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Answered 2010-04-02 02:49:02

decreasing term insurance

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The face value of which type of insurance is reduced over the life of the policy-?

The decreasing term insurance has its face value reduced as the policy ages.


How do you reduce lift insurance policy face value and payment?

You reduce the lift insurance policy face value and payment by considering the basics of the cash value policy basics.


Can you surrender a life insurance policy?

yes, we can surrender a life insurance policy. If we surrender the policy means we can surrender by its cashvalue. If we surrender for the entire cashvalue then it is called full surrender. If we surrender for a part of its cash value then it is called partial surrender. Any way the cash value gets reduced. It effects the face amount. so the face amount also gets reduced. Hence no of units gets reduced.



Which of these is an element of term life insurance?

This life insurance policy is worth only the face value.


Cash value of paid in full 20 year juvenile industrial life insurance policy?

The cash value of any policy depends on its face value and the value of the policy at maturity when the policy has been maintained in force. The insurance company issuing the policy will be able to give you the answer you want.


How much can a old life insurance pay?

What's the face value of the policy?


What is face value for life insurance?

Face value is the amount of life insurance that is stated on the front page (declarations) FACE of the policy. You might get paid less than that if you have policy loans. More if it's accidental death. Some policies pay dividends.


Is there cash value in decreasing term insurance?

Decreasing term life insurance does not usually have any cash value. Decreasing term life insurance is life insurance coverage in which the face amount of a term life insurance policy declines by a certain specified amount over a specific number of years. For example, the initial face amount of coverage of a $200,000 decreasing term life insurance policy decreases by $20,000 each year, until after 10 years the face value of the policy equals zero. The premium does not decrease over the term of the policy.


Does a beneficiary have the right to know the face value of a life insurance policy?

Yes, they have a right to know the face value of a life insurance policy because if they die they could pass the money to people who needs it and they could do better thing to other people


What are the benefits of life insurance settlement?

A life settlement is a financial transaction in which the owner of a life insurance policy sells an unneeded policy to a third party for more than its cash value and less than its face value. Until recently, if a policyowner opted out of a policy by surrendering the policy or allowing it to lapse, the additional value was relinquished back to the issuing life insurance company.


Does the face amount of endowment insurance double if you are alive at the end of the period?

No. At the end of an endowment policy, the cash value equals the face amount.


What is a matured endowment though insurance company?

A matured endowment is a life insurance policy where the current cash value has become equal to the face amount of the policy. The policy is mature. So, the insurance company issues the insured a check for the face amount (death benefit) even though the insured is still alive.


When a reduced-paid up nonforfeiture option is chosen what happens to the face amount of the policy?

IT IS REDUCED TO THE AMOUNT OF WHAT THE CASH VALUE WOULD BUY AS A SINGLE PREMIUM


How do you determine the value of an old burial insurance policy from Southern Bankers Insurance Company?

You could submit a claim but that usually means dying first. Short of dying, you could surrender the policy for its surrender value. The surrender value depends on many things but it starts a zero when the policy is bought and grows to the face amount as the policy ages. The hardcopy of the policy should show a face amount but will likely also include a schedule for the surrender value. If the hardcopy of the policy can't be located, a call to the company is in order.


What are the disadvantages of a Modified whole life insurance policy?

A major disadvantage of a modified whole life insurance policy is that you can never change the face value on your policy. Additional coverage would require the purchase of an another policy. Also the growth potential on your policy is limited.


What would your 2500 life policy by worth if you got it in 1952?

If the policy was a term life insurance policy and presuming that you paid all premiums and the policy did not lapse for non-payment, it would be considered to be "fully paid-up". Therefore, upon the insured's death, the insurance company would be obliged to pay the face value of the policy. If the policy was a "whole life insurance policy", cash value would probably have accumulated so it may have more value ($2500 plus the accumulated cash value). A definitive answer cannot be given without reviewing the policy.


How much of the face value will you receive if you surrender policy?

You will receive the cash value minus the surrender charges, not the face value of the policy.


Which of the following best represents what is meant by life insurance creates an immediate estate?

The face value of the insurance policy is payable to the beneficiary upon the death of the insured.


What face policy?

Generally, the purchaser of the policy has to face it, especially in light of the usual practice of insurance carriera.


How can I cash in a 53 year old insurance policy from Life and Casualty Insurance Co.?

I did it. Phone the company or its successor. Ask the SURRENDER value and the face value, and the loan value. Ask for the largest of those, and pocket the cash.


If your face amount is 150000 what is your cash value?

You can't tell from Face amount. Check the policy for the cash value schedule. The Insurance Company should send you an annual statement. Call the company.


What is paid up value in a life insurance policy?

The paid up value of your life insurance is the point at which no further premiums have to be paid. It can occur either by paying all of the premiums in a lump sum or by paying all of the premiums due in instalments. The precise value of a paid up policy is a fanction of the face amount of the policy, less policy loans or accrued earnings, if applicable.


Can you take out a loan on a life insurance policy?

That depends on the life insurance policy. The policy must be one that builds cash value before a loan can be taken. Simply, if the policy is a 'term life policy' it lasts for a defined period - 10 years, 20 years, etc. - and charges a low premium. It doesn't build cash value you can borrow against. 'Whole life policies', on the other hand, have a part of the premium paid set aside for cash value. For this reason, the amount of premium charged for a whole life policy will be higher than the premium charged for a term life policy with the same face value. NOTE: A loan is taken against the cash value of a policy, not the face value ( death benefit ). So if the face value is $10,000 and the cash value is $3,000, the loan would be taken against the $3,000.


Can you count the face amount of an insurance policy as part of your net worth?

No. But you can count it's redeemable value as part of your net worth. Be aware that not all life insurance policies have redeemable value. Contact your insurance agent for more details.


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