Sentences with phrase «dies during the life of the policy»

If you're not completely sure what term insurance means, then to put it simply, it is a life insurance which solely covers death benefits and which is only payable if you die during the life of the policy.

When / if the primary insured dies during the life of the policy than the death benefit will be paid to the beneficiary.

Not exact matches

If you die during the grace period, your beneficiary will receive the full value of the death proceeds of your life insurance policy minus any premium that is owed to your life insurance company.

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).

Like traditional life insurance, the death benefit of a second - to - die policy can ensure your beneficiaries receive a minimum amount of money, even if savings and other retirement income is spent during the lives of you and your spouse.

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).

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

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.

When you purchase a Return of Premium (ROP) life insurance policy, if you die during the term, your beneficiaries receive the death benefit.

The top 10 best life insurance policies are true «life» insurance, since the first beneficiary of the policy is you — the insured — during your life, and not only after you have died.

if «X» included his wife in joint life term insurance (eg.bajaj allianz offering inclusion of wife) then wife of «X» died during pregnancy due to some jaundice or any other disease (in policy tenure of his husband), will «X» get sum assured amount?

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.

Most life insurance applications include a medical exam to help the carrier assess your risk of dying during the term of the policy.

If the policy holder dies during the life of the contract, the beneficiary will receive the face amount of the policy.

If you were to die during the first few years of the policy, most life insurance companies will generally issue a refund of your premiums to your beneficiaries in lieu of the actual death benefit.

Term life insurance policies pay the beneficiary the face amount of the life insurance policy if the insured person dies during the term of the policy.

For example, a 15 - year term life policy with a face amount of $ 250,000 would pay $ 250,000 to the beneficiary if the insured died any time during those 15 years.

If the life insurance premium has been paid for a minimum term of two years, and if the insured dies during the term of the life insurance policy.

Term life insurance assumes the risk that the policyholder will die during the policy's term - typically between 10 and 30 years and, therefore, the premiums remain the same throughout the entire term of the policy.

There isn't enough information for me to know why the insurance was purchased on the child, but hopefully it was to protect the child's interests later in life rather than a «benefit» to the owner / beneficiary of the policy if the child dies during their formative years.

If this person dies during the contract, the life insurance company would pay a benefit to the beneficiaries of the policy.

If you were to die during the first few years of the policy, most life insurance companies will generally issue a refund of your premiums to your beneficiaries in lieu of the actual death benefit.

Most term life insurance policies have a monthly premium that will not change throughout the term of the policy and a fixed lump sum payout if you die during the term period.

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.

If the life insured dies during the term of this LIC online term plan chosen by him at the starting of the plan, the death benefit is paid which is equal to the Sum Assured chosen by the policyholder at the time of inception of the policy

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.

If you were to die at any time during the life of your mortgage, the policy will pay out a benefit, but it's the lender - not your family - that's the beneficiary.

The reason for these coverage limits is based on the same logic life insurance carriers use for classifying citizens: the higher the risk of dying during the term of a life insurance policy, the more concerned the carrier is.

If you die during the contestability period and your misrepresentations come to light, then the life insurance company may cancel the policy, refuse to pay the death benefit, or subtract money from the death benefit based on the amount of premiums you should have paid.

Also called classifications, a life insurance rating is essentially a measurement of how risky you are to insure, based on how likely you are to die during your policy's term.

Term life insurance is straightforward: The policy lasts for a set number of years, and if you die during that time, the death benefit is paid out.

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).

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).

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.

Term life insurance is a less expensive life insurance option and a good choice when you are on a budget because it is temporary and only pays a death benefit to beneficiaries of the policy if the insured dies during the limited term of the policy.

The longer you are expected to live, the less likely you are to die during the term of the life insurance policy.

Term life insurance, as the name suggests, is a life insurance policy that covers a set number of years and would pay the lump sum death benefit to the beneficiary if the insured person died during the term of the policy.

As the name implies, this rider will allow term life insurance policyholders to recover all or part of their premiums paid over the life of the policy if they do not die during the stated term.

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.

Therefore, if you do not die during the initial term of the policy, you will typically have no life insurance, not have enough life insurance, or pay way too much for the life insurance.

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.

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).

When you purchase a Return of Premium (ROP) life insurance policy, if you die during the term, your beneficiaries receive the death benefit.

The policy will only pay out if the life insured dies during the term of the policy.

But among the types of life insurance, one breaks out of that conventional wisdom: Return - of - premium life insurance promises to refund the money you paid if you don't die during the policy term.

In contrast, to say a 30 - year term life insurance policy, which pays a death benefit only if the insured dies during a specified period of 30 years, a whole life policy provides for the payment of a death benefit regardless of when the death occurs in someone's life.

That it's not all bad news when it comes to the graded death benefit policies because in most cases, if an insured dies from «natural» causes during the graded death benefit period, most guaranteed life insurance policies (or at least the ones we offer here at TermLife2Go) will have some «reimbursement program» whereby the insured's beneficiary will receive back some if not all of the premium payments that the insured paid plus some type of additional interest earns as well.

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).

Term life insurance is not permanent, and insurance companies calculate that the chances of an insured person dying during the policy's active years is lower if the insurance will only last for a limited amount of years.