Sentences with phrase «die policy guarantees»

If the surviving spouse wishes to purchase life insurance after the death benefit has been paid, they must apply for another policy (unless a clause in the first - to - die policy guarantees that the joint policy will convert into an individual one).

Not exact matches

Designed to provide a survivorship life insurance solution for clients seeking strong protection and accumulation guarantees, this new second - to - die whole life product can cover two lives more cost effectively than two comparable individual policies.

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.

Guaranteed universal life is arguably the most popular product for second to die because these policies are set up to offer an inexpensive permanent death benefit, which is a key part of the second to die policy appeal.

Generally, most second to die policies are offered either as guaranteed universal life OR indexed universal life policies.

With the other types of guaranteed universal life you risk the policy expiring before you die if you outlive the coverage end date.

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.

If you die within two years of buying your guaranteed life insurance policy, you don't get the full death benefit amount.

A very common approach is to use a second to die life policy OR a guaranteed universal life policy to fund a stand alone special needs trust upon the trustmaker's death.

The crediting guarantee kicks in after you die, at policy termination or surrender.

A lump sum of money is paid into the policy in return for a death benefit that is guaranteed until you die.

But the notable lack of any kind of strategic industrial, labour & (re) training policies has failed much of the workforce — from workers in dying industries abandoned to the depredations of unions («once a steelworker, always a steelworker»), all the way to students who still believe 4 years of college & a back - breaking student loan somehow guarantees their future.

The trade - off is that you are guaranteed a substantial death benefit for the heirs when both insured individuals die, and there is no worry about the policy lapsing.

A typical term life insurance coverage policy guarantees a set dying benefit.

One of these is the fact many guaranteed acceptance life insurance policies will not pay out the full amount of the death benefit if the insured dies within the first two years of owning the policy.

ROP guarantees your beneficiary will receive a death benefit should you die during the term life insurance policy.

While there are several options that can vary from policy to policy, when you receive term insurance quotes, the premium will reflect a guaranteed amount that will be paid in the event that you die before the policy expires.

For many guaranteed issue policies, if you die within two years of getting the policy the only pay - out may be a refund of your premium payments.

An advisor recently called me regarding a client who has a $ 2.5 million second - to - die guaranteed universal life policy.

Certain Death Benefit: Beneficiaries are generally guaranteed a death benefit no matter when the insured dies, so long as the policy is active.

Guaranteed issue whole life insurance with a 2 year graded death benefit limitation — If you die in the first two years the policy will return your premium plus a small percentage on top of the premium you paid.

As a general rule, guaranteed survivorship universal life insurance is the absolute best type of second - to - die policy to purchase.

When approved for a mortgage protection policy, you have a legal contract with an insurance company that guarantees your beneficiaries will be cared for when you die.

And, if you die shortly after you buy a guaranteed issue life insurance policy, your beneficiary will receive only the premiums paid and possibly some interest, depending on the company that issued the policy.

For example, if you purchased a guaranteed issue whole life policy with a graded death benefit for $ 10,000, the payout if you died in year 1 may be 100 % of premiums paid in plus 20 %.

If your business partner dies, a life insurance policy can guarantee that cash will be available to fulfill the terms of your buy - sell agreement.

Are looking for a policy with a guaranteed death benefit — a «when you die» policy, not an «if you die» scenario

The two most common last - to - die policies are traditional whole life and lifetime guaranteed survivorship universal life insurance.

You pay a premium and in return the insurer guarantees to pay your beneficiary a lump sum of money if you die while the policy is in effect.

Endowment insurance policies guarantee that a sum of money will be given to you or your beneficiaries whether you live until the insurance policy matures or you die early.

Based on the policy you get (and whether you've kept up with its premiums), if you die, your beneficiaries receive a death benefit in a guaranteed amount.

A life insurance policy is designed to pay out a cash lump sum if the person (s) insured dies during the term of the plan; this will guarantee that the beneficiaries will not be faced with financial difficulties even though they now face a loss of income.

Customers pay a monthly premium that guarantees cash payment to their beneficiaries if the policyholder dies during the term of the policy.

The amount of coverage is calculated when the policy is purchased, with the guarantee that the real cost of burial won't exceed the covered amount regardless of when the policyholder dies.

In case the insured dies after the completion of first 5 years of the policy, the nominee of the policy receives the basic sum assured + accrued guarantee addition + simple reversionary bonus + final reversionary bonus (if any), which can be paid as a lump - sum or as an annuity, or as a combination of two.

In addition to higher premiums, insurance companies that issue guaranteed life policies protect themselves against risk in two additional ways: (1) by offering relatively low payouts, and (2) by typically not providing a death benefit during the first two years after issuing the policy (if the policyholder dies during this time, the company issues a refund of premiums instead).

Depending on the guaranteed life insurance policy and the company you acquire it from, death benefit payments could be denied or forfeited if the policyholder dies within the first 24 months of policy activation.

It is important to note that with this guaranteed issue policy, there is a reduced amount of death benefit paid out to the policy's named beneficiary if the insured dies within three years of purchasing the policy.

Many policies contain guarantees that will refund the cost of the life insurance, in addition to paying the death benefit, should you die within a year of buying your policy.

ROP offers lower premiums and a guaranteed refund of the life insurance premiums paid during the term of the policy, provided the insured doesn't die prior to the end of the term period.

We have clients that want a guarantee that their policy will be around when they die.

Additionally, should you die during this «waiting period» of natural causes (any cause of death due to illness) your guaranteed issue life insurance policy WILL NOT pay the death benefit of the policy.

If you want to be guaranteed that your life insurance policy will be in force the day you die, term insurance can not make that guarantee.

Our Term Life Insurance policies help guarantee your loved ones a death benefit if you die while the policy is in force.

The permanence makes the plans more of a risk to the insurance company because we will all probably die sometime between now and age 121, meaning they are guaranteed to have to pay your loved ones the full value of your policy.

If a covered business owner dies, a life insurance policy can guarantee that the liquid funds will be available to fulfill the terms of the agreement.

For example, if you die within the first 2 years of purchasing Colonial Penn's guaranteed acceptance policy, your beneficiary just receives the sum of your premium payments plus 7 % interest compounded annually.

Applicants ages 45 to 85 can qualify for the guaranteed issue product automatically, but if the insured dies during the first two years, AAA will not pay out the full policy amount, unless the death is accidental.

And if you do purchase a guaranteed life insurance policy but die before the initial two years, your beneficiaries will still get more money from the policy than had the same money just been sitting in a savings account.

If you die any time less than two years from the day of purchasing your guaranteed life insurance policy, then most of the time your beneficiaries will get the amount that you have paid towards the policy.