Sentences with phrase «graded death benefit where»

Modified Death Benefit: This is a true graded death benefit where the policy pays out only the premiums plus 10 % for two years.

For example, a company like Gerber Life Insurance will offer a two year graded death benefit where your premiums will be returned plus 10 %.

Not exact matches

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).

Graded benefit is a term used largely in final expense and guaranteed issue type policies where the death benefit of the policy is suspended for the first two to three years, unless the death is accidental.

There is usually a 2 year waiting period called a «Graded Death Benefit» attached to these policies where the insurer won't pay the death benefits if you die in the first 2 years of the life of the poDeath Benefit» attached to these policies where the insurer won't pay the death benefits if you die in the first 2 years of the life of the podeath benefits if you die in the first 2 years of the life of the policy.

They also have a Graded Benefit plan which is a waiting period where only a portion of the death benefits gets paid out if death is prior to the two year mark of the policies birth.

Graded Benefit Whole Life Insurance — a whole life policy where the death benefits are not level and increase with time.

(And here is where it makes sense for insurance companies to be able to offer guaranteed issue life insurance policies), guaranteed issue life insurance will contain what is called a Graded Death Benefit.

There is always a graded benefit, a period of 2 or 3 years where the full death benefit isn't available.

Silver Guard II and III are graded death benefit whole life insurance policies where the full death benefit is available in year three.

Even in a «worst case» scenario where the insured dies from a natural cause during the graded death benefit exclusion period, because their beneficiary will still receive all of the premium payments the insured made plus some small amount of interested added on!

A graded policy is where a death benefit is received only if the death is accidental and in the first two years.