A provision within some life insurance policies that allows the policyholder to receive a portion of the death benefit in advance under specific circumstances, such as terminal illness.
The amount paid to the beneficiaries upon the policyholder's death. In variable life policies, this amount can vary based on account performance.
The face amount is the amount of money stated on a life insurance policy that will be paid upon the insured's death or at policy maturity.
Comprehensive guide on Guaranteed Minimum Death Benefit (GMDB), its historical context, types, key events, formulas, importance, examples, related terms, comparisons, interesting facts, and more.
Level Term Insurance offers a fixed premium and death benefit for the specified term without optional renewability.
A comprehensive overview of Accident Insurance, covering its definition, types, applicability, historical context, and related terms.
The Face Amount, or Face of Policy, represents the sum of insurance provided by an insurance policy, payable at the time of death or policy maturity.
An Indexed Life Insurance policy has a face value that varies in accordance with a prescribed index, such as the Consumer Price Index (CPI), offering benefits similar to ordinary whole life insurance.
A comprehensive overview of life insurance, including types, benefits, and key considerations.
In finance, the principal sum refers to the amount owed under a debt instrument, excluding interest; in insurance, it indicates the amount payable to the beneficiary under a policy, such as the death benefit.
Variable life insurance is a policy where the face value fluctuates based on the investment performance of a separate account.
Explore the details of adjustable life insurance, including its definition, pros and cons, and how it compares to universal life insurance. Learn about the flexibility it offers in altering premiums and death benefits.
Understanding how death benefits from life insurance policies, annuities, or pensions are taxed and who is eligible to claim them.
A detailed exploration of the level death benefit in insurance, how it functions, its advantages, and a practical example.
