Sentences with phrase «die policies pay»

In contrast, second - to - die policies pay out after both you and your partner have died.

If you die your policy pays a lump sum death benefit to your beneficiary but if you are unable to perform 2 of 6 activities of daily living your LTC insurance provides a cash benefit to you for long term care needs in a nursing home, assisted living facility, or in home care.

Not exact matches

When it is time for either college or retirement, the policy holder can borrow money from the cash value and pay it back with the death benefit when they die.

Specifically, Hunt recommends a survivorship - whole life or - universal life policy, more commonly called a second - to - die policy, since it pays out to heirs only after both parents pass away.

Such policies also pay out a death benefit to your heirs when you die, but they are far more expensive than term life.

However, the policy only pays a death benefit if you die due to a covered accident, such as a plane crash or sudden fall.

If this is the case, your policy would pay out if you died in a car or plane crash, but not if you passed away from cancer or a heart attack.

In addition, some mortgage protection policies will only pay a death benefit if you die from an accident, similar to accidental death insurance.

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

If you were to die before paying back your policy loan, the loan balance plus interest accrued is taken out of the death benefit given to your beneficiaries.

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.

For example, if you purchased a 20 - year $ 500,000 level term policy, should you die at any point during the 20 year term due to a covered event (and have paid all premiums) the beneficiary would receive a $ 500,000 payout.

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.

However, when a shareholder dies and the death benefit is paid to a C corporation, the corporation's exposure to the alternative minimum tax (AMT) is increased to the extent that the death benefit exceeds the corporation's basis in the policy.

«Apart from the looted funds that he must return, Fayemi must also visit the families of those teachers who died prematurely as a result of his bad policy of demoting Principal and Vice Principal to class teachers and pay compensation to them.

If you travel frequently, have a high - risk job or participate in extreme sports (for example, skydiving, bungee jumping, auto racing) the insurer will pay additional benefits if you die or are injured in ways specifically defined by the policy.

If you buy an accidental death and dismemberment rider, decide whether the likelihood of dying accidentally justifies the insurance premiums you must pay for the policy.

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 you die as the direct result of a vehicular, air, or sea accident that you did not deliberately cause, your insurer will pay your beneficiary the accidental death benefit, which is normally twice the value of your insurance policy's face value.

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.

If the insured dies while receiving total disability benefits, the policy pays the basic monthly benefit to the owner or owner's estate for up to three months after the insured's death.

They pay $ 11,000 annually in premiums — $ 8,000 for a $ 300,000 whole life policy with a last - to - die provision and $ 1,300 for a $ 1.3 - million term life policy for Sheila.

This is because the coverage is temporary and only pays out if the policyholder dies while the policy is in effect.

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.

In the above example, if the policyholder died five years into a 20 - year term policy, it would pay out $ 5,000 a month for the next 15 years; if the death occurs 10 years into the policy, the monthly $ 5,000 would be paid out for 10 years, and so on.

Benefits are paid only if you die during the policy's term.

This policy is paid up at age 100, so you pay premiums until you die or reach 100.

You pay a premium (payment) in return for a death benefit (the lump sum that will be paid to your survivors if you die while the policy is in force).

A mortgage life and disability policy will not only pay off your mortgage if you die, it will also make your mortgage payments if you are disabled or lose your job.

Increased IRR: limited pay policies may also create a better internal rate of return (IRR), providing superior long - term growth in comparison to ordinary whole life that you pay premiums on until you die.

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.

However, the policy only pays a death benefit if you die due to a covered accident, such as a plane crash or sudden fall.

If no long - term care benefits are paid, then the policy pays out the full death benefit when the insured person dies.

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.

The product has a very simple formula: if you die, the beneficiaries of the policy get paid.

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

An accidental death and dismemberment policy pays out a death benefit if you die due to a qualifying accidental death or if you are dismembered, such as losing your arms or legs.

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.

It means the policy most likely wouldn't even pay out the death benefit if he were to die.

Do not expect to die with term in force, since 99 % of policies expire without paying a death benefit claim.

A pure accidental death insurance policy pays out a death benefit if you die due to a qualifying accidental death.

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.

Term life only pays out the death benefit if you die occurs during the term of the policy.