Whole life insurance paid-up status occurs when you do one of two things. First, you reach paid-up status when you make the required number of premium payments stipulated in the insurance contract. Second, you can electively create a paid-up whole life policy by triggering the reduce paid-up nonforfeiture benefit of a whole life policy. How …
Reversing the process for calculating the payable dividend on a whole life insurance policy is nearly impossible given the proprietary nature of life insurers. This said we can use several pieces of information to at least create an approximation on the correctness of the dividend earned on a whole life policy in any given policy …
If you are looking to borrow against your life insurance you have to ensure that you have the correct type of policy and that your policy has cash surrender value. Once you determine that you have a type of life insurance that permits borrowing and that you have cash value against which you can borrow, …
The New York Life Insurance Company announced today its plans to pay participating policyholders around $1.8 billion in dividends in 2021. This payment represents a $100 million total dividend payment decline to all participating policyholders over the 2020 payment. In a press release, New York Life’s Chariman and CEO expressed his confidence in New York …
The Ohio National Life Insurance Company announced its plans to pay participating policyholders around $100 million in dividends in 2021. This payment roughly the same total dividend payment to all participating policyholders in 2020. In a press release, Ohio National’s President and COO noted the current low interest rate environment’s impact on dividends given adjusted …
A partial surrender of a life insurance policy releases some of its cash value while keeping the policy in force. This means the policy owner can remove some of the cash value in his/her policy without having to cancel the entire policy. Life insurance policy owners most commonly make use of this feature either when …
The MassMutual Life Insurance Company today announced its plans to pay participating policyholders $1.7 billion in dividends in 2021. This payment equals the same total dividend payment to all participating policyholders in 2020. In today’s press release, MassMutual noted business diversity in its strong business performance in non-participating life insurance that continues to bring additional …
The Northwestern Mutual Life Insurance Company today announced its plans to pay participating policy owners a combined $6.2 billion in dividends in 2021. This payout represents the largest total payout of dividends in Northwestern’s history and will most likely be the largest aggregate payout of dividends among all U.S. life insurers. Despite the headwinds Covid …
Buying whole life insurance for your children seems like a good idea. It acts like a savings account you set up for them that one day they can use and take advantage of the cash value in the policy. But there are several logistical hurdles to juvenile life insurance that you need to understand before …
Extended term insurance is a nonforfeiture option on a whole life policy that uses the policy’s cash value to buy term insurance for the current whole life death benefit for a specified period of time. The feature primarily seeks to help those who find themselves in a situation where the whole life premium is no …