Sentences with phrase «ill life insurance policyholders»

Accelerated death benefits are benefits offered to terminally ill life insurance policyholders in need of money.

Not exact matches

• Most major travel insurance policies include Cancellation coverage, which applies to very specific life events such as the policyholder losing his / her job, falling ill or suffering an injury after purchasing the policy.

While life insurance provides a death benefit if the policyholder passes away while the policy is in force, disability insurance provides coverage for ongoing needs if the insured becomes severely ill or injured and can no longer work.

Viatication, also called a viatical settlement or life settlement, can also be used when the policyholder no longer wants the life insurance policy for any reason, even if he or she is not terminally ill.

In the context of life insurance, it waives the premium payment in case the policyholder becomes seriously ill or disabled.