Sentences with phrase «from death of the insured»

In other words, what financial loss would you suffer from the death of the insured person.

In life insurance, the insurer agrees to pay the beneficiaries a specified sum (death benefit) to indemnify them for the financial loss resulting from the death of the insured.

Life insurance payouts resulting from death of the insured are barred from the beneficiary's income and not subject to tax.

Louisiana life insurance pays your family (or whomever the beneficiary is on the policy) a given amount, called the «face value», to cover burial costs, any medical bills and to pay for the family's living expenses and / or lost income from the death of the insured on the policy.

On the death of the insured, there are 2 death benefit options available: a.) A monthly income is paid to the nominee for a period of 10 years from the death of the insured.

There is a defined insurable interest between the organization and the key person that results from the expected loss of revenue resulting from the death of the insured.

Not exact matches

The general function of life insurance is to create a sum of money payable at the death of the insured in order to replace the economic loss resulting from the person's death.

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.

Claims are paid after death: You need to understand that claims from life insurance policy can only be made upon the death of the insured.

Simply put, second to die or survivorship life insurance differs from all the other types of life insurance because it insures the lives of two people AND only pays a death benefit upon the death of the last survivor.

Beneficiary: the beneficiary is the person or entity that receives the life insurance benefit from the insurer upon the death of the insured.

The named beneficiary receives the proceeds and is thereby safeguarded from the financial impact of the death of the insured.

A certified copy of the insured's death certificate can typically be obtained from the County Recorders Office, Vital Records or the Mortuary.

There were 31 deaths from July 07 to Jun 12, = 20.3 % of the 153 lives insured as of June 30 07.

The amount of the benefit paid to MCAP will include the outstanding balance of the insured mortgage, plus accrued interest from the date of death to the date of claim settlement.

Just like with other types of permanent life insurance policies, cash can be withdrawn or borrowed from the policy, however, an unpaid balance will be charged against the death benefit should the insured die prior to the money being repaid.

But keep in mind that loans from a life insurance policy will reduce the policy's cash value and death benefit, could increase the chance that the policy will lapse, and might result in a tax liability if the policy terminates before the death of the insured.

The investor is diversified against the risk of any single policy's financial impact, which in turn also means the investor has very little to gain from the death of any particular insured individual.

It provides financial benefits to loved ones, businesses or other beneficiaries who might otherwise experience financial hardships from the early or untimely death of the insured person, and it often provides resources that last well beyond the policy holder's lifetime.

The trip cancellation or trip interruption of the insured person must be caused by or result from death, accidental injury, disease or physical illness of the insured person or an immediate family member of the insured person, or default of the common carrier resulting from financial insolvency.

We represent individuals and professionals, municipalities and their agencies, business entities, trucking companies, insurers and their insureds from claims and lawsuits for catastrophic losses and personal injuries, civil rights, construction losses and contracts, employment related practices, property damage and wrongful death arising from the transportation function and commercial motor vehicle activity; the ownership, use and control of land (including environmentally related or toxic exposure claims); the design, manufacture, sale or use of industrial and consumer products; and liability claims against licensed professionals, including lawyers, engineers, accountants and architects, in the States of Pennsylvania and New Jersey.

[42] In other words, Part 7 (at least so far as it is concerned with benefits following injury, rather than death benefits) has two related objects: to compensate an insured person for a portion of the financial loss accrued from temporary total disability caused by a motor vehicle accident; and, where possible, to do so in a manner that brings about the end of the total disability by returning the injured person to employment or self - sufficiency.

By definition, the paid up value of a life insurance policy is the value an owner receives from the insurer upon default or surrender or early termination of the policy before its maturity or the insured's death.

Where an ICBC insured at the date of death resulting from a motor vehicle accident comes within an age group set out in column A of the following Table and the insured has the status set out in column B, C or D, the amount of death benefit payable under section 92 is the amount set out below that status and opposite that age group.

Headed by the «very strong» Donna Makin, Geldards LLP's two - lawer team represents a mix of self - insureds, public sector organisations and insurers in the defence of employers» liability accident claims ranging from minor injuries through to injuries of maximum severity and death and occupational disease.

The firm represents individuals, business entities, trucking companies, insurers and their insureds from claims and lawsuits for personal injury, property damage or wrongful death arising from the transportation function; the ownership, use and control of land (including environmentally related and toxic exposure claims); commercial and business concerns and disputes and the design, manufacture, sale or use of industrial and consumer products in the State of Pennsylvania.

Whole - Life Plan — insurance company collects premium from the insured till the retirement or the term of the policy and pays the claims to the nominees only after the death of the insured person.

General Liability coverage will pay the insured in case of bodily injury for the cost of care; the loss of services; and restitution for any death that results from the injury.

Once the proper insurance company forms have been completed and recorded by the insurance company, repayment of any outstanding loan can be paid from the policy cash surrender value or death benefit should the insured pass away and the loan becomes past due.

Common Exclusions: No coverage for (1) bodily injury / death when you are using your vehicle to carry persons or property (including magazines, newspapers, food) for compensation or a fee; (2) liability assumed under a contract; (3) bodily injury / death to an employee; (4) bodily injury / death caused by an intentional act; (5) property owned by, rented to, or in the charge of an insured person; (6) bodily injury / death to you or relative; (7) bodily injury / death or property damage resulting from a relative's use of a vehicle, other than a covered vehicle, owned by a person who resides with you; or (8) bodily injury or property damage resulting from your operation or use of a vehicle owned by you, other than a covered vehicle.

Provides an accelerated death benefit if the insured is certified by a physician within the last 12 months as unable to perform two of six Activities of Daily Living (ADLs) for 90 consecutive days, or requires substantial supervision to protect himself or herself from threats to health and safety due to severe cognitive impairment.

Death resulting from a moving vehicle accident occurring while an insured person is engaged in a contest of speed, organized or not.

Insurable interest means that the beneficiary of the policy derives an ongoing benefit, typically financial, from the insured, and that a death of the insured would cause the person to suffer a financial or other form of loss.

Direct from the U.S. government: The Internal Revenue Service (IRS) states that life insurance proceeds paid to you because of the death of the insured are not taxable unless the policy was turned over to you for a price.

At the same time, it gives coverage for the insured party's family, which means that beneficiaries will receive proceeds from the insurance claim upon death of the policy holder.

You would have to wait through probate before receiving the portion of her assets from her will, so it won't be as clean as a normal beneficiary designation where the beneficiary has access to the funds very shortly after the death of the insured.

Such policy articulates the person who will obtain the proceeds, which is the amount of the death benefit, from the insurance business company whenever the designated person insured dies within the term of the insurance contract policy.

The monthly installments start from the next month following the date of death of the life insured.

The interest is paid only if the policy has completed its 2 years from the date of policy inception to the date of death of the insured.

This HDFC Ergo plan offers insurance to a wide range of commercial vehicles, protecting businesses from financial loss due to accidents or damage to the vehicles, and legal liability towards third parties for personal injury, death and property damage in case of an accident involving the insured vehicle.

Death of the Insured person: If death occurs within 12 months from the date of the accident, then the company will pay the maximum Sum InsDeath of the Insured person: If death occurs within 12 months from the date of the accident, then the company will pay the maximum Sum Insdeath occurs within 12 months from the date of the accident, then the company will pay the maximum Sum Insured.

The Personal Accident Insurance policy provides compensation in the event of the insured sustaining injuries, solely and directly resulting from an accident caused by violence, visible and external means, which leads to death, or temporary or permanent disablement

This term plan helps to cover against risk from rising inflation costs that may affect the real value of the death benefits that the insured individual's family would receive.

Guarantee is applicable only when - From date of policy inception o the date of death of insured, the policy should have completed 2 years.

According to Guinness World Records news service, the policy features «a combined death benefit to be paid upon the death of the single insured that more than doubles the previous record, set by Peter Rosengard from the U.K., whose record - breaking insurance sale in 1990 sold at $ 100 million (then # 56 million) on the life of a U.S. entertainment industry figure.»

Payment of compensation in respect of death, injury or disablement of insured (a) from intentional self - injury, suicide or attempted suicide (b) whilst under the influence of intoxicating liquor or drugs (c) whilst engaging in aviation or Ballooning, whilst mounting / dismounting from or traveling in any Balloon or aircraft other than as a passenger (fare - paying or otherwise) in any duly Licensed Standard type of aircraft anywhere in the world (d) directly or indirectly caused by venereal disease or insanity (e) arising or resulting from the insured committing any breach of the law with criminal intent.

In case of death of the insured person due to bodily injury resulting solely and directly from due to accident caused by external, violent and visible means, the company will pay a lump sum allowance of 1 % of the capital sum insured for transferring the insured person's dead body to the residence.

If the named insured shown on the coverage summary page, his / her spouse, or their dependent children suffer an accidental death arising from the use or operation of the insured watercraft while this policy is in effect, and provided that the death occurs within 12 months of the date of the accident, we will compensate the estate of the deceased person as follows:

Other optional riders, which vary from state to state, include Accidental Death, Children's Term, Other Insured, Return of Premium, and a Waiver of Premium Rider.

It is therefore, essential to realize the value of your life and sign up for life insurance, which is a protection against financial loss resulting from insured's death.