Sentences with phrase «death benefits to your beneficiaries if»

Term life insurance policies are temporary and only pay out a death benefit to the beneficiary if the policyholder dies within the term of the policy.

Term life insurance provides a death benefit to your beneficiaries if you should die during the number of years, or «term» you choose.

Term life offers coverage for a set period of time and then expires, and pays a death benefit to beneficiaries if the policyholder dies while the policy is in effect.

An accelerated underwriting life insurance policy that provides term lengths of 10 and 20 years and provides a lump sum death benefit to your beneficiary if you do not outlive the term.

This kind of policy pays a death benefit to your beneficiaries if you pass away before the term expires.

Term life insurance provides a death benefit to your beneficiaries if you should die during the number of years, or «term» you choose.

Term life insurance, as the name suggests, is a life insurance policy that covers a set number of years and would pay the lump sum death benefit to the beneficiary if the insured person died during the term of the policy.

Term life insurance policies are temporary and only pay out a death benefit to the beneficiary if the policyholder dies within the term of the policy.

The Insurance Company — issues the policy and is responsible for paying the death benefit to the beneficiaries if the insured dies while the policy is in force

This means that the insurer has a restriction where they will not pay out death benefits to a beneficiary if you were to die in the first 2 years when the policy comes into effect.

Term life insurance provides coverage for a specific period of time and pays out a death benefit to the beneficiary if the policyholder dies within the term of the policy.

Due to the set time frame of term life insurance, the policy will only pay a death benefit to the beneficiary if the insured's death occurs while the policy is in - force.

Term life is bought for a given amount of time, typically between 5 and 30 years, and provides death benefits to your beneficiaries if you should pass during the term.

They both offer different term periods (e.g. 10 years, 20 years) and both pay a death benefit to your beneficiary if you die during the term period.

For example, a 15 year term life policy will provide a death benefit to your beneficiary if you pass on within 15 years.

A provision in certain life insurance policies (also known as an accidental death benefit) that pays double the death benefit to a beneficiary if the insured dies in an accident or in another way as specified by the policy.

It will increase your monthly premium; however it will pay at least double the death benefit to your beneficiaries if you die an accidental death, or are disabled due to the loss of limbs or eyesight.

Life insurance with fixed term coverage will pay a death benefit to your beneficiaries if you die within the term of your policy.

As the name suggests, accidental death insurance will cover you and provide the death benefit to the beneficiary if you were to die from an accident.

Act of war exclusions protect insurance companies from having to pay death benefits to beneficiaries if the insured person dies as an act of war.

As you can see, the main disadvantage to purchasing an Accidental Death Policy is that it won't provide a death benefit to your beneficiary if you die due to natural causes.

Not exact matches

AD&D insurance is similar to a life insurance policy in that both offer a death benefit, but your beneficiary wouldn't receive a payout if you died due to an illness.

If you were to die before paying back your policy loan, the loan balance plus interest accrued is taken out of the death benefit given to your beneficiaries.

If you die within the term, your beneficiaries receive the death benefit amount to help replace your income.

If you die, but not because of an accident (e.g. cancer), within the first two years, the death benefit will not be paid out, however, all your paid premiums plus a little interest will be paid to your beneficiaries.

With a guaranteed issue life insurance policy, if you die because of an accident (e.g. a car crash) within the first two years, the full death benefit will be paid to your beneficiaries.

If you die by any means after the first two years, the full death benefit amount will be paid to your beneficiaries.

A death benefit is a payment that the insurance company will make to your beneficiary if you die.

However, this means that if something happens down the line that causes the owner of a policy to not want their initial beneficiary to receive their death benefit (such as divorce), it'll still go to the beneficiary they chose during their application.

That means, if you were to die before the end of the term, your beneficiaries would receive the death benefit.

Your policy's beneficiary will receive an increased death benefit with this rider, if you would die due to an accident.

If the beneficiary is a minor, another option is an «interest income» payout, which makes guaranteed payments toward the interest on the death benefit for a specified time — for example, until the minor comes of age — at which point the benefit amount becomes available to that beneficiary.

If your beneficiary chooses to receive the death benefit as an annuity, that means he or she wants to divide up the payments across a number of years of his or her choosing.

If you are the beneficiary, the death benefits remain payable indefinitely provided the owner did not allow the policy to lapse, or cash it in before he or she passed away.

If you're the beneficiary of a life insurance policy, you should speak with a certified financial planner who should be able to help you determine whether you'd benefit from converting the life insurance death benefit into an annuity.

If you do designate your child as your beneficiary, when the insurer pays out, the death benefit will go to a trust overseen by a court - appointed guardian, who will hold onto the money until the child reaches the «age of majority.»

Term life insurance is not taxable if the death benefits are payable to a named beneficiary (which must be a real person).

Thanks to «the slayer rule», when you're «south of heaven» and your life insurance beneficiary is the one who put you there, most states show no mercy if there's a preponderance of evidence against the person trying to claim the death benefit.

If your beneficiary tries to claim the death benefit and the insurer finds out you died from a previously undisclosed alligator - wrestling avocation, the insurer could recalculate your premiums to the amount it believes you should have been paying and subtract that amount from the payout.

Term life insurance is a life insurance policy that provides a death benefit to the policyholder's beneficiaries if that person dies within the specified «term» of the policy.

We recommend term life insurance over mortgage life insurance if you're in good health because you'll get cheaper quotes and the death benefit goes to the beneficiary you choose.

If the insured dies within this term (10, 15, 20, 25, 30, or 35 years), the life insurance company pays a lump sum death benefit to the policy's beneficiaries.

If you pass away during this period of time, the insurer wouldn't pay the full death benefit to your beneficiary.

Your beneficiary will also be asked if they want the death benefit as a check or to have it placed in a Total Control Account.

Another reason to pay back the policy loan is that the total outstanding balance would be deducted from the death benefit your beneficiaries received if you passed away.

In addition, if you pass away during the first 2 years of coverage due to a non-accident, your beneficiary won't receive the full death benefit.

If you haven't been keeping up with your insurance premiums, your insurer will not pay out the death benefit to your beneficiaries when you die, rendering the whole thing useless.

Take life insurance as an example: you pay for a policy, and if you die during the term then that money (the death benefit) goes to the person you named as your beneficiary on the policy.

Term life insurance pays a death benefit to the policy beneficiary if the policyholder dies within the term of the policy.

AD&D insurance is similar to a life insurance policy in that both offer a death benefit, but your beneficiary wouldn't receive a payout if you died due to an illness.