Sentences with phrase «accelerated death benefit of your policy»

The accelerated death benefit of your policy is there so that in the event of these unfortunate medical situations your family will be prepared for the unexpected expense and lost income that accompany the grief and heartache they must endure.

Not exact matches

Term life insurance policies are quite cheap and can come with a variety of riders offering such assistance as disability income, waiver of premiums, and an accelerated death benefit in the case you become permanently disabled.

Many life insurance policies come with the option of accelerating a portion of your death benefit if you become terminally or chronically ill.

Banner Life's term policy includes an accelerated death benefit rider and allows an individual to cash out up to 75 percent of the death benefit if you are diagnosed with a life expectancy of twelve months or less.

Accelerated death benefits are also known as «living benefits» since you are able to use portions of your policy's death benefit while you are still alive.

A terminal illness rider, also known as an accelerated death benefit rider, offers you the option of receiving a percentage of your policy's payout immediately in the case you're diagnosed with a terminal illness.

Use of the accelerated death benefit with permanent policies may increase countable assets if the amount advanced exceeds the cash surrender value.

You can request to accelerate between $ 20,000 and $ 250,000 (up to 100 % of the policy's death benefit).

If your policy has an accelerated death benefit rider, a portion of the proceeds can be accessed if you become terminally ill or confined to a nursing home.

Optional Riders: Additional benefits such as Children's Term Insurance, Grandchild Term Insurance, Accidental Death and Dismemberment, Waiver of Premium, and Accelerated Living Benefit may be added to some policies as riders.

Many life insurance policies come with the option of accelerating a portion of your death benefit if you become terminally or chronically ill.

A terminal illness rider, also known as an accelerated death benefit rider, offers you the option of receiving a percentage of your policy's payout immediately in the case you're diagnosed with a terminal illness.

Lifestyle Income Solution — Starting at age 85, you can accelerate up to 10 % of the death benefit per year tax free up to your basis in the policy.

So, if you had a $ 500,000 death benefit and your insurer capped the amount you could accelerate at «the lesser of $ 250,000 or 75 % of the policy's face value», you could request up to $ 250,000 while still living.

The right of a judgment debtor to accelerate payment of part or all of the death benefit or special surrender value under a life insurance policy, as authorized by paragraph one of subsection (a) of one thousand one hundred thirteen of the insurance law [* see below], or to enter into a viatical settlement pursuant to the provisions of article seventy - eight of the insurance law, is exempt from application to the satisfaction of a money judgment.

The term «proceeds and avails», in reference to policies of life insurance, includes death benefits, accelerated payments of the death benefit or accelerated payment of a special surrender value, cash surrender and loan values, premiums waived, and dividends, whether used in reduction of premiums or in whatever manner used or applied, except where the debtor has, after issuance of the policy, elected to receive the dividends in cash.

If a policy of insurance has been or shall be effected by any person on his own life or upon the life of another person, the policyowner shall be entitled to any accelerated payments of the death benefit or accelerated payment of a special surrender value permitted under such policy as against the creditors, personal representatives, trustees in bankruptcy and receivers in state and federal courts of the policyowner.

You already you know you want term life insurance, but there are other policy features you may be considering, like an accelerated death benefit or a return of premium policy.

Accelerated death benefits are also known as «living benefits» since you are able to use portions of your policy's death benefit while you are still alive.

Banner Life's term policy includes an accelerated death benefit rider and allows an individual to cash out up to 75 percent of the death benefit if you are diagnosed with a life expectancy of twelve months or less.

SGLI also offers the option of accelerating up to 50 % of your policy's death benefit (receiving it while still alive) if either you or your spouse becomes terminally ill.

With this policy, you can only accelerate death benefits if you get a terminal illness and the amount is limited to $ 250,000 or 75 % of your death benefit (whichever is smaller).

The standard policy includes an Accelerated Death Benefit, which pays a portion of the settlement while the policyholder is still alive.

Accelerated Death Benefit for Terminal Illness or Nursing Home Confinement Rider is the face amount of your policy minus a 6 % charge.

Mutual of Omaha makes up for it by including high benefits for the accelerated death benefit, which allows you to take money out of your policy to pay for charges related to a terminal illness.

These accelerated benefit riders would give a portion of the death benefit to the policy owner prior to the death of the insured, based on the requirement that the insured was terminally ill with less than 12 months to live.

LTCAccess Rider — A great supplement to long term care policy, the LTCAcess rider allows you to accelerate a portion of your death benefit so you can pay for expenses from long term care covered under the rider, including both home and facility care.

Accelerated death benefits — allows a terminally ill person to collect a significant portion of his or her policy's death benefit while that person is still alive

Other policies have an option of an accelerated death benefit that can be drawn on to pay for long term care coverage.

The Accelerated Death Benefit rider is free of charge for all applicants where it can be applied, and additional riders are made available for those looking to protect their Children, as well, and for those who want to protect their policy from non-payment during disability.

An accelerated underwriting life insurance policy that provides term lengths of 10 and 20 years and provides a lump sum death benefit to your beneficiary if you do not outlive the term.

All approved claims will receive a payment guaranteed to be 40 % of the death benefit amount accelerated (for example, 40 % of $ 50,000 = $ 20,000), less any amounts needed for debt repayments — regardless of the type of specified medical condition event, policy age, gender or severity of illness.

Both the indexed universal life insurance and the term life insurance policies typically include an accelerated death benefit so that a large portion of the death benefit can be paid to the policyholder in the event of a terminal illness.

Unlike basic term life policies without additional benefits, this product includes three types of living benefits through accelerated death benefit riders, and a premium waiver during unemployment.2 These riders offer additional flexibility and coverage for a number of unexpected events.

The request for a benefit must specify the amount of the policy death benefit to be accelerated, subject to the terms in the rider.

SBLI offers a full suite of whole life insurance policy riders, such as Accelerated Death Benefit, Child Term Rider, Guaranteed Purchase Option and Waiver of Premium.

An accelerated death benefit usually pays some of a policy's death benefit before the insured dies.

It quite literally will accelerate a portion of the death benefit of your life insurance policy to you, even when you're still alive.

A male client purchased a $ 500,000 North American policy with a chronic illness accelerated death benefit rider a couple of years ago

A final election occurs if all of the available death benefit in the policy is accelerated, excluding the residual death benefit.

The policy includes an accelerated death benefit, which provides up to $ 500,000 or 75 % of the face amount in advance if the insured is diagnosed with a qualifying terminal illness.

Most policies that provide accelerated death benefit for chronic illness, pay out 2 % of the death benefit per month.

There is also the option of adding an accelerated death benefit rider to the policy.

Effect on policy: After payment of an accelerated death benefit, the policy face amount will be reduced proportionally to the amount you chose to accelerate.

Also, Accelerated Death Benefit Riders where you can collect up to 50 % of your policies face amount.

Once an accelerated death benefit has been paid, the election to request such accelerated death benefit can not be revoked.Consent of an assignee or irrevocable policy beneficiary may be required.

Critical Illness Payment: Any accelerated death benefit payment a policy owner receives will be less than the amount of the death benefit that is accelerated — because the benefit is paid prior to the insured's death.

Most indexed universal life policies also have accelerated death benefits in the event of chronic and critical illnesses.

With the accelerated death benefit, if you are diagnosed terminally ill then your life insurance policy will pay out 25 % up to 80 % of the face amount depending on the specific carrier and the face amount of your policy.

On a life insurance policy, the rider can be waiver of premium, guaranteed insurability, disability income, accidental and accelerated death benefit.