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If death occurs on a Term Life policy is the remaining payment amount deducted from what it is written for?


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Wiki User
2015-07-15 19:32:13
2015-07-15 19:32:13

No

No is correct. Let's look at it this way. Suppose today you buy a term policy for $100,000 and pay the full years premium up front of $300. Exactly 6 months to the date of issue you die, your beneficiary would receive $100,150 which is inclusive of the $100,000 death benefit plus $150 (1/2 years premium) of un-earned premium. WOrks the other way when you are paying monthly or...paying your premiums generally one month in advance or, the insurance company is collecting as earned. 4lifeguild

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