Sentences with phrase «dying policy holder»

Not exact matches

When it is time for either college or retirement, the policy holder can borrow money from the cash value and pay it back with the death benefit when they die.

Mortgage insurance is an insurance policy that protects a mortgage lender or title holder in the event that the borrower defaults on payments, dies or is otherwise unable to meet the contractual obligations of the mortgage.

Here My query is for example if any illness which might not have found through insurance company's medical tests, and the Policy holder also might not know even he had that problem, Lets say he died due to that problem.

3. - suppose policy life is 2 years and 9 month when policy holders dies... if nominee files for claim after 3 months... i.e. after 3 years of policy starting date.

Life insurance is simply a contract between an insurance company and a policy holder to provide a lump sum payment to a designated beneficiary when the policy holder dies.

Mortgage Life Insurance — an insurance policy specifically issued to pay off mortgage debt in the event the policy holder dies.

If the policy holder dies during the life of the contract, the beneficiary will receive the face amount of the policy.

Whether or not the policy holder dies, the face value of that policy is paid out in full.

But if the policy holder dies, and cause of death was related to a pre-existing medical condition, the policy may not pay out.

Is it just due to other policy holders investing, they would still need to pay out the cash eventually plus larger payouts if someone were to die.

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.

Who cares about 8 % unemployment, the flatlined economy, abandoning Americans to die in Bengahzi, Joe Biden's buffonery, fast & furious, national debt, USA credit downgrade, trillion dollar annual budget deficits, deliberate sabotage of the coal industry, ACORN, failed foreign policy (Iran with nuclear weapons, bowing to China, stiffing U.K and Israel, etc) abysmal people judgement (Biden again, plus H. Clinton, T, Geithner; K. Sebelius; E. Holder, etc), stopping the pipeline for Canadian oil, blocking drilling in US land, secret «kill lists», ObamaCare, attacking religious liberty, you didn't build that, unseemly chest - pounding over bin Laden (GM is dying but bin Laden is coming back to life), 20 years of Jeremiah Wright, failure of crony capitalism deals with Solyndra - NextEra — Ener1 — Solar Trust etc., over 100 rounds of golf in 1st 3 yrs, choom, the Chevy Volt, insisting the Ft Hood massacre was «workplace violence», secret college transcripts, «clearly the Boston police acted stupidly», disregard of the Simpson - Bowles budget recommendations (after commissioning their work), and lots more irrelevant stuff.

Should a policy holder die before the term is over, a beneficiary will receive a death benefit.

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.

The insurance company hopes this will be before the policy holder dies.

Death of a policy holder I have had an ongoing insurance claim from a car accident for over 3 years, but recently the policyholder died.

Life insurance is a contract between the policy holder and the insurance company where the insurer agrees to pay a sum of money to the beneficiary of the policy when the person who is insured dies.

If the holder of a life insurance policy dies before telling the beneficiary where his or her policy is, the beneficiary will need to find the policy in order to claim the benefit.

Accidental Death Coverage — An option on an insurance policy that will pay a beneficiary in the event that the policy holder should die due to accident related injuries.

Beneficiaries are usually the family members of the policy holder, who will receive the payment from the insurance companies when the policy holder dies.

If the policy holder dies within three years of buying the policy, then it is considered an early death.

In case the policy holder dies mid-tenure, the death benefits will be automatically transferred to the nominee.

The only time you may run into longer turnaround times when filing a life insurance claim is if the policy holder dies within the 24 month contestability period.

• Inform the insurance company that the policy holder has died.

Will that be enough to use against the insurance company if the policy holder dies within the 2 year period?

A life insurance policy is the primary means of covering the financial burden that occurs when the policy holder dies unexpected.

The incontestability clause states that if the policy holder made false or misstatements on the policy application and dies within the first two years, the insurance company may decline to pay the death benefits.

In this type of policy, there is usually an additional benefit paid when the policy holder dies due to an accident and not just natural causes or illness.

The life insurance company then pays out claims when the policy holders die.

Living benefits, or Accelerated Benefit Riders, are life insurance proceeds paid to the policy holder before he or she dies, helping to ensure that family members don't have to bear the entire financial responsibility.

A Term Life policy pays a benefit to the beneficiaries only if the policy holder dies during the time period for which the policy was initially contracted and has remained current on their annual or monthly premium payments.

While their loved ones will only be paid the policy's death benefit if they die during the term they selected, the policy holder will always have the opportunity to extend their coverage buy renewing.

If the policy holder dies, the beneficiary gets the Sum Assured.

In case the policy holder dies in between the term tenure, then the policy sum assured with bonus amount will be paid to nominee of the policy.

Here My query is for example if any illness which might not have found through insurance company's medical tests, and the Policy holder also might not know even he had that problem, Lets say he died due to that problem.

If the policy holder dies during the policy term, the nominee of the policy holder gets Sum Assured.

Means policy holder's life will not only be covered till the end of policy tenure, but till the policy holder dies.

But companies that issue life insurance actually do monitor a prospective policy holder's driving record because their history of driving, including accidents, DUI convictions and moving violations, can directly affect an individual's life expectancy and their risk of dying, all factors which influence the rate that an insurance company charges for a life insurance plan.

In case the policy holder dies, his / her nominee shall receive the payable amount over the stipulated duration.

Term Insurance is a type of life insurance only, a byproduct that implies financial coverage provided to the policy holder for a particular time period; if the insured dies during the term then death benefits are paid to the beneficiary but it ceases if one outlives the set term of the policy.

Endowment Plan Basic features: Sum assured paid to family if policy holder dies during the policy term, or if policy holder survives the entire policy term.

For example — If the policy holder dies suddenly in his sleep it is considered as natural death.

Extra Life Option (Accidental Death Benefit): In case policy holder dies due to an accident, death benefit is paid as lumpsum along with extra sum assured

The downsides of viatication for the policy holder are that he or she will not receive the full value of the policy and his or her beneficiaries will no longer receive the policy proceeds unless there happens to still be money left over from the viatical settlement when the policyholder dies.

Death benefit is paid to the nominee if the policy holder dies during the policy term.

In case, the policy holder dies, the market value of the invested fund or the sum assured whichever is higher is paid to the beneficiary of the policy.

If the policy holder dies, higher of the maturity sum assured 10 * annual premium or 105 % of premiums paid till death is paid to the nominee.

This claim will be rejected if the cancer is deducted within 180 days of buying or renewing the policy and if the policy holder dies off within 5 days from the date of diagnosis.

If the policy - holder dies within the grace period before the premium is paid, then the insurance provider will deduct the value of the premium from your death benefit.

Plan for a 2 - year waiting period for the death benefit, however, most provide a «return of premium» if a policy holder dies within the first two years.