Sentences with phrase «simply accumulate cash value»

You can also pay extra in order to simply accumulate cash value.

Not exact matches

(So if we just answered your question, click here to compare term life quotes) Term life insurance does not accumulate any cash value and is simply basic life insurance protection with no bells or whistles.

These policies act like Term, in that the death benefit is paid out simply because you've kept your premiums up to date, not because they've accumulated a cash value...

And lastly, do I want a life insurance policy that will accumulate cash value over the years, or do I simply just want protection for my loved ones if I can't be around for them someday?

In some cases, the replacement policy is one that has more flexibility (e.g., going from a whole life policy to a universal life policy), or just costs less to maintain (e.g., a death - benefit - only universal life policy that doesn't accumulate cash value, to replace an existing cash value accumulation policy, so the new policy can simply be held until death to obtain the tax - free death benefit).

And when you decide you don't want the «term» policy anymore, simply surrender the policy and receive a full distribution of your accumulated cash value without any surrender charges; on the other hand, if it turns out that you do need the policy for longer than the original term time horizon, you have a permanent policy that can be maintained and receive additional deposits as necessary, without the hassles and hazards of seeking out a term conversion.

Your family simply gets the death benefit if you die, and you accumulate additional cash value.