the chance a policy will lapse, reduce the ultimate death benefit, and could result in a tax liability if the insured dies before the loan is repaid.

If you take a loan, withdrawal or partial or whole surrender, your death benefit may be reduced, your policy may lapse or you may face tax consequences.

(Keep in mind, however, that withdrawing or borrowing funds from your policy will reduce its cash value and death benefit if not repaid.)

In addition, most policy loans and withdrawals are not taxable (although withdrawals and loans will reduce the cash value and death benefit).2

Of course, withdrawals or loans that are not repaid will reduce the policy's cash value and death benefit.

Benefit payments under this rider reduce the policy's death bBenefit payments under this rider reduce the policy's death benefitbenefit.

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.

Because the loan will reduce the amount of available cash value in the policy, however, it will also reduce the amount of death benefit.

Withdrawals reduce the policy value and death benefit.

Policy loans accrue interest and reduce cash value and death benefit.

Cash value can be accessed through loans and partial surrenders which accrue interest and, if not paid back, will reduce the policy's death benefit and cash 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.

When you access the cash value in a life insurance policy, it will reduce the cash value and death benefit.

Loans and withdrawals from a permanent life insurance policy will reduce the policy's cash value and death benefit, and may require additional premium payments to keep the policy in force.

Tapping the cash value may reduce the policy's death benefit.

Loans and withdrawals reduce the policy's cash value and death benefit and increase the chance that the policy may lapse.

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.