Sentences with phrase «whole amount of the death benefit»

If the beneficiaries would prefer not to collect the whole amount of the death benefit at one time, there are alternative settlement options that can be chosen.

Second, if the deceased insured owned the policy on the date of death, the whole amount of the death benefit is included in the estate and subject to estate tax.

First, if the death benefit is paid to the estate of the insured, then the whole amount of the death benefit is included in the estate and subject to estate tax.

Mrs.Sharma received the whole amount of the death benefit at once which made it difficult for her to make any investment or saving decision with such a huge amount of money.

Not exact matches

Colonial Penn's term and whole life insurance products don't require a medical exam and have a maximum death benefit of $ 50,000, meaning you'll typically pay higher premiums and won't be able to purchase a greater amount of coverage should your financial needs change.

Whole life insurance will pay out a set amount of money to your beneficiaries when you die, called a «death benefit.»

If you have an outstanding loan on your whole life insurance policy when you die, the death benefit that is paid out to your beneficiary (or beneficiaries) will be reduced by the unpaid amount of..

With whole life, the amount of the death benefit is guaranteed, and the cash value that is within the policy is allowed to grow on a tax - deferred basis.

Q. Is the amount of an unpaid loan from a whole life insurance policy deducted from the death benefit?

A whole life insurance policy will offer guaranteed level premiums throughout the life of the policy, as well as a guaranteed amount of death benefit.

What is different between whole life and universal life is that with whole life, premiums and the amount of the death benefit are fixed.

Whole life insurance ensures a guaranteed amount of death benefit protection — regardless of how long the insured lives.

Another benefit of whole life insurance is that you can put a seemingly unlimited amount of money into your policy, based on your policy's death benefit.

In order to do that, the exact amount of annual death benefits must be identical in both the term life insurance product and the whole life insurance product.

The point is to input the exact same amount of annual life insurance death benefit and PREMIUMS, for both the term and whole life products, in order to do a true: Buy term life insurance and invest the difference into an alternate investment vehicle (called a mutual fund in this software) vs. buying whole life and «investing» in the life insurance company's subaccounts.

Just keep in mind to ensure that the amounts of annual death benefit you input are identical in EVERY YEAR in BOTH the term and whole life products.

Death benefit amounts can sometimes vary year to year depending on the type of policy (universal or whole life) that is purchased.

Because term is so much cheaper than whole life insurance, you can buy a lot more coverage (meaning a larger death benefit) for the same amount of money.

This rider offers an accidental death benefit that is equal to the policy's face amount — and pays out in addition to the whole life insurance benefit if the insured dies as the result of a covered accident.

Universal life provides a death benefit, and cash value build up, however, these policies are more flexible than whole life, as the policyholder may (within certain guidelines) alter the timing and the amount of the premium payment.

With whole life insurance, your death benefit, as well as the amount of premium that you pay, are both locked in and guaranteed.

With whole life insurance, the premium amount will never increase, and the amount of the death benefit will not decrease — even as the insured gets older (and even if he or she contracts an adverse health issue).

Whole Life policies provide a guaranteed amount of death benefit (in this case $ 250,000) and a guaranteed rate of return on your cash values.

These policies are more flexible than whole life, however, as the policyholder — within certain guidelines — may choose the amount of premium that goes towards the death benefit and the amount that goes into the cash value.

With the whole life insurance policy through Colonial Penn, the full amount of the death benefit will be paid out to a named beneficiary (or multiple named beneficiaries), regardless of when death occurs.

Death benefit amounts can sometimes vary year to year depending on the type of policy (universal or whole life) that is purchased.

Another thing to keep in mind is that term insurance is less costly than whole life insurance for equal amount of death benefit.

Because it is whole life, premiums never increase, but your initial monthly cost will be substantially higher than the term counterpart of the same death benefit amount.

As with whole life insurance, you may be able to take loans against the cash value of a universal life policy, however the death benefit and cash value will be reduced by the amount of any outstanding loans and interest upon your death.

Because term is so much cheaper than whole life insurance, you can buy a lot more coverage (meaning a larger death benefit) for the same amount of money.

This complete assessment of a family's financial needs will help determine the correct life insurance provider, type of insurance (term life, whole life, or a combination of both), death benefit amount, and the amount of monthly premium the insured can afford to maintain the policy.

Whole life insurance will pay out a set amount of money to your beneficiaries when you die, called a «death benefit.»

You pay a monthly premium — typically about one fourth the cost of whole life premiums — in exchange for the promise that your life insurer will pay out a pre-set death benefit (also known as your «coverage» or «face amount») to your survivors (also known as «beneficiaries»).

Death benefit amounts of whole life policies can also be increased through accumulation and / or reinvestment of policy dividends, though these dividends are not guaranteed and may be higher or lower than earnings at existing interest rates over time.

Q. Is the amount of an unpaid loan from a whole life insurance policy deducted from the death benefit?

If you have an outstanding loan on your whole life insurance policy when you die, the death benefit that is paid out to your beneficiary (or beneficiaries) will be reduced by the unpaid amount of..

The death benefit of a whole life policy is normally the stated face amount.

With a whole life insurance plan, the amount of the policy's death benefit will remain the same, as will the amount of the premium payment.

With whole life, the amount of the death benefit is guaranteed, and the cash value that is within the policy is allowed to grow on a tax - deferred basis.

Whole life policies offer a choice of having a level benefit (where the policy pays out the face amount and any rider benefits to a named beneficiary upon the insured's death), or a graded benefit (where the policy will pay out a reduced amount of benefit if the insured's death occurs for reasons other than an accident within the first two policy years).

Good article - I do believe whole life insurance can have it's place, but I think the most important thing is the «right amount» of total insurance, or death benefit.

This often makes getting the right amount of death benefit difficult through a whole life insurance policy.

In case of «Whole Life Plan'the policy holder is obliged to pay a fixed amount of premium on a regular basis till the term of the policy, failing which will cease the death benefit payable under the policy.

Used to preach, buy term, invest the difference... But a permanent death benefit, cash values, tax free loans, tax free lump sum payment to beneficiary, privacy of beneficiary info, very difficult for others to get at your cash value, ability to fund very high amounts with tax benefits, cheaper while you are younger / healthy, paid up additions, Potential less premium with IUL and index gains potential, or Whole Life and pay more for insurance, but higher dividends...

Likewise, because the premium on a whole life insurance policy — as well as the amount of the death benefit — will typically remain the same, you may also want to consider whole life insurance if you want to «lock in» life insurance protection for the long term.

Since those insured by whole life never have to requalify, they can count on a specific amount of death benefit for their survivors at a premium that never changes.

Whole life insurance is structured so that the contract is guaranteed to provide a certain minimum amount of cash value as well as a death benefit.

The low cost means you may buy more death benefit for the same amount of money when compared to whole life.

Whole life insurance provides a set amount of death benefit protection, as well as a premium that will not increase over time — even as the insured ages, or if they contract an adverse health issue.

This means you can exchange or convert your term insurance policy for a whole life insurance policy with the same death benefit amount of your term insurance policy.