What Is Surrender Value

Surrender value refers to the amount a life insurance contract is worth after any charges and fees from the insurance company, if the contract is fully surrendered (terminated early with value remaining). This is not necessarily the same as the cash value, which is calculated before any fees are taken Read More »

Reinstatement Of Life Insurance

Reinstatement is the term for making a life insurance policy active again after it has lapsed.  Reinstatement only happens after the grace period has ended, and the life insurance contract is no longer in force.  The ability to reinstate a policy is not guaranteed by law, so the availability of Read More »
owner of life insurance policy

What Is an Owner’s Role in a Life Insurance Policy?

The owner of a life insurance policy is the person who has control over all of the policy's rights. These rights include the right to change beneficiaries, the right to transfer ownership to another party, and the right to make material changes to the life insurance policy. Material changes may Read More »
Universal Life Insurance

Universal Life Insurance

Universal life insurance is a permanent form of life insurance like a whole life insurance policy but is meant to provide the ability for a  higher internal rate of return on the policy like a variable universal life insurance policy, but without bearing the risk of market exposure. A universal life Read More »

Life Insurance Health Rating

Almost every insured person in a life insurance contract has gone through the underwriting process of an insurance company.  The purpose of underwriting is to attempt to assess the probability that the insured will die at a normal or premature age, and what the life expectancy of the insured person Read More »

Life Insurance Surrender

A surrender is a full cancellation of a life insurance policy.  You are allowed to surrender your policy at any time.  A surrender does not affect your credit score, and a surrender will not affect your ability to get a new life insurance policy in the future (but changes in Read More »

Cash Value Of A Life Insurance Policy

Most people know about the death benefit paid by life insurance policies, but many people are not aware that life insurance policies can also accrue a cash value over the lifetime of the policy.  This cash value can be withdrawn or loaned against with a loan from your life insurance Read More »