Sentences with phrase «first life insured»

The benefit payable is Rs 1 crore on death of the first life insured.

If it is a joint life plan, on the death of the first life insured, the sum assured is paid out and the plan continues as long as the second life is alive or till the end of the term, whichever is earlier.

Not exact matches

The first kind is founded on the principle of organizing life to insure maximum satisfaction of human interests or claims.

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If you don't have at least 6 month's worth of your living expenses saved in an FDIC - insured high - yield savings account, that should be your first priority for a portion or all of your newly acquired money.

Effective Coverage can insure nearly any home, but we specialize in first homes for people who have traded apartment life for home ownership.

When the insured is age 70 — or at the end of the guaranteed period of level - premium — whichever occurs first, the insured is allowed to convert the level term life insurance policy over into a whole life insurance or a universal life insurance plan.

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 the insured dies during the «contestability» period of the contract, usually the first two years of the contract's life, payment may be delayed as the insurance company checks the application to make sure there were no inaccuracies, whether intentional or inadvertent.

The Foresters Life first level term insurance plan features either a ten year, 20 years, or a 30 - year level - premium option for insureds.

In the first case he would be called the Life Insured.

First, the fact that they are both permanent life insurance products means that they are intended to last until the insured dies.

Most policies have a 2 - year contestability period, which means during the first two years after buying life insurance, if it is found your insurance policy was issued under misrepresentation, withholding of information by the insured or the owner, or similar reasons, the insurance company can declare your insurance policy and any associated riders void.

We live within the Pensacola area, are licensed, bonded and insured, experienced in animal behavior, trained in holistic animal massage, American Red Cross trained in animal CPR and first aid to ensure the best possible experience you and your pets deserve.

If, however, the insured lives past the first two or three years, and then he or she passes away, the entire amount of the stated death benefit will be paid out to the beneficiary.

Life insurance policies are regulated by the state the insured person lives in, so it depends first on state regulations for life insuraLife insurance policies are regulated by the state the insured person lives in, so it depends first on state regulations for life insuralife insurance.

In 1922, Great Southern Life became the first company in the United States to insure the lives of children.

One of these is the fact many guaranteed acceptance life insurance policies will not pay out the full amount of the death benefit if the insured dies within the first two years of owning the policy.

Primary Beneficiary The person or entity who, at the insured's death, has the first right to receive life insurance proceeds.

Also, these term policies are fully convertible to a permanent life insurance policy — up to the end of the level premium period (or the insured's age 70, whichever occurs first).

Full convertibility to a permanent life insurance policy of the company's choosing, up to the end of the level - premium period or age 75 of the insured, whichever comes first.

While a first to die joint life policy pays out upon the death of the first covered person, a second to die life insurance policy will not pay out benefits until both of the insureds have passed on.

Note: Most life insurance policies contain a «2 year contestability period» which allows the insurance company to investigate any death within the first 2 years of coverage, to ensure the insured person did not lie or misrepresent him / herself on the original application.

Sometimes referred to as joint life insurance, this type of coverage offers death benefit payout either upon the death of the first insured or the death of the second.

In the first to die, the money would be paid out if one of the insureds dies, providing the survivor with necessary funds to pay bills and continue living.

After the life insurance policy has been located, the first step is to contact the life insurance company and let them know that the insured person has died.

Policy benefits will not be paid in case the life insured dies within 7 days of a being diagnosed for the first time, be it carcinoma in situ or major stage cancer.

For the first option, 100 % of the chosen Sum Assured is paid to the nominee immediately post the death of the life insured.

The company was founded by James Batterson and the clients of the company were the first travelers to get insured «for the purpose of insuring travelers against loss of life or personal injury while journeying by railway or steamboat.»

These types of policies offer the advantage of guaranteed level premiums throughout the insured's lifetime at substantially lower premium cost than an equivalent whole life policy at first; the cost of insurance is always increasing as found on the cost index table (usually p. 3 of a contract).

First, the need for life insurance can vary a great deal depending upon the current age and financial responsibilities of the insured.

Whole life policies build up cash value slowly at first, but then pick up the pace after several years, when your earnings start to grow faster than your «mortality cost» (the cost of insuring you).

Select - a-Term coverage from American General / AIG is also convertible over to a permanent life insurance policy up to the end of the level premium period — or age 70 of the insured — whichever happens first.

The first Annuity option is Life Annuity for a Single Life where the annuity will be paid up to the insured's death.

The first installment is paid when the claim is being settled, and the balance eleven installments are paid on each death anniversary of the Life Insured.

Whole life policies offer a choice of having a level benefit (where the policy pays out the face amount and any rider benefits to a named beneficiary upon the insured's death), or a graded benefit (where the policy will pay out a reduced amount of benefit if the insured's death occurs for reasons other than an accident within the first two policy years).

The first thing that you'll want to figure out when deciding on your life insurance policy is how much you want to be insured for.

For its joint whole life policy, the coverage is up to $ 20,000 of protection for ages 18 — 85, with coverage provided for two persons under one policy and one low premium payment providing permanent coverage for the insured and a spouse on a first to die basis.

Usually, a term to age 70 life insurance policy will have level premiums each year for the first 20 years of coverage, then the premiums gradually increases each year thereafter, until the insured is 70 years old.

What that means is if there is a death of the insured in the first two years of the life insurance policy the company will investigate, if there is fraud or a mistake determined the death benefit will be adjusted accordingly or unpaid.

However, if you live beyond the first 2 years you are insured, your beneficiary would be paid the entire death benefit.

First, this type of policy may allow an insured who is young and healthy to purchase quite a bit more coverage than a permanent life policy with the same premium amount.

In the case of a policy insuring the lives of debtors, a provision that the insurer will furnish to the policyholder, for delivery to each debtor insured under the policy, a certificate of insurance specifying that the death benefit will first be applied to reduce or extinguish the indebtedness.

All life insurance policies have a standard suicide provision that states there will be no insurance proceeds paid in the event that the insured commits suicide within the first 2 policy years.

First Symetra Group Life Insurance is insured by First Symetra National Life Insurance Company of New York, New York, NY.

Group Disability Income Insurance is insured by First Symetra National Life Insurance Company of New York, New York, NY.

The first few pages of a life insurance policy are basically a high - level summary of the coverage and details of the insured.

Under the suicide clause, the life insurance company will not pay the death benefit and will return premiums if the insured commits suicide within the first two years of the policy.

This is a graded benefit whole life insurance policy, which means that during the first two years of policy ownership, the benefit for death of the insured by natural causes will be a refund of the premiums paid in, plus interest.

The very first step you need to make is contact an experienced life insurance professional to help you so you don't waste any time and to insure you make the best decision when you finally purchase your new life insurance plan.