Sentences with phrase «full death benefit payments»

Having a policy with a level benefit simply means you are entitled to a full death benefit payment from the day you're approved.

Not exact matches

Fixed annuities offer a standard death benefit of a lump sum payment or withdrawals under an income option of the full value of the contract at time of death.

The selling policyowner receives an upfront cash payment in exchange for transferring ownership of the life insurance policy — typically more than any existing cash value but less than the policy's full death benefit — and the investor as the new owner then continues to make the ongoing / annual premium payments.

It comes in two basic flavors: «immediate death benefit» plans, which provide full benefits to your loved ones upon your death no matter how long you've owned the policy, and «graded benefit» plans, which offer partial payments if you've held the policy for less than two or three years and provide full payment if you've held it longer.

If you die on active duty, SGLI will allow your family to receive an extra $ 150,000 payment up to the maximum allowed coverage of $ 400,000, so you have the option to pay for a lower coverage amount and still receive the full $ 400,000 death benefit depending on the circumstances.

If you end up with a graded death benefit plan, this means you will not be receiving full payment within the first few years of the contract.

This usually results in returned premium payments, plus possible interest, but the full death benefit can be denied.

Both would include a modified death benefit, where only a partial payment would be delivered if death occurs in the first few years, with the exception being accidental death where it would pay in full regardless of time frame.

If the beneficiary sets a time to stop receiving interest payments and is alive when that time comes, they will receive the full death benefit of the policy then.

The new owner takes over premium payments and receives the full death benefit when the insured dies.

When he dies, the full death benefit is paid immediately, and confidentially to his charity — a much larger gift than he would have made if donating the cash equivalent of his premium payments.

The selling policyowner receives an upfront cash payment in exchange for transferring ownership of the life insurance policy — typically more than any existing cash value but less than the policy's full death benefit — and the investor as the new owner then continues to make the ongoing / annual premium payments.

With immediate annuities, the contract must have a specific rider that offers a death benefit to pay the beneficiaries the remaining balance of an annuity if a designated number of payments were not made during the annuitant's life — meaning he died prior to realizing the full benefit.

In case of payment of all the premiums for at least first three policy years and then premiums are not paid, the risk cover for full Death Benefit is still available for a period of one successive year (Auto Cover Continuation Period) from the due date of first unpaid Premium.

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