Sentences with phrase «death benefit clause within»

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!

Not exact matches

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.

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.

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 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.

The incontestability clause states that if the policy holder made false or misstatements on the policy application and dies within the first two years, the insurance company may decline to pay the death benefits.

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.

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.

Also note that most policies have a two - year contestability clause, meaning that if you die within the contestability period, the insurance company can investigate and void the death benefit to your family if they find that you gave inaccurate medical information.

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.

Depending on what state you live in, there will be a suicide clause, meaning if you commit suicide within that time frame, the beneficiary would only get the premiums back, but not the death benefit.

Within most if not all guaranteed acceptance life insurance policies, there will be a clause written into the policy that is known as a Graded Death Benefit.

The suicide clause indicates that the insurance carrier is not obliged to give the death benefit to the heirs, if the policy holder commits suicide within two years of the date of purchase.

Within most if not all guaranteed issue life insurance policies, there will be a clause written into the policy that is known as a Graded Death Benefit.

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.

Suicide Exclusion Clause: This is a limitation in all life insurance policies to the effect that no death benefit payment will be made if an insured person commits suicide within the first two years that the life insurance policy is In Force.

It's also important to note that within most if not all Graded Death Benefit clauses, there will or at least there should be some type of language that refers to what happens should someone die from natural causes during the graded death benefit exclusion peDeath Benefit clauses, there will or at least there should be some type of language that refers to what happens should someone die from natural causes during the graded death benefit exclusion Benefit clauses, there will or at least there should be some type of language that refers to what happens should someone die from natural causes during the graded death benefit exclusion pedeath benefit exclusion benefit exclusion period.

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.