Sentences with phrase «full amount of the policy»

Basically, someone with a terminal disease would sell his or her life insurance policy at a discount so they could have money to pay medical bills and what not and then when that individual died, the buyer would cash in the full amount of the policy.

In the case of accidental death, an additional benefit payment goes to the beneficiary; the amount of the benefit is the full amount of the policy (original amount of the loan).

Immediate (again term usage varies by carriers) benefit means exactly what the term implies: Once approved the full amount of the policy is immediately in force and will be paid in its entirety should the insured die during the policy's active period.

Basically, someone with a terminal disease would sell his or her life insurance policy at a discount so they could have money to pay medical bills and what not and then when that individual died, the buyer would cash in the full amount of the policy.

After intense negotiations, our Chicago personal injury lawyers successfully argued for the other driver's insurance company to offer the full amount of the policy limits prior to filing a lawsuit.

Likewise, if the insured dies after he or she has been insured for more than two years, then the full amount of the policy's stated coverage will be paid out.

When you purchase a term policy, you enter an agreement with the insurance company: If you die during the term, your beneficiaries receive the full amount of the policy.

The buyer cashes in the full amount of the policy when the original owner dies.

If, however, the insured lives past the second or third year and then passes away, the full amount of the policy's death benefit will be available to the beneficiary.

In the event that the insured person dies due to natural causes within the first two years of this policy, the premium paid on the policy will be returned plus an additional 10 %; however, if death occurs due to an accident in those two years, the policy will pay the beneficiary the full amount of the policy.

If you pass away at any time during that term, your beneficiaries will receive the full amount of the policy.

By the first week of May 2017 I had my check with the full amount of the policy.

Basically, someone with a terminal disease would sell his or her life insurance policy at a discount so they could have money to pay medical bills and what not and then when that individual died, the buyer would cash in the full amount of the policy.

This means that if you happen to die during the first two years that instead of you beneficiaries getting the full amount of the policy they will receive only premiums that were paid plus a little bit of interest.

The full amount of the policy will be in effect the day the application is approved.

However, after you have reached that milestone, your beneficiaries will receive the full amount of the policy.

Q: if you surrender your life insurance policy for cash payment, and pass away within just a few days after receiving your check — that you did not cash — is there a grace period for your beneficiary to receive the full amount of your policy?

So, should something happen to you — the full amount of your policy is paid as a death benefit to whomever you select as beneficiary.

Your beneficiary should receive the full amount of the policy since life insurance proceeds aren't taxable.

Should, however, the insured pass away prior to the time that the full amount of the policy loan has been repaid, there will be a reduction in the death benefit, based on the amount of the unpaid loan balance.

At the end of the term you receive no return on the money that you paid for the insurance, but if you die before the term is over, then your loved ones will receive the full amount of the policy.

However, starting day one of policy year three, the full amount of the policy's death benefit will be paid to the beneficiary should the insured pass away for any reason.

The graded death benefit is the amount of time you must live before the full amount of the policy is guaranteed to your loved ones.

Valued Policy: An insurance policy under which the insurance company is obligated to pay the full amount of the policy written to insure real property against loss by fire (and, sometimes, other perils) when the property insured is totally destroyed.

A graded benefit level means that there will typically be a 2 year waiting period before the full amount of the policy will be in force.

Immediate (again term usage varies by carriers) benefit means exactly what the term implies: Once approved the full amount of the policy is immediately in force and will be paid in its entirety should the insured die during the policy's active period.

A level benefit means that the full amount of the policy is in force the day that the application gets approved.

Is there one that will pay the full amount of the policy and not just the premiums that have been paid.

Saina Nehwal then goes on to explain the features of the product where you get the full amount of the policy on diagnosis of the illness up to three times during the policy tenure.

If you die within the first few years of coverage due to a previously known condition like heart disease, your beneficiaries will not receive the full amount of the policy.

However, if the policy has been owned for several years before the insured passes away, the named beneficiary (or beneficiaries) will receive the full amount of the policy's death benefit proceeds.

Any other cause of death would result in the full amount of both policies being paid.

You can also purchase single premium term life policies where the full amount of the policy is paid for at signing, with nothing else due on the policy.