Sentences with phrase «called as the death benefit»

Not exact matches

In the case that you pass, the policy beneficiaries should file a claim with the insurer, after which point the circumstances of your death will be reviewed and receive the payout (also called a death benefit or the face value of the policy) so long as everything is in order.

In the case that you pass, the policy beneficiaries should file a claim with the insurer, after which point the circumstances of your death will be reviewed and receive the payout (also called a death benefit or the face value of the policy) so long as everything is in order.

Universal life combines a savings component (called cash value) with a lifelong death benefit; as long as you pay the premium, coverage lasts as long as you live.

The accidental death benefit rider (called a double indemnity rider) increases the death benefit, if you die as the result of an accident.

The great thing about life insurance is that the death benefit is paid out income tax free and not necessarily tax free altogether as life insurance proceeds are typically included into the gross estate of the decedent (the deceased) and are thus subject to estate taxes (sometimes called «death taxes»).

Permanent life insurance (also called whole life) offers lifetime protection and a guaranteed death benefit as long as you keep the policy in force by paying the premiums.

If you die while the policy is in force, a pre-set cash payment called a «death benefit» will be paid out to whomever you name as a beneficiary.

Should you die while the policy is in force, your beneficiaries will receive not only your the initial face value as a death benefit, but also it's common for dividends to buy additional insurance by way of what are called «paid up additions», so the death benefit could actually be higher than the face value at the purchase of the policy.

We would certainly be able to help out your grandfather with a guaranteed issue final expense policy, but they would all contain what is called a Graded Death benefit, which would mean that the policy would not cover any losses as a result of natural causes for the first 2 years that the policy is in effect.

These term plans are called level term plans in industry parlance as the nominees receive the same level of death benefit if the worst comes to pass during the tenure of the term policy.

The accidental death benefit rider (also called a double indemnity rider) increases the death benefit if you die as the result of an accident.

If your contingent beneficiary predeceased you as well, then a third beneficiary, called the tertiary beneficiary, will receive the life insurance death benefit proceeds.

Accidental Death Insurance vs Life Insurance There is a huge difference between owning an accidental death policy (also called accidental death and dismemberment policy if the policy includes living benefits) and having a standard «life insurance policy» such as term or permanent life insurDeath Insurance vs Life Insurance There is a huge difference between owning an accidental death policy (also called accidental death and dismemberment policy if the policy includes living benefits) and having a standard «life insurance policy» such as term or permanent life insurdeath policy (also called accidental death and dismemberment policy if the policy includes living benefits) and having a standard «life insurance policy» such as term or permanent life insurdeath and dismemberment policy if the policy includes living benefits) and having a standard «life insurance policy» such as term or permanent life insurance.

As for whether or not the life insurance policy that your mother had, will in fact pay out, it will largely depend on the «type» of insurance that she purchased as well as whether or not it contained what is call a «graded death benefit» perioAs for whether or not the life insurance policy that your mother had, will in fact pay out, it will largely depend on the «type» of insurance that she purchased as well as whether or not it contained what is call a «graded death benefit» perioas well as whether or not it contained what is call a «graded death benefit» perioas whether or not it contained what is call a «graded death benefit» period.

The first level of beneficiary is called the primary beneficiary.Your primary beneficiary is defined as the person or organization that your lump sum death benefit will go to when you die.

This feature is sometimes called «accelerated death benefits» and is available on most permanent life insurance policies such as whole life insurance.

The initial (usually) 3 - year period of a life insurance policy is called the contestability period, as during this period suicide and misrepresentation of the information provided (e.g. smoking or heavy drinking when you stated on your application form you don't smoke or drink) can void the payment of the benefits in case of death.

This guaranteed period or «term» that a death benefit will be paid (only upon death of the insured) is the reason this kind of insurance policy is called «term life insurance», Other permanent types of insurance contracts also exist such as whole life insurance and universal life insurance, which will never expire as long as all premium payments are made in a timely manner to the insurance company.

There is a huge difference between owning an accidental death policy (also called accidental death and dismemberment policy if the policy includes living benefits) and having a standard «life insurance policy» such as term or permanent life insurance.

Otherwise known as «pure» life insurance, it should really be called «death» insurance, since the primary benefit is to provide for your beneficiary when you die.

If you die while the policy is in force, a pre-set cash payment called a «death benefit» will be paid out to whomever you name as a beneficiary.

In case of the former, the coverage may call for a payment of double the death benefit, which is known as a double indemnity clause, while with the latter, the policyholder is generally entitled to partial amounts, depending on the policy.

Like most permanent life insurance policies, whole life offers a savings component, called «cash value,» and life - long protection — as long as premiums are paid, whole life provides a death benefit after you die.

For example, if you caused an accident resulting in injuries, your auto insurer would pay for medical care under the liability portion of your policy.Life insurers, as the name implies, pay a specified, pre-agreed upon amount (called the death benefit or face amount) if you die while the policy is in force.

The Company provides an option to the policyholder on survival during the payout period or beneficiary in case of death of Life Insured (called Commutation option) to receive the present value of the outstanding survival and death benefit respectively as lump sum.

I know insurance companies would argue against this, but if you've had a policy in place for several years and it lapses because you miss a payment, do you think they have a strong interest in reinstating it, or possibly just calling all of the payments made as profit with no further need to worry about paying a death benefit?

Another rider, called accelerated death benefits, would allow you to collect a portion of the policy value yourself if you become terminally ill and are expected to pass away in a relatively short period of time, such as one year.