Sentences with phrase «basic death benefit of a life insurance policy»

A self - contained policy, or supplementary benefit to an existing policy, that provides an additional amount of money to the basic death benefit of a life insurance policy.

Not exact matches

A basic life insurance policy provides death benefits and is designed to cover loss of income, end - of - life expenses, funeral costs and other financial requirements your loved ones may have should you die unexpectedly.

At its most basic, life insurance provides a sum of money, called a death benefit, to the beneficiary of a life insurance policy upon the death of the insured.

However, the basic explanation of an AD&D rider is that if you die as a result of an accident, the life insurance company will double the original death benefit of your policy.

Sure, the shopping process can get a little complicated, especially if your health situation is a little complicated, but at the end of the day, term life insurance is made up of three basic components: your coverage (also known as your death benefit), your term (how long the policy lasts), and your premium (how much you're paying for it).

In its most basic sense, funeral insurance actually works in a similar fashion to most other types of life insurance in that a person pays a premium to an insurance company in exchange for the payment of a death benefit to a named beneficiary in the case of the insured's death while the policy is in force.

Term life insurance is going to be your most basic policy, with a defined premium and death benefit for a chosen number of years.

While these aren't for the vast majority of younger crowds, they are a simpler, cost effective way for seniors to buy a life insurance policy with a smaller death benefit to pay for basic funeral and funeral related costs.

However, the basic explanation of an AD&D rider is that if you die as a result of an accident, the life insurance company will double the original death benefit of your policy.

First, the basics of how term life insurance works: You buy a term life insurance policy for a death benefit of a specific dollar amount and a specific length of time — the term.

This type of life insurance offers a death benefit, with no cash value or investment build up — and because of its basic nature, term life insurance policies are usually very affordable.

The Basic Term Life Insurance Policy provides death benefit protection for 15 years — and throughout this period of time, the death benefit coverage will remain level.

Term life insurance provides the most basic form of life insurance coverage, as these policies provide death benefit protection, without any cash value or savings build up.

Accidental death benefit insurance is not usually included in a basic life insurance policy, so adding it to a standard policy as a rider will likely result in a somewhat higher premium; however, it will pay double the amount of the regular death benefit if the insured dies in an accident.

Term life insurance is the most basic type of policy available because it pays out death benefits only.

In its most basic sense, life insurance consists of a policy holder paying a premium to an insurance company and in return, the insurance company paying out a death benefit to the beneficiaries of the insured if and when the insured passes away — provided that the policy is in force at the time of the individual's death.

A basic life insurance policy provides death benefits and is designed to cover loss of income, end - of - life expenses, funeral costs and other financial requirements your loved ones may have should you die unexpectedly.

A supplementary life insurance policy benefit that provides a death benefit in addition to the policy's basic death benefit if the life assured sustains any bodily injury resulting solely and directly from an accident caused by outward, violent and visible means and where such injury solely and directly and independently of all other causes results in the death of the life assured within 180 days of its occurrence.

With the most basic type of term insurance, annual renewable term life, you pay premiums for one year, and the insurer only charges you one year's worth of death benefit coverage for your policy.

Life insurance may provide just basic death benefit protection (i.e. term life insurance) or it may provide a death benefit with an equity value, called a cash value, which is a cash reserve that builds up against the death benefit of the policy to cover the costs associated with paying out the future death benefit claLife insurance may provide just basic death benefit protection (i.e. term life insurance) or it may provide a death benefit with an equity value, called a cash value, which is a cash reserve that builds up against the death benefit of the policy to cover the costs associated with paying out the future death benefit clalife insurance) or it may provide a death benefit with an equity value, called a cash value, which is a cash reserve that builds up against the death benefit of the policy to cover the costs associated with paying out the future death benefit claim..

In the case of life insurance policies, if the death benefit is not 10 times the annual premium, it will not be eligible for tax exemption under Section 10 (10 D) or Section 80 C. «The basic sum assured, without any bonus, has to be 10 times the premium to be eligible for exemption under both sections,» says Sanjeev Gokhale, a Mumbai - based chartered accountant.

A basic life insurance policy provides death benefits and is designed to cover loss of income, end - of - life expenses, funeral costs, and other immediate financial needs should you die suddenly or unexpectedly.

In case of an unfortunate event of death of the Life Insured during the Policy Term, the sum of benefits will be payable to the nominee which is Basic Life Insurance Cover + Accrued Non-Guaranteed Annual Simple Reversionary Bonus + Non-Guaranteed Terminal Bonus accrued till death.