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

The Legalese «The Acceleration of Death Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.»

Benefit: For life insurance, it is the amount of money specified in a life insurance contract to be paid to the beneficiary upon the death of the insured.

Another name would be «death» insurance, since the focus is on providing for the insured's beneficiary upon the death of the insured.

If an estate is larger and therefore vulnerable to federal or state estate tax exposure, an irrevocable trust may be used to provide liquidity for the estate without being subject to estate taxes by owning the policy and being designated as the beneficiary upon the death of the insured.

It provides cash to the beneficiary upon the death of the insured.

When you have a final expense insurance policy, a death benefit is paid out to a named beneficiary upon the death of the insured.

The Legalese «The Acceleration of Death Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.»

Most annuity payments cease upon the death of the annuitant (this is what makes them different from regular life insurance policies, which generally make a payment to a beneficiary upon the death of the insured).

The death benefit is the face amount or coverage amount of the policy that will be paid to the named beneficiary upon death of the insured (less any outstanding policy loans and interest).

Return of premium (ROP) is a type of life insurance policy that returns the premiums paid for coverage if the insured party survives the policy's term, or includes a portion of the premiums paid to the beneficiary upon the death of the insured.

The term «face value» in life insurance refers to the death benefit that is paid to beneficiaries upon the death of the insured.

Life Insurance is an agreement between insurer and insured where insurer will pay a lump sum amount to the beneficiaries upon the death of the insured against the premium paid.

While life insurance has evolved to become a savings, investment, and tax optimization tool, the original and primary purpose is to provide a death benefit to beneficiaries upon the death of an insured.

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.

If an estate is larger and therefore vulnerable to federal or state estate tax exposure, an irrevocable trust may be used to provide liquidity for the estate without being subject to estate taxes by owning the policy and being designated as the beneficiary upon the death of the insured.

A positive aggregate performance could offer increased financial protection to the beneficiary upon the death of the insured.

DEFINITION of Life Insurance: Life insurance is a contract between the owner and the insurer, where the insurer agrees to pay a death benefit to the beneficiary upon the death of the insured.

Death Benefit — The amount of money paid out to the beneficiary upon the death of the insured person.

Life insurance is a contract between an insurer and a policyholder in which the insurer guarantees payment of a death benefit to named beneficiaries upon the death of the insured.

For a general life insurance policy, the maximum amount the insurer will pay is referred to as the face value, which is the amount paid to a beneficiary upon the death of the insured.

The initial amount of life insurance that will be payable to the named beneficiary upon the death of the insured.

Not exact matches

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.

Life insurance classified as return of premium (ROP) features a return of premiums paid to purchase coverage if the insured outlives the term of the policy, or payment of some portion of premiums paid to the beneficiary upon the insured's death.

Beneficiary: the beneficiary is the person or entity that receives the life insurance benefit from the insurer upon the death of tBeneficiary: the beneficiary is the person or entity that receives the life insurance benefit from the insurer upon the death of tbeneficiary is the person or entity that receives the life insurance benefit from the insurer upon the death of the insured.

You make payments on the policy and, in return, the insurance company provides a lump - sum payment, also called a death benefit, to the beneficiaries you have chosen upon the death of the insured.

The insurance company pays out a lump sum death benefit to the beneficiary of the policy upon the death of the insured.

The universal life insurance coverage extends to two people and pays the death benefit to the beneficiary upon the death of the second insured.

The cash value policy pays out a lump sum cash benefit upon the death of the insured for the benefit of the life insurance beneficiary.

Beneficiary: A person (s) designated by the policy owner to receive the proceeds of an insurance policy upon the death of the insured.

The definition of life insurance death benefit is the amount of money payable to the beneficiary or beneficiaries listed on a life insurance policy upon the death of the insured, minus any policy loans.

Upon the death of the insured, the insurance company pays a death benefit to the beneficiary.

In return for these premiums, the insurance company will provide a death benefit to a named beneficiary upon proof of the insured's death and a policy cash value.

Beneficiary A beneficiary is the person (s) selected by the policy owner to receive the life insurance payments upon the death of tBeneficiary A beneficiary is the person (s) selected by the policy owner to receive the life insurance payments upon the death of tbeneficiary is the person (s) selected by the policy owner to receive the life insurance payments upon the death of the insured.

The proceeds or benefit that is payable to the beneficiary of a life insurance contract upon the death of the insured.

In many ways, Final expense insurance works like any other type of life insurance policy in that a premium is paid for the coverage, and then upon the insured's death, the proceeds are paid out to a named beneficiary.

Upon the death of the insured, the lump sum death benefit is paid income tax free to the policy beneficiary.

Beneficiary: A person (s) designated by the policy owner to receive the proceeds of an insurance policy upon the death of the insured.

Upon the death of the insured, the beneficiary will receive the proceeds of the life insurance taxfree.

Beneficiary The individual or entity designated to receive a life insurance or annuity death benefit upon the death of the insured or the annuitant.

In exchange for paying premiums on a policy, the insurance company provides a lump - sum payment (far in excess of what you paid in), known as a death benefit, to beneficiaries upon the insured's death.

Death Benefit Life insurance policy proceeds payable to the beneficiary upon proof of the insured's dDeath Benefit Life insurance policy proceeds payable to the beneficiary upon proof of the insured's deathdeath.

Upon the death of the insured, the designated beneficiaries receive the death benefit less the amount paid out under the long - term care rider.

(Upon the insured's death, the remainder of the death benefit will be paid out to the policy's named beneficiary).

Death Benefit: The dollar amount of coverage that is paid to the designated beneficiary (s) of a life insurance policy upon the insured's dDeath Benefit: The dollar amount of coverage that is paid to the designated beneficiary (s) of a life insurance policy upon the insured's deathdeath.

The insurance company pays a cash amount (called the coverage amount or death benefit) to the beneficiary (s) named in the policy upon the death of the insured person named in the policy.

Upon the unfortunate death of the insured, the beneficiary can rightly claim the amount invested by the insured.

Highlights of term insurance plans • Upon the death of the insured before the end of the Policy Term, the Death Sum Assured will be paid as the death benefit to the beneficdeath of the insured before the end of the Policy Term, the Death Sum Assured will be paid as the death benefit to the beneficDeath Sum Assured will be paid as the death benefit to the beneficdeath benefit to the beneficiary.

Death Benefit is the sum paid to the beneficiary upon the insured's death irrespective of the cause of dDeath Benefit is the sum paid to the beneficiary upon the insured's death irrespective of the cause of ddeath irrespective of the cause of deathdeath.

At the same time, it gives coverage for the insured party's family, which means that beneficiaries will receive proceeds from the insurance claim upon death of the policy holder.

The accumulated cash value of the policy will be paid out to beneficiaries upon the insured's death.