If
you die during the terms of the contract, your named beneficiary will receive a million dollar lump sum payment from the insurer.
Life — Endowment - insurance that pays the same benefit amount should the insured
die during the term of the contract, or if the insured survives to the end of the specified coverage term or age.
If
you die during the terms of the contract, your named beneficiary will receive a million dollar lump sum payment from the insurer.
Not exact matches
First
of all, if a person
contracts a terminal illness
during their life insurance
term, but does not
die before their life insurance
term expires, they will be left with a terminal illness and no insurance.
The main reason — it offers bargain - price protection that pays a large benefit to your survivors if you
die during the typical 20 - to 30 - year
term of the
contract.
If the insured
dies during the
term period, the death benefit will be paid to the beneficiary according to the
terms of the
contract.
Term life is straightforward: if you purchase $ 250,000 worth your beneficiary will receive $ 250,000 if you
die during the life
of the
contract.