This policy provides a graded benefit, which means that
if death of the insured that is due to natural causes — in other words, death that is caused by means other than an accident — during the first two years in which the policy has been in force, the named policy beneficiary will only receive back all of the premiums that were paid in, plus 10 percent, as versus the face amount of the policy.
Travel expenses of one relative: Under this plan,
if the death of the Insured Person occurs outside the place of his / her residence, the company will pay for the transport expense upto a maximum of Rs 1000 / - to the place of accident.
Policyholders will be paid a certain percentage of the full death benefit
if death of the insured person should occur in year one, a larger percentage if death occurs in year two, and so on.
If death of the insured occurs during the policy term, the beneficiary collects the face amount (death benefit) of the life insurance policy income - tax free.
If death of the insured occurs when a policy is in lapsed status, no death benefit is paid.
If death of the insured occurs after the commencement of risk, death benefit amount including «Sum Assured on death + Final Additional Bonus + Accrued Bonuses will be paid.
Policy Term —
If death of the insured does not occur during dates of coverage stated in the life insurance policy.
There may also be delays
if the death of the insured is ruled as suspicious.
An accidental death rider will give the nominee a higher payout
if the death of the insured is due to an accident, subject to the exclusions prescribed by insurer.
This essentially means that
if the death of the insured was due to an accident, an additional amount is paid.
Not exact matches
¹ Access to cash values through borrowing or partial surrenders will reduce the policy's cash value and
death benefit, increase the chance the policy will lapse, and may result in a tax liability
if the policy terminates before the
death of the
insured.
If a corporation owns life insurance and the
insured dies, then the
death proceeds become part
of the general assets
of the corporation and the value
of the stock owned by each surviving shareholder will be increased by an amount proportionate to his or her interest.
If nations continue to assert their independence
of all higher authority, the end will be either war to the
death (for all) or the emergence
of a single dominant world power which will maintain by force the minimal order necessary to
insure the survival
of civilization.
A contingent beneficiary is entitled to insurance proceeds or retirement assets only
if predetermined conditions are met at the time
of the
insured's
death (as can be found in a will).
Life insurance companies pay a
death benefit (sometimes in the millions) to the beneficiaries
of an
insured if they die.
If the
insured employee passes away, the key man policy's
death benefit would be paid to the company free
of income tax in most cases.
Generally,
if you receive the proceeds under a life insurance contract as a beneficiary due to the
death of the
insured person, the benefits are not includable in gross income and do not have to be reported; any interest you receive is taxable and you should report it just like any other interest received.
Death Benefit - In case of uncertain demise of the insured person during the tenure of the policy the death benefit is provided to the beneficiary of the policy as basic sum assured along with vested simple reversionary bonus and terminal bonus if
Death Benefit - In case
of uncertain demise
of the
insured person during the tenure
of the policy the
death benefit is provided to the beneficiary of the policy as basic sum assured along with vested simple reversionary bonus and terminal bonus if
death benefit is provided to the beneficiary
of the policy as basic sum assured along with vested simple reversionary bonus and terminal bonus
if any.
It's perfectly legal that your uncle received a
death benefit upon the
deaths of his nephew and brother
if he had policies
insuring them.
Living Needs Benefit (Accelerated
Death Benefit) Rider: at no additional cost, this living benefit pays out a portion of the death benefit if the insured is diagnosed as terminally ill with a life expectancy of 12 months or
Death Benefit) Rider: at no additional cost, this living benefit pays out a portion
of the
death benefit if the insured is diagnosed as terminally ill with a life expectancy of 12 months or
death benefit
if the
insured is diagnosed as terminally ill with a life expectancy
of 12 months or less.
Life insurance classified as return
of premium (ROP) features a return
of premiums paid to purchase coverage
if the
insured outlives the term
of the policy, or payment
of some portion
of premiums paid to the beneficiary upon the
insured's
death.
For instance,
if a husband is the owner
of a policy and his wife is the
insured, with their son the beneficiary, the IRS may consider this an attempt to circumvent the gift tax and declare that the insurance
death benefit proceeds are subject to taxes, with those taxes charged to the husband as the owner
of the policy.
Allows the
insured to access the
death benefit payout while still living
if he / she is diagnosed with terminal illness and needs to use the cash to cover the costs
of care.
The Legalese «The Acceleration
of Death Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&r
Death Benefit Rider provides payment
of all, or a portion
of the
death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&r
death benefit,
of the amount that would normally be paid to the beneficiaries upon the
death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&r
death of the
insured, while the
insured is alive
if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.»
Yet,
if the
insured does not ever need this benefit, they will still maintain the protection
of the
death benefit on the policy, along with the cash growth.
If you are both the owner and
insured of a life insurance policy, the
death benefit will be included in your gross taxable estate.
The accelerated
death benefit rider pays a portion
of the
death benefit to you (the
insured)
if you become terminally ill with a short life expectancy.
The ADB rider allows the owner to access a portion
of the
death benefit
if the
insured is diagnosed terminally ill.
War Clause: A provision in a life insurance policy excluding the liability
of an insurance company
if the
insured's
death is the direct result
of a war.
If the proposed
insured or family can make / afford a single premium payment (single lifetime payment for the policy) they can have an immediate
death benefit payable in month 7
of the policy!
If the
insured can not perform two
of those six, they will receive a monthly payout based on the
death benefit.
An accelerated
death benefit (ADB) payout allows the
insured to access a portion
of the
death benefit in advanced
if he or she is diagnosed withe a qualifying terminal illness or chronic illness.
Definition
of a suicide clause:
if the
insured person commits suicide, while sane or insane, within a specified period — usually two years — the insurance company would not be obligated to pay the
death benefit and instead would just return the premiums paid.
A Term Life policy offers coverage only
if death occurs during a specific period
of time, which coincides with the terms in which the
insured member is required to make a monthly premium.
2 Accelerated
Death Benefit for Chronic Illness Rider pays 92 % of death benefit (less a $ 150 administration fee, $ 100 in Florida) if an insured becomes permanently chronically ill, meaning the insured is severely cognitively impaired, such as Alzheimer's, or is unable to perform two of six Activities of Daily Living, such as bathing, continence, or dres
Death Benefit for Chronic Illness Rider pays 92 %
of death benefit (less a $ 150 administration fee, $ 100 in Florida) if an insured becomes permanently chronically ill, meaning the insured is severely cognitively impaired, such as Alzheimer's, or is unable to perform two of six Activities of Daily Living, such as bathing, continence, or dres
death benefit (less a $ 150 administration fee, $ 100 in Florida)
if an
insured becomes permanently chronically ill, meaning the
insured is severely cognitively impaired, such as Alzheimer's, or is unable to perform two
of six Activities
of Daily Living, such as bathing, continence, or dressing.
We'll pay a survivor benefit for three months beyond the date
of the
insured's
death,
if the
insured dies while disability or recovery benefits are payable.
Other benefits include accidental
death, which provides benefits when
death occurs as a result
of an accident, family plan for
insured spouse and children, disability waiver
of premium, which waives the premium payments
if the
insured becomes disabled for more than 6 months and mortgage payment disability benefit which offers money to continue making payments
if the
insured individuals becomes disabled for 60 days or longer.
The policy can also include a terminal illness rider, which allows the
insured to receive a portion
of the policy's
death benefits
if he or she becomes terminally ill.
Most life insurance policies have provisions that allow a portion
of the
death benefit to be used
if the
insured can not perform 2
of 6 activities
of daily living.
If one
of the children has predeceased the
insured, it pays that beneficiary's children equal shares
of the entire
death proceeds.
If the
insured individual dies within that specific period
of time, the life insurance carrier pays a
death benefit to the
insured's beneficiaries.
If an estate is larger and therefore vulnerable to federal or state estate tax exposure, an irrevocable trust may be used to provide liquidity for the estate without being subject to estate taxes by owning the policy and being designated as the beneficiary upon the
death of the
insured.
The reduced sum assured along with the accrued bonuses (
if any for 5 years) will be paid on maturity or on
death of the
insured.
If there are any loans against the life policy, then these amounts will reduce the face value
of the
death benefit when the
insured passes away.
The insurance policy will provide a return
of capital at the
death of the
insured (you), with the lifetime income stream continuing for the surviving spouse or stopping
if the annuity was just life - only on you.
But keep in mind that loans from a life insurance policy will reduce the policy's cash value and
death benefit, could increase the chance that the policy will lapse, and might result in a tax liability
if the policy terminates before the
death of the
insured.
So
if you have a
death benefit
of $ 1 million, and your cash value is currently at $ 400,000 when the
insured dies, the beneficiary will receive the
death benefit and the cash value — $ 1,400,000.
The company promises to pay a
death benefit to a beneficiary when the
insured dies as long
if the
insured meets the conditions
of the contract (for example, dying within the term period).
(b) in the case
of the
death of the person
insured,
if a declaration
of presumption
of death is necessary, the notice or proof is given or furnished no later than one year after the date a court makes the declaration.
(1) The insurer shall pay a
death benefit in respect
of an
insured person
if he or she dies as result
of an accident,