Sentences with phrase «death of the insured with»

In the return of premium option, in case of the death of the insured with less than 45 years, highest of - the sum assured or 125 % of the single premium is paid or minimum guaranteed sum assured on maturity is paid.

These are payable on maturity of the policy, with basic sum assured or on earlier death of the insured with sum assured on death.

Not exact matches

Accelerated Access Rider Allows insured to accelerate a portion of their life insurance death benefit in the event they are diagnosed with a chronic or critical illness that meets certain eligibility requirements.

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.

Privately insured children and those with Medicaid at the time of a cancer diagnosis experience largely similar survival trends, with slight evidence for an increased risk of cancer death in children who were uninsured at diagnosis, finds a new study from the Brown School at Washington University in St. Louis.

Naturally, a policy buyer would prefer the insured to be elderly, in poor health, with a policy that has low cash value and a high death benefit, because all of these factors might increase the buyer's yield - to - maturity on the policy when you die.

Accelerated Access Rider Allows insured to accelerate a portion of their life insurance death benefit in the event they are diagnosed with a chronic or critical illness that meets certain eligibility requirements.

The accelerated death benefit rider pays out a significant portion of the death benefit in the event the insured is diagnosed with a terminal illness (12 - 24 months to live).

Death Benefit - In case of uncertain demise of the insured person during the tenure of the policy the death benefit is provided to the beneficiary of the policy as basic sum assured along with vested simple reversionary bonus and terminal bonus ifDeath Benefit - In case of uncertain demise of the insured person during the tenure of the policy the death benefit is provided to the beneficiary of the policy as basic sum assured along with vested simple reversionary bonus and terminal bonus ifdeath benefit is provided to the beneficiary of the policy as basic sum assured along with vested simple reversionary bonus and terminal bonus if any.

Living Needs Benefit (Accelerated Death Benefit) Rider: at no additional cost, this living benefit pays out a portion of the death benefit if the insured is diagnosed as terminally ill with a life expectancy of 12 months or Death Benefit) Rider: at no additional cost, this living benefit pays out a portion of the death benefit if the insured is diagnosed as terminally ill with a life expectancy of 12 months or death benefit if the insured is diagnosed as terminally ill with a life expectancy of 12 months or less.

For instance, if a husband is the owner of a policy and his wife is the insured, with their son the beneficiary, the IRS may consider this an attempt to circumvent the gift tax and declare that the insurance death benefit proceeds are subject to taxes, with those taxes charged to the husband as the owner of the policy.

Allows the insured to access the death benefit payout while still living if he / she is diagnosed with terminal illness and needs to use the cash to cover the costs of care.

The Legalese «The Acceleration of Death Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rDeath Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rdeath benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rdeath of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.»

Yet, if the insured does not ever need this benefit, they will still maintain the protection of the death benefit on the policy, along with the cash growth.

A type of policy that does not expire during the life of the insured and combines a death benefit with a savings portion that can build cash value.

So this plan offers death benefit in case of the life insured's demise and it also gives you a good maturity benefit with the growth in the equities market.

The accelerated death benefit rider pays a portion of the death benefit to you (the insured) if you become terminally ill with a short life expectancy.

Just like we saw with whole life insurance, the death benefit works in exactly the same way in that it will be paid to the beneficiary as long as the insured passes away within the dates of the policy, i.e. the contract.

Occupational Hazards: Hazards associated with an insured's occupation that increase the possibility of injury, illness or death.

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.

A Term Life policy offers coverage only if death occurs during a specific period of time, which coincides with the terms in which the insured member is required to make a monthly premium.

This type of life insurance policy allows those with disposable cash to pay a lump sum into a life policy for a death benefit that will be paid up until the insured dies.

Life insurance benefits are typically paid when the insured person dies and the beneficiary files a claim with the insurance company and provides a certified copy of the death certificate.

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.

Now it's true that the death benefit on both is only $ 4 million compared to $ 8 million with the two policies, but as you can see the price is significantly less than even insuring one of them for $ 4 million.

With asset - based LTC the insured either uses it, or passes the benefit along to the beneficiaries with the rest of the death beneWith asset - based LTC the insured either uses it, or passes the benefit along to the beneficiaries with the rest of the death benewith the rest of the death benefit.

While initial premiums are higher than with a typical term policy, it is possible for coverage to continue until death of the insured, and cash value may accrue in the policy on a tax - deferred basis that can be used to help meet financial needs during your life.

The reduced sum assured along with the accrued bonuses (if any for 5 years) will be paid on maturity or on death of the insured.

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.

The insurance policy will provide a return of capital at the death of the insured (you), with the lifetime income stream continuing for the surviving spouse or stopping if the annuity was just life - only on you.

[42] In other words, Part 7 (at least so far as it is concerned with benefits following injury, rather than death benefits) has two related objects: to compensate an insured person for a portion of the financial loss accrued from temporary total disability caused by a motor vehicle accident; and, where possible, to do so in a manner that brings about the end of the total disability by returning the injured person to employment or self - sufficiency.

The legislatively established bright line rule roughly captured the results of those disputes, with much less litigation cost, while giving insureds more confidence that they would not be cheated of their premiums when they died due to reasons trumped up after the death by the insurance company.

Living Benefits Rider With some life insurance policies, this rider enables insureds to receive a specified portion of the policy's death benefit before the policyowner insured's death if certain conditions are met.

«Term cost» is simply the cost of a one - year term policy on the insured employee with the same death benefit, i.e., what it would cost the employee to buy the same amount of insurance protection for one year under a term policy.2 In some arrangements, the employee actually pays the term costs.

4) Cash Value Life Insurance — Refers to permanent life insurance policies, which not only provide the insured with death benefits, but also have the added advantage of having a cash value accumulation portion which grows tax free through the life of the policy.

Access up to 60 % or $ 1 million (whichever is less) of the policies death benefit if the insured is diagnosed with a terminal illness.

With the guaranteed acceptance coverage through Colonial Penn, if the insured dies within the first two years of coverage, then the amount of the death benefit paid out to the beneficiary will be reduced.

With the accidental death benefit rider, should the insured die due to a qualifying accident, his or her named beneficiaries would receive an additional amount of death benefit.

Yearly Renewable Term (YRT): A type of term life insurance policy that provides a level death benefit with premiums that increase each year with the insured's age.

The policy includes an accelerated death benefit, which provides up to $ 500,000 or 75 % of the face amount in advance if the insured is diagnosed with a qualifying terminal illness.

Common Exclusions: No coverage for (1) bodily injury / death when you are using your vehicle to carry persons or property (including magazines, newspapers, food) for compensation or a fee; (2) liability assumed under a contract; (3) bodily injury / death to an employee; (4) bodily injury / death caused by an intentional act; (5) property owned by, rented to, or in the charge of an insured person; (6) bodily injury / death to you or relative; (7) bodily injury / death or property damage resulting from a relative's use of a vehicle, other than a covered vehicle, owned by a person who resides with you; or (8) bodily injury or property damage resulting from your operation or use of a vehicle owned by you, other than a covered vehicle.

With whole life insurance, the premium amount will never increase, and the amount of the death benefit will not decrease — even as the insured gets older (and even if he or she contracts an adverse health issue).

Level benefit means once the policy has been issued, the insured's beneficiaries are eligible for the full face value immediately after death of the insured occurs with no reduction in the face amount otherwise known as the death benefit.

The other component of the rider is that it pays out up to 75 % of the death benefit, while the insured is living, if he or she is diagnosed with a terminal illness.

With permanent life insurance, this is an important option because it lasts until the death of the insured.

A benefit included or added to a life insurance policy with a rider that allows the policy owner the right to receive a portion of the death benefit as defined in the policy if the insured becomes terminally ill and furnishes proof.

J. RETURN OF MORTAL REMAINS — In the event of the death of the Insured Person during the Period of Coverage as a result of an Illness or Injury covered under this insurance while the Insured Person is outside of his / her Home Country, the Company will reimburse the authorized personal representative or the estate of the Insured Person up to the amount shown in the Schedule of Benefits / Limits for the costs and expenses incurred to return the Insured Person's Mortal Remains to his / her Home Country and thereafter to the place of burial or other final disposition (but not including any costs of burial or other disposition); provided, however, that the Company must coordinate and approve all costs and expenses related to the return of the Insured Person's Mortal Remains in advance as a condition to the availability of this benefit; or up to the amount shown in the Schedule of Benefits / Limits for preparation, local burial or cremation of the Insured Person's mortal remains at the place of death in accordance with the commonly accepted cultural and religious beliefs practiced by the Insured PersoOF MORTAL REMAINS — In the event of the death of the Insured Person during the Period of Coverage as a result of an Illness or Injury covered under this insurance while the Insured Person is outside of his / her Home Country, the Company will reimburse the authorized personal representative or the estate of the Insured Person up to the amount shown in the Schedule of Benefits / Limits for the costs and expenses incurred to return the Insured Person's Mortal Remains to his / her Home Country and thereafter to the place of burial or other final disposition (but not including any costs of burial or other disposition); provided, however, that the Company must coordinate and approve all costs and expenses related to the return of the Insured Person's Mortal Remains in advance as a condition to the availability of this benefit; or up to the amount shown in the Schedule of Benefits / Limits for preparation, local burial or cremation of the Insured Person's mortal remains at the place of death in accordance with the commonly accepted cultural and religious beliefs practiced by the Insured Persoof the death of the Insured Person during the Period of Coverage as a result of an Illness or Injury covered under this insurance while the Insured Person is outside of his / her Home Country, the Company will reimburse the authorized personal representative or the estate of the Insured Person up to the amount shown in the Schedule of Benefits / Limits for the costs and expenses incurred to return the Insured Person's Mortal Remains to his / her Home Country and thereafter to the place of burial or other final disposition (but not including any costs of burial or other disposition); provided, however, that the Company must coordinate and approve all costs and expenses related to the return of the Insured Person's Mortal Remains in advance as a condition to the availability of this benefit; or up to the amount shown in the Schedule of Benefits / Limits for preparation, local burial or cremation of the Insured Person's mortal remains at the place of death in accordance with the commonly accepted cultural and religious beliefs practiced by the Insured Persoof the Insured Person during the Period of Coverage as a result of an Illness or Injury covered under this insurance while the Insured Person is outside of his / her Home Country, the Company will reimburse the authorized personal representative or the estate of the Insured Person up to the amount shown in the Schedule of Benefits / Limits for the costs and expenses incurred to return the Insured Person's Mortal Remains to his / her Home Country and thereafter to the place of burial or other final disposition (but not including any costs of burial or other disposition); provided, however, that the Company must coordinate and approve all costs and expenses related to the return of the Insured Person's Mortal Remains in advance as a condition to the availability of this benefit; or up to the amount shown in the Schedule of Benefits / Limits for preparation, local burial or cremation of the Insured Person's mortal remains at the place of death in accordance with the commonly accepted cultural and religious beliefs practiced by the Insured Persoof Coverage as a result of an Illness or Injury covered under this insurance while the Insured Person is outside of his / her Home Country, the Company will reimburse the authorized personal representative or the estate of the Insured Person up to the amount shown in the Schedule of Benefits / Limits for the costs and expenses incurred to return the Insured Person's Mortal Remains to his / her Home Country and thereafter to the place of burial or other final disposition (but not including any costs of burial or other disposition); provided, however, that the Company must coordinate and approve all costs and expenses related to the return of the Insured Person's Mortal Remains in advance as a condition to the availability of this benefit; or up to the amount shown in the Schedule of Benefits / Limits for preparation, local burial or cremation of the Insured Person's mortal remains at the place of death in accordance with the commonly accepted cultural and religious beliefs practiced by the Insured Persoof an Illness or Injury covered under this insurance while the Insured Person is outside of his / her Home Country, the Company will reimburse the authorized personal representative or the estate of the Insured Person up to the amount shown in the Schedule of Benefits / Limits for the costs and expenses incurred to return the Insured Person's Mortal Remains to his / her Home Country and thereafter to the place of burial or other final disposition (but not including any costs of burial or other disposition); provided, however, that the Company must coordinate and approve all costs and expenses related to the return of the Insured Person's Mortal Remains in advance as a condition to the availability of this benefit; or up to the amount shown in the Schedule of Benefits / Limits for preparation, local burial or cremation of the Insured Person's mortal remains at the place of death in accordance with the commonly accepted cultural and religious beliefs practiced by the Insured Persoof his / her Home Country, the Company will reimburse the authorized personal representative or the estate of the Insured Person up to the amount shown in the Schedule of Benefits / Limits for the costs and expenses incurred to return the Insured Person's Mortal Remains to his / her Home Country and thereafter to the place of burial or other final disposition (but not including any costs of burial or other disposition); provided, however, that the Company must coordinate and approve all costs and expenses related to the return of the Insured Person's Mortal Remains in advance as a condition to the availability of this benefit; or up to the amount shown in the Schedule of Benefits / Limits for preparation, local burial or cremation of the Insured Person's mortal remains at the place of death in accordance with the commonly accepted cultural and religious beliefs practiced by the Insured Persoof the Insured Person up to the amount shown in the Schedule of Benefits / Limits for the costs and expenses incurred to return the Insured Person's Mortal Remains to his / her Home Country and thereafter to the place of burial or other final disposition (but not including any costs of burial or other disposition); provided, however, that the Company must coordinate and approve all costs and expenses related to the return of the Insured Person's Mortal Remains in advance as a condition to the availability of this benefit; or up to the amount shown in the Schedule of Benefits / Limits for preparation, local burial or cremation of the Insured Person's mortal remains at the place of death in accordance with the commonly accepted cultural and religious beliefs practiced by the Insured Persoof Benefits / Limits for the costs and expenses incurred to return the Insured Person's Mortal Remains to his / her Home Country and thereafter to the place of burial or other final disposition (but not including any costs of burial or other disposition); provided, however, that the Company must coordinate and approve all costs and expenses related to the return of the Insured Person's Mortal Remains in advance as a condition to the availability of this benefit; or up to the amount shown in the Schedule of Benefits / Limits for preparation, local burial or cremation of the Insured Person's mortal remains at the place of death in accordance with the commonly accepted cultural and religious beliefs practiced by the Insured Persoof burial or other final disposition (but not including any costs of burial or other disposition); provided, however, that the Company must coordinate and approve all costs and expenses related to the return of the Insured Person's Mortal Remains in advance as a condition to the availability of this benefit; or up to the amount shown in the Schedule of Benefits / Limits for preparation, local burial or cremation of the Insured Person's mortal remains at the place of death in accordance with the commonly accepted cultural and religious beliefs practiced by the Insured Persoof burial or other disposition); provided, however, that the Company must coordinate and approve all costs and expenses related to the return of the Insured Person's Mortal Remains in advance as a condition to the availability of this benefit; or up to the amount shown in the Schedule of Benefits / Limits for preparation, local burial or cremation of the Insured Person's mortal remains at the place of death in accordance with the commonly accepted cultural and religious beliefs practiced by the Insured Persoof the Insured Person's Mortal Remains in advance as a condition to the availability of this benefit; or up to the amount shown in the Schedule of Benefits / Limits for preparation, local burial or cremation of the Insured Person's mortal remains at the place of death in accordance with the commonly accepted cultural and religious beliefs practiced by the Insured Persoof this benefit; or up to the amount shown in the Schedule of Benefits / Limits for preparation, local burial or cremation of the Insured Person's mortal remains at the place of death in accordance with the commonly accepted cultural and religious beliefs practiced by the Insured Persoof Benefits / Limits for preparation, local burial or cremation of the Insured Person's mortal remains at the place of death in accordance with the commonly accepted cultural and religious beliefs practiced by the Insured Persoof the Insured Person's mortal remains at the place of death in accordance with the commonly accepted cultural and religious beliefs practiced by the Insured Persoof death in accordance with the commonly accepted cultural and religious beliefs practiced by the Insured Person.

But they start with appreciably lower amounts than with Level Term or Increasing Term policies because the death benefit in the event of the insured's death is decreasing all the time.

Misstatement of Age If the age of the insured is misstated and is not discovered until death of the insured, the insurance company has the contractual right to adjust the death benefit to reflect the face amount that would have been paid with the corrected age and actual premiums paid.