Sentences with phrase «clause in a life insurance policy»

Suicide may be covered by life insurance in many cases, however the clauses in a life insurance policy are meant to stop people from only buying a policy because they want to leave money to their family after a suicide.

The incontestable clause in a life insurance policy is a key reason that a claim would be denied by a life insurance company in the first two years of a policy being in force.

According to the website LegalMatch, an almost universal clause in life insurance policies is a suicide clause.

Some types of clauses are common and well - known, such as a flood damage clause in a homeowner's policy or a suicide clause in life insurance policy.

If at the time of the application the policyholder engages in a job that exposes him or her to accidents or that implies accident as a potential cause of death, the insurance company may deny the inclusion of the clause in the life insurance policy.

It's a clause in a life insurance policy that permits an insured to renew without having to take a medical examination, regardless of his or her physical condition; the premium can not be increased to reflect an adverse medical condition.

A clause in a life insurance policy providing that after a policy has been in effect for a given period of time (two or three years usually), the insurer shall not be able to contest the statements contained in the application.

A clause in life insurance policies that states that if the insured commits suicide within a specified allotted time (usually two years), the insurance company is not required to pay the death benefit.

Clause in a life insurance policy that permits an insured to renew the policy without having to take a medical examination, regardless of his or her physical condition; the premium can not be increased to reflect any adverse medical condition.

This clause in a life insurance policy states that no death benefit will be paid out if the policyholder commits suicide within the first or second year of commencement of the policy.

The suicide clause in a life insurance policy simply states that during the first two years of the policy (one in some states) the policy does not have to pay if the death is due to a suicide.

Not exact matches

Although this clause is not automatically included in most modern life insurance policies, you may have to pay a higher premium if you fall into certain high - risk categories.

Back in the day, any form of flying was considered extremely hazardous and most life insurance companies would either force the applicant to pay an exorbitant amount or they would add an aviation exclusion clause to the policy, in other words, if you died as the result of a plane crash, your beneficiaries wouldn't receive the death benefit.

War Clause: A provision in a life insurance policy excluding the liability of an insurance company if the insured's death is the direct result of a war.

Incontestability Clause: A life insurance policy provision that states after the policy has been in force for a specified period of time, the company can not deny a claim based on a material misrepresentation made in the application.

And if you are shopping for a term life insurance policy now, having this clause included in the policy should be a priority.

The guaranteed renewal clause is a provision in your term life insurance policy that guarantees you will have the right to renew your policy when the term expires.

In some cases there is an exception to the 2 - year suicide clause for example, some employer - provided group life insurance policies may or may not have such exclusions.

War Clause: A provision in a life insurance policy excluding the liability of an insurance company if the insured's death is the direct result of a war.

For example, life insurance policies contain a clause that allows the insurance company to contest or investigate a death if it occurs in the first two years, like in the case of a suicide, for example.

Most life insurance policies have such clauses which will cancel out the policy in the event of an O.D. Usually, accidental clauses are not common in individual life insurance plans, but are more common in organizational policies.

The renewable clause in a term life insurance policy allows you to renew your policy at a set rate without undergoing a medical exam.

Every ordinary life insurance policy (term, universal life and whole life) that is approved and issued today contains a «contestable clause» that is in effect for a full two year period from the policy date.

To review the different clauses and exclusions that may be included in a life insurance policy, take a look at our blog Clauses and Exclusions: Things to Know about Your clauses and exclusions that may be included in a life insurance policy, take a look at our blog Clauses and Exclusions: Things to Know about Your Ppolicy, take a look at our blog Clauses and Exclusions: Things to Know about Your Clauses and Exclusions: Things to Know about Your PolicyPolicy.

California Governor Jerry Brown signed a bill today protecting customers from «discretionary clauses» in health, disability and life insurance policies, according to the California Department of Iinsurance policies, according to the California Department of InsuranceInsurance.

The life insurance policy may also have a suicide clause that states that a death benefit will not be paid out in the case of suicide.

The life insurance suicide clause is a provision that's in place during the first two years of the policy.

The insurance company may or may not pay the beneficiary of a life insurance policy in the event of a suicide depending on the circumstances, the primary factor being the existence of two clauses found in a life insurance policy: The Suicide Provision and the Incontestability Clause.

War Clause: A provision in a life insurance policy stating that if you die in a war they don't have to pay out.

At the time you purchase a life insurance policy, your insurance representative has an obligation to explain all of these clauses and policy conditions to you, as well as other exclusions in your life insurance policy as part of the purchasing process.

In addition to the incontestable clause, a life insurance policy may also have a Suicide Provision or Cclause, a life insurance policy may also have a Suicide Provision or ClauseClause.

Back in the day, any form of flying was considered extremely hazardous and most life insurance companies would either force the applicant to pay an exorbitant amount or they would add an aviation exclusion clause to the policy, in other words, if you died as the result of a plane crash, your beneficiaries wouldn't receive the death benefit.

Essentially, there are two clauses in most policies that address life insurance after suicide, the suicide clause and the incontestability clause.

A graded death benefit clause within a life insurance policy will state that for a certain period of time once the life insurance policy goes in force, the guaranteed life insurance policy will not cover the insured for natural causes of death!

The main down side however, would be that in general, a guaranteed life insurance policy will cost more that a simplified or fully underwritten policy and it will contain what is call a «graded death benefit» clause.

Graded death benefits are clauses written into guaranteed issue life insurance policies which state that in order for your life insurance policy to pay a death benefit for «Natural» causes of death, you will need to live for a set period of time (typically 2 - 3 years) after your policy goes into effect.

This rider is a clause in the policy, and may not be available from all life insurance companies.

A graded benefit or graded death benefit is a «clause» that you're going to find written in all guaranteed acceptance life insurance policies that is designed to protect the insurance company from insuring someone who is really, really sick!

A graded death benefit is a «clause» that is associated with most (if not all) guaranteed issue life insurance policies, which will state that the insured must not die of natural causes for a certain period of time after the policy is purchased in order for the policy to COVER natural causes of death.

Life insurance companies typically include a suicide clause in their policies.

A graded death benefit clause will basically state that your life insurance policy will need to be in force for some set period of time (typically 2 - 3 years) prior to it covering death due to a «natural» cause.

The main problems with these types of life insurance policies however, is that they're not always offered in every state and they will generally always contain what is called a graded death benefit clause.

Incontestable clause: In life insurance, a contract clause which provides that for certain reasons, such as misstatements on the application, the company may not contest payment of benefits (assuming premiums have been paid) and the policy has been in force during the lifetime of the insured for a certain period, usually two years after issuIn life insurance, a contract clause which provides that for certain reasons, such as misstatements on the application, the company may not contest payment of benefits (assuming premiums have been paid) and the policy has been in force during the lifetime of the insured for a certain period, usually two years after issuin force during the lifetime of the insured for a certain period, usually two years after issue.

Waiver of premium is a clause that is commonly found in health and life insurance policies, and it is where in the event that you become disabled or ill (usually for a period in excess of 6 months) your insurance company agrees to pick up the premiums on your policy until such a point as you are able to return to work.

A survivorship clause is a provision in a life insurance policy that delays the death benefit payment.

If the surviving spouse wishes to purchase life insurance after the death benefit has been paid, they must apply for another policy (unless a clause in the first - to - die policy guarantees that the joint policy will convert into an individual one).

Disability clauses are necessary in life insurance policies because policyholders sometimes become disabled.

A suicide clause is a provision in most life insurance policies that states that the policy will be void if the policyholder commits suicide within a specified period of time following the policy start date.

An accidental death clause is a stipulation in a life insurance policy that doubles or triples the death benefit to be given to a beneficiary in the event the policyholder dies due to unintentional or unforeseen causes.

A clause present in many life insurance policies, an aviation exclusion states that the death benefit becomes void if the insured dies as a result of an aviation - related accident while not on a regularly scheduled flight.