Sentences with phrase «joint life insured»

Joint Life - If any one of the 2 Joint Life Insured dies within the policy tenure, the prevailing Sum Assured as on the date of death would be paid out and the policy will automatically continue on the life of the other person with a reduced premium.

Not exact matches

Similar to adding an additional insured rider, you can purchase a joint life insurance policy with your spouse or anyone else that's financially tied to you.

While you can get coverage for this scenario through an additional insured rider, you may need a joint life insurance policy if the maximum death benefit for a rider isn't large enough.

Another use of joint last - to - die life insurance is when employing the insured annuity strategy.

While a first to die joint life policy pays out upon the death of the first covered person, a second to die life insurance policy will not pay out benefits until both of the insureds have passed on.

Sometimes referred to as joint life insurance, this type of coverage offers death benefit payout either upon the death of the first insured or the death of the second.

Survivorship life insurance can be more affordable than two individual policies because rates are calculated based on the joint life expectancy of the insured individuals.

Joint Life, Last Survivor with Return of Purchase Price - Retirement pension can be received by the insured till he / she dies and after that till the demise of the insured or the last survivor.

The Aegon LifeWoP on Critical Illness Joint Life Rider is available with the plan which promises the waiver of future premiums without affecting the original plan if either of the insured is diagnosed with any of the four covered critical illnesses.

Joint Life, Last Survivor without Return of Purchase Price - Annuity is paid till the demise of the life insured and after that till the death of spouse or the last surviLife, Last Survivor without Return of Purchase Price - Annuity is paid till the demise of the life insured and after that till the death of spouse or the last survilife insured and after that till the death of spouse or the last survivor.

Joint term plan, where along with the primary policyholder, his spouse or business partner's life is also insured

If it is a joint life plan, on the death of the first life insured, the sum assured is paid out and the plan continues as long as the second life is alive or till the end of the term, whichever is earlier.

For its joint whole life policy, the coverage is up to $ 20,000 of protection for ages 18 — 85, with coverage provided for two persons under one policy and one low premium payment providing permanent coverage for the insured and a spouse on a first to die basis.

A less popular structure you will see is Survivorship Universal Life Insurance and it looks very similar to a Joint Universal Life Insurance, but is a «last to die» policy and only pays out when both insured parties die.

Joint Life and Survivor Insurance Joint Life and Survivor Insurance provides coverage for two or more persons with the death benefit payable at the death of the last of the insureds.

Since your premium is based upon the joint life expectancy of both insureds — like you and your spouse — survivorship life insurance is usually less expensive per thousand dollars of death benefits than traditional universal life insurance.

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

Some life insurance contracts have joint insureds.

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.

Joint Term Life Insurance — Protection that allows both spouses to be insured under one policy instead of purchasing each spouse or partner separate coverage.

Financial planners opine that covers for homemakers are not really necessary because the core objective of joint life insurance is to replace the life insured's income for his / her dependents» benefit.

Riders Level Term Life Insurance Benefit Rider - Insured 1: 10105, 10405, A10105 Level Term Life Insurance Benefit Rider - Insured 2: 10125, 10425, A10125 Four Year Level Term Joint and Last to Die Survivorship Life Insurance Benefit Rider 10135, 10435, A10135 Waiver of Monthly Deduction Benefit Rider 10209, 10509, A10209

In case of a minor joint life, Legal Guardian is appointed by the Primary Life Insured / Policyholder at the time of taking the pollife, Legal Guardian is appointed by the Primary Life Insured / Policyholder at the time of taking the polLife Insured / Policyholder at the time of taking the policy.

You can opt for «Joint Life Protection» wherein one can opt two lives, yours (primary life insured) and your spouse (secondary life insured) under the same polLife Protection» wherein one can opt two lives, yours (primary life insured) and your spouse (secondary life insured) under the same pollife insured) and your spouse (secondary life insured) under the same pollife insured) under the same policy.

Sometimes if one spouse is having trouble getting life insurance, by insuring him or herself on a Joint Survivorship Life policy, they may be able to be insured more easily and for a lesser clife insurance, by insuring him or herself on a Joint Survivorship Life policy, they may be able to be insured more easily and for a lesser cLife policy, they may be able to be insured more easily and for a lesser cost.

Similar to adding an additional insured rider, you can purchase a joint life insurance policy with your spouse or anyone else that's financially tied to you.

It is a joint life insurance policy, however, it covers both people but will only pay out when both insured people have died, this is why it may be known as «second - to - die».

Variable Survivorship Life Insurance also is known as Survivorship life insurance is a type of joint life insurance policy that insures two peoLife Insurance also is known as Survivorship life insurance is a type of joint life insurance policy that insures two peolife insurance is a type of joint life insurance policy that insures two peolife insurance policy that insures two people.

As the insured, you can simplify this process in one of two ways: you can structure the policy as a modified endowment contract (MEC) to reduce the amount of pure risk in the contract; you can also do a joint life underwriting, where typically only one of the spouses has to be reasonably healthy for the policy to pass through underwriting.

A joint life insurance cover pays the sum assured on death of each of the life insured, so the death benefit payable is twice compared to a separate life cover.

The second type of joint term life insurance plan provides the death benefit on demise of each of the life insured.

Survivorship Life Insurance, also known as Joint and Survivor Life Insurance or Second to Die Life Insurance, are insurance policies that insure the lives of two people, typically a husband and a wife.