For example, Illinois Mutual Life Insurance Co. estimates that a $60,000 single premium whole life insurance payment would result in a $121,032 guaranteed death benefit for a 58-year-old woman.

A term life insurance policy is only in effect for a set amount of time, usually 10, 20 or 30 years. If you outlive the term, there's no death benefit paid out. But a return of premium policy (or ...

Further, VA is required to manage its life insurance programs in a cost-effective and actuarially sound manner (see, e.g., 38 U.S.C. 1920 (b); 1925 (d) (2)), and continuing to offer premium modes ...

Life insurance companies generally allow you to pay your premium past its due date for a specific period of time, which is called a grace period. Grace periods vary by provider, but they’re ...

A term life insurance policy stays in effect for a set period, commonly 10, 20, or 30 years. If you die while the policy is in effect, your policy beneficiaries receive a payment called a “death ...

In New York, a life insurance policy can be terminated due to a single late or missed premium payment, even when the policy has been in effect for many years and payments were always timely made ...

When you have a life insurance policy, you make regular payments over time to an insurance company or an employer. People you designate as beneficiaries receive an agreed-upon sum upon your death.

An indexed universal life (IUL) insurance policy also allows adjustment of the premium and death benefit. The cash value is tied to the performance of a major stock index, such as the S&P 500.