Sentences with phrase «universal death benefit payout»

Not exact matches

For universal life policies, annual premiums and the death benefit payout can vary.

Examples of common riders are: accident death benefit (higher payouts in case of death through an accident) and term conversion (in case you want convert your universal policy into term).

Typically a universal life policy will have two options for the death benefit payout which are option A and option B. Option A is your normal fixed death benefit payout without any cash value, usually this is the amount of coverage you got when you first bought the policy.

If you want leverage (death benefit), universal and variable policies illustrated with a high rate of return, increasing death benefit and low premium provide the highest payout at death.

The death benefit of universal and variable universal life insurance are tied to the success of investments, so the actual death benefit payout may be less than the policyholder planned to leave his or her family if the investments do not yield the anticipated return.

In regards to a payout, the universal death benefit is fixed, but you do have the option to increase or decrease the insurance coverage as your assets, liabilities, and lifestyle needs change.

VOYA Strategic Accumulator Survivorship Universal Life, also known as second to die insurance, provides a death benefit payout on the death of the surviving spouse.