Sentences with phrase «value of the insurance policy dies»

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).

If you die as the direct result of a vehicular, air, or sea accident that you did not deliberately cause, your insurer will pay your beneficiary the accidental death benefit, which is normally twice the value of your insurance policy's face value.

Form 712 states the value of your life insurance policies based upon when you died.

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).

If you die within the time period defined in the policy, the insurance company will pay your beneficiaries the face value of your policy.

If the policyowner dies while the policy remains in effect, the death benefit is paid out to the listed beneficiary or beneficiaries, while the cash value becomes the property of the insurance company.

Joint - Survivor (Second to Die) Life Insurance Joint - Survivor Life is a type of coverage that can be a part of any type of permanent cash - value policy.

In the event that you die, your death benefit will consist of the $ 50,000 from your cash value and $ 450,000 from your term life insurance policy.

Should you die while the policy is in force, your beneficiaries will receive not only your the initial face value as a death benefit, but also it's common for dividends to buy additional insurance by way of what are called «paid up additions», so the death benefit could actually be higher than the face value at the purchase of the policy.

When you die, the life insurance company gets the cash value of the policy while the death benefit is paid out to your beneficiaries.

If you were to die before the waiting period is over, the insurance company will not pay out the face value of the policy, but some companies will refund your premiums.

The life insurance cash value is the amount of money you are given if you cancel (surrender) the policy before you die, while the face amount (death benefit) is the amount your beneficiaries will be paid upon your death.

If you have one of these policies, and you die before the waiting period is over, the insurance company is not legally obligated to payout the face value of the policy.

They are often less expensive than permanent types of life insurance, yet, like many permanent policies, they still may offer cash surrender values if the insured doesn't die.

In many cases a whole life insurance policy will provide some sort of cash value — although that cash value is likely to be far less than the death benefit that would accrue if the policyholder were to die.

The array of products that Western Reserve Life Insurance Company offers for individuals range from financial products, annuities, Term Life Insurance, Universal Life Insurance, Index Universal Life Insurance, 2nd to die policies, to their most famous and valued product which is the Variable Universal Life (VUL) insurancInsurance Company offers for individuals range from financial products, annuities, Term Life Insurance, Universal Life Insurance, Index Universal Life Insurance, 2nd to die policies, to their most famous and valued product which is the Variable Universal Life (VUL) insurancInsurance, Universal Life Insurance, Index Universal Life Insurance, 2nd to die policies, to their most famous and valued product which is the Variable Universal Life (VUL) insurancInsurance, Index Universal Life Insurance, 2nd to die policies, to their most famous and valued product which is the Variable Universal Life (VUL) insurancInsurance, 2nd to die policies, to their most famous and valued product which is the Variable Universal Life (VUL) insuranceinsurance policy.

The face value of an endowment policy will be given to the policyholder on the «maturity date» or to the beneficiary of the life insurance policy in the event the insured dies.

Variable life insurance is similar to whole life insurance — a simpler form of permanent life insurance — in that it pays a tax - free sum to your beneficiaries if you die, and in that it contains a long - term savings component called the «cash value» of the policy.

Life insurance is a self - completing financial product, meaning that while it might take years or decades to save for a home or retirement, the value of a life insurance policy is instant; if you die, your loved ones immediately get the death benefit to keep their financial goals on track.

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).

You pay a monthly premium and in the event that you were to die your beneficiary (the person you designate to receive the life insurance money) receives payment of the face value of your policy.

Permanent, participating life - insurance policies like Adjustable Complife can accumulate a cash value; however, the primary purpose of life insurance is to pay the death benefit if the insured dies.

The accidental death or double indemnity rider pays the beneficiaries twice the face value of a life insurance policy in the event the insured dies as the result of an accident.

With a life insurance policy loan, however, interest on that loan is normally paid out of the remaining cash value (charged to the cash value) when you die.

Permanent life insurance — also known as whole, universal, and variable life policies — is a mix of term life insurance and an investment account that pays a benefit when you die, or pays the built - up cash value if you liquidate it before your death.

If the insured dies within the term of coverage, the insurance company will pay out the designated dollar amount equal to the face value of the policy to the beneficiaries named in the contract.

The permanence makes the plans more of a risk to the insurance company because we will all probably die sometime between now and age 121, meaning they are guaranteed to have to pay your loved ones the full value of your policy.

Regardless of the shifts in the stock market and the value of your assets over time, when you die, term life insurance offers your family a secure financial future whose value you predetermine when you buy your policy.

This type of Life Insurance has no cash value, i.e. no benefits are paid when the policy is expired or the insured person dies after policy expiration.

So, for example, if the death benefit of a life insurance policy that is owned by the insured has a death benefit of $ 500,000, then this amount will be included in the person's overall estate value when he or she dies.

Since YOUR cash in the policy becomes part of the death benefit, in my example above, a $ 10,000 death benefit on a 40 year old policy with $ 7,000 cash value means the insurance company is at «risk» to pay out $ 3,000 when the person dies.

Change of the death benefit type, for owners of universal life insurance policies, can also be made that will either include or exclude in the proceeds any accumulated cash value when the insured person dies.

If the insured dies prematurely the beneficiaries of the life insurance policy receive the death benefit, less any cash value in the policy, income tax - free.

Of course, the caveat is that in addition to charging enough of a premium to have an «excess» to build the value of the policy to $ 1,000,000 at age 100, the insurance company must charge an additional premium to reflect the fact that it is also on the hook for $ 1,000,000 of death benefit if the individual dies before age 10Of course, the caveat is that in addition to charging enough of a premium to have an «excess» to build the value of the policy to $ 1,000,000 at age 100, the insurance company must charge an additional premium to reflect the fact that it is also on the hook for $ 1,000,000 of death benefit if the individual dies before age 10of a premium to have an «excess» to build the value of the policy to $ 1,000,000 at age 100, the insurance company must charge an additional premium to reflect the fact that it is also on the hook for $ 1,000,000 of death benefit if the individual dies before age 10of the policy to $ 1,000,000 at age 100, the insurance company must charge an additional premium to reflect the fact that it is also on the hook for $ 1,000,000 of death benefit if the individual dies before age 10of death benefit if the individual dies before age 100.

Permanent life (which includes whole, universal, and variable life policies) is a mix of life insurance and an investment account that pays a benefit when you die or the built - up cash value if you liquidate it before your death.

You can borrow from this cash value of your insurance policy tax - free while you're still alive and once you have died, your beneficiary will receive the death benefit minus the amount you borrowed (if you didn't pay it back while you were alive).

The contract comes down to this: you agree to pay a premium for a certain amount of insurance, and the insurance company will pay out the face value of your policy to your beneficiary when you die.

In the event that you die, your death benefit will consist of the $ 50,000 from your cash value and $ 450,000 from your term life insurance policy.

If the policy - holder dies within the grace period before the premium is paid, then the insurance provider will deduct the value of the premium from your death benefit.

Joint - Survivor (Second to Die) Life Insurance Joint - Survivor Life is a type of coverage that can be a part of any type of permanent cash - value policy.

If you have ever seen the devastation which overcomes a family when the breadwinner dies you will appreciate the value of a life insurance policy like the 30 year term life insurance policy we are discussing.

Term life insurance covers you for a set period, such as 10, 15, 20 or 30 years, and will pay your loved ones the face value of your policy if you die during that time.

The benefits of permanent life insurance are that you will not have to worry about your coverage ever running out, you will be accumulating a rather impressive «cash value» that you can access even before you die, and the policy itself is treated as a financial asset that can potentially be sold later in life.

Another advantage of the Survivorship life insurance policy, besides leaving money to heirs after both spouses die, is that when one spouse has died, if there is cash value built up in the Survivorship Life Policy, then the surviving spouse may be able to cash in on the cash value of the policy as npolicy, besides leaving money to heirs after both spouses die, is that when one spouse has died, if there is cash value built up in the Survivorship Life Policy, then the surviving spouse may be able to cash in on the cash value of the policy as nPolicy, then the surviving spouse may be able to cash in on the cash value of the policy as npolicy as needed.

Accelerated Death Benefit Accidental Death and Dismemberment Actuary Annuity Application Beneficiary Cash Value Coverage Death Benefit Endowment Life Insurance Extended Term Life Insurance Option Face Amount Guaranteed Acceptance Life Insurance Health Class Insurance Agent Insurance Broker Life Insurance Life Insurance Policy Medical Exam Mortgage Insurance No Medical Exam Life Insurance Permanent Life Insurance Policy Owner Premium Return of Premium Life Insurance Second to Die Life Insurance Survivorship Life Insurance Term Life Insurance Uninsurable Universal Life Insurance Variable Life Insurance Whole Life Insurance

$ 50 per month for $ 50,000 worth of life insurance stays the same at the age it is purchased until the insured dies or until they outlive the policy; usually 99, 100, or 101... Whole LI also accrues cash value that can be borrowed against.

In the event that you die within the specified term, the insurance company pays the face value of the policy as a death benefit to your beneficiaries.

In the event that you die within the specified term, the insurance company pays the exact value of the policy as a death benefit to your beneficiaries.

If you have $ 500,000 of whole life with $ 250,000 of cash value and you die, you get exactly the same amount of money as if you had a $ 500,000 term insurance policy.