Sentences with phrase «life insured after»

In this plan, the sum assured together with bonus is directly given to the nominee on the death of the life insured after the commencement of risk.

In the event of death of the life insured after the premium paying term, the Death Benefit payable is higher of 105 % of total premiums paid, 10 times the Annualized Premium, or 120 % of Sum Assured, irrespective of guaranteed cashback already paid.

In this child insurance plan the sum assured plus bonus is paid straight away to the nominee on death of the life insured after commencement of risk.

Not exact matches

In what life, after all, did that steward insure himself like that?

Claims are paid after death: You need to understand that claims from life insurance policy can only be made upon the death of the insured.

Option for benefits to continue even after the death of the life insured (when premium waiver rider is opted)

However, permanent life insurance can be structured as an employee benefit, as the policy, and its cash value, can be transferred to the insured after a certain number of years or at a particular milestone.

After all, we insure everything deemed valuable: life, health, home, car, and pets.

Second to Die Life Insurance insures two people and pays benefits only after the second person dies.

In general, life insurance companies that know an insured has passed, but can not locate the beneficiaries of the policy, are required to turn over the benefits of the policy to the state's unclaimed property office if the benefits are not claimed after a certain number of years.

As perhaps one of the most popular types of permanent life insurance, whole life, also known as ordinary life insurance, is a policy that provides lifelong coverage and will only come to an end after the death of the insured.

The top 10 best life insurance policies are true «life» insurance, since the first beneficiary of the policy is you — the insured — during your life, and not only after you have died.

After the grace period ends, your policy will lapse, you will no longer be insured and the life insurance company keeps all your premiums paid.

This works well for insured people if the term ends after most of their obligations — mortgage, student loans, children's education and so on — are no longer an issue and they don't need that extra level of protection that life insurance offers.

Moreover, all the outstanding premiums after the death date of the Life Insured are funded by the Insurer.

The 7 yr forward mortality experienced from Sep 30th 2006 (my estimate: 38 mortalities) works out around at 30 % of the initial lives insured (which I make 123 after adjusting for later policy - sales and 1 policy addition), whereas the CDC 2008 (white male / female) data predicts 59 % for the 7 yr forward mortality rate at the average age which was 84 in Sept 2006.

This type of policy insures the lives of two people, typically a married couple, and pays a death benefit after the death of the last - surviving covered person.

Most policies have a 2 - year contestability period, which means during the first two years after buying life insurance, if it is found your insurance policy was issued under misrepresentation, withholding of information by the insured or the owner, or similar reasons, the insurance company can declare your insurance policy and any associated riders void.

The amount of money paid or due to be paid when a person insured under a life insurance policy dies, after adjustments for any outstanding policy loans, dividends, paid - up additions or late premium payments (if applicable) are made.

Life insurance companies usually state that if the insured commits suicide within a specified period, usually two years, after beginning the policy, the company is not required to pay the death benefit.

The insured person suffers a complete inability to carry on a normal life as a result of and within 104 weeks after the accident and,

i. provides caregiver benefits payable in the circumstances described in section 13 if, as a result of and within 104 weeks after the accident, the insured person suffers a substantial inability to engage in the caregiving activities in which he or she engaged at the time of the accident even if the impairment sustained by the insured person is not a catastrophic impairment, but not for any period longer than 104 weeks of disability unless, as a result of the accident, the insured person is suffering a complete inability to carry on a normal life, and

The insured person suffers a complete inability to carry on a normal life as a result of and within 104 weeks after the accident, received a caregiver benefit as a result of the accident and there is no longer a person in need of care.

Whole - Life Plan — insurance company collects premium from the insured till the retirement or the term of the policy and pays the claims to the nominees only after the death of the insured person.

Life insurance companies usually state that if the insured commits suicide within a specified period, usually two years, after beginning the policy, the company is not required to pay the death benefit.

In case the insured has not paid policy premiums after the grace period, the life insurance policy lapses.

Level Death Benefit Whole Life means that the death benefit is the same even when the insured dies right after purchasing the policy (or many years later).

A life insurance company provides the insured with a grace period of 30 days, that is, a period of 30 days after the start date of the policy.

If you are applying for life insurance on someone else, after you submit the application, the person you want to insure will be contacted to verify the information.

If you're the beneficiary of a life insurance policy, you might think a check will arrive in the mail after the insured person dies.

Many senior citizens still see the apparent benefits of insuring their own lives and continue to do so well after turning 60.

Waiver of Premium is an additional provision (sometimes also called a rider) in most Life Insurance policies which allows to stop paying premiums after the insured person has been disabled for a given period of time (usually six months) due to an illness or an injury.

Claims made very soon after an insured party increases life insurance coverage will often alert an insurance company of potential fraud.

If an insured commits suicide more than 2 years after the policy came into effect, the life insurer legally has to pay the claim.

Graded benefit whole life will pay the face value provided that the insured does not die until after the two year waiting period.

After the life insurance policy has been located, the first step is to contact the life insurance company and let them know that the insured person has died.

The article provides a very good account of how life insurance companies scrutinize applications after an insured dies within the 2 - year contestability period for «material misrepresentations,» and then deny coverage to beneficiaries who are in financial need.

Recurring payout option also allows the beneficiary to receive a lump sum benefit instead of regular monthly or yearly payouts anytime after the death of the life insured.

Because the death benefit is paid out only after both insureds have died, there are very specific purposes that survivorship life insurance is typically used for that may include:

(iii) You further declare that you will notify in writing any change occurring in the occupation or general health of the life to be insured / proposer after the proposal has been submitted but before communication of the risk acceptance by the insurance company.

The insured receives 10 % of the sum assured every year for 5 years after the policy term in addition to a lumpsum amount that equals 50 % of the sum assured in addition to compounded reversionary bonus and terminal bonus, they have not been declared by Future Generali Life Insurance.

This works well for insured people if the term ends after most of their obligations — mortgage, student loans, children's education and so on — are no longer an issue and they don't need that extra level of protection that life insurance offers.

After this period of time has elapsed, the life policy can no longer be disputed by the insurer against any incorrect or inaccurate information regarding the insured.

The life insurance beneficiary, designated by the insured, gains control of the death benefit after the insured dies.

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.

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.

Additional Insured's Level Term to Age 95 Life Insurance Benefit Rider with Premiums Adjustable After 10 Years, used with Whole Life, policy series 09171, 09471, and A09171.

If the insured commits suicide after that period, then the life insurance company will still pay the death benefit.

Unlike traditional life insurance policies, which require an investigation into your health — including a paramedical exam — guaranteed policies don't require such in - depth research and applicants will often be insured after answering only a few questions.

Survivorship life insurance is whole life insurance insuring two lives, with proceeds payable after the second (later) death.The level premium system results in overpaying for the risk of dying at younger ages, and underpaying in later years toward the end of life.