Sentences with phrase «die policy covers»

A First - To - Die policy covers both spouses.

That means that in a first to die policy covering two spouses, there might be no tax when the benefit is paid out, but the benefit would then considered part of the second person's estate when he or she passes away.

Not exact matches

Many policies cover funeral costs, and they can also work as a bridge in case a spouse dies and there's a need to adjust to a reduced income level.

In those cases, a term life insurance policy can cover that debt should you die before it's zeroed out, she said.

However, the policy only pays a death benefit if you die due to a covered accident, such as a plane crash or sudden fall.

This means that if you die due to an accident while covered under a life insurance policy with an AD&D rider, your beneficiaries could receive up to twice your face amount — one payout equal to your face amount from the life insurance half of the policy, and another payout from the AD&D rider.

Designed to provide a survivorship life insurance solution for clients seeking strong protection and accumulation guarantees, this new second - to - die whole life product can cover two lives more cost effectively than two comparable individual policies.

For example, if you purchased a 20 - year $ 500,000 level term policy, should you die at any point during the 20 year term due to a covered event (and have paid all premiums) the beneficiary would receive a $ 500,000 payout.

That conflict has been covered extensively in international news outlets, and had actually been thought to have died down under Goodreads» policy change that said inflammatory reviews that attack the author will be deleted from the site.

A valid claim includes written evidence that the insured died because of a covered reason while the policy was still in force.

A basic life insurance policy provides death benefits and is designed to cover loss of income, end - of - life expenses, funeral costs and other financial requirements your loved ones may have should you die unexpectedly.

However, the policy only pays a death benefit if you die due to a covered accident, such as a plane crash or sudden fall.

The basic idea behind first to die policies is it covers the life of two people.

This is a policy which insures your payment, namely, covers your payments in the event that you, the borrower, may die or be unemployed, disabled or ill.

A term policy covers the insured for a stated period of years and pays a benefit only if the insured dies within that term.

In addition, some life insurance policies will help cover unpaid medical bills if a child dies.

If the person covered by the life insurance policy dies within that term, the beneficiary (in this case, their parent) will receive a death benefit.

Luckily, there's a really easy way to get around all of this trouble: an affordable term life insurance policy that covers your student loan debt if you die.

However, if you don't have your own savings or enough cash to make mortgage payments until you can sell the house — or if you and your child live in the home you've purchased together — it might make sense to buy a life insurance policy for your child to cover the remainder of the mortgage should they die.

This means that if you die due to an accident while covered under a life insurance policy with an AD&D rider, your beneficiaries could receive up to twice your face amount — one payout equal to your face amount from the life insurance half of the policy, and another payout from the AD&D rider.

Terminal illness cover is designed to cover you if you die or are diagnosed as being terminally ill during the policy term, and in the opinion of your hospital consultant and our medical officer, the illness is expected to lead to death within 12 months.

The policy reimburses owners of stolen animals, and pays a death benefit if an animal dies during transport or other covered events.

An effective and relatively inexpensive life insurance policy that covers two people but only pays on the last survivor's death is called joint last - to - die life insurance.

Life insurance rates are set largely based on the risk of the policyholder dying while covered by the policy.

Common services that may have fees include: 1) Insurance to cover your payments if you become disabled, if you die, become unemployed, or if you encounter other situations outlined in your insurance policy.

With last - survivor or second - to - die life insurance, the death benefit is paid after the second person covered under the policy dies.

That expiration date is one of the reasons term is the most affordable type of life insurance: You're more likely to die the older you get, so if an insurance company doesn't have to cover you while you're in your 70s and 80s — when you're more likely to pass away — it can offer cheaper policies.

Burial insurance is a type of funeral expense life insurance policy designed to cover the cost of your funeral or cremation expenses when you die.

If you die during the policy term your insurer will pay the calculated amount of cover at that time.

If you die during the policy term your insurer will pay the amount you are covered for.

Riders are modifications to your overall life insurance policy that turn a basic life insurance policy — you pay premiums and a death benefit is paid out if you die — into something that covers more exotic circumstances.

For many, a hybrid policy is a great way to go because it covers life insurance and long term care, so either it pays out when you die or when you need help with long term care costs.

Term life insurance is a kind of life insurance policy that covers you for a set period of time — not your whole life — and pays out a lump sum of money to your beneficiaries if you die while the policy is in effect.

There are two main types of insurance: Term and Permanent, whereas term insurance is covering the risk of a policy holder dying for a predefined time period, say 20 years, and permanent insurance provides lifetime coverage.

For example, many healthy insurance policies will cover the purchase price of your dog if it dies prematurely.

This policy alleviates the burden on the covered entity from having to determine whether or not the person has died and if so, how long ago, when determining whether or not the information can be released.

Term policies pay death benefits — if you die during the period covered by the policy, proceeds will go to your beneficiaries.

This rider offers an accidental death benefit that is equal to the policy's face amount — and pays out in addition to the whole life insurance benefit if the insured dies as the result of a covered accident.

This type of policy has a very specific purpose... to cover the costs incurred when the insured dies.

Should Bob somehow die before the age of 40, the terms of the policy cover him and pay a financial benefit.

With AD&D, a policy payout will be made if the insured dies as the result of a covered accident.

Because the people covered by the policies will die at different times, the provider will have a stream of cash flows (from the death benefits) coming to it over time.

If you're not completely sure what term insurance means, then to put it simply, it is a life insurance which solely covers death benefits and which is only payable if you die during the life of the policy.

Survivorship / Second - to - Die Life Life Insurance covers two individuals (usually a married couple), and pays it's death benefit after the passing of the second policy holder.

With term life insurance, benefits are paid if the policy owner dies during the period covered by the policy.

Basically, it's a policy that covers two people — usually a married couple or life partners — and the second to die will receive the benefit after the first death.

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

This policy covers an individual from the time they get the policy until they die.

• Accidental Death Benefit Rider — If you should die as a result of a covered accident, additional death benefits are payable equivalent to the face value of the policy (minimum amount must be $ 25,000) and will be payable to a maximum of $ 250,000.

If you die within the covered period, the policy pays a death benefit.