Sentences with phrase «future death benefit payments»

If the insured policy owner passes away while there is outstanding debt leveraged against the whole life policy, then the difference will be subtracted from any future death benefit payments.

Not exact matches

Paid - Up Insurance: An insurance policy that does not require future premium payments to provide the death benefit of the insured person.

A policy owner receives a cash payment, while the purchaser of the policy assumes all future premium payments and receives the death benefit upon the death of the insured.

Banner's Step Up UL ® boasts a guaranteed minimum death benefit for as long as you make your payments, and your minimum payment will never change regardless of what happens in the future.

If the chosen Benefit Payment Preference is Save - n - Gain under any of the plan option, in case of death or critical illness suffered by the insured during the tenure of the plan, the Sum Assured is paid to the beneficiary who is the child, all future premiums are waived off and 50 % of the premiums are paid by the company towards the plan and 50 % to the beneficiary on every premium due date and the plan continues.

Paid - Up Insurance: An insurance policy that does not require future premium payments to provide the death benefit of the insured person.

The buyer of the policy pays all future premium payments and receives the death benefit upon the death of the insured (when the policy matures).

The annuity would provide lifetime (or a certain yearly amount) of future payments, but would have no value at death while the life policy would immediately create a sizable death benefit providing tax - free proceeds to children or a spouse at passing.

When a consumer sells a policy in a «life settlement» transaction, the policy owner receives a cash payment and the purchaser of the policy assumes all future premium payments — then receives the death benefit upon the death of the insured.

But now it is possible to sell a percentage of the policy and still retain a portion of the death benefit protection without the need for future premium payments.

This policy offers flexible premium payments and death benefit options, including the ability to use cash value as a future financial cushion for things like retirement income and / or paying off debts.

In a life settlement, a policy owner receives a cash payment, while the purchaser of the policy assumes all future premium payments and receives the death benefit upon the death of the insured.

There are a multitude of things that a life insurance death benefit can cover including funeral and burial expenses, outstanding debt life mortgage payments, income replacement for your spouse when you are no longer here, and your children's educational future.

Benefits, such as completion of payment premiums, help in maintaining your future goals even in your absence by self - funding of premiums in case of an untimely death of the policyholder; while the additional benefits, such as loyalty bonus, fetch you a larger amount on your retBenefits, such as completion of payment premiums, help in maintaining your future goals even in your absence by self - funding of premiums in case of an untimely death of the policyholder; while the additional benefits, such as loyalty bonus, fetch you a larger amount on your retbenefits, such as loyalty bonus, fetch you a larger amount on your retirement.

In case of unforeseen event of death of Mr. Kumar during the premium payment term, «policy continuance benefit» ensures that the policy continues even without payment of all the future premiums.

The policy terminates after payment of the death benefit and no future payouts is then payable.

However, for many retirees the benefits or necessity of a windfall of cash or the relief from the premium payments outweigh the future expectation of the death benefit.

In some cases, policyowners may withdraw the additional cash value without otherwise affecting their death benefits, premium payments, and minimum guaranteed cash values; the insurer may permit policyowners to reduce the level of future premium payments while maintaining the same face amount of coverage; the insurer may allow policyowners to increase the face amount of coverage while maintaining the same premium level; policyowners may keep the face amount and the premium payment level the same but shorten the required premium - payment period; or they may choose some combination or variation of these options.