Sentences with phrase «balance upon the death of the insured»

It is important to note, though, that any amount of unpaid cash balance upon the death of the insured will be charged against the amount of the death benefit that is paid out to the policy's beneficiary.

These policies are designed to pay off ones mortgage balance upon the death of the insured.

Not exact matches

If this rider is triggered and paid, the balance of the death benefit would be paid to the beneficiary upon the death of the insured.

The loan does not have to be repaid, but upon the death of the person insured, the loan balance, including accrued interest, is deducted from the indemnity payment.

Upon the ultimate death of the insured the balance of the death benefit was paid to the beneficiary.

Mortgage credit life insurance is designed to pay off the balance of a home mortgage upon the death of the insured party.