Sentences with phrase «death benefit policy which»

Instead of purchasing traditional life insurance which would take at least one month to get, this couple instead chose to purchase an accidental death benefit policy which they were able to obtain within the time span of 15 minutes while on the telephone.

Yearly renewable term is a one year level death benefit policy which is renewable each year at a higher premium.

Term insurance policies are popularly known as death benefit policies which are specifically designed to provide financial support to the family members of the insured in case of an unfortunate event.

Term insurance policies are actually death benefit policies which are designed to offer financial support to your family members if God forbids some unfortunate event happens with you.

Not exact matches

However, few people actually need these policies, which are very expensive and restrict their death benefit to less than $ 25,000.

Whole life insurance policies are usually structured to mature when you turn 100 years old, at which point the cash value should equal the death benefit.

Permanent insurance, which includes whole life and universal insurance policies, is for life: It provides a death benefit for as long as you pay the premium, but also may include cash value that can be accessed during the insured person's lifetime.1

Consult your investment professional to find out if this whole life insurance policy, which features a death benefit, is the right product for your financial situation.

This is known as a partial surrender, which reduces the cash surrender value of the policy and the death benefit amounts.

With term life insurance, you buy a policy, which has a given death benefit, say $ 250,000.

Universal life insurance is a flexible type of permanent life insurance policy in which the death benefit and premiums can be adjusted as your circumstances change.

In the case that you pass, the policy beneficiaries should file a claim with the insurer, after which point the circumstances of your death will be reviewed and receive the payout (also called a death benefit or the face value of the policy) so long as everything is in order.

OPTerm policies are renewable and convertible term life insurance which provide a level death benefit.

Among them are the rights to: bullet joint parenting; bullet joint adoption; bullet joint foster care, custody, and visitation (including non-biological parents); bullet status as next - of - kin for hospital visits and medical decisions where one partner is too ill to be competent; bullet joint insurance policies for home, auto and health; bullet dissolution and divorce protections such as community property and child support; bullet immigration and residency for partners from other countries; bullet inheritance automatically in the absence of a will; bullet joint leases with automatic renewal rights in the event one partner dies or leaves the house or apartment; bullet inheritance of jointly - owned real and personal property through the right of survivorship (which avoids the time and expense and taxes in probate); bullet benefits such as annuities, pension plans, Social Security, and Medicare; bullet spousal exemptions to property tax increases upon the death of one partner who is a co-owner of the home; bullet veterans» discounts on medical care, education, and home loans; joint filing of tax returns; bullet joint filing of customs claims when traveling; bullet wrongful death benefits for a surviving partner and children; bullet bereavement or sick leave to care for a partner or child; bullet decision - making power with respect to whether a deceased partner will be cremated or not and where to bury him or her; bullet crime victims» recovery benefits; bullet loss of consortium tort benefits; bullet domestic violence protection orders; bullet judicial protections and evidentiary immunity; bullet and more...

Since the premiums are higher and the death benefit is initially lower, a greater portion of the premium is added to the policy cash value, which then grows interest - free inside the contract.

If you die as the direct result of a vehicular, air, or sea accident that you did not deliberately cause, your insurer will pay your beneficiary the accidental death benefit, which is normally twice the value of your insurance policy's face value.

Their policy includes a «Living Needs Benefit» which advances part of the death benefit for policyholders who have been confined to a nursing home or have been diagnosed with a terminal illness with a maximum life expectancy of 6 Benefit» which advances part of the death benefit for policyholders who have been confined to a nursing home or have been diagnosed with a terminal illness with a maximum life expectancy of 6 benefit for policyholders who have been confined to a nursing home or have been diagnosed with a terminal illness with a maximum life expectancy of 6 months.

«Direct term life insurance» simply refers to a term life insurance policy in which the party upon whose death the benefit would be paid out is the same party paying for the policy.

Payment for the face value of the insurance policy or death benefits, which your beneficiary or beneficiaries will receive after you pass away

You may need an inexpensive term life policy, which lasts 20 - 30 years and provides a death benefit to your family if you pass away during the term.

Or you may wish to lock in a steady rate with a permanent life insurance policy, which accrues cash value, and pays a guaranteed death benefit, even if you live to be 100 years old.

This helps keep term life premiums lower for young people than permanent policies, which eventually will have to pay a death benefit.

The main difference between term life and permanent insurance is that term insurance only pays death benefits to your beneficiaries, while permanent life insurance pays out death benefits and accumulates cash value which will continue to build up over the life of the policy.

The primary difference between life insurance and AD&D insurance is the set of circumstances under which a policy will pay a death benefit.

Guaranteed universal life is arguably the most popular product for second to die because these policies are set up to offer an inexpensive permanent death benefit, which is a key part of the second to die policy appeal.

Those payments are invested in the company's general account, which in turn, guarantees that you or your beneficiaries will receive at least the policy's guaranteed cash value or death benefit.

The second instance is when a policy incurs a material change, such as a reduction to the death benefit, which may or may not cause the policy to MEC.

Luk says some entrepreneurs may go further and consider a universal life plan, in which the policyholder pays more into the policy than the death benefit requires.

Single - premium whole life (SPWL) is a type of life insurance in which a single sum of money is paid into the policy in return for a death benefit that is guaranteed to remain paid - up for the remainder of your life.

Life insurance policies in fact are so popular that earlier the product which was meant simply to provide death benefit, nowadays has started offering many different features which offer growth in investment, an opportunity to invest in the market, investments that are goal oriented and much more.

In addition to paying death benefits, it also has a cash value accumulation feature which grows over the life of the policy.

Their term life policy also has a limited death benefit, with the maximum value being $ 50,000, which can be designated to either 1 or 2 beneficiaries.

When shopping for term life insurance, the key policy features which will impact premiums are the term length and death benefit.

In the case that you pass, the policy beneficiaries should file a claim with the insurer, after which point the circumstances of your death will be reviewed and receive the payout (also called a death benefit or the face value of the policy) so long as everything is in order.

For purposes of this post, it just needs to be understood that we can bridge the deficiency of not having enough coverage in our banking policy with a term rider, which can be used to add convertible term life insurance (which results in an increase to the death benefit).

For maximum whole life insurance cash value growth, choosing the paid - up additions option, which purchases additional paid - up insurance, will further enhance your policy's cash value and grow your death benefit.

The policy includes an accelerated death benefit rider which will pay you a lump sum if you are diagnosed with a qualifying terminal illness.

Flex Pay PUA Rider — Paid - up additions riders allow you to pay additional premium into your policy to purchase additional participating whole life insurance, which increases your death benefit and cash value.

The policy ends at age 121, at which point the non-guaranteed totals equal over $ 21,000,000 for the cash value and death benefit.

You can access a maximum benefit amount which equals the lesser of 90 % of the total death benefit or the policy face amount less $ 25,000.

This is a bit different from a variable life insurance policy which has a lifelong death benefit.

A Single Premium policy is the one in which the premium amount is paid in lump sum at the beginning of the policy as a return for the death benefit which is guaranteed to be paid up until the death of the policyholder.

A Life Insurance with Single - premium benefits is a type in which the premium is paid in lump sum to the policy to which in return death benefits are promised to be paid until the policyholder die.

The inner - workings of cash value life insurance consists of a life insurance policy, which is a contract between the policy owner, the insured (often the same person), and the insurer, where the insurer agrees to pay a death benefit to the policy's beneficiary, based on the owner continuing to make the policy's premium payments.

Cash value life insurance DEFINITION: a permanent life insurance policy that provides a death benefit, which also has an account that accumulates cash value.

If you're thinking of buying a cash value life insurance policy, ask your agent or company for a sales illustration, which is a computer projection of future premiums, cash values and death benefits based on the current dividend scale (whole life) or current interest rates and current costs of insurance (universal life).

Your NYL UL and NYL SUL policies have the potential to earn cash value, which can increase the death benefit your beneficiaries receive.2 Provided it's sufficient, your cash surrender value can be accessed through policy loans and partial surrenders1, 3 to buy a home, fund a child's education, or supplement retirement income.

Life products have several options which will ultimately affect the overall value of the policy to you while you are living (cash value) and the value to your beneficiaries at your passing (death benefit).

Whole Life Insurance: A type of permanent life insurance which provides a level death benefit upon the insured's death, or a cash endowment upon policy maturity that is equal to the death benefit.

Please let me know that monthly income advantage plan offered by Max Life in which after paying 12 annual premiums will get a monthly income for next 10 years & get a lump sum amount (equal approximate the premiums paid in 12 years in the beginning) plus approx. 14.5 times death benefit for the entire policy term i.e. 22 years.