Sentences with phrase «death benefit coverage after»

Not exact matches

So, whether you pass away immediately after purchasing coverage or 50 years later, your beneficiaries would receive a death benefit.

If you are diagnosed with an illness after purchasing coverage, the insurer will pay you a portion of the policy's death benefit.

If you are diagnosed with an illness after purchasing coverage, the insurer will pay you a portion of the policy's death benefit.

While there's no premium for the first year, and coverage costs just $ 10 per year after that, the death benefit is extremely limited.

In addition, there's a two - year waiting period after you purchase coverage during which, if you pass away for any reason besides an accident, the full death benefit would not be paid.

So, whether you pass away immediately after purchasing coverage or 50 years later, your beneficiaries would receive a death benefit.

If death occurs after the «term» of coverage expires, no benefit is payable.

The face amount of coverage can go up to $ 20,000, and the full death benefit will be paid out after the insured has had the policy for a period of at least three years.

The newer Dollar - A-Day policy provides emergency medical care coverage immediately after an accident and $ 10,000 death benefits but no coverage for liability.

When this happens, your options for life insurance may be limited to high risk coverage at expensive rates or final expense insurance, also called funeral coverage, which has limited benefits and pays to a third party after your death.

After the two years, the coverage becomes ordinary life coverage and the full death benefit would be paid to your beneficiaries upon your death.

Employers can change your benefit package at any time and reduce or eliminate this coverage at any time, so it should not be your ONLY plan for taking care of your family after your death!

In case of the rider benefit in this HDFC term plan, if death occurs 6 months after the accident it is excluded from the scope of the rider coverage.

The death benefit amount for the Member Advantage Life UL will decrease each year after the initial 20 year coverage period until it reaches the minimum of $ 10,000.

And speaking of the death benefit, because it's used to pay off your mortgage balance in most cases, it usually decreases after the first five years of coverage to match your remaining mortgage.

The newer Dollar - A-Day policy provides emergency medical care coverage immediately after an accident and $ 10,000 death benefits but no coverage for liability.

However, if the misrepresentation is discovered after you die, the life insurance company may cancel the policy without ever paying the death benefit, meaning that you paid for life insurance coverage all those decades and your beneficiaries will receive nothing.

So, if a policyholder had purchased a Colony Term universal life 10 policy, and then they decided five years after purchasing it that they wanted to have coverage for the remainder of their lifetime, then the coverage extension feature would have allowed the insured to extend the death benefit protection guarantee to either age 90, age 100, or 105 — and, this could occur without the need for the insured to provide evidence of insurability.

While there's no premium for the first year, and coverage costs just $ 10 per year after that, the death benefit is extremely limited.

So, whether you pass away immediately after purchasing coverage or 50 years later, your beneficiaries would receive a death benefit.

In addition, there's a two - year waiting period after you purchase coverage during which, if you pass away for any reason besides an accident, the full death benefit would not be paid.

After age 25, each child's coverage can be converted to an individual life insurance policy with a maximum death benefit of $ 40,000, without providing evidence of insurability.

* Accidental Death and Dismemberment coverage is based on age: Under 18: $ 5,000; 18 - 69: $ 50,000; † The Sudden Onset of Pre-Existing Conditions maximum benefit for those 65 and older is $ 2,500, after deductible..

Usually after explaining the difference, they understand and are willing to take a lower amount of death benefit in exchange for the coverage lasting a lifetime.

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).

Within 24 hours after receiving notice of an insured's death, an emergency death benefit of the lesser of 50 % of the coverage amount or $ 15,000 will be mailed to the insured's beneficiary, unless the death is within the two - year contestability period and / or under investigation.

While a worker with a high paying job and lots of kids to support may need a million dollars or more in death benefit coverage, that same worker may need only a fraction of that coverage after the kids have grown up, found jobs and struck out on their own.

After the time has elapsed, policy holders have the option of keeping the coverage as an annually renewable plan, which provides a level amount of death benefit until the insured turns age 98.

The accelerated death benefit is included in every Trendsetter LB policy and can be triggered by a wide range of chronic, critical, and terminal illnesses, but only if you're diagnosed after purchasing coverage.

If the insured policyholder dies 5 years and 1 day after buying a 5 - year coverage plan, then death benefits will be not paid out because the insured died outside the window of coverage.

This option makes the most sense after premium payments are no longer due for a life insurance policy and there is no need to increase the death benefit through the purchase of additional paid up coverage.

For example, if you have high blood pressure or high cholesterol, you likely will get standard coverage, eligible for full death benefit disbursement the day after you pay your first premium.

The face amount of coverage can go up to $ 20,000, and the full death benefit will be paid out after the insured has had the policy for a period of at least three years.

Lying or misrepresenting your current or previous health or family medical history may result in insurance fraud, the cancellation of your coverage, and / or your family not receiving a death benefit payout after your passing.

Life insurance is often purchased by high - net - worth families to essentially protect their estates and minimize the debt burden for heirs, either through an individual policy, or through lower cost «second to die» coverage (meaning heirs receive the death benefit after both spouses on a policy die).

This can be through individual policies or lower cost «second to die» coverage (meaning heirs receive the death benefit after both spouses on a policy die).

As you know, these policies will generally be limited to 25K in coverage and will contain Graded Death Benefit clauses which will require the insured to live at least 2 years after the policy begins before it will cover «natural causes» of dDeath Benefit clauses which will require the insured to live at least 2 years after the policy begins before it will cover «natural causes» of deathdeath.

A graded death benefit means you have limited life insurance coverage for the first 2 years you are insured, then you have full coverage after the first two years.

The death benefit is a full coverage amount after a 3 year reduced benefit period.

The death benefit from a life insurance policy can help pay for bills after you're gone, but it can also help finance your children's college education or your spouse's retirement, depending on the coverage you purchase.

A graded death benefit means you have limited life insurance coverage for the first 2 years, then you have full coverage after the first two years you are insured.

If your need for coverage decreases as time goes on, many companies will allow you to reduce the death benefit at least once after the policy has been «in force» for at least a year.

After the two - year waiting period, you will have full coverage for your policy's entire death benefit, regardless of how you pass away.

Please note: Guaranteed issue / approval life policies usually provide accidental death coverage immediately, but they will only pay out the full death benefit if the insured passes away from a medical issue after a two year waiting period.

Graded benefit life insurance is coverage that provides full death benefits after the insured person is insured for at least 2 or 3 years.

If they want quick coverage, they should consider the fact that guaranteed issue life policies don't pay full death benefits for some predetermined amount of time after purchase.

Some of the «no exam» policies that are offered may provide immediate coverage after the first premium is paid while others have a period in which either no death benefit or a limited death benefit is paid.

The policy really does lapse after the grace period and at that point there is no death benefit is payable, but again, I think you'll find most companies, understanding that things happen, will do all they can to help you reinstate your coverage with minimal hassle.