Sentences with phrase «death benefit clause of»

Each company will have their own rules and regulations in cases like these, we recommend that you fully understand the graded death benefit clause of the different insurance companies that you are considering to be sure that you're making the right decision for you and your family.

Not exact matches

The maturity clause of a life insurance policy is fairly complicated, but this basically means that the value you would be able to keep by surrendering the policy becomes larger than the total death benefit.

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.

Definition of a suicide clause: if the insured person commits suicide, while sane or insane, within a specified period — usually two years — the insurance company would not be obligated to pay the death benefit and instead would just return the premiums paid.

But with that being said I do see ur point of being farsighted and the advantages of lower premiums when starting early.Thank you for pointing out the aspect of the accident cover my term cover also has a rider (clause) with a nominal additional premium for disability and death benefits due to accident.

A graded death benefit is a clause written into guaranteed issue life insurance policy which states that prior to your policy covering «Natural» causes of death, you must first remain ALIVE for a certain period of time (typically 2 - 3 years depending on the carrier) after your guaranteed issue life insurance policy goes into force.

The accidental death benefit is payment due to the beneficiary of an accidental death insurance policy, which is often a clause or rider connected to a life insurance policy.

That's a tough one because it sounds like the only type of policies your mother would qualify for would have what is called a Graded Death Benefit clause.

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.

Most policies also have a suicide clause and won't have the death benefit in the case of a suicide within the first two years of the policy.

You should be cautious about the pre-existing conditions clauses of the plan you choose because the trip interruption benefits may not be honored if the reason for death was due to an existing condition.

Definition of a suicide clause: if the insured person commits suicide, while sane or insane, within a specified period — usually two years — the insurance company would not be obligated to pay the death benefit and instead would just return the premiums paid.

The suicide clause also applies to the first two years of your policy; a death benefit won't be paid if the cause of death is suicide during the first two years.

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.

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!

Generally contain what is called a «graded death benefit» clause stating that the policy must be in force for a period of time before it will actually payout in the event that the death is due to a «natural» cause.

For this reason, insurance companies add the «Graded Death Benefit» clause to their final expense policies so that they can avoid insuring someone who is simply days away from dying from a natural cause (heart attack, cancer, stroke, etc, etc...) Now, since nobody can predict an accidental cause of death such as a slip and fall, motor vehicle accident, victim of crime, etc, etc... these types of deaths would be immediately covered without needing to survive beyond the 2 or 3 year waiting period (the graded death beneDeath Benefit» clause to their final expense policies so that they can avoid insuring someone who is simply days away from dying from a natural cause (heart attack, cancer, stroke, etc, etc...) Now, since nobody can predict an accidental cause of death such as a slip and fall, motor vehicle accident, victim of crime, etc, etc... these types of deaths would be immediately covered without needing to survive beyond the 2 or 3 year waiting period (the graded death beBenefit» clause to their final expense policies so that they can avoid insuring someone who is simply days away from dying from a natural cause (heart attack, cancer, stroke, etc, etc...) Now, since nobody can predict an accidental cause of death such as a slip and fall, motor vehicle accident, victim of crime, etc, etc... these types of deaths would be immediately covered without needing to survive beyond the 2 or 3 year waiting period (the graded death benedeath such as a slip and fall, motor vehicle accident, victim of crime, etc, etc... these types of deaths would be immediately covered without needing to survive beyond the 2 or 3 year waiting period (the graded death benedeath benefitbenefit).

Incontestability Clause definition: makes a death benefit payout from a life insurance company incontestable after a certain period of time has passed, typically two years, regardless of any misrepresentation or concealment.

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.

The life insurance suicide clause generally states that there will be no death benefit paid if the policy holder commits suicide within the first two years of the policy.

This is a clause that states that should the insured (meaning you) die from NATURAL CAUSES during a certain period of time immediately after purchasing your life insurance policy (typically 2 to 3 years), the life insurance policy will not pay the death benefit (the insurance coverage amount).

Aviation Clause — If the insured is a pilot and dies as the result of an airplane crash, the insurance company is not required to pay out the death benefit.

The clause in the Insurance Contract that defines that no death benefits will be payable by the Insurer, in case the Insured commits suicide during a specified initial period, usually in the first year of the policy.

The maturity clause of a life insurance policy is fairly complicated, but this basically means that the value you would be able to keep by surrendering the policy becomes larger than the total death benefit.

Beneficiary Clause — This simply allows the policyowner to name the recipients of the death benefit.

Accelerated benefits: A clause or rider allowing the policyholder to receive a portion of benefits before the insured's death.

Under the suicide clause, the life insurance company will not pay the death benefit and will return premiums if the insured commits suicide within the first two years of the policy.

A guaranteed death benefit is a clause, within the insurance policy, that will typically state that your new life insurance policy will need to be «INFORCE» for a certain amount of time prior to covering NATURAL causes of death.

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.

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.

Lastly, guaranteed issue life insurance policies are going to contain what is called a Graded Death Benefit Clause, which is going to limit when your guaranteed issue life insurance policy will begin covering «natural» or «illness based» causes of dDeath Benefit Clause, which is going to limit when your guaranteed issue life insurance policy will begin covering «natural» or «illness based» causes of deathdeath.

Top Survivorship Clause You can elect to include this clause in your policy as a method of postponing the payment of the death beClause You can elect to include this clause in your policy as a method of postponing the payment of the death beclause in your policy as a method of postponing the payment of the death benefit.

Beneficiary Clause This is customary to most policies and allows you to name the recipient of your death benefit.

The inclusion of this clause means that if you commit suicide within two years (or less, depending) of purchasing the policy, the insurance company is not required to pay the death benefit, but is obligated to reimburse your family for all the premium payments you previously made.

This plan features an accident clause that allows you to add additional coverage for accidental death that will pay ON TOP OF the death benefit amount.

If you are a casualty of war, you insurance company is not responsible for paying the death benefit under this clause.

The first is a two - year suicide clause; meaning that if the policy holder commits suicide in the first two years of your policy, the death benefit would not be paid out to the beneficiary.

Graded benefits clauses state that if the policyholder dies within two to three years of buying the policy, the company will refund the premiums paid, plus interest, instead of paying out the death benefit.

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.

This may include accelerated death benefits, accidental death, terminal illness, or return of premium riders (to learn more, see Life Insurance: Are Accidental Death Clauses Necessadeath benefits, accidental death, terminal illness, or return of premium riders (to learn more, see Life Insurance: Are Accidental Death Clauses Necessadeath, terminal illness, or return of premium riders (to learn more, see Life Insurance: Are Accidental Death Clauses NecessaDeath Clauses Necessary?).

You have the option of adding the accidental death benefit clause to any of these policies as well as the waiver of premium benefit.

The death benefit amount is given to the nominee of the policyholder on the occurrence of death due to any reasons after the 45 days of the cooling period clause.

The accidental death clause stipulates the pertinent details related to the benefits to be received following the accidental death of the policyholder.

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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.

Suicide Clause — This is a common clause that excludes payment of death benefits if suicide occurs in the first two years of the life insurance policy (two years in some stClause — This is a common clause that excludes payment of death benefits if suicide occurs in the first two years of the life insurance policy (two years in some stclause that excludes payment of death benefits if suicide occurs in the first two years of the life insurance policy (two years in some states).

Graded death benefits are «clauses» written into guaranteed issue life insurance policies which will create a «waiting period» before your guaranteed issue life insurance policy will begin covering you for NATURAL causes of death.

A graded death benefit is a «clause» written into most (if not all) guaranteed issue life insurance policies which require the insured to «wait» for a period of time before their newly purchased guaranteed issue life insurance policy will begin providing coverage for «natural» causes of death.

Aviation Clause — This clause would exclude death benefit payment during an aviation accident outside of one that occurs on a standard airline scheduled fClause — This clause would exclude death benefit payment during an aviation accident outside of one that occurs on a standard airline scheduled fclause would exclude death benefit payment during an aviation accident outside of one that occurs on a standard airline scheduled flight.