Sentences with phrase «graded death benefit period»

After the two - year graded death benefit period, if you die for any reason, the full face amount of the policy shall be paid to your beneficiary.

It's important to note that you will have a two year graded death benefit period.

Since there are no health questions and medical underwriting, it does mean that there is a mandatory graded death benefit period.

For this reason and this reason alone, it is usually best to try to first find a simplified or fully underwritten life insurance policy first, and then if none are available, move on to a guaranteed issue policy as a last resort (preferably one that has a short graded death benefit period).

After the two - year Graded Death Benefit period, if you die for any reason the full face amount of the policy shall be paid to your beneficiary.

To mitigate this risk, there is a mandatory graded death benefit period.

This is called the graded death benefit period.

These policies are cash value whole life insurance policies that come with a two or three graded death benefit periods.

The money spent on the premiums is guaranteed to be returned if you don't outlive the graded death benefit period.

Example: A senior life insurance plan providing $ 20,000 of life insurance coverage for a 10 year term with premiums of $ 300 and a 2 year graded death benefit period.

Again, most diabetics can get «first day coverage» and don't need to be subjected to the graded death benefit period.

For example, if the policy has a two - year graded death benefits period, if something were to happen to you within the first two years after you accept the policy, the insurance company will not pay the face value of the plan.

Worst case scenario, even if someone dies during the graded death benefit period, nothing has really been lost because one can simply consider the payments made as a «savings account» since this money will be returned to the designated beneficiary.

You will also need to ask each company if they have a graded death benefits period.

You should always consider the graded death benefits period before purchasing a burial insurance policy because it could have an impact on your family's financial future if something were to happen to you.

That means that if you purchase a guaranteed issue policy, you have a really good shot at outliving the graded death benefit period.

After the two - year Graded Death Benefit period, if the insured dies for any reason, the full face amount of the policy shall be paid to the beneficiary.

The graded death benefit period is the mandatory «waiting period» that you must outlive before your full policy will be paid to your beneficiaries.

The graded death benefit period is identical to AIG and Gerber at two years and includes the 10 % interest back if death occurs from natural causes within this period.

Regardless of which carrier you ultimately select and purchase a policy through, all guaranteed acceptance products feature a graded death benefit period.

It's not all bad news when it comes to discussing the graded death benefit clause, because most graded death benefit clauses will also include some type of reimbursement program should the insured die from natural causes during the graded death benefit period.

It should be noted that if an insured does happen to pass away from natural causes during the graded death benefit period, many insurance companies do have a policy of returning some if not all of the premium paid by the insured to his or her beneficiaries.

So... if you purchase a guaranteed issue life insurance policy, these «types» of causes of death would not be covered until the graded death benefit period expired.

A graded death benefit is a clause written into all guaranteed issue life insurance policy which will state that in order for your guaranteed issue life insurance policy to pay a death benefit for dying of «natural causes» you must first «outlive» the graded death benefit period.

Plus, most guaranteed issue life insurance policies will have some type of «refund» policy should an insured die of natural causes during the graded death benefit period.

These natural causes of death would not be covered by a guaranteed issue life insurance policy until the graded death benefit period expired.

The «length» of a graded death benefit period will vary depending on which insurance company you choose to purchase your guaranteed issue life insurance policy with, but in general, most graded death benefits will usually last 2 - 3 years.