Sentences with phrase «value during the life of the policy»

This means that the insurance company only had to pay out $ 300,000 at the time of your death, because you had accumulated $ 200,000 in cash value during the life of the policy.

This policy allows policyholders to have their premiums returned to them if they outlive their coverage term, and also allows them to access cash value during the life of the policy.

Not exact matches

If you die during the grace period, your beneficiary will receive the full value of the death proceeds of your life insurance policy minus any premium that is owed to your life insurance company.

A term life insurance policy offers coverage for a specified period of time, meaning that if you die during the term of the policy the beneficiary will receive the specified payout (also known as the death benefit or face value of the policy).

Indeed, it is simply remarkable that those people responsible for educational and social policy during the past three decades can not make the obvious connection between the deplorable state of education, the multiple tragedies of the inner cities, and the virtual elimination of religiously informed values from American public life.

You can change the death benefits during the life of the policy, usually after passing a medical examination, and you can pay premiums from your accumulated cash value.

A term life insurance policy offers coverage for a specified period of time, meaning that if you die during the term of the policy the beneficiary will receive the specified payout (also known as the death benefit or face value of the policy).

A type of policy that does not expire during the life of the insured and combines a death benefit with a savings portion that can build cash value.

During the first 10 to 20 years of coverage, a whole life insurance policy's cash value is quite small due to fees and the cost of coverage.

3At any time during the life of the policy, you may elect to have your cash surrender value returned to you, ending the policy.

Cash value life insurance is more applicable to wealth building discussions because cash value is typically used during the policy owner's lifetime and is forfeited upon death in lieu of the death benefit being paid to surviving beneficiaries.

Many policyowners who practice infinite banking or who have a life insurance retirement plan consider making use of the cash value they built up in their policy during their lifetimes.

While initial premiums are higher than with a typical term policy, it is possible for coverage to continue until death of the insured, and cash value may accrue in the policy on a tax - deferred basis that can be used to help meet financial needs during your life.

Although the largest policy in the portfolio (by face value) matured during the period, a large proportion of the total death benefit remains linked to a relatively small proportion of lives.

If you own a typical permanent life insurance policy (lifetime coverage) and did a straight present value calculation of the premiums you can expect to pay during your lifetime, the total will be less than the death benefit.

During times of high interest rates, those with universal life might see their cash values accumulate faster than those with whole life policies.

All policy types have a stated death benefit that is paid upon the death of the insured person and permanent life insurance also has a cash value which can be used during the person's lifetime.

As long as premiums are paid, the policy can not be canceled and builds cash value which provides an asset that can be used during the course of their adult life.

For permanent life insurance policies, it can be a used as cash surrender values as a source of emergency funds during a life

This could mean that during periods of rising interest rates, universal life insurance policy holders may see their cash values increase at a rapid rate compared to those in whole life insurance policies.

If all the premiums under the policy are paid up to date, at maturity, the sum of all mortality charges (Life Cover charges), including mortality on Top - up SA, if any, deducted during the policy term will be added to the Fund Value.

Provides death benefits as well as a cash value accumulation that builds during the life of the policy

3At any time during the life of the policy, you may elect to have your cash surrender value returned to you, ending the policy.

In case of death of the Life Assured during this period, only the accumulated fund value will be payable to the nominee After completing five policy years, if it is surrendered, then there is no Surrender / Discontinuance Charges and the Fund Value is paid to the policyholder and the policy will terminate immediavalue will be payable to the nominee After completing five policy years, if it is surrendered, then there is no Surrender / Discontinuance Charges and the Fund Value is paid to the policyholder and the policy will terminate immediaValue is paid to the policyholder and the policy will terminate immediately.

A term life insurance policy offers coverage for a specified period of time, meaning that if you die during the term of the policy the beneficiary will receive the specified payout (also known as the death benefit or face value of the policy).

Whole life insurance is a cash value type of life insurance policy that provides protection during your entire lifetime and offers two key benefits:

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.

The Sum Assured and / or value of the fund units is normally payable to the beneficiaries in the event of risk to the life assured during the term as per the policy conditions.

These policies would typically cost more up front, since the insurance company needs to build up sufficient cash value within the policy during the payment years to fund the policy for the remainder of the insured's life.

This policy has a moderate cash - value component and provides a lower premium during the early life of the policy.

The accumulated cash value of a whole life policy could become a security blanket during life's ups and downs.

Your monthly payments will build the cash value of the policy and you will be able to tap into that money as it is needed later in life or during times of emergency.

Non-participating contracts typically do not pay dividends and the death benefit, premiums, and surrender values will not change during the life of the policy.

Indexed universal life (IUL) insurance is often pitched as a cash value insurance policy that benefits from the market's gains — tax free — without the risk of loss during a market downturn.

Cash - value life insurance is a type of life insurance policy that pays out upon the policyholder's death, and also accumulates value during the policyholder's lifetime.

Policy lapse during the life of the insured can cause the owner a single taxable event for the policy cash value growth accessed in or before the year of Policy lapse during the life of the insured can cause the owner a single taxable event for the policy cash value growth accessed in or before the year of policy cash value growth accessed in or before the year of lapse.

Universal Life and Variable Universal Life policies may allow 30 - 60 days for additional funding premiums to be paid if there is insufficient cash value to sustain the policy during the monthly calculation of expense charges and policy credits.

Many term life policies do allow prorated refunds at some point during the life of the policy, during the insured's lifetime, although such refund is usually «short rated», that is, it is significantly less than the imputed value of the refund if calculated using conventional tables, using the rate of return specified in the insurance contract.

«Life insurance cash values can be accessed during the policy owner's lifetime through two ways, loans and withdrawals,» says Jason Silverberg, vice-president of financial planning at Financial Advantage Associates (Rockville, Maryland).

Some may like to take full advantage of a policies cash value that will build during the duration of their life, while others may not be ready to purchase such a plan until a situation that necessitates insurance arises.

When you purchase a term life insurance policy, you have the policy for a certain amount of time (for example, 20 years), and during that time it doesn't accumulate any cash value.

Dividend payments are typically large enough that whole life owners actually can expect to have a positive rate of return on their life insurance during the life of the owner, meaning after a certain amount of time the cash value of the policy will be larger than the amount of money paid in.

The value can be used to take loans or withdrawals during the life of the policy.

What this means is during periods of rising interest rates, the cash value of your universal life insurance policy could increase rapidly.

As a result, if a permanent insurance policy is held until death, the taxation of any gains are ultimately avoided altogether; they're not taxable under IRC Section 7702 (g) during life, and neither the cash value growth nor the additional increase in the value of the policy due to death itself are taxable at death under IRC Section 101 (a).

Premium payments in a whole life insurance policy are level (will never rise during the life of a policy), but an owner may have the option of paying additional premium into the policy in order to build cash value faster.

The cash value can be used to take loans and withdrawals during the life of the policy.

Whole life insurance also accumulates a cash value, which can be accessed by the owner, during the life of the policy.

Term policies are only insurance; they have no cash value or added savings feature.However, during the life of the policy, you may be able to secure loans using death benefit as collateral.

If the policy is surrendered during the life of the contract the owner will receive the sum of the cash surrender value, even though the insured is not deceased.