Sentences with phrase «die life insurance policies pay»

First to die life insurance policies pay out the death benefit solely on the first named insured that dies.

Not exact matches

In basic terms, mortgage life insurance pays off your mortgage balance if you die while the policy is in effect.

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.

Basically, someone with a terminal disease would sell his or her life insurance policy at a discount so they could have money to pay medical bills and what not and then when that individual died, the buyer would cash in the full amount of the policy.

When you purchase term life insurance, you agree to pay recurring premiums in return for the commitment by the insurance company to pay a death benefit if the insured happens to die during the term that the insurance policy is in effect.

If you have a life insurance policy, and you've been keeping up with your premiums, your insurer will pay out a death benefit when you die.

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.

Like term life insurance, whole life insurance policies pay a death benefit if you die while your policy is in force.

Term life insurance is a type of life insurance that only pays out a death benefit if the policyholder dies within the term of the policy.

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.

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.

When you purchase term life insurance, you agree to pay recurring premiums in return for the commitment by the insurance company to pay a death benefit if the insured happens to die during the term that the insurance policy is in effect.

Basically, the death benefit is how much the life insurance policy pays to your beneficiary, untaxed and in a single lump sum, should you die.

When you consider the fact that two single life policies pay twice compared to once with joint first - to - die life insurance, it makes more sense to go with single life policies.

Term life insurance policies pay a death benefit if the insured person dies within the policy term, such as 10, 20, or 30 years.

While life insurance rates will vary according to your particular health and risk profile, term policies are typically the least expensive form of coverage, since they only pay out if you die during a certain period of time (the «term» of the policy).

With a life insurance policy, if the insured person dies, the life insurance company will pay out a death benefit to the beneficiaries.

This voluntary protection product, available from CMFG Life Insurance Company through CEFCU, reduces or pays off your insured loan balance up to the policy maximum should you die before the loan is repaid.

Life Insurance is a type of insurance policy that will pay out an amount of money to your beneficiaries when you die as long as the premiums have bInsurance is a type of insurance policy that will pay out an amount of money to your beneficiaries when you die as long as the premiums have binsurance policy that will pay out an amount of money to your beneficiaries when you die as long as the premiums have been paid.

The death benefit from a second - to - die life insurance policy could help pay those taxes.

These second - to - die life insurance policies will pay out the proceeds following the second of two insureds to pass away.

A Life Insurance with Single - premium benefits is a type in which the premium is paid in lump sum to the policy to which in return death benefits are promised to be paid until the policyholder die.

In most cases, life insurance policies are purchased to replace lost income and pay for funeral and memorial expenses if you or your spouse dies.

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.

Back in the day, any form of flying was considered extremely hazardous and most life insurance companies would either force the applicant to pay an exorbitant amount or they would add an aviation exclusion clause to the policy, in other words, if you died as the result of a plane crash, your beneficiaries wouldn't receive the death benefit.

However, some life insurance companies have recently begun offering «beginner» life insurance policies that are inexpensive, but only pay a death benefit if you die because of an accident.

In other words, with whole life you can keep the coverage until you die and you probably won't pay premiums on the policy later in life, particularly if you chose limited pay life insurance.

Life insurance pays your beneficiaries a substantial cash benefit should you die during the term of the policy — essentially protecting them against the risk that you might die prematurely, placing them in financial jeopardy.

If you have an outstanding loan on your whole life insurance policy when you die, the death benefit that is paid out to your beneficiary (or beneficiaries) will be reduced by the unpaid amount of..

For example, if you were to have a $ 250,000 life insurance policy and were to die as a result of an accident, your policy would pay out $ 500,000.

Suicide Clause: A life insurance policy provision that states if the insured dies by suicide within a certain period of time from the date of issue (usually two years) the amount payable would be limited to the total premiums paid minus any policy loans or outstanding premiums.

Mortgage Life Insurance A type of term life insurance In the event that the borrower dies while the policy is in force, the debt is automatically paid by insurance proceLife Insurance A type of term life insurance In the event that the borrower dies while the policy is in force, the debt is automatically paid by insurance Insurance A type of term life insurance In the event that the borrower dies while the policy is in force, the debt is automatically paid by insurance procelife insurance In the event that the borrower dies while the policy is in force, the debt is automatically paid by insurance insurance In the event that the borrower dies while the policy is in force, the debt is automatically paid by insurance insurance proceeds.

Basically, someone with a terminal disease would sell his or her life insurance policy at a discount so they could have money to pay medical bills and what not and then when that individual died, the buyer would cash in the full amount of the policy.

The company or carrier is responsible for financially managing the shared pool of life insurance money available for pay out if you or another member dies while owning their policy.

If you die during the term of your life insurance policy, or you are diagnosed and are eligible to claim for a terminal illness, a lump sum will be paid.

The mortgage lender will have no involvement in a mortgage life insurance policy whatsoever, apart from the obvious fact that the loan will be paid in full when you die.

Often called second - to - die life insurance, a survivorship whole life insurance policy is designed for two people, and pays the death benefit with the second person dies.

Mortgage Life Insurance — an insurance policy specifically issued to pay off mortgage debt in the event the policy holInsurance — an insurance policy specifically issued to pay off mortgage debt in the event the policy holinsurance policy specifically issued to pay off mortgage debt in the event the policy holder dies.

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.

If you die, the insurance policy pays out enough money for your surviving spouse to buy a new annuity on their life at that time.

A $ 500,000 term life insurance policy pays your beneficiaries $ 500,000 whether you die tomorrow, or 15 years from now.

If you have a life insurance policy with your super, your super fund will pay a sum of money to your dependants when you die.

Even if you don't have a life insurance policy with your super, the amount of super you have will be paid out, usually to your dependants, when you die.

An effective and relatively inexpensive life insurance policy that covers two people but only pays on the last survivor's death is called joint last - to - die life insurance.

If you buy a term life insurance plan and die during the policy term, then your beneficiary will be paid your benefit payment.

And here's the bottom line: all life insurance policies promise to pay an agreed - upon sum of money should you die while your policy is in - force (that is, while you're paying your premiums on time and while you're still operating within the terms of your contract).

With last - survivor or second - to - die life insurance, the death benefit is paid after the second person covered under the policy dies.

An accelerated death benefit rider lets you use money normally allocated for a death benefit (the amount a life insurance policy pays out) before you die.

You can think of a longevity annuity like buying a life insurance policy that pays off not when you die, but when you reach a certain age.