Sentences with phrase «for death of the insured»

It cheapens the value of life, and at its worst, it can provide a financial incentive for some to wish for the death of the insured, a dynamic that contains a dangerous criminal component.

Most states, if not all, have laws on the books that prevent a life insurance beneficiary from collecting the insurance policy if he or she is responsible for the death of the insured.

Benefit for the death of an insured person; such coverage generally provided under a life insurance 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.

After a life insurance premium is missed, a policy will move into grace period status, where while technically delinquent, the insurance company is still responsible for paying a death benefit if a valid claim is filed for a death of the insured during this time.

Not exact matches

A fee included in some annuity contracts that compensates the insurer for the risks it assumes in issuing the contract, such as the cost of death benefits, expenses of other insured income guarantees, and administrative costs.

There are a lot of costs that go into insuring someone including administrative costs, the medical exam and testing costs, and potentially having to pay out a large death benefit, so life insurance companies weigh all the risks for those who apply for coverage.

This made it possible for insured individuals to use a portion of their policy's death benefit when it was needed most without selling it off at a discount.

Another benefit of permanent life insurance is that unless the policy is surrendered prior to death, the policyholder is insured for life.

If nations continue to assert their independence of all higher authority, the end will be either war to the death (for all) or the emergence of a single dominant world power which will maintain by force the minimal order necessary to insure the survival of civilization.

Privately insured children and those with Medicaid at the time of a cancer diagnosis experience largely similar survival trends, with slight evidence for an increased risk of cancer death in children who were uninsured at diagnosis, finds a new study from the Brown School at Washington University in St. Louis.

Protection for your group members — Death benefit is paid in event of death of the life insured by the company to the beneficDeath benefit is paid in event of death of the life insured by the company to the beneficdeath of the life insured by the company to the beneficiary.

Life insurance proceeds, which were paid to you because of the insured person's death, are generally not taxable unless the policy was turned over to you for a price.

Option for benefits to continue even after the death of the life insured (when premium waiver rider is opted)

A fee included in some annuity contracts that compensates the insurer for the risks it assumes in issuing the contract, such as the cost of death benefits, expenses of other insured income guarantees, and administrative costs.

The Legalese «A long - term care rider will accelerate the death benefit to help pay for the costs of long - term care services for chronically ill insureds.

For instance, if a husband is the owner of a policy and his wife is the insured, with their son the beneficiary, the IRS may consider this an attempt to circumvent the gift tax and declare that the insurance death benefit proceeds are subject to taxes, with those taxes charged to the husband as the owner of the policy.

Term life insurance is defined as a contract between the owner of the policy and the insurer, for a policy on the life of the insured, whereupon the insured's death, the insurer pays a lump sum death benefit to the beneficiary.

When a loved one passes away, the insured's life insurance policy can provide a death benefit that helps family members to pay for medical payments, end - of - life expenses and funeral costs.

Bharti AXA Life Premium Waiver Rider: - Under this rider future premiums will be waived off in case of critical illness (for rider taken by Life Insured) and under Critical Illness / Death or ATPD / Both incase Rider is taken by proposer).

In some cases, the maximum death benefit for an additional insured can be as high as those of the primary insured, meaning your spouse would have the same amount of coverage as you.

In case of the death of the Life Insured during the grace period allowed for payment of due premium, the Death Benefit less the outstanding charges shall be paydeath of the Life Insured during the grace period allowed for payment of due premium, the Death Benefit less the outstanding charges shall be payDeath Benefit less the outstanding charges shall be payable.

The cash value policy pays out a lump sum cash benefit upon the death of the insured for the benefit of the life insurance beneficiary.

It provides for the payment of a portion of the death benefit prior to the insured's death should the insured be diagnosed as terminally ill.

If the proposed insured or family can make / afford a single premium payment (single lifetime payment for the policy) they can have an immediate death benefit payable in month 7 of the policy!

Benefit: For life insurance, it is the amount of money specified in a life insurance contract to be paid to the beneficiary upon the death of the insured.

Living Benefit: A benefit that provides for the payment of a portion of the death benefit prior to an insured's death should the insured be diagnosed as terminally ill.

For the purpose of insuring ourselves in the event of death and TPD (total permanent disability), I believe that term insurance meets the above needs for the vast majority of peopFor the purpose of insuring ourselves in the event of death and TPD (total permanent disability), I believe that term insurance meets the above needs for the vast majority of peopfor the vast majority of people.

Another name would be «death» insurance, since the focus is on providing for the insured's beneficiary upon the death of the insured.

This type of life insurance policy allows those with disposable cash to pay a lump sum into a life policy for a death benefit that will be paid up until the insured dies.

2 Accelerated Death Benefit for Chronic Illness Rider pays 92 % of death benefit (less a $ 150 administration fee, $ 100 in Florida) if an insured becomes permanently chronically ill, meaning the insured is severely cognitively impaired, such as Alzheimer's, or is unable to perform two of six Activities of Daily Living, such as bathing, continence, or dresDeath Benefit for Chronic Illness Rider pays 92 % of death benefit (less a $ 150 administration fee, $ 100 in Florida) if an insured becomes permanently chronically ill, meaning the insured is severely cognitively impaired, such as Alzheimer's, or is unable to perform two of six Activities of Daily Living, such as bathing, continence, or dresdeath benefit (less a $ 150 administration fee, $ 100 in Florida) if an insured becomes permanently chronically ill, meaning the insured is severely cognitively impaired, such as Alzheimer's, or is unable to perform two of six Activities of Daily Living, such as bathing, continence, or dressing.

We'll pay a survivor benefit for three months beyond the date of the insured's death, if the insured dies while disability or recovery benefits are payable.

Life Insurance Benefit: In case of the unfortunate event of death of the life insured, the nominee will receive Higher of (110 % of Sum Assured for Money Back option and 125 % of Sum Assured for Endowment option) or 11 times the base annualized Premium to support your child in a time of need.

The policy can be used to provide coverage for a limited time like term insurance or permanently, until the death of the insured, like whole life.

Premium Waiver Rider: - Under this rider future premiums will be waived off in case of critical illness (for rider taken by Life Insured) and under Critical Illness / Death or ATPD / Both incase Rider is taken by proposer).

This group life Accidental Death Benefit Rider offers better protection for the family, in case of loss of life of the Life Insured due to any sudden accident.

The insurance company will pay the death benefit, for both of the lives insured, to the specified beneficiary.

In return for a premium payment, an insurance company will pay out a stated amount of tax - free death benefit to a named beneficiary — assuming, of course, the policy is in - force when the insured passes away.

The face amount of coverage can go up to $ 20,000, and the full death benefit will be paid out after the insured has had the policy for a period of at least three years.

Other benefits include accidental death, which provides benefits when death occurs as a result of an accident, family plan for insured spouse and children, disability waiver of premium, which waives the premium payments if the insured becomes disabled for more than 6 months and mortgage payment disability benefit which offers money to continue making payments if the insured individuals becomes disabled for 60 days or longer.

When an income is vital to the solvency and savings of a family unit, the income earner needs to be insured for disability and death.

This rider lets the policy owner take part of the death benefit to pay for nursing home care and home health care of the insured person, while still leaving at least a partial death benefit to the beneficiaries.

Now it's true that the death benefit on both is only $ 4 million compared to $ 8 million with the two policies, but as you can see the price is significantly less than even insuring one of them for $ 4 million.

In return for these premiums, the insurance company will provide a death benefit to a named beneficiary upon proof of the insured's death and a policy cash value.

Policies of this type were often purchased to provide for a mortgage repayment in the event of the insured's death.

A fee included in some annuity contracts that compensates the insurer for the risks it assumes in issuing the contract, such as the cost of death benefits, expenses of other insured income guaranteees, and administrative costs.

While initial premiums are higher than with a typical term policy, it is possible for coverage to continue until death of the insured, and cash value may accrue in the policy on a tax - deferred basis that can be used to help meet financial needs during your life.

If an estate is larger and therefore vulnerable to federal or state estate tax exposure, an irrevocable trust may be used to provide liquidity for the estate without being subject to estate taxes by owning the policy and being designated as the beneficiary upon the death of the insured.

The reduced sum assured along with the accrued bonuses (if any for 5 years) will be paid on maturity or on death of the insured.

Some examples include accidental death benefit, which pays double the face amount for accidental deaths, and child term rider, which adds coverage to the child of the insured.