Sentences with phrase «disability waiver»
A "disability waiver" is a legal document that allows a person with a disability to waive or give up certain rights or protections. It is usually used to give the person with a disability the opportunity to receive certain benefits or services that they may not be eligible for otherwise. Full definition
The coverage on these plans can range from $ 100,000 up to $ 5 million, and policyholders may also choose to add an optional disability waiver of premium rider.
burialinsuranceplans.org
There is also an optional disability waiver for those who are age 55 and younger.
Both Term and whole life insurance policies have optional riders such as disability waivers, spouse riders, children's riders, additional accidental coverage, and so forth.
Disability waiver of premium riders typically cost $ 10 to $ 20 per month extra on top of your regular premium.
It is important to note that the optional disability waiver is not available under the spouse life insurance plan.
Available riders include Disability Waiver of Premium, Children's Term, Living Benefits Rider, and an automatic premium loan option which can take a small loan from the policy to keep it in force when payments are missed.
An additional disability waiver is also available.
MetLife's GLT coverage comes with a rider option called a Non-Convertible Disability Waiver of Premium, which waives all base premiums of the policy if the policyholder were to become disabled for at least six months.
Riders Available: Waiver of Premium, Total Disability Waiver, Accelerated Death Benefit, Paid - Up Option
This type of coverage also comes with the option to purchase a Convertible Disability Waiver of Premium, which carries over to a whole life policy — without additional underwriting — if the GUL term coverage is converted.
Life Insurance policy riders are available under the AICPA plan and include accidental death and dismemberment and waiver of contributions, also known as disability waiver of premium.
Your standard riders are available, including disability waiver of premium, children's insurance, and accelerated death benefit.
An additional disability waiver is also available.
Optional Disability Waiver — If an insured becomes totally disabled, he or she may continue this life insurance plan with no additional contributions.
A disability waiver of stipulated premiums and child rider may also be available.
ANICO Signature IUL offers several different riders, such as Accelerated Benefit Riders, Guaranteed Increase Option Rider, Overloan Protection Rider, Disability Waiver of (Minimum or Stipulated) Premium, ANICO Signature Term Rider and Children's Term Rider.
If you don't have a long - term disability policy or the savings to cover a period of unemployment, a disability waiver of premium could help you save money during those rough few months to years.
A disability waiver allows the insured to skip paying monthly premiums in the event that he or she suffers a loss of income due to disability.
Disability Waiver of Premium Rider — A waiver of premium rider allows all premiums to be waived if you become totally disabled.
Case Study Marcia, a yoga instructor, bought a life insurance policy with a disability waiver of premium rider.
They have a child insurance rider, a disability waiver of premium rider, and a terminal illness accelerated death benefit rider.
Disability Waiver of Premium Rider: the waiver of premium rider waives the monthly premium due.
There are two separate types of waiver riders available: the Disability Waiver of Policy Charges Rider and the Disability Continuation of Planned Premiums Rider.
Disability Waiver of Monthly Deduction Rider — premium is waived if you become totally disabled before age 65.
Disability Waiver of Premium — premium is waived if you become totally disabled for 6 months or more.
A disability waiver of premium rider stipulates that if you become totally disabled for a specified period of time, you don't have to pay premiums for the duration of the disability.
If you become disabled and your income declines or disappears for a period of time, a disability waiver of premium can ensure that your life insurance policy will remain in force.
There are several benefit riders that can be attached to your policy including; critical illness, disability waiver of premium, disability income, and / or additional persons coverage for a spouse or children.
Some Whole Life policies include a disability waiver / rider feature that will pay your premiums for you if you were to suddenly become disabled.
The disability waiver of premium rider stipulates that if you become disabled — meaning you can't work for a paycheck because of a medical condition — you don't have to pay your life insurance premiums until the disability ends.
A disability waiver of premium rider allows you to keep your life insurance policy without worrying about how you're going to pay for it while you're out of work.
In Oregon, the rider form numbers are as follows: Accidental Death Benefit: 208 - 200; Children's Insurance: 208 - 247; Chronic Care Rider: ICC13 -231-72; Disability Waiver of Premium: 208 - 225; Living Benefits: 206 - 496.27; and Spouse's Paid - Up Insurance Purchase Option: 205 - 375.
Policies can be customized with riders such as children's term rider, accidental death benefit, disability waiver of premium and more to suit your individual needs.
If a policyholder becomes unable to pay monthly premiums because of loss of income stemming from a disability, a disability waiver rider allows the premiums to be skipped without the policy being canceled until the policyholder recovers.
Disability waiver of premium — waives premiums when a policy owner suffers a long - term disability, typically one lasting six months or longer
A disability waiver of premium rider stipulates that if you become totally disabled for a specified period of time, you don't have to pay premiums for the duration of the disability.
Disability waiver of premium — waives premiums when a policy owner suffers a long - term disability, typically one lasting six months or longer
Numerous other features include a child rider and disability waiver that lets you purchase term life insurance for dependents no older than 20 years old.
Disability Waiver of Premium Rider: Waives premiums owed if insured is disabled for 6 months or more.
Disability waiver of premium — this writer waves the premium should you become disabled for six months or more.
Some Whole Life policies include a disability waiver / rider feature that will pay your premiums for you if you were to suddenly become disabled.
There are several benefit riders that can be attached to your policy including; critical illness, disability waiver of premium, disability income, and / or additional persons coverage for a spouse or children.
Living benefits and disability waiver of premium riders are also available.
You can also get bonus features like accelerated death benefit (pays 92 percent if your life expectancy is 12 months or less) and a disability waiver, which means you will not have to pay your coverage premiums for the duration of your disability.
Optional riders available are; Enhance Care Benefit Rider, Acceleration of Death Benefit Rider, Applicant's Waiver of Premium Benefit Rider, Disability Waiver of Premiums Benefit Rider, The Enricher Rider, Accidental Death Benefit Rider, Flex Term Rider, Guaranteed Insurability Rider, and Children's Term Rider.
If you become disabled and your income declines or disappears for a period of time, a disability waiver of premium can ensure that your life insurance policy will remain in force.
Disability Waiver / Rider (Waiver of Premium) is a feature that will pay your premiums if you were to suddenly become disabled.
These options include a disability waiver (available on the CPA Plan, but not on the Spouse Life plan), as well as an Accidental Death and Dismemberment (AD&D) coverage, and an accelerated death benefit option feature for terminal illness.