Sentences with phrase «value upon surrender»

Permanent life insurance has cash value upon surrender, offers savings you can use when accumulated, or even dividends for certain types of policies.

How they benefit is by being able to obtain the true value of the policy instead of merely receiving the cash surrender value upon surrender or nothing upon letting the policy lapse.

Choice Income also offers a Guaranteed Minimum Surrender Value (GMSV) 9, which may increase your contract value upon surrender, after the withdrawal charge period but terminates on the GLWB Activation Date.

Repayment of loans from policy values upon surrender or lapse can trigger a potentially significant tax liability and there may be little or no cash value remaining in the policy to pay the tax.

Not exact matches

Contract - a mutually agreed upon arrangement between two Individuals whereby their reciprocally inequitable value scales have led them to trade marginal units of something they have for units of something they don't have which is of greater perceived personal value than the marginal units being surrendered; a voluntary, bilaterally beneficial interaction of trade

Note that there is a «surrender period,» which is the period of time that a policyholder must wait before it is possible to receive the cash value of the policy upon canceling.

However, a MYGA with a market value adjustment could reduce the amount you're able to access upon surrender.

A MYGA with a Market Value Adjustment would increase / decrease the amount of money available upon premature surrender if interest rates have decreased / increased since purchase.

Terminal Illness / Nursing Home Care Rider After the first policy year, the withdrawal charge on withdrawals up to 50 % of the Cash Surrender Value ($ 1,000 minimum) is waived upon the occurrence of one of the following events for the Owner: (a) Terminal illness (life expectancy of 12 months or less).

Otherwise, the cash surrender value may be exposed to creditors depending upon a variety of factors, including local state law provisions.

If a policy of insurance has been or shall be effected by any person on his own life or upon the life of another person, the policyowner shall be entitled to any accelerated payments of the death benefit or accelerated payment of a special surrender value permitted under such policy as against the creditors, personal representatives, trustees in bankruptcy and receivers in state and federal courts of the policyowner.

On the other hand, if you own permanent life insurance, the policy may have a cash surrender value (CSV), which you can receive upon surrendering the insurance.

By definition, the paid up value of a life insurance policy is the value an owner receives from the insurer upon default or surrender or early termination of the policy before its maturity or the insured's death.

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.

Upon surrender of this policy, this value may be reduced by a surrender charge, policy fee, or outstanding loan.

Cash Surrender Value for Deferred Annuity Products The amount payable to the policy owner upon surrender of thSurrender Value for Deferred Annuity Products The amount payable to the policy owner upon surrender of thsurrender of the policy.

It states: «Guaranteed death benefits and values available upon surrender, if any, for the illustrated premium outlay or contract premium shall be shown and clearly labeled guaranteed... The guaranteed elements, if any, shall be shown before corresponding non-guaranteed elements and shall be specifically referred to on any page of an illustration that shows or describes only the non-guaranteed elements.»

A policy service charge of $ 30 is not included in these charges, but will be deducted each year from the policy's Accumulation Value on the policy anniversary and upon surrender if on that date the accumulation value is less than $ 100,00Value on the policy anniversary and upon surrender if on that date the accumulation value is less than $ 100,00value is less than $ 100,000.00.

A policy service charge of $ 30 is not included in these charges, but will be deducted from the policy's Accumulation Value on the policy anniversary and upon surrender if on that date the Accumulation Value is less than $ 100,000.00.

Cash surrender value is the accumulated portion of a permanent life insurance policy's cash value that is available to the policyholder upon surrender of the policy.

Upon approval, they can surrender the current policy and get the cash value?

In just one section, titled: Federal Tax Lien, the article states: «Section 6321 of the Internal Revenue Code imposes a tax lien «upon all property and rights to property, whether real or personal,» belonging to a taxpayer, if he or she neglects or refuses to pay any taxes, including cash surrender values of insurance policies.»

• Cash value accumulation means that contract terms and conditions upon surrendering must not exceed its net single premium which is said to be paid at the time the contract has been obtained to acquire future benefits.

The result will depend upon multiple factors such surrender value factors, no.

Your surrender value will further be reduced because by any surrender charges that are applicable, depending upon your policy year and surrender charge schedule.

Any outstanding loan, with accrued interest, will be subtracted from the death benefit or cash value, upon death or surrender, respectively.

A withdrawal will reduce your cash value and surrender value by the amount of gross withdrawal, and will also reduce the face amount of the contract (the amount paid to beneficiaries upon the insureds death) by the amount of the withdrawal as well.

This is not necessarily the same as the cash value, which is calculated before any fees are taken upon surrender.

After the premium is paid for a few years, the policy attains a certain surrender value depending upon the terms mentioned in the plan.

However, the amount of the loan depends upon the terms & conditions as well as the surrender value that the policy has gained.

For Limited and Regular Payment policies, Surrender Value gets acquired upon payment of premiums for 2 years - in case premium payment term is less than 10.

It has a cash value and a dividend which you can collect either in the form of a policy loan or upon surrender of the policy.

VSRB is paid only if applicable, and its value is equal to the product of accrued bonuses and surrender value factor, the latter depends on the year of surrender and minimum (surrender upon completion of 3 years) is 15.28 %, the factor goes on increasing as years increase.

In case you're surrendering a cash - value policy, the proceeds due upon surrendering will go to the beneficiaries.

Upon surrendering the policy after the completion of the lock - in period of 5 years, the fund value as on the date of termination is payable.

Upon surrendering the policy with - in the lock - in period of 5 years, the fund value after deducting Policy Discontinuance Charges are credited to the Discontinued Policy Pension Fund.

Upon surrendering the policy with - in the lock - in period of 5 years, the Fund Value less applicable discontinuance charges is credited to the «Discontinued Policy Fund» and it is refunded upon completion of the lock - in perUpon surrendering the policy with - in the lock - in period of 5 years, the Fund Value less applicable discontinuance charges is credited to the «Discontinued Policy Fund» and it is refunded upon completion of the lock - in perupon completion of the lock - in period.

Upon surrendering the policy with - in the lock - in period of 5 years, the fund value (including top - up fund value) less applicable discontinuance charges is credited to the «Discontinued Policies Fund» and it is refunded upon completion of the lock - in perUpon surrendering the policy with - in the lock - in period of 5 years, the fund value (including top - up fund value) less applicable discontinuance charges is credited to the «Discontinued Policies Fund» and it is refunded upon completion of the lock - in perupon completion of the lock - in period.

Upon surrendering the policy after the lock - in period of 5 years, the Fund Value as on the date of surrender is payable immediately and the policy then terminates.

Upon surrendering the policy with - in the lock - in period of 5 years (Regular & Limited Pay Option), the fund value less applicable discontinuance charges is credited to the «Discontinued Policy Fund» and it is refunded upon completion of lock - in perUpon surrendering the policy with - in the lock - in period of 5 years (Regular & Limited Pay Option), the fund value less applicable discontinuance charges is credited to the «Discontinued Policy Fund» and it is refunded upon completion of lock - in perupon completion of lock - in period.

Upon surrendering the policy after the lock - in period of 5 years, the Fund Value (including top - up fund value) as on the date of surrender is payable immediaValue (including top - up fund value) as on the date of surrender is payable immediavalue) as on the date of surrender is payable immediately.

Upon surrendering the policy with - in the lock - in period of 5 years, the Fund Value (including top - up fund value) is credited to the «Discontinued Fund» and it is refunded upon completion of the lock - in perUpon surrendering the policy with - in the lock - in period of 5 years, the Fund Value (including top - up fund value) is credited to the «Discontinued Fund» and it is refunded upon completion of the lock - in peValue (including top - up fund value) is credited to the «Discontinued Fund» and it is refunded upon completion of the lock - in pevalue) is credited to the «Discontinued Fund» and it is refunded upon completion of the lock - in perupon completion of the lock - in period.

Upon surrendering the policy with - in the lock - in period of 5 years, the fund value less applicable discontinuance charges is credited to the «Discontinued Policy Fund II».

Upon surrendering the policy with - in the lock - in period of 5 years, the fund value less applicable discontinuance charges is credited to the «Discontinued Policy Fund» and it is refunded upon completion of lock - in perUpon surrendering the policy with - in the lock - in period of 5 years, the fund value less applicable discontinuance charges is credited to the «Discontinued Policy Fund» and it is refunded upon completion of lock - in perupon completion of lock - in period.

Upon surrendering the policy after the lock - in period of 5 years (Regular & Limited Pay Option), the Fund Value as on the date of surrender is payable.

Upon surrender, the insurer pays the accumulated cash value less any surrender charges specified in the policy.

Most whole life insurance policies specify a «surrender value», which varies depending upon how long the policy has been in force and premiums paid.

Upon surrendering the policy after the lock - in period of 5 years, the Fund Value as on the date of surrender is payable to the policyholder.

Upon surrendering the policy with - in the lock - in period of 5 years and on complete withdrawal from the policy, the fund value less applicable discontinuance charges is credited to the «Discontinued Policy Fund» and it is refunded upon completion of lock - in perUpon surrendering the policy with - in the lock - in period of 5 years and on complete withdrawal from the policy, the fund value less applicable discontinuance charges is credited to the «Discontinued Policy Fund» and it is refunded upon completion of lock - in perupon completion of lock - in period.

Upon surrendering the policy with - in the lock - in period of 5 years, the Fund Value (including top - up fund value) less applicable discontinuance charges is credited to the «Discontinued Fund» and it is refunded upon completion of the lock - in perUpon surrendering the policy with - in the lock - in period of 5 years, the Fund Value (including top - up fund value) less applicable discontinuance charges is credited to the «Discontinued Fund» and it is refunded upon completion of the lock - in peValue (including top - up fund value) less applicable discontinuance charges is credited to the «Discontinued Fund» and it is refunded upon completion of the lock - in pevalue) less applicable discontinuance charges is credited to the «Discontinued Fund» and it is refunded upon completion of the lock - in perupon completion of the lock - in period.