Sentences with phrase «advanced death benefit payment»

Life insurance with living benefits have coverage for Critical and Chronic illnesses and also an advanced death benefit payment for people that were given the bad news that they were going to pass on within the next six months.

Later, Ohio State Life was the first to advance death benefit payments to sustain the life of the policy holder (which is referred to as living benefits).

In 1971, another predecessor of Americo Life Insurance Company, Ohio State Life, was the first insurer to advance death benefit payments to sustain the life of a policyholder.

Not exact matches

It was designed to add flexibility to the payment of specified claims by advancing part of the death benefit if the insured: (a) has been confined to an eligible nursing home for at least 6 months and is expected to be permanently confined; (b) is terminally ill and has a life expectancy of six months or less; or (c) requires an organ transplant and would have only six months or less to live without the transplant procedure.

Accelerated Death Benefit (Included) Beginning in policy year 3, the rider provides for an advance payment of up to 50 % of the death benefit if the insured is diagnosed by a physician to have a life expectancy of 12 months or Death Benefit (Included) Beginning in policy year 3, the rider provides for an advance payment of up to 50 % of the death benefit if the insured is diagnosed by a physician to have a life expectancy of 12 months oBenefit (Included) Beginning in policy year 3, the rider provides for an advance payment of up to 50 % of the death benefit if the insured is diagnosed by a physician to have a life expectancy of 12 months or death benefit if the insured is diagnosed by a physician to have a life expectancy of 12 months obenefit if the insured is diagnosed by a physician to have a life expectancy of 12 months or less.

The loan is considered an advance payment of the death benefit.

In 1971 Ohio State Life was the first company to offer an advance on death benefit payments so that the policyholder could sustain their life.

If the policyholder suffers from a chronic, terminal, or critical illness, the insurer will advance between 25 percent and 95 percent of the death benefit to the policyholder (i.e. paid out in a lump sum or monthly payments).