Sentences with phrase «face value of the death benefit»

Upon the policyholder's death, usually the insurer pays the face value of the death benefits for whole life insurance policies.

If there are any loans against the life policy, then these amounts will reduce the face value of the death benefit when the insured passes away.

In other words, your family can receive more that the face value of your death benefit.

If you already have a term life insurance AD&D this insurance policy can be added on top as a low - cost addition / endorsement / rider and pays out twice the face value of the death benefit to your beneficiaries.

Nonetheless, it can absolutely be considered as an endorsement to a standard term life, as it doubles the face value of the death benefits paid out to your beneficiaries.

When a claim is filed and a payout is processed, the insurance company will pay you the face value of your death benefit minus the outstanding balance of your loan.

Not exact matches

In the case that you pass, the policy beneficiaries should file a claim with the insurer, after which point the circumstances of your death will be reviewed and receive the payout (also called a death benefit or the face value of the policy) so long as everything is in order.

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).

The percentage of the death benefit you can receive is generally less than 50 %, what qualifies as a terminal illness varies depending on your policy, and the payout you receive may be deducted with interest from the face value of your policy.

The payment of the accelerated death benefit reduces the stated face amount and stated cash value.

If you die as the direct result of a vehicular, air, or sea accident that you did not deliberately cause, your insurer will pay your beneficiary the accidental death benefit, which is normally twice the value of your insurance policy's face value.

You pay a flat premium over the duration of the policy, but the face value (death benefit) of the policy decreases over time.

Payment for the face value of the insurance policy or death benefits, which your beneficiary or beneficiaries will receive after you pass away

In the case that you pass, the policy beneficiaries should file a claim with the insurer, after which point the circumstances of your death will be reviewed and receive the payout (also called a death benefit or the face value of the policy) so long as everything is in order.

The percentage of the death benefit you can receive is generally less than 50 %, what qualifies as a terminal illness varies depending on your policy, and the payout you receive may be deducted with interest from the face value of your 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).

So, if you had a $ 500,000 death benefit and your insurer capped the amount you could accelerate at «the lesser of $ 250,000 or 75 % of the policy's face value», you could request up to $ 250,000 while still living.

Whole life requires the policy owner to pay a fixed monthly premium for the rest of their life, and upon death, the company will payout the face value of the policy (death benefit) to the beneficiary.

The death benefit can also be defined as the face value or face amount of a life insurance policy.

With Custom Advantage, the underwriting process can take between 1 to 6 weeks, but you have the benefits of being able to choose any face value (death benefits can be over $ 1 million) and paying lower premiums for comparable coverage.

Not only would your beneficiary receive the death benefits, or «face value» of the life insurance policy, but you are also accumulating a «living» benefit — the cash value that accumulates in the saving / investment component of your policy.

As long as you're paying your premiums, the death benefit will always be equal to the face value of the insurance your purchased.

Although the face value (death benefit) is typically smaller than that of a traditional life insurance policy, so are the premiums.

This rider doubles the face value death benefit of your policy in the event that your death is the result of an accident.

When you pass away, the death benefit your loved ones receive will be the face value of the policy.

It may allow you to receive more money than if you cancelled or surrendered the policy for its cash value, but less than the face value — or death benefit — of the policy.

Although the largest policy in the portfolio (by face value) matured during the period, a large proportion of the total death benefit remains linked to a relatively small proportion of lives.

As long as you're paying your premiums, the death benefit will always be equal to the face value of the insurance your purchased.

Should you die while the policy is in force, your beneficiaries will receive not only your the initial face value as a death benefit, but also it's common for dividends to buy additional insurance by way of what are called «paid up additions», so the death benefit could actually be higher than the face value at the purchase of the policy.

When you are trying to figure out what you will receive in terms of face value for the policy, the face value is the amount of the death benefit provided.

The life insurance cash value is the amount of money you are given if you cancel (surrender) the policy before you die, while the face amount (death benefit) is the amount your beneficiaries will be paid upon your death.

• Accidental Death Benefit Rider — If you should die as a result of a covered accident, additional death benefits are payable equivalent to the face value of the policy (minimum amount must be $ 25,000) and will be payable to a maximum of $ 250Death Benefit Rider — If you should die as a result of a covered accident, additional death benefits are payable equivalent to the face value of the policy (minimum amount must be $ 25,000) and will be payable to a maximum of $ 250death benefits are payable equivalent to the face value of the policy (minimum amount must be $ 25,000) and will be payable to a maximum of $ 250,000.

When you borrow any portion of the cash value from your Whole Life policy, the outstanding loan will reduce the face value (or death benefit) until the withdrawn funds are repaid with interest.

AD&D Insurance has all of the same benefits as Accidental Death Insurance listed above — plus coverage for serious injury as listed below, and is a percentage of the face value:

Will pay an additional lump sum death benefit, the equivalent of 100 % of the face value of the policy, if death occurs by a covered accident.

All permanent life insurance policies provide a cash value feature that grows tax - deferred, but the cash value is different than the death benefit, or face value of the policy.

Level benefit means once the policy has been issued, the insured's beneficiaries are eligible for the full face value immediately after death of the insured occurs with no reduction in the face amount otherwise known as the death benefit.

(Note: The cash value of a policy is not the same as the face amount that's paid out as a death benefit to your beneficiaries.

Death in year three or later will result in the policy paying out the full face value also known as the death benefit of the poDeath in year three or later will result in the policy paying out the full face value also known as the death benefit of the podeath benefit of the policy.

Payment for the face value of the insurance policy or death benefits, which your beneficiary or beneficiaries will receive after you pass away

You can choose the product to come 3 different ways, one way is fixed with the death benefit being 100 % of the face value from the start.

Upon the death of the insured person the Life Insurance beneficiary gets the death benefit equal to the face value of the policy, which is free of income tax.

The buyer (funder), usually an investment company, pays the patient a lump sum of 50 — 80 percent of the policy's face value, pays the premiums until the patient dies, and receives the death benefit.

With a level plan, the death benefit is the face value of the plan, with a graded plan on the other hand, you only have 30 % of protection in the first year and then 70 % in the second year.

It may allow you to receive more money than if you cancelled or surrendered the policy for its cash value, but less than the face value — or death benefit — of the policy.

Although the face value (death benefit) is typically smaller than that of a traditional life insurance policy, so are the premiums.

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).

Since most AD&D payments usually mirror the face value of the original life insurance policy, the beneficiary receives a benefit twice the amount of the life insurance policy's face value upon the accidental death of the insured.

The percentage of the death benefit you can receive is generally less than 50 %, what qualifies as a terminal illness varies depending on your policy, and the payout you receive may be deducted with interest from the face value of your policy.

People who have a serious health problem may receive a policy with a «graded death benefit,» which means the coverage amount increases over time and your beneficiaries won't receive the full face value if you die within the first few years of the policy.