Sentences with phrase «company pays a death benefit to the beneficiary»

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

Not exact matches

Protection for your group members — Death benefit is paid in event of death of the life insured by the company to the beneficDeath benefit is paid in event of death of the life insured by the company to the beneficdeath of the life insured by the company to the beneficiary.

If the insured dies within this term (10, 15, 20, 25, 30, or 35 years), the life insurance company pays a lump sum death benefit to the policy's beneficiaries.

Life insurance companies pay a death benefit (sometimes in the millions) to the beneficiaries of an insured if they die.

With a life insurance policy, if the insured person dies, the life insurance company will pay out a death benefit to the beneficiaries.

If you die during the first two years, the death benefit paid to your beneficiaries generally will be the amount you paid in premiums plus interest, although some companies will pay the full face amount for accidental death.

Your primary beneficiary is who the insurance company will pay your death benefit to first.

The insurance company will pay the death benefit to your named beneficiary if you die while your policy is in effect.

The insurance company pays out a lump sum death benefit to the beneficiary of the policy upon the death of the insured.

Whole life requires the policy owner to pay a fixed monthly premium for the rest of their life, and upon death, the company will payout the face value of the policy (death benefit) to the beneficiary.

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.

If the policyowner dies while the policy remains in effect, the death benefit is paid out to the listed beneficiary or beneficiaries, while the cash value becomes the property of the insurance company.

The insurance company will pay the death benefit, for both of the lives insured, to the specified beneficiary.

As with other types of life insurance, you pay regular premiums to your insurance company, in exchange for which the insurance company will pay a specific benefit to your beneficiaries upon your death.

In return for a premium payment, an insurance company will pay out a stated amount of tax - free death benefit to a named beneficiary — assuming, of course, the policy is in - force when the insured passes away.

The insurance company will also pay a death benefit to the annuity's beneficiaries.

The insurer is of course the company that is providing the life insurance coverage and the insured is the person whose death causes the insurer to pay the death benefit to the designated beneficiaries.

The company promises to pay a death benefit to a beneficiary when the insured dies as long if the insured meets the conditions of the contract (for example, dying within the term period).

Death Benefit: Money that is paid by an insurance company or employer to a beneficiary when a person dies.

Mortality Charge is one that is paid in lieu of the assurance given by the insurance company of providing benefits to the beneficiary in the event of unfortunate death of the insured.

you pay a monthly premium to the company, and in exchange the company agrees to pay a certain amount of death benefits to your chosen beneficiaries.

When you die, the life insurance company gets the cash value of the policy while the death benefit is paid out to your beneficiaries.

When you purchase life insurance, you enter into a contract with a life insurance company that agrees to pay a death benefit to your beneficiary, which can be your spouse, children or anyone you choose.

The company promises to pay a death benefit to a beneficiary when the insured dies as long if the insured meets the conditions of the contract (for example, dying within the term period).

Essentially, once the insured passes away, the insurance company will pay out the total death benefit tax free to the beneficiary (s).

However, we do know that the death benefit that will be paid to the beneficiaries will be more than than the premiums that we were paid to the insurance company.

The company promises to pay a death benefit to a beneficiary when the insured dies, as long as the insured meets the conditions of the contract.

Also, the company also paid out more than $ 63 million in life insurance death benefit proceeds to beneficiaries.

When you purchase life insurance, you pay a premium to the life insurance company with the understanding that they agree to pay the face amount or death benefit to the beneficiary you have named.

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.

In its most basic sense, funeral insurance actually works in a similar fashion to most other types of life insurance in that a person pays a premium to an insurance company in exchange for the payment of a death benefit to a named beneficiary in the case of the insured's death while the policy is in force.

The cost of insurance for the renewable term element inside a universal life insurance policy can be high in later years, but some companies reduce the cost of insurance by paying the death benefit to beneficiaries over an extended period of 30 years.

The insurance company pays a cash amount (called the coverage amount or death benefit) to the beneficiary (s) named in the policy upon the death of the insured person named in the policy.

Your primary beneficiary is who the insurance company will pay your death benefit to first.

Then once the Good Lord calls you home, the insurance company will pay out the death benefit in the form of a tax - free check directly to your beneficiary (s).

Life insurance is a type of insurance in which you pay a certain amount (premium payments) to a life insurance company and in exchange they agree to pay a lump - sum payment (the death benefit) to your beneficiaries upon your death.

The policy owner is responsible to pay the premiums, and in exchange, the insurance company promises to pay the death benefit to the named beneficiaries.

If the policyholder chooses the Save Benefit under any of the plan option, then on death or critical illness, the Sum Assured is paid to the beneficiary who is the child, all future premiums are waived off and paid for by the company and the plan continues.

With a viatical settlement, a viatical settlement company buys your life insurance policy, gives you a percentage of the death benefit upfront, and then pays all the remaining premiums to become the sole beneficiary of your policy — receiving the full benefit when you die.

If the chosen Benefit Payment Preference is Save - n - Gain under any of the plan option, in case of death or critical illness suffered by the insured during the tenure of the plan, the Sum Assured is paid to the beneficiary who is the child, all future premiums are waived off and 50 % of the premiums are paid by the company towards the plan and 50 % to the beneficiary on every premium due date and the plan continues.

But if Mike gets the same policy and dies when he's 55, Insurance Company X has to pay the policy's death benefit — which is usually in the millions — to his beneficiary.

It can fulfill promises made to your family if you are no longer around by providing a death benefit to your beneficiaries in return for premiums paid to the insurance company.

However, if this same person dies at age 55, the insurance company is required to pay the policy's death benefit to his beneficiary.

Meanwhile, the insurance company, while collecting your premium, will not have to worry about paying your beneficiaries death benefits if you die outside of term life insurance coverage or during a period of policy lapse.

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.

The Insurance Company — issues the policy and is responsible for paying the death benefit to the beneficiaries if the insured dies while the policy is in force

If you purchase a long - term care hybrid policy and never actually need long - term care, most life insurance companies have set it up so that the money you've paid in for the rider will ultimately be rerouted to your regular life insurance coverage, and your beneficiaries will receive the full death benefit amount.

In return, if you die while policy is in force, the insurance company promises to pay a death benefit amount to the people you've named as beneficiaries.

Typically, a life insurance company will pay a death benefit to a beneficiary within a few days of receiving proof that the insured has died.

When the policyholder dies, the insurance company pays a death benefit to the policy's beneficiaries.