Antoine

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So far Antoine has created 34 blog entries.

Direct & Non-Direct Recognition

  Direct & Non-Direct Recognition There are two different methods insurance companies use to handle the loaned cash value: direct recognition and non-direct recognition.  When someone takes out a policy loan, the money comes out of the insurance company’s pool of money, and the policy owner can decide how much, how quickly and when the [...]

By |January 18th, 2018|Live Your Life Insurance - Book Index|0 Comments

Death Benefit

The death benefit is just what it implies: you die, and the company pays your beneficiary(ies) a guaranteed tax-free death benefit.  “Face amount” is just another term for death benefit. With a properly structured Whole Life policy, the death benefit amount increases every year through the policy dividends and Additional Deposits that purchase Paid-Up Additions [...]

By |January 18th, 2018|Live Your Life Insurance - Book Index|0 Comments

Creditor Protection

One unique feature of life insurance is that it has a built-in provision for creditor protection.  This means that the money and value within a life insurance policy are supposed to remain free of claim from any creditors should something unforeseen happen to you.  In most cases, if you wish to take advantage of the [...]

By |January 18th, 2018|Live Your Life Insurance - Book Index|0 Comments

Collateral Assignment

A collateral assignment is a term used when you take your policy to a third-party institution (ie. the bank) and use your policy and its cash values as collateral for a loan, typically in the form of a line of credit.  A primary advantage of doing this is that all monies advanced are considered loan [...]

By |January 18th, 2018|Live Your Life Insurance - Book Index|0 Comments

Cash Withdrawal

  Cash Withdrawal The two most common methods for accessing money from your policy are cash withdrawal and policy loans.  Each method comes with unique rules and tax consequences.  A cash withdrawal from a Whole Life insurance policy is typically achieved by surrendering Paid-Up Additions (see “Paid-Up Additions”) that have accumulated over time.  The surrender [...]

By |January 18th, 2018|Live Your Life Insurance - Book Index|0 Comments

Cash Value

One of the big differences between a Term life insurance policy and a Whole Life insurance policy is the accumulation of cash inside the policy.  With Whole Life insurance, as long as you make your premiums as required, the cash values are guaranteed to never lose their value while inside the policy.  Once they are [...]

By |January 18th, 2018|Live Your Life Insurance - Book Index|0 Comments

Cash Surrender Value – CSV

The cash surrender value is the amount of money that you would receive from the insurance company should you decide to cancel an existing coverage.  This value is calculated by the insurance company based on how long you’ve had the policy, how well you’ve funded it, how many outstanding loans you have on it, and [...]

By |January 18th, 2018|Live Your Life Insurance - Book Index|0 Comments

Cascading Life Insurance

Cascading life insurance is a concept based on the grandparent or parent buying a life insurance policy on the life of a grandchild or child.  As the owner of the policy, the grandparent or parent retains full control of the policy until he or she feels that the grandchild or child is responsible enough to [...]

By |January 18th, 2018|Live Your Life Insurance - Book Index|0 Comments

Beneficiary

There are four main parties to every life insurance contract: the life insured, the policy owner (could be the same person as the life insured), the beneficiary and the insurance company. As part of the application process, the owner of the policy sets up one or several beneficiaries. The beneficiary(ies) will receive the proceeds or [...]

By |January 18th, 2018|Live Your Life Insurance - Book Index|0 Comments

Automatic Premium Loan – APL

The Automatic Premium Loan is the most commonly used of the built-in "Non-Forfeiture Clauses" (see “Non-Forfeiture Clauses”) within a Whole Life insurance policy.  The APL ensures that the client’s policy doesn’t lapse or get cancelled,  should the client ever come into cash flow difficulties down the road.  It may go by a different name at [...]

By |January 18th, 2018|Live Your Life Insurance - Book Index|0 Comments