Sentences with phrase «by policy owners»

• Reviews and processes transactions requested by Policy Owners of existing business.

Mutual Life Insurance companies are owned by their policy owners.

Mutual companies are those that are mutually owned by the policy owners.

Life insurance carriers take on the financial obligation to pay a specified death benefit in return for premiums paid by policy owners for a set amount of time as defined by a life insurance contract.

Life insurance policies are purchased by policy owners for different sets of reasons.

Be it endowment or market linked ULIP, these options grant tax benefits on the premiums paid by the policy owners.

Mutual companies are those that are mutually owned by the policy owners.

But they don't need to be paid by the policy owner.

Provides a guaranteed stream of income for a period of time selected by the policy owner (often for life)

Taxation of these dividends depend on the option chosen by the policy owner.

This Stanism (Stan The Annuity Man speak) is based on an industry estimation that over 60 % of lifetime income riders are never turned on by the policy owner.

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

Secondary Beneficiary: A person (s) designated by the policy owner to receive policy proceeds if the Primary Beneficiary is deceased at the time benefits become payable.

Contingent Beneficiary: A person (s) designated by the policy owner to receive policy proceeds if the Primary Beneficiary is deceased at the time benefits become payable.

Premium: The amount of money to be paid by the policy owner to the insurance company for the benefits provided under an insurance policy.

Premium Mode: The frequency of premium payments elected by the policy owner.

Non-direct recognition refers to a whole life insurance company that does NOT alter its dividend rates based upon outstanding loans taken by the policy owner against the 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 the insured.

Incidents of Ownership: Various rights that may be exercised under the policy contract by the policy owner.

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

Premium Mode: The frequency of premium payments elected by the policy owner.

Premium: The amount of money to be paid by the policy owner to the insurance company for the benefits provided under an insurance policy.

Contingent Beneficiary: A person (s) designated by the policy owner to receive policy proceeds if the Primary Beneficiary is deceased at the time benefits become payable.

Premium: The amount of payment to be made by the policy owner to the insurance company for the benefits provided on the insurance policy.

The TD T10, TD T20 and TD T100 policies offer the option to designate the beneficiary as revocable (i.e. the beneficiary can be changed by the policy owner), or irrevocable, (i.e. the beneficiary is set at the beginning of the coverage and can not be changed except with the beneficiary's consent).

The main difference is the cash value in a variable universal life policy is reliant on the financial market and is managed by the policy owner.

The death benefit can also be increased by the policy owner, usually requiring new underwriting.

Single - premium means that only one payment for the premium will be made by the policy owner.

When the dividends paid on a whole life policy are chosen by the policy owner to be reinvested back into the policy, the cash value can increase at a rather substantial rate depending on the performance of the company.

A life settlement is the sale of a life insurance policy by a policy owner who no longer wants or needs his or her policy.

The plan returns all premiums, minus any fees, extra charges or premiums for optional riders paid by the policy owner at the end of the 20 - year term if no claim has been made.

Quick Tips to Consider Before You Sell Your Life Insurance Policy Fraud Commissions Consider Your Options A life settlement is the sale of a life insurance policy by a policy owner who no longer wants or needs his or her policy.

Beneficiary: the person named by the policy owner to receive the proceeds from the insurance policy once the policy owner is deceased.

Whole life insurance policies can effectively be treated as an de facto savings account by the policy owner, as long as premium payments are timely and up to date.

Premium: the payment agreed to be paid by the policy owner in return for coverage from an insurance provider.

This tax - deferred feature enables the money earned over time to grow tax - free until it is withdrawn by the policy owner.

Dividends received by the policy owner can also be taxed if the amount exceeds what the policy owner paid in premiums.

They represent the policy owner and negotiate the offer that best serves the needs of the seller, which may be accepted or rejected by the policy owner.

A Surrender Request Form duly filled and signed by the Policy owner along with the original policy document should be sent to any of the PNB MetLife branches.

An amount of cash values less the policy surrender charges that can be borrowed by the policy owner.

Visit any of our branches and submit fund switch request form duly filled and signed by the policy owner.

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

It works by returning all premiums paid by the policy owner over the life of the term.

Assignment: The signed transfer of the benefits of a policy to another party by a policy owner.

Reinstatement - Restoring a lapsed policy to its original premium paying status, upon payment by the policy owner, with interest, of all unpaid premiums and policy loans, and presentation of satisfactory evidence of insurability by the insured.

For example, indexed universal life offers policy holders a return of cash based upon a number of market indexes (such as the S&P 500 index) that may be selected by the policy owner.

Dividends can be used to pay premiums, they can be used to purchase more paid up insurance (increasing dividends even more in future years), or they can be taken and used by the policy owner however they want as a cash payout.

All three of these options increase the rate of return experienced by the policy owner.

The coverage limit on personal liability is determined by the policy owner at the time the policy is issued.

Policy Owner: Premiums paid by the policy owner are normally not deductible for federal and state income tax purposes, and proceeds paid by the insurer upon the death of the insured are not included in gross income for federal and state income tax purposes.