Sentences with phrase «happens to the life insured»

Not exact matches

When you purchase term life insurance, you agree to pay recurring premiums in return for the commitment by the insurance company to pay a death benefit if the insured happens to die during the term that the insurance policy is in effect.

But if somehow you lie or fail to disclose a material risk factor (such as twenty or more people living in a fraternity house and you want to insure one of them with limits that are well out of the ordinary), what will happen?

When you purchase term life insurance, you agree to pay recurring premiums in return for the commitment by the insurance company to pay a death benefit if the insured happens to die during the term that the insurance policy is in effect.

Sometimes we get so caught up in the living benefits, we forget that — Lord forbid — if something were to happen and the insured dies, the pre-designated beneficiaries get the death benefit — tax free.

It just so happened that a client happened to be the insurance company that had insured the building she lived in.

So as you can see, your huge 5.6 % fixed yield goes down to 1.6 %, when you insure for the huge life risks that you know 100 % for sure are going to happen to you!

An important topic taught through our insurance license school is understanding what happens to a life insurance policy once an insured dies and what laws govern who receives the death benefit monies provided by the life policy.

Unable to do activities in daily living: Under cases where the Insured loses capability to perform 3 or more daily functions (Injury happening within 365 Days from the date of the Accident) for a continuous period of 180 Days the Principal Sum is paid.

Decreasing term life insurance is also a good way to ensure that any large loans, such as business loans or a mortgage, are paid off should something happen to the insured.

Select - a-Term coverage from American General / AIG is also convertible over to a permanent life insurance policy up to the end of the level premium period — or age 70 of the insured — whichever happens first.

February is also «Insure Your Love Month,» sponsored by Life Happens, a nonprofit life insurance organization dedicated to consumer educatLife Happens, a nonprofit life insurance organization dedicated to consumer educatlife insurance organization dedicated to consumer education.

Policy options are available to work with your financial situation, making term life an attractive option to help to cover financial responsibilities that decrease or end over time, like mortgages or student loans, should something happen to the insured.

Insure Your Love is a national awareness campaign brought to you by Life Happens.

The most common reason people buy life insurance coverage is to replace the income that their family would lose if something happened to you (or the insured individual).

It may happen that the insured would be disabled for life then he is entitled to get survival benefit which will be calculated as a percentage of the rider sum assured in line to the severity of the disability.

No one knows what's going to happen in the future, and the point of life insurance is to insure against what you can't predict.

The main benefit of a permanent policy, however, is that it allows you to guarantee that, whatever happens to you for the rest of your life, you will be insured, so long as you continue making your payments.

It may happen that the premium applicable when the life insured is older may be too high for him to pay and a policy lapse due to non-payment of premium would leave him without insurance cover at an age when he needs it most.

Getting insured will make sure that if something is to happen to you, your parents will thrive a financially independent life with your death proceeds.

The answer to the question of what happens when an uninsured driver hits an insured driver depends on whether you live in a no - fault state or a tort state, as well as the kind of damage caused by the accident.

The insured party receives not only a definite return of the investment amount but also an insurance cover that ensures his nominees receive the sum assured to carry on with their lives in case the unfortunate happens.

You may not have been in an accident all your life, but do not wait for it to happen before you get insured.

Dangerous Adventure Sports: This exclusion says that in the event the death of the life insured happens due to the involvement in certain dangerous adventure activities like auto racing, rock climbing, hang - gliding, etc., the payment of the policy proceeds will not be paid.

But when it comes down to insuring your family in the event something happens to you, it pays to take a serious look at life insurance and how it can work in your favor.

This rider provides 100 % Sum Assured in case the death of the Life Insured has happened due to an accident.

There is no reason to allow the policy to have no living beneficiary, unless the insured and the beneficiary happen to die at about the same time, and there is no time to name a new beneficiary.

This exclusion says that in the event the death of the life insured happens due to the involvement in certain dangerous adventure activities like auto racing, rock climbing, hang - gliding, etc., the payment of the policy proceeds will not be paid.

It is a life insurance policy that provides the life cover to the insured by charging mortality cost and provide a return on investment through investing the remainder portion of the premium.The policy offers both death and maturity benefits (whichever happens earlier).