Sentences with phrase «death benefit payment during»

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

Not exact matches

The Fisher House Foundation, a Maryland - based charity, has promised to ensure the families of fallen troops will be paid survivor benefits during the government shutdown — including a $ 100,000 payment made within days of a death.

(o) If there is no person who would be entitled, upon application therefor, to an annuity under section 2 of the Railroad Retirement Act of 1974 [98], or to a lump - sum payment under section 6 (b) of such Act, with respect to the death of an employee (as defined in such Act), then, notwithstanding section 210 (a)(9)[99] of this Act, compensation (as defined in such Railroad Retirement Act, but excluding compensation attributable as having been paid during any month on account of military service creditable under section 3 of such Act if wages are deemed to have been paid to such employee during such month under subsection (a) or (e) of section 217 of this Act) of such employee shall constitute remuneration for employment for purposes of determining (A) entitlement to and the amount of any lump — sum death payment under this title on the basis of such employee's wages and self — employment income and (B) entitlement to and the amount of any monthly benefit under this title, for the month in which such employee died or for any month thereafter, on the basis of such wages and self — employment income.

In case of the death of the Life Insured during the grace period allowed for payment of due premium, the Death Benefit less the outstanding charges shall be paydeath of the Life Insured during the grace period allowed for payment of due premium, the Death Benefit less the outstanding charges shall be payDeath Benefit less the outstanding charges shall be payable.

Most (if not all) «term» life insurance death benefits and premium payments should remain constant during the «term» period.

Because with term insurance, you're generally just paying for the death benefit, the lump sum payment your beneficiaries will receive if you die during the term of the policy.

If the insured dies during this period, death benefits are paid out to the beneficiary so long as premium payments have been made.

The insured may make a nomination at any time during the policy term with the purpose of payments of benefits in the event of his death.

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.

Choosing a renewable or convertible life insurance policy may also protect you from the contestable period in life insurance, which allows payment of the death benefit to potentially be investigated and denied during the contestability period.

At the end of 2016, Assurity Life Insurance Company had taken in more than $ 195.5 million in net premiums and deposits, and during that same year, the company had paid out nearly $ 63 million in policyholder payments, and more than $ 113 million in death benefits.

Your beneficiaries receive a death benefit if you pass away during your term (provided that you've kept up with your payments).

The initial (usually) 3 - year period of a life insurance policy is called the contestability period, as during this period suicide and misrepresentation of the information provided (e.g. smoking or heavy drinking when you stated on your application form you don't smoke or drink) can void the payment of the benefits in case of death.

In contrast, to say a 30 - year term life insurance policy, which pays a death benefit only if the insured dies during a specified period of 30 years, a whole life policy provides for the payment of a death benefit regardless of when the death occurs in someone's life.

Level Term Life Insurance DEFINITION: it is a valuable, cost efficient tool that enables the user to insure his or her life in order to provide financial protection for his or her beneficiaries for a guaranteed set period of time, offering a guaranteed death benefit and level premium payment during the term.

Worst case scenario, even if someone dies during the graded death benefit period, nothing has really been lost because one can simply consider the payments made as a «savings account» since this money will be returned to the designated beneficiary.

That it's not all bad news when it comes to the graded death benefit policies because in most cases, if an insured dies from «natural» causes during the graded death benefit period, most guaranteed life insurance policies (or at least the ones we offer here at TermLife2Go) will have some «reimbursement program» whereby the insured's beneficiary will receive back some if not all of the premium payments that the insured paid plus some type of additional interest earns as well.

Keep in mind: Your premium (amount you pay in exchange for life insurance) payments and death benefit (amount paid to your beneficiaries should you die during the term length) will remain level.

The insurance company can not legally reduce your death benefit during the policy duration unless you agree to the change (you might want to do this to reduce your premium payment).

With a term life insurance plan, the policyholder's monthly payment is the same throughout a set time period — or «term» — such as 20 or 30 years, in return for a stated amount of death benefit protection should they pass away during the time that the policy is in force.

Deferred annuity plans on the other hand provide for a death benefit during the deferment period when annuity payments do not accrue

In case, any of the mentioned Critical Illness occurs, the Benefit is paid to you as a Lump sum amount, as selected during the inception, heedless of the death benefit payout option you choose, subject to the policy being in function and the payment is made for all the due paBenefit is paid to you as a Lump sum amount, as selected during the inception, heedless of the death benefit payout option you choose, subject to the policy being in function and the payment is made for all the due pabenefit payout option you choose, subject to the policy being in function and the payment is made for all the due payments.

Accidental Death and Disability rider - You can avail the LIC accidental death and disability benefit anytime during the term of the payment of the preDeath and Disability rider - You can avail the LIC accidental death and disability benefit anytime during the term of the payment of the predeath and disability benefit anytime during the term of the payment of the premium.

If the death or the first diagnosis of cancer (subject to waiting period **) occurs during the premium payment term, then, an additional benefit as Income Benefit will be pbenefit as Income Benefit will be pBenefit will be payable.

This plan provides annual survival benefits at the end of the completion of premium payment up to 100 years of age and a maturity lump sum amount at maturity of term or death of the policyholder during the term.

Income Benefit: Total of all the regular premiums due under the policy, after the date of death or diagnosis of cancer when occurs during the premium payment term is payable.

As long as a policy owner is current on premium payments during an active term, death benefits are guaranteed to be paid to the plan beneficiaries if the policy holder dies.

The life assured, where he is the Policyholder, may, at any time during the policy term, can make a nomination for the purpose of payment of Benefits in the event of his death.

With immediate annuities, the contract must have a specific rider that offers a death benefit to pay the beneficiaries the remaining balance of an annuity if a designated number of payments were not made during the annuitant's life — meaning he died prior to realizing the full benefit.

On the Death of the Life Assured during the policy term, the policy gets terminated after payment of the Death Benefit.

In most cases (be sure to check with the policy you are considering), what you'll generally find is that in the event that the insured dies from natural causes during the graded death benefit exclusion period, most if not all of the premiums paid by the insured will be refunded to the insured's beneficiaries plus some type of interest payment based on how long the insured had been making payments!

Even in a «worst case» scenario where the insured dies from a natural cause during the graded death benefit exclusion period, because their beneficiary will still receive all of the premium payments the insured made plus some small amount of interested added on!

Someone who is looking for a term plan with a range of cover options like: a) Additional accidental death benefit or b) Increasing life cover during important milestones of life or c) Partial lumpsum payment to family members after death and remaining in monthly payments or d) Big lumpsum payment to family members after death and additional monthly payments If you also have one or more of the above listed requirements, then HDFC Life Click 2 Protect Plus plan is for you.

During this time the insurance company has the right to challenge the payment of the death benefit.

The plan provides for annual survival benefits from the end of the premium paying term till age 99 and a lump - sum payment at the time of maturity or on death of the policyholder during the policy term.

It will be Rs. 8.44 per Rs. 1000 Sum Assured and will not increase during the Death Benefit payment period.

In case of the death of the Life Insured during the grace period allowed for payment of due premium, the Death Benefit less the outstanding charges shall be paydeath of the Life Insured during the grace period allowed for payment of due premium, the Death Benefit less the outstanding charges shall be payDeath Benefit less the outstanding charges shall be payable.

In case of unforeseen event of death of Mr. Kumar during the premium payment term, «policy continuance benefit» ensures that the policy continues even without payment of all the future premiums.

The reason it is cheaper is because you're only paying premiums for the death benefit, the lump sum payment your beneficiaries will receive if you die during the term of the policy.