Sentences with phrase «die within that term for»

This is unlike term life insurance where the insured chooses a specific term and must die within that term for their beneficiaries to be paid the death benefit.

Not exact matches

Your payment is fixed for the entire length of the policy and the amount of the payout to your loved ones — if you were to die within the term — is fixed when you buy the policy.

A term policy covers the insured for a stated period of years and pays a benefit only if the insured dies within that term.

Term life insurance is purchased for a defined period; if you die within that period, your family will receive the money from your life insurance policy.

The company promises to pay a death benefit to a beneficiary when the insured dies as long if the insured meets the conditions of the contract (for example, dying within the term period).

The company promises to pay a death benefit to a beneficiary when the insured dies as long if the insured meets the conditions of the contract (for example, dying within the term period).

For their beneficiaries to receive death benefits, traditional term life insurance policyholders must die within the specified term of their policy.

⦁ Return of premium term life provides a refund of premiums for people who don't die within the term.

Term insurance is designed to provide temporary protection for risk of premature death and pays a benefit if the insured dies within the established term perTerm insurance is designed to provide temporary protection for risk of premature death and pays a benefit if the insured dies within the established term perterm period.

For instance the insured could acquire a terminal illness within the term, but not actually die until after the term expires.

A term policy covers the insured for a stated period of years and pays a benefit only if the insured dies within that term.

As you search for a lost policy, keep in mind that if it was a term life insurance policy, then you as the beneficiary collect the benefit only if the insured person died within the term.

For example, if you purchase a ten - year term policy, your beneficiaries would receive the proceeds of your plan if you died within those ten years.

With term life insurance, you pay premiums for a specified term (usually 20 or 30 years), and if you die within that term, the insurer pays your survivors a benefit.

Term life insurance provides coverage for a specific period of time and pays out a death benefit to the beneficiary if the policyholder dies within the term of the polTerm life insurance provides coverage for a specific period of time and pays out a death benefit to the beneficiary if the policyholder dies within the term of the polterm of the policy.

Your payment is fixed for the entire length of the policy and the amount of the payout to your loved ones — if you were to die within the term — is fixed when you buy the policy.

You really put out a lot less for term insurance and if you died within the term period you had made the correct decision when you bought term.

You own $ 1,000,000 of term life insurance for a specific period of time and you die within that period the life insurance company pays $ 1,000,000, as long as you keep paying the premiums.

Death / Accidental Total Permanent Disability: If the insured dies within the policy term or gets accidental total permanent disability (ATPD), he will be eligible for the higher of sum assured plus non-guaranteed revisionary bonuses and terminal bonuses, if any or 105 % of all premiums paid as on date of the death.

The policy only covers you for a specified number of years, and if you don't die within the term, you recover nothing.

Death Benefit: The policy covers the insured till 100 or 85 years of age and in case the insured dies within policy term, the nominee shall be eligible for a sum assured payable on death that is higher of sum assured on maturity or 11 times annualized premium or 105 % of all premiums paid till the date of death

The chances of a young, healthy person dying within the next 10 or 15 years is so small that an insurance company can afford to let them pay around $ 20 a month for up to $ 500,000 of term insurance.

For example, a 20 - year term life policy will provide benefits to the surviving spouse if the person dies within 20 years from the start date of the policy.

This type of insurance is strictly for meeting your family's needs should you die within the term period.