Sentences with phrase «death of the insured prior»

Not exact matches

Another benefit of permanent life insurance is that unless the policy is surrendered prior to death, the policyholder is insured for life.

These riders would give a portion of the death benefit to the policy owner prior to the death of the insured, based on the requirement that the insured was terminally ill.

It provides for the payment of a portion of the death benefit prior to the insured's death should the insured be diagnosed as terminally ill.

Living Benefit: A benefit that provides for the payment of a portion of the death benefit prior to an insured's death should the insured be diagnosed as terminally ill.

Just like with other types of permanent life insurance policies, cash can be withdrawn or borrowed from the policy, however, an unpaid balance will be charged against the death benefit should the insured die prior to the money being repaid.

These accelerated benefit riders would give a portion of the death benefit to the policy owner prior to the death of the insured, based on the requirement that the insured was terminally ill with less than 12 months to live.

It provides for the payment of a portion of the death benefit prior to the insured's death should the insured be diagnosed as terminally ill.

Pure Endowment A life insurance contract that provides payment only upon survival of the insured to a certain date and not in the event of that person's prior death.

Actually the Company probably lost money again, even though they really started to raise the Cost Of Insurance prior to the death of the insureOf Insurance prior to the death of the insureof the insured.

Accidental Death Benefit Rider Provides an additional death benefit equal to the face amount of the policy if the insured dies as a result of an accident prior to a certainDeath Benefit Rider Provides an additional death benefit equal to the face amount of the policy if the insured dies as a result of an accident prior to a certaindeath benefit equal to the face amount of the policy if the insured dies as a result of an accident prior to a certain age.

Critical Illness Payment: Any accelerated death benefit payment a policy owner receives will be less than the amount of the death benefit that is accelerated — because the benefit is paid prior to the insured's death.

LTCSO allows the owner of the AAFMAA policy the option of converting the death benefit on an eligible insured life — normally payable only upon the death of the insured — into regular periodic payments prior to death, specifically to defray the cost of nursing home, custodial or home health care for the insured.

Living Benefit: A benefit that provides for the payment of a portion of the death benefit prior to an insured's death should the insured be diagnosed as terminally ill.

Some make you pay for the benefit, which allows for the owner to access a portion of the death benefit prior to death if the insured has chronic illness and / or is terminally ill (expected to die within 24 months).

The Survivor Purchase Option allows the Survivor to purchase a new permanent policy without evidence of insurability at the first death of the insureds, and is available for 90 days if the first death of the insureds has occurred prior to the policy anniversary in which the Survivor is 75.

Holding the policy in an irrevocable trust allows the insured to keep the policy out of his or her taxable estate, possibly reducing eventual estate tax liability, though they give up rights to access the cash value prior to death.

Accelerated death benefit - An optional provision in a life insurance policy that provides for a specified percentage of the death benefit to be paid prior to the insured's death in the event a doctor certifies that the insured's life expectancy is limited (usually 12 months or less).

The only problem with these types of life insurance policies is that they will also contain a «graded death benefit» which will state that the insured must stay alive for a certain amount of time (typically 2 - 3 years) prior to their policy covering «natural» causes of death.

An acceleration life insurance policy makes a portion of the death benefit (usually 25 %) payable to the insured for a specified medical condition prior to death.

The lump sum death benefit is payable as long as the deceased worker was considered to be currently insured, which means they had at least 6 quarters of earnings covered by Social Security withholding during the full 13 - quarter period prior to their death.

Additional benefit riders should your health status change: With the Accelerated Death Benefit for Chronic Illness Rider, up to 50 % of the policy's death benefit ($ 500,000 maximum) can be accessed in advance if a licensed health care practitioner certifies during the prior 12 - month period that the insured is unable to perform at least two of six activities of daily living for a period of at least 90 days due to a loss of functional capacity, or has a severe cognitive impairment, requiring substantial supervision to ensure the health and safety of him or herDeath Benefit for Chronic Illness Rider, up to 50 % of the policy's death benefit ($ 500,000 maximum) can be accessed in advance if a licensed health care practitioner certifies during the prior 12 - month period that the insured is unable to perform at least two of six activities of daily living for a period of at least 90 days due to a loss of functional capacity, or has a severe cognitive impairment, requiring substantial supervision to ensure the health and safety of him or herdeath benefit ($ 500,000 maximum) can be accessed in advance if a licensed health care practitioner certifies during the prior 12 - month period that the insured is unable to perform at least two of six activities of daily living for a period of at least 90 days due to a loss of functional capacity, or has a severe cognitive impairment, requiring substantial supervision to ensure the health and safety of him or herself.

[In 2007, I processed a claim for the death of one of our corporate clients» insured executives in which the date of death was 6 years prior to discovering the death in the Social Security Death Index and filing the cdeath of one of our corporate clients» insured executives in which the date of death was 6 years prior to discovering the death in the Social Security Death Index and filing the cdeath was 6 years prior to discovering the death in the Social Security Death Index and filing the cdeath in the Social Security Death Index and filing the cDeath Index and filing the claim.

Should, however, the insured pass away prior to the time that the full amount of the policy loan has been repaid, there will be a reduction in the death benefit, based on the amount of the unpaid loan balance.

It is of course known that insureds may be incapacitated prior to death and therefore may miss premium payments.

It is important to note that using this rider will greatly decrease the death benefit your heirs receive since it is accelerating a portion of the benefit to be received prior to the insured's death.

This rider provides the policy owner access to the greater of $ 250,000 or 10 % of the eligible death benefit proceeds prior to the insured's death.

These riders would give a portion of the death benefit to the policy owner prior to the death of the insured, based on the requirement that the insured was terminally ill.

Generally speaking the policy must be owned by someone other than the insured for at least three years prior to death in order to avoid taxation as part of the estate.

These accelerated benefit riders would give a portion of the death benefit to the policy owner prior to the death of the insured, based on the requirement that the insured was terminally ill with less than 12 months to live.

Just like with other types of permanent life insurance policies, cash can be withdrawn or borrowed from the policy, however, an unpaid balance will be charged against the death benefit should the insured die prior to the money being repaid.

If the insured dies, the death benefit will be higher of the chosen Sum Assured deducting any partial withdrawals made in the 2 years prior to death or the Fund Value is paid

Provided that the death benefit is at least 105 % of the total premiums paid till death If the life insured dies before reaching 60 years of age, the Sum Assured would be deducted for any partial withdrawals made during two years prior to death If the life insured dies after attaining 60 years, any partial withdrawals made after crossing 58 years of age would be deducted from the Sum Assured.

For Interruption of Trip, this Insurance does not cover: (1) war or any act of war, whether declared or not; participation in a felony, riot or insurrection; participation in contests of speed; a Pre-existing Condition existing prior to the Insured's departure from their Home Country that has the likelihood of causing death; the Insured Person or Traveling Companion or Traveling Companion's family making changes to personal plans; having business or contractual obligations; being unable to obtain necessary travel documents (passports, visas, etc.); being detained or having property confiscated by customs authorities; carrier caused delays (including bad weather); prohibition or regulatory by any government; default of yacht charter companies; default of the organization from which the Insured Person purchased their trip arrangements.

Insurance money from a single premium policy is paid to the insured right after the maturity of the policy or to the beneficiary as a death benefit without having to make any more payments on the policy prior to these events.

Up to the age of 60 years of life insured, Sum Assured payable on death is reduced to the extent of Partial Withdrawals made during the last two years prior the date of death.

In the event of death of the life insured before the date of maturity, but prior the date of commencement of risk, Return of Premium (excluding taxes, rider premium & extra premium, if any).

Before age 60 years of the life insured, Sum Assured is reduced to the extent of Partial Withdrawals made during the last two years prior the date of death.

Cashing in a policy usually can only be done by the owner of the policy, or by someone to whom the policy has been assigned, prior to the death of the insured.

The surrender (voluntary termination) of a life insurance policy involves the payment by the insurer, prior to the death of the insured, of the accumulated cash value of a whole life policy.

The owner of the plan may designate the option (s) prior to the death of the insured.

The insured, prior to death, can borrow some or all of the cash value by means of a policy loan.

Sum assured (net of partial withdrawals, made 12 months prior to death of the life insured) 2.

# For age below 60 years of the life insured, Sum Assured is reduced to the extent of Partial Withdrawals made during the last two years prior the date of death.

Sum Assured is deducted to the extent of partial withdrawals: Up to the age of less than 60 years of the life insured, Sum Assured is reduced to the extent of Partial Withdrawals made during the last two years prior the date of death.

In the event of death of the life insured before the date of maturity, but prior the date of commencement of risk, an amount equal to the amount of total premiums paid shall be payable.

# If the life insured dies before 60 years of age, Sum Assured payable on Death is reduced to the extent of Partial Withdrawals made during the last two years prior the date of dDeath is reduced to the extent of Partial Withdrawals made during the last two years prior the date of deathdeath.

The life insurance accelerated death benefit allows an insured who is terminally ill to take as much as 50 % of the death benefit prior to death.

While there are a number of other payment options that can be chosen by the owner of the policy prior to the death of the insured, in the absence of that choice, policy proceeds are always provided as a lump sum.