Sentences with phrase «companies during your grace period»

Not exact matches

If you die during the grace period, your beneficiary will receive the full value of the death proceeds of your life insurance policy minus any premium that is owed to your life insurance company.

After a life insurance premium is missed, a policy will move into grace period status, where while technically delinquent, the insurance company is still responsible for paying a death benefit if a valid claim is filed for a death of the insured during this time.

If an insured person dies during the grace period the insurance company is still required to pay the full death benefit.

A 30 days grace period is offered by the insurance company to the insured during which he / she can clear all the due premiums.

Insurance companies also provide a grace period after the due date and if you will fail to pay your premium during this term, you will not be entitled to get a claim.

During the grace period the Company will accept the premium without charges.

If you are on an automatic bank draft the company will generally try to draft again during the grace period if payment fails.

If you pay other than monthly and you die during the grace period, the company will return all premiums paid except for those due during the policy month the death occurred.