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...
by Insurance | Apr 26, 2025 | Terminologies
In loans and credit cards, a late payment often triggers fees, interest rate hikes, or credit score damage. But what does a late payment mean when it comes to life insurance, particularly policies like Indexed Universal Life (IUL) or Whole Life? Life insurance doesn’t...
by Insurance | Apr 25, 2025 | Terminologies
When most people think of an installment plan, they imagine paying for a product or service in manageable chunks over time—like a car loan or phone bill. But in the realm of life insurance, especially permanent policies like Indexed Universal Life (IUL), the concept...
by Insurance | Apr 20, 2025 | Terminologies
In banking and credit, a cash limit refers to the maximum amount of physical or advanceable cash you can access from your credit line. But in life insurance, particularly with Indexed Universal Life (IUL) Permanent life insurance policies accumulate a cash value over...
by Insurance | Apr 18, 2025 | Terminologies
In credit cards and loans, a payment due date is a firm deadline: miss it, and you’ll face late fees, interest hikes, or credit score drops. While life insurance policies work a little differently, the concept of a due date still plays a critical role—especially in...
