Sentences with phrase «if insured dies»

If the insured dies during the time period specified in the policy and the policy is active - or in force - then a death benefit will be paid.

Nevertheless the catch, If you were to go to their site like I did to have this info @ www.nylaarp.com there are no benefits the first two years, this means the policy wont pay a claim if the insured dies in the first 2 yrs for the policy.

The beneficiary of a life insurance policy has an insurable interest in the insured when the beneficiary is likely to benefit if the insured continues to live and is likely to suffer some loss or detriment if the insured dies.

This means if the insured dies in the first two or three years of the policy from natural causes (heart attack, cancer, phenomena, etc.) the premiums paid will be returned to the beneficiary and the death benefit will not be paid.

There are a few common exclusions in a term policy including a 2 - year suicide exclusion, which means if the insured dies as a result of suicide within the first two years of being insured, there is no payout (one year in some states).

Senior Tribute 2 is a modified death benefit, where if the insured dies within three years of the policy, the premium paid to the beneficiary will equal the contribution plus the 10 percent interest.

If the insured dies before the policy matures, the policy's beneficiaries are paid a stated death benefit.

A graded life death benefit means that in the first two or sometimes three years, your beneficiary will not be eligible to receive the guaranteed issue life insurance death benefit if the insured dies from what is considered an «natural» cause of death.

That's because the life insurance company would take in only a small premium, but have to pay out a large amount if the insured dies — For example: for a person age 35 it may be possible to buy a $ 1 million Term Life Insurance Policy for a premium of only $ 1,275 for the year.

If the insured dies within that 31 - day period, the group policy coverage would still provide a death benefit to the beneficiary.

The face amount is intended to equal the amount of the mortgage on the policy owner's residence so the mortgage will be paid if the insured dies.

The Term insurance plan offers only a death benefit wherein if the insured dies during the policy term, the insurance company pays the sum assured or the life cover to the designated nominee / nominees.

If the insured dies during the period of receiving installments, then the remaining installments are paid to the beneficiary or the nominee as mentioned by the policyholder.

If the insured dies, the nominee shall be paid higher of sum assured or 11 times the annual premium is paid including guaranteed additions subject to a minimum of 105 % of total premiums paid till the date of the death

These are policies that will provide a death benefit if the insured dies from an accidental cause of death.

Accidental Death Rider — a rider added to any life insurance policy that pays an additional death benefit if the insured dies of accidental causes.

A clause present in many life insurance policies, an aviation exclusion states that the death benefit becomes void if the insured dies as a result of an aviation - related accident while not on a regularly scheduled flight.

If the insured dies a day after the policy expires, the beneficiaries will not receive any payout.

If the insured dies within that time period, the death benefits will be paid to the survivors of the policy.

These life insurance policies do not ask any health questions or require an exam because the policy will only pay if the insured dies in an accident.

If the insured dies within five years of buying the policy, their coverage will pay out the death benefit.

If the insured dies because of natural causes, the insurer will not pay the full death benefit to the beneficiary but instead will pay the total of all premiums paid to the company plus an additional small percentage of that amount.

If the insured dies during the policy term, the sum assured under classic option along with the additional life cover will be paid to the nominee.

Death benefit: If the insured dies within the coverage period, then the sum assured may be payable to their own family or nominee.

(If the insured dies during the term, beneficiaries receive the death benefit without any premium return.)

If the insured dies the mortgage is automatically paid off and the balance of the insurance proceeds, if any, is paid to the beneficiary of the policy.

If the insured dies within that set time, death benefits will be paid to the beneficiaries.

BSLI will pay the Sum Assured to the nominee if the insured dies during the policy period.

The idea behind buying life insurance is to replace income if the insured dies.

Term life insurance will only payout benefits to the named beneficiaries if the insured dies within the period term.

life assurance, usually low in cost and offering no cash value, that provides for the payment of a specified sum of money only if the insured dies within a stipulated period of time

If the insured dies within a valid policy term, the beneficiary will receive the intended death benefits.

If the insured dies during the policy term, the death benefit is, usually, paid to the family for dealing with the financial loss.

Death / Accidental Total Permanent Disability: If the insured dies within the policy term or gets accidental total permanent disability (ATPD), he will be eligible for the higher of sum assured plus non-guaranteed revisionary bonuses and terminal bonuses, if any or 105 % of all premiums paid as on date of the death.

If the insured dies, the family will be paid Rs 20 lakh (sum assured).

This way, the nominee will receive extra funds in addition to sum assured if the insured dies due to an accident

Classic: Under this option, if the insured dies during the policy term, the insured shall be paid basic death benefit plus accrued guaranteed additions plus accrued bonuses, if any

If the insured dies during the deferment period, when the risk has not begun, only the paid premiums shall be paid to the nominee

Death Benefits: If the insured dies before the maturity, then the nominee gets the sum assured on death subject to a minimum of 105 % of the total premium amounts paid till death + accrued Fixed Regular Additions

Moreover, if the insured dies within the tenure of the policy, then the nominee gets to receive the death benefits.

If the insured dies before his age of 60 years, the assured sum amount will be reduced by the partial withdrawals made from the single premium amount within 2 years before the date of death.

The death benefit will be paid in full if the insured dies during that 2 or 3 year period even if his premiums are unpaid.

If the insured dies after his of 60 years, the assured sum amount will be reduced by the partial withdrawals made from the single premium fund within 2 years before turning 60 years and partial withdrawals made after turning 60.

If the insured dies, the death is paid to the beneficiary but the insurance company gets to keep the cash value

If the insured dies during this term, the death benefit is paid to the nominee.

If the insured dies, the purchase price will be refunded to the nominee.

If the insured dies within the grace period, then, death benefits under the plan shall be payable which is the complete sum assured after making applicable deductions of the premiums due.

Reliance Accidental Death and Total and Permanent Disablement Rider (Regular Premium)-- the rider promises payment of an additional lump sum amount if the insured dies or suffers total and permanent disability directly due to an accident.

Reliance Family Income Benefit Rider — under this rider, if the insured dies or suffers total and permanent disability due to an accident, a monthly payout of 1 % of Sum Assured will be payable to the nominee until the end of the rider term or till 10 years whichever is later.

Term life insurance is a type of life insurance that provides a death benefit to the beneficiary only if the insured dies during a specified period.