Sentences with phrase «death of the insured individual»

This means that, upon death of the insured individual, the policy only pays out if payments have been kept current; if payments stop before the individual dies, the policy is no longer in force and will not pay out any money.

[x] The amount received by the beneficiary, from an annuity or insurance policy, after the death of the insured individual.

The policyholder or his nominee or his legal heir should send documented information about the death of the insured individual, mentioning the policy number with the cause and date of death.

«Term life insurance policies tend to be the cheapest form of life insurance that can be acquired to provide a significant benefit on the death of an insured individual.»

Not exact matches

This made it possible for insured individuals to use a portion of their policy's death benefit when it was needed most without selling it off at a discount.

An accelerated death benefit rider allows the policyowner to receive a portion of the death benefit early when the insured individual is diagnosed with a terminal illness resulting in a decreased life expectancy.

When you submit your life insurance claim, you must provide a copy of the insured individual's death certificate.

An accelerated death benefit rider allows the policyowner to receive a portion of the death benefit early when the insured individual is diagnosed with a terminal illness resulting in a decreased life expectancy.

Other benefits include accidental death, which provides benefits when death occurs as a result of an accident, family plan for insured spouse and children, disability waiver of premium, which waives the premium payments if the insured becomes disabled for more than 6 months and mortgage payment disability benefit which offers money to continue making payments if the insured individuals becomes disabled for 60 days or longer.

If the insured individual dies within that specific period of time, the life insurance carrier pays a death benefit to the insured's beneficiaries.

The average death benefit associated with each life insured in the portfolio is US$ 1.8 m, but there is considerable variation in the size of individual death benefit amounts.

Because the risk of insuring these individuals is lower, term life offers a much higher death benefit payment at a much more affordable monthly premium.

The investor is diversified against the risk of any single policy's financial impact, which in turn also means the investor has very little to gain from the death of any particular insured individual.

The proven Seattle wrongful death lawyers at Johnson, Graffe, Keay, Moniz & Wick, LLP have extensive experience defending the rights of individuals, insurance companies, self - insured corporations and medical professionals against wrongful death claims.

We represent individuals and professionals, municipalities and their agencies, business entities, trucking companies, insurers and their insureds from claims and lawsuits for catastrophic losses and personal injuries, civil rights, construction losses and contracts, employment related practices, property damage and wrongful death arising from the transportation function and commercial motor vehicle activity; the ownership, use and control of land (including environmentally related or toxic exposure claims); the design, manufacture, sale or use of industrial and consumer products; and liability claims against licensed professionals, including lawyers, engineers, accountants and architects, in the States of Pennsylvania and New Jersey.

The proven Phoenix wrongful death lawyers at Burch & Cracchiolo, P.A. have extensive experience defending the rights of individuals, insurance companies, self - insured corporations and medical professionals against wrongful death claims.

The firm represents individuals, business entities, trucking companies, insurers and their insureds from claims and lawsuits for personal injury, property damage or wrongful death arising from the transportation function; the ownership, use and control of land (including environmentally related and toxic exposure claims); commercial and business concerns and disputes and the design, manufacture, sale or use of industrial and consumer products in the State of Pennsylvania.

Life Insurance: Coverage placed on the life of an individual whereas an insurance company issues a policy and pays a stated death benefit in the event of the insured's death.

Beneficiary The individual or entity designated to receive a life insurance or annuity death benefit upon the death of the insured or the annuitant.

Contingent Beneficiary An individual or entity that is entitled to receive the proceeds of a life insurance policy if the primary beneficiary is not living at the time of the insured's death.

Since the policies are being purchased as investments and will be kept active until the death of the insured, age requirements are at minimum individuals over 65 with some degree of health history.

The policy's death benefit is only paid after the passing of both insured individuals.

Primary Beneficiary The primary beneficiary is the individual (s), trust, or other entity that receives the proceeds of the insurance policy in the event of the insured's death.

Beneficiary is the individual (s) designated to receive the death benefit in the event of the insured person's death.

A life insurance beneficiary is an individual who receives the policy's benefit proceeds upon the death of the insured.

The Uniform Simultaneous Death Act — Enacted in 1940 this act allows a court to decide which individual outlived the other in the event that the insured and primary beneficiary died in the same accident and no proof exists of who lived longer.

This term plan helps to cover against risk from rising inflation costs that may affect the real value of the death benefits that the insured individual's family would receive.

Third Party Insurance: Under this plan, the insured individual is protected against the loss / damage that occur due to bodily injury or death to a third party or any damage to property because of the insured person's vehicle.

An accelerated death benefit rider allows the policyowner to receive a portion of the death benefit early when the insured individual is diagnosed with a terminal illness resulting in a decreased life expectancy.

Also called «second - to - die» life insurance, this type of whole life policy insures two lives (typically spouses) and pays out upon the death of the second individual.

In legal terms, life insurance is a contract between a policy owner and insurer, wherein the latter agrees to reimburse the occurrence of the insured individual's death or other event such as terminal illness or critical illness.

It is designed to provide financial protection to the family and loved ones of the insured individual should death occur within the time of protection.

In the event of death of the policyholder where the life insured and policyholder are different individuals, the Death Benefit is as foldeath of the policyholder where the life insured and policyholder are different individuals, the Death Benefit is as folDeath Benefit is as follows:

Individuals with pre-existing health conditions or poor habits like tobacco use tend to have significantly lower life expectancies than their healthy counterparts, increasing their likelihood of early death and making them comparatively expensive to insure.

Life insurance provides a very important function against the financial loss due to an unexpected premature death of an insured, whether it be a family member, business partner or key individual.

When you submit your life insurance claim, you must provide a copy of the insured individual's death certificate.

Reimbursement for a single death benefit may not exceed 80 % of the cash value for $ 250,000 per insured individual or $ 100,000 in net cash.

In its most basic sense, life insurance consists of a policy holder paying a premium to an insurance company and in return, the insurance company paying out a death benefit to the beneficiaries of the insured if and when the insured passes away — provided that the policy is in force at the time of the individual's death.

Quite naturally, the period of coverage is predetermined by an individual need for Life Insurance and the death benefit is influenced by potential needs of the family in the event of the insured's death as well as the present day financial obligations, such as mortgage payments or education expenses.

Individuals who are insured under a life insurance policy, a pension or other annuity product that carries a death benefit enter into a contract with a life insurance carrier at the time of application.

The survivorship plans that are offered by The Principal will pay at the death of the second insured individual.

After an insured individual or annuitant dies, the process of receiving a death benefit from a life insurance policy, pension or annuity is relatively straightforward.

Individual travel insurance in India also compensates insured people in the event of death or permanent disability.

[x] It is a form of life insurance policy which pays for the final expenses of the insured individual after his or her death.

The policy can be even further customized by adding riders such as the estate protection rider — which increases the amount of the death benefit by up to 100 percent should both of the insured individuals pass away before the fourth anniversary of the policy — and / or the guaranteed policy split rider — which allows the policy to be split into two individual policies should the insured individuals divorce each other, or if the tax laws change.

If the insured individual survives the term period, the policy will terminate with non-payment of the death benefit, and the life insurance company is no longer contractually obligated to pay out.

Since the insurance company is taking on more risk by insuring higher risk individuals, the maximum amount of death benefit you can get is substantially lower.

With accidental death insurance, an individual will have death benefit coverage — which is a guaranteed amount of funds that is paid out to his or her beneficiary (or beneficiaries) should the insured die as the result of a covered accident.

The investor is diversified against the risk of any single policy's financial impact, which in turn also means the investor has very little to gain from the death of any particular insured individual.

Accidental Death and Permanent Total Disability Common Carrier: The sum insured as specified is paid by the company along with sum insured for Personal Accident section, if the individual undergoes accidental Bodily Injury during the course of the journey subject to the injury resulting in death or permanent total disabiDeath and Permanent Total Disability Common Carrier: The sum insured as specified is paid by the company along with sum insured for Personal Accident section, if the individual undergoes accidental Bodily Injury during the course of the journey subject to the injury resulting in death or permanent total disabideath or permanent total disability.