Sentences with phrase «up death benefits component»

If the owner is age 70 or older on the election date, the roll - up Death Benefits Component compounds at 1 % less until the contract anniversary immediately preceding the owner's 81st birthday.

Not exact matches

Sure, the shopping process can get a little complicated, especially if your health situation is a little complicated, but at the end of the day, term life insurance is made up of three basic components: your coverage (also known as your death benefit), your term (how long the policy lasts), and your premium (how much you're paying for it).

The other component of the rider is that it pays out up to 75 % of the death benefit, while the insured is living, if he or she is diagnosed with a terminal illness.

Permanent life insurance provides death benefit protection, as well as the opportunity for the insured to build up savings through a cash value component within the policy.

With a permanent life insurance policy, you will be covered with the policy's death benefit, and depending on the policy and the policy design you will also have the ability to build up savings within the policy's cash value component.

In permanent life insurance policies, the death benefit is made up of two components: a regular term life insurance policy and the cash value.

With a permanent life insurance policy, there is both death benefit protection as well as a cash value or investment build up within a component of the policy.

A whole life insurance policy has both a death benefit and a cash value component, with the cash value portion being further broken down into two separate elements — one where the cash value grows on a pre-determined basis during the life of the policy and another non-guaranteed element that is made up of policy dividends or excess interest.

This means that the insured will be covered with a death benefit throughout the remainder of his or her lifetime — provided that the premium is paid — as well as having the ability to build up funds in a cash - value component of the policy.

With permanent insurance, the insured has both death benefit protection as well as a cash value component within the policy that can allow savings to build up.

This is because term life provides only death benefit protection, with no cash value build up or investment component.

Withdraw Money or Borrow Against It When you pay your premium, a portion of each payment goes toward the death benefit, but a portion also goes to building up the policy's savings component (also known as the «cash value»).

Criteria will also include the size of the business, the amount of death benefit required, and whether or not the company has a need for a cash value build up component versus just pure life insurance protection.