Sentences with phrase «dies during the coverage period»

The beneficiary receives payouts if the policyholder dies during the coverage period, but not if he lives beyond it.

Not exact matches

Term life insurance provides affordable coverage for a defined period of years, with its primary purpose to replace income or help pay off outstanding debts if the insured dies during that time.

«Currently insured» means you have acquired at least six quarters of coverage during the last thirteen - quarter period when you either died or became eligible for disability benefits.

A term life insurance policy offers coverage for a specified period of time, meaning that if you die during the term of the policy the beneficiary will receive the specified payout (also known as the death benefit or face value of the policy).

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).

A term life insurance policy offers coverage for a specified period of time, meaning that if you die during the term of the policy the beneficiary will receive the specified payout (also known as the death benefit or face value of the policy).

Because term insurance is simple; designed to only provide coverage for a defined number of years, and pays out if you die during that period it carries less risk than permanent life insurance and is more affordable.

In case the insured dies during the grace period, the insurer is liable to pay the death benefit (coverage amount) to the beneficiary named in the policy, less any amount outstanding (including the unpaid premium).

In other words, the insurance companies know that over an extremely large number of people, very few will die during the initial ten year period and most will drop the coverage or replace their policy before their life expectancy.

Benefits are paid to the designated beneficiaries if the insured dies during the period of coverage.

A term life insurance policy offers coverage for a specified period of time, meaning that if you die during the term of the policy the beneficiary will receive the specified payout (also known as the death benefit or face value of the policy).

Meanwhile, the insurance company, while collecting your premium, will not have to worry about paying your beneficiaries death benefits if you die outside of term life insurance coverage or during a period of policy lapse.

It is important to keep in mind that if the policy owner dies at any time during the term period, simply buying just the traditional term coverage and investing the difference will always provide the greatest return on capital, because in this case the policy owner's estate would not only receive the death benefit but can distribute the invested cash as well.

This is a clause that states that should the insured (meaning you) die from NATURAL CAUSES during a certain period of time immediately after purchasing your life insurance policy (typically 2 to 3 years), the life insurance policy will not pay the death benefit (the insurance coverage amount).

This is life insurance coverage where the benefit is payable only if the insured dies during a specified period.

Because term insurance is simple; designed to only provide coverage for a defined number of years, and pays out if you die during that period it carries less risk than permanent life insurance and is more affordable.

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).

This coverage will provide a benefit to the policy beneficiaries if the covered individual dies during the defined period of coverage.

Term Insurance is a type of life insurance only, a byproduct that implies financial coverage provided to the policy holder for a particular time period; if the insured dies during the term then death benefits are paid to the beneficiary but it ceases if one outlives the set term of the policy.

Term insurance is the simplest form of life insurance plan that offers comprehensive life coverage over a period of time and in case the insured person dies during the tenure of the policy, the guaranteed death benefit is payable to the nominee of the policy.

This coverage will provide a benefit to the nominee, in the event the insured dies during the defined period.

Term insurance is a life insurance policy that provides coverage for a certain period of time where if the insured dies during the time period specified in the policy and the policy is active — or in force — then a death benefit will be paid.