Sentences with phrase «guaranteed upon the death of the insured»

Not exact matches

All life insurance policies work on the same basic premise; make payments, called premiums, to the insurance company, which guarantees to pay chosen beneficiaries a sum of money upon the death of the insured.

Life insurance provides the foundation of coverage which can guarantee a source of funds upon the death of the insured.

This guaranteed period or «term» that a death benefit will be paid (only upon death of the insured) is the reason this kind of insurance policy is called «term life insurance», Other permanent types of insurance contracts also exist such as whole life insurance and universal life insurance, which will never expire as long as all premium payments are made in a timely manner to the insurance company.

This policy guarantees that upon your death regardless of how you die, other than by suicide, the life insurance company will pay the sum insured to your beneficiary.

An agreement that guarantees the payment of a stated amount of monetary benefits upon the death of the insured, or under other circumstances specified in the contract, such as total disability.

Life insurance is a contract between an insurer and a policyholder in which the insurer guarantees payment of a death benefit to named beneficiaries upon the death of the insured.

In case the Life Insured is found to be suffering from a disease that is likely to lead to the Death of the Life Insured within 6 months of diagnosis in the opinion of a Registered Medical Practitioner and the concurrence of Company's appointed doctor, the Company will advance 50 % of the Guaranteed Maturity Sum Assured (up to maximum of Rs. 10 Lakhs across all policies which provide this benefit) immediately upon Policyholder's request.

An agreement that guarantees the payment of a specified amount of money usually upon the death of the insured.