Sentences with phrase «benefits upon the death of the 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.

Life insurance protection comes in many different forms, but the primary purpose of any policy is to provide a death benefit upon the death of the insured.

Most people are aware that life insurance companies usually pay out a lump sum death benefit upon the death of the insured.

A policy owner receives a cash payment, while the purchaser of the policy assumes all future premium payments and receives the death benefit upon the death of the insured.

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

The buyer pays all future premiums and receives the death benefit upon the death of the insured.

While mortgage life insurance works in much the same manner as a regular life insurance policy does, with the payout of death benefits upon death of an insured, in many instances, these types of policies will only require a minimal amount of underwriting for approval.

A life insurance beneficiary is the person who will receive the policy benefits upon the death of the insured.

The buyer of the policy pays all future premium payments and receives the death benefit upon the death of the insured (when the policy matures).

Life insurance protection comes in many different forms, but the primary purpose of any policy is to provide a death benefit upon the death of the insured.

When a consumer sells a policy in a «life settlement» transaction, the policy owner receives a cash payment and the purchaser of the policy assumes all future premium payments — then receives the death benefit upon the death of the insured.

And, the beneficiary is the one who receives the death benefit upon the death of the insured.

It can be a very important part of financial planning because it pays monetary benefits upon the death of the insured covered in the policy.

In a life settlement, a policy owner receives a cash payment, while the purchaser of the policy assumes all future premium payments and receives the death benefit upon the death of the insured.

Whole life insurance also pays out a death benefit upon the death of the insured person.

A life insurance policy is a contract between the owner of the policy and the insurance company which promises to pay a stated death benefit upon the death of the insured person, as long as the death occurs during the period of time covered by the policy.

The agreement provides that in return for timely premium payments to the insurance company, the company will provide a specified death benefit upon death of an insured.

The second person named to receive benefits upon the death of an insured if the first - named beneficiary is not alive or does not collect all the benefits before his or her own death.

An agreement that guarantees the payment of a stated amount of monetary benefits upon the death of the insured, or under other circumstances specified in the contract, such as total disability.

Beneficiary — An individual (s) or entity (s) named in the policy as a recipient of the policy benefits 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.

Simply put, second to die or survivorship life insurance differs from all the other types of life insurance because it insures the lives of two people AND only pays a death benefit upon the death of the last survivor.

The third most common configuration is joint first - to - die, in which the death benefit is paid upon the first death of 2 or more insureds.

In contrast to term insurance, a whole life insurance policy pays the death benefit stipulated in the contract upon the death of the insured, regardless of when it may occur.

It's perfectly legal that your uncle received a death benefit upon the deaths of his nephew and brother if he had policies insuring them.

Beneficiary: the beneficiary is the person or entity that receives the life insurance benefit from the insurer 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.&rDeath 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 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.&rdeath 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, 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.&rdeath 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.»

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.

Whole Life Insurance: A type of permanent life insurance which provides a level death benefit upon the insured's death, or a cash endowment upon policy maturity that is equal to the death benefit.

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.

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.

The death benefit of a life insurance policy is the amount paid out upon the death of the insured, while cash value refers to the amount of funds in a permanent life insurance policy's cash account.

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

This means that in many cases the full amount of death benefit will be paid upon the death of the insured without a waiting period.

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.

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

This benefit allows the owner to receive payment of a portion of the death benefits under the policy upon terminal illness of the insured.

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

All policy types have a stated death benefit that is paid upon the death of the insured person and permanent life insurance also has a cash value which can be used during the person's lifetime.

Upon the death of the insured, the insurance company pays a death benefit that is partly insurance and partly a return of policy's cash value.

Whole Life Insurance: A type of permanent life insurance which provides a level death benefit upon the insured's death, or a cash endowment upon policy maturity that is equal to the death benefit.

This benefit allows the owner to receive payment of a portion of the death benefits under the policy upon chronic illness 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.

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.

Upon the death of the insured, the death benefits payable are reduced by the total accelerated death benefit lien.

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).