by Insurance | May 7, 2025 | Terminologies
When people hear the term late payment fee, they typically think of credit cards, loans, or utility bills. But did you know that late payments can also have serious consequences in the world of life insurance—especially when dealing with flexible premium products like...
by Insurance | May 6, 2025 | Terminologies
The term prepayment penalty is most commonly used in lending—when borrowers are penalized for paying off a loan early. But in the world of life insurance, especially when policies are used as financial tools, a similar concept emerges under a different name: penalties...
by Insurance | May 4, 2025 | Terminologies
In lending, the concept of early repayment usually refers to paying off a loan before its scheduled end date—often with the goal of saving on interest. But how does this idea translate to life insurance, especially with cash value policies like Indexed Universal Life...
by Insurance | May 3, 2025 | Terminologies
In traditional loans, a repayment schedule outlines the fixed timeline and amounts due until the debt is fully paid. But in the world of life insurance—particularly with policies that accumulate cash value like Indexed Universal Life (IUL)—repayment schedules are far...
by Insurance | Apr 28, 2025 | Terminologies
In the world of credit cards and loans, the term minimum payment refers to the smallest amount you’re required to pay each month to keep your account in good standing. But what does “minimum payment” mean when applied to life insurance—especially policies like Indexed...
