Sentences with phrase «away during the terms of the contract»
If you don't pass away during the terms of the contract, your beneficiaries won't receive money on it.
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Now, the holder of the contract has the option to exercise his or her rights under the option contract to buy the underlying security at some point during the contract term, but can choose to walk away if the market didn't play out the way he or she anticipated.
Life insurance provides coverage on a specific person's life, and if that person passes away during the time the policy in In Force, there is a payout on the coverage, subject to all of the terms and conditions stated in the insurance contract.