Sentences with phrase «die life insurance policy also»

That is the case of Second to Die Life Insurance Policy also known as Survivorship Whole Life Insurance, designed to insure two people under one policy with one premium payment.

Not exact matches

A term life insurance policy offers coverage for a specified period of time, meaning that if you die during the term of the policy the beneficiary will receive the specified payout (also known as the death benefit or face value of the policy).

A term life insurance policy offers coverage for a specified period of time, meaning that if you die during the term of the policy the beneficiary will receive the specified payout (also known as the death benefit or face value of the policy).

In addition to ensuring that your loved ones are not left homeless, your life insurance policy can also replace the income that is lost when you die.

Also, a second - to - die life insurance policy may be beneficial where both spouses are active in the business and the surviving spouse will not need the death benefit.

For example, if the husband is required to pay support, he may also be required to obtain a life insurance policy and name his spouse as irrevocable beneficiary of the policy so that if he dies, the spouse will have sufficient funds for his or her support.

Term life insurance can also be used for final expense policies, but if you die after the term period has ended, your loved ones will receive no payout from your life insurance contract.

A survivorship life insurance policy, also known as second to die life insurance, is a joint permanent life insurance policy that covers two persons.

Term life insurance policies also offer a level death benefit; whether the policyholder dies five years into the term or 20 years into the term, the death benefit will be the same.

A second to die life insurance policy, also called survivorship life insurance, covers two individuals (usually a married couple) and delays the payment of the death benefit until the second person's death.

In addition to permanent life insurance policies, Phoenix also offers survivorship and first to die life insurance policies:

Second - to - die life insurance, also known as survivorship life, is a life insurance policy that insures two people most commonly a husband and wife.

The beneficiary can also be an organization or a charity that would receive the money from your life insurance policy when you die.

With survivorship life insurance, also known as a second - to - die policy, the policy doesn't pay out until both policyholders are deceased.

Traditionally issued as a permanent * policy (whole or universal life), second - to - die life can also be underwritten on a term life insurance policy form.

When it comes to joint life insurance, there's another important distinction to make: whether it's a first - to - die or a second - to - die, also known as surivorship, policy.

A smaller term policy will cost less, and joint life insurance (also known as first - to - die insurance) will benefit the surviving spouse.

Also commonly referred to as Joint Survivorship or Second - to - Die life insurance, this policy option can be an effective tool in meeting your clients» estate planning needs.

Sometimes there's a wrinkle in your life insurance policy: what if you die, but the life insurance beneficiary also dies?

You can also keep your life insurance policy in a safety deposit box at a bank, but be aware that this could cause problems when you die.

Also called classifications, a life insurance rating is essentially a measurement of how risky you are to insure, based on how likely you are to die during your policy's term.

Of course, many of us also buy insurance for medical care and life insurance policies that give our loved ones some financial comfort when we die.

A survivorship life insurance policy is one which where the death benefit is spread across more than one life; it is also called second - to - die life insurance because it does not pay out until after both insureds have passed.

A term life insurance policy offers coverage for a specified period of time, meaning that if you die during the term of the policy the beneficiary will receive the specified payout (also known as the death benefit or face value of the policy).

The Small Business Administration has also set out a series of tough guidelines for how a life insurance policy should be restructured in order to ensure full repayment of a loan if the borrower dies.

When adding an AD&D rider, also known as a double indemnity rider, to a life insurance policy, the designated beneficiaries receive benefits from both in the event the insured dies accidentally.

Also called «second - to - die» life insurance, this type of whole life policy insures two lives (typically spouses) and pays out upon the death of the second individual.

These types of policies are also often referred to as second - to - die or joint life insurance coverage.

A sizable life insurance policy will also help your family pay any debts after you die.

You should also be aware that if the cost of life insurance as a senior is prohibitive, you can potentially save thousands per year by purchasing a second - to - die policy, which only pays a death benefit upon the second death.

Additionally, most final expense life insurance policies will also have written language about what happens should someone die from natural causes during the «Graded Death Benefit Period».

Permanent life insurance — also known as whole, universal, and variable life policies — is a mix of term life insurance and an investment account that pays a benefit when you die, or pays the built - up cash value if you liquidate it before your death.

Also with a business with multiple owners there is a great demand for life insurance such as «First to Die» type policy which can be very important if something was to happens to a partner with no life insurance in the picture.

There are also joint and survivor, or last to die life insurance policies.

Change of the death benefit type, for owners of universal life insurance policies, can also be made that will either include or exclude in the proceeds any accumulated cash value when the insured person dies.

Also known asjoint survivor life insurance or second to die life insurance, this type of policy is typically used to pay estate taxes upon the death of the second insured.

One such tool to accomplish this goal is through the use of a second to die insurance policy, also known as survivorship life insurance.

Also known assurvivorship life insurance or second to die life insurance, this type of policy is typically used to pay estate taxes upon the death of the second insured.

Second - to - die life insurance, also known as survivorship life insurance, is an interesting and affordable policy option you may want to consider for estate planning purposes.

Survivorship life insurance DEFINITION: also known as a Second to Die policy, it is simply a type of joint permanent life insurance that pays out upon the death of both insured parties.

A provision in certain life insurance policies (also known as an accidental death benefit) that pays double the death benefit to a beneficiary if the insured dies in an accident or in another way as specified by the policy.

You also buy your term life policy online because you can look at a life insurance needs calculator and come up with a realistic amount of insurance which you will use to protect your family in case you should die too soon.Life insurance needs differ.

Also, a second - to - die life insurance policy may be beneficial where both spouses are active in the business and the surviving spouse will not need the death benefit.

You can also think of insurable interest as financial interest — if this person died, you would be put into financial hardship, unless you had a life insurance policy on them.

Second death insurance (also known as dual - life insurance, survivorship policy, and second - to - die insurance) is a type of life insurance policy that only pays the death benefit when both both of the joint policyholders pass away.

A variety of permanent life insurance plan (which doesn't expire, unlike term life insurance), this sort of policy covers your family if you die during your working years, but also has the ability to build savings that can be drawn upon later in life.

Moreover, it provides survivorship life insurance, also known as second - to - die insurance, which insures both client and spouse under one policy, with earnings payable after the second death.

Most guaranteed life insurance policies also provide a graded benefit in the first two years the policy is active — meaning that if a policyholder dies prior to that milestone date, the company will simply refund the annual premium, plus interest on the payments.

Couples are also offered the option of a joint second - to - die whole life insurance policy, which is typically used to leave an inheritance or help dependents to cover estate taxes.

A typical term life insurance coverage policy also guarantees a designated dying benefit.