Sentences with phrase «as a policy holder becomes»

It is also a major factor as a policy holder becomes capable of converting his existing policy to something else depending upon changing situations but there are certain restriction about the conversion cost, time period and also the converted amount.

Not exact matches

Once it became clear that the situation in the Outer Banks was not going to be quickly resolved, we made a decision as a company to step up and pay out claims for any of our CSA Travel Protection vacation rental policy holders affected by this event.

This is important to policy holders because without the appropriate level of financial backing to meet its obligations defined as pure losses, the company will quickly become insolvent and the policy holder is no longer guaranteed some or all of their benefits under their policy as a result.

It is important to note that some disability income riders will pay out only if the policy holder becomes disabled as a result of an accident, while others will pay for an insured's disability due to either an accident or an illness.

This type of arrangement can provide a substantial benefit for seniors who own policies that have become unnecessary, such as if the policy holder gets divorced or a spouse passes away.

Hello Liz, You are correct, as a California resident policy holder, in the very remote case of liquidation of Genworth, the California Health & Life Insurance Guarantee Association would pay as follows: Life insurance death benefit protection: 80 % of the policy death benefit up to a maximum of $ 300,000; However, as Chris mentioned in the article, our sincere expectation is that Genworth will not have to be liquidated nor become bankrupt, as we expect any number of other much better resolutions will occur.

Loss of physical policy document becomes painful as a policy holder has to file an FIR (First Information Report) at the police station, then inform the service provider and undertake a procedure to get another copy.

This type of policy may have lower initial expenses, but may become more expensive than issue - age pricing or community - rated pricing as the policy holder ages.

Also, if the life policy has the feature that enables the policy holder to withdraw a portion of the cash value gained by the policy, the amount becomes taxable as the income of the holder.

If they purchase a Private Medical Policy during their service period while targeting the Policy Amount factoring Inflation and in their post retirement eras; the premium becomes very heavy even though both the Policy holder as well as Insurer knows that while these Executives are in service, they shall only be utilising their Employer provided medical cover.