Sentences with phrase «withdraw accrued cash»

You may also get a loan based on the value of your permanent policy or withdraw accrued cash.

Not exact matches

In general, cash value that accrues within the life insurance policy not taxable if not withdrawn from the policy.

Additionally, surviving spouses can withdraw cash from the IRA early for any reason without accruing the usual 10 - percent penalty — no questions asked.

There is also a cash value component, which can help the child to accrue tax - deferred savings that he or she can borrow or withdraw in the future.

• Receive Cash — Generally payable annually in the form of a check on the anniversary date of the policy • Use Towards Premiums — Instead of taking the dividends as cash, you can apply the money towards your policy premiums • Let Dividends Accumulate — Means that you accumulate your dividends as interest and can withdraw anytime but will be required to pay taxes on any interest accrued • Buy Paid - Up Options — Means that you can use the dividends to buy additional life insurance of the kind you already have in place • Buy Additional Insurance — You can use the dividends to buy a 1 year term life insurance policy which would be provided as a separate rCash — Generally payable annually in the form of a check on the anniversary date of the policy • Use Towards Premiums — Instead of taking the dividends as cash, you can apply the money towards your policy premiums • Let Dividends Accumulate — Means that you accumulate your dividends as interest and can withdraw anytime but will be required to pay taxes on any interest accrued • Buy Paid - Up Options — Means that you can use the dividends to buy additional life insurance of the kind you already have in place • Buy Additional Insurance — You can use the dividends to buy a 1 year term life insurance policy which would be provided as a separate rcash, you can apply the money towards your policy premiums • Let Dividends Accumulate — Means that you accumulate your dividends as interest and can withdraw anytime but will be required to pay taxes on any interest accrued • Buy Paid - Up Options — Means that you can use the dividends to buy additional life insurance of the kind you already have in place • Buy Additional Insurance — You can use the dividends to buy a 1 year term life insurance policy which would be provided as a separate rider

On the other hand, whole life insurance advantages begin with the cash value that accrues, making whole life a steady long term investment, especially since returns are guaranteed and tax - deferred until they are withdrawn from the policy.

It also includes a cash value component that accrues value over time, allowing you to borrow or withdraw funds as needed.

If a financial advantage is your goal, a whole life policy offers options not available in term life, including the ability to withdraw or borrow against the accrued cash value of the policy.