Bought my first house with my cash value...

[DHK]

So no technically you are not getting the cash value + Death benefit ... but your Death benefit is higher because of the cash value of the PUA.

I'm going to nitpick because you're confusing two different terms.

The Face Amount is what begins the calculations of benefits for a policy. You see "face amount" only at the top of the illustration pages, but never in the tabular or numerical values.

The net death benefit is the last column in the illustration. Whatever it is in any given year, is what it is.

So, if we look at a given row of numbers - no matter which row it is:

Net Death Benefit (far right column) = Cash Values + Net Amount At Risk - Any outstanding loans.

 

[jboussea]

I'm going to nitpick because you're confusing two different terms.

The Face Amount is what begins the calculations of benefits for a policy. You see "face amount" only at the top of the illustration pages, but never in the tabular or numerical values.

The net death benefit is the last column in the illustration. Whatever it is in any given year, is what it is.

So, if we look at a given row of numbers - no matter which row it is:

Net Death Benefit (far right column) = Cash Values + Net Amount At Risk - Any outstanding loans.

I see what you're saying .. but to clarify the Face amount is the DB the first year of the policy. correct?

 

[DHK]

Correct.

Just remember that the illustration values begin AFTER the completion of the first year - because that will reflect PUA riders, etc. (Whatever each company calls them because Robert Barney doesn't know that each company trademarks their rider names that do the same thing).

Each policy and rider has its own benefit.

For example: I have an Assuritiy WL illustration for a man, age 35, standard underwriting, for $10,000 per year maximum funded using VER rider.
Face amount at the top of the illustration: $235,160
First row (after 1st year of premiums paid per illustration) net death benefit: $262,299

Which increases the value of paying ANNUAL premiums whenever possible, because THEN the policy would pay out that $262,299 should death occur in the first year.

 

[Robert Barney]

(Whatever each company calls them because Robert Barney doesn't know that each company trademarks their rider names that do the same thing).

Yes, it would be terrible if life insurance companies all used the same terms to describe various product functions. If they did that a consumer might actually have a chance to understand what they are buying.

It's always important to keep the suckers guessing.

Insurance gobbledygook

Ambiguous insurance policy terms? | Blumenshine Law Group