Sentences with phrase «holder death benefit coverage»

This type of policy offers the policy holder death benefit coverage, as well as a cash value component.

Not exact matches

In many ways, indexed universal life insurance works in a similar fashion as most other types of coverage in that the policy holder pays their premium, and the net premium is then applied to the actual life insurance death benefit.

Here also a policy holder will have both death benefit coverage and a cash value component.

Due to the flexibility of variable life, however, this type of policy can allow policy holders to obtain a much higher rate of return on invested funds, while at the same time getting the protection of a guaranteed amount of death benefit coverage.

Also, with universal life insurance coverage, the death benefit can be adjusted down or up (with evidence of insurability) in order meet the policy holder's needs as well.

The initial product offered by this insurer was accidental death benefit coverage — and over the years, the company has grown and expanded to provide a wide array of products and services to its policy holders.

After the time has elapsed, policy holders have the option of keeping the coverage as an annually renewable plan, which provides a level amount of death benefit until the insured turns age 98.

Policy holders may also choose to add an accelerated death benefit rider — with chronic and terminal illness provisions — if they want to customize their coverage further.

While their loved ones will only be paid the policy's death benefit if they die during the term they selected, the policy holder will always have the opportunity to extend their coverage buy renewing.

Having permanent coverage is also a plus, as the death benefit will remain in force, regardless of a policy holder's increasing age or health condition.

Term Insurance is a type of life insurance only, a byproduct that implies financial coverage provided to the policy holder for a particular time period; if the insured dies during the term then death benefits are paid to the beneficiary but it ceases if one outlives the set term of the policy.

With accidental death benefit coverage, the nominee is entitled to get further sum assured amount (SA x 2) in case of accidental death of the policy holder.