Sentences with phrase «individual is the owner of the policy»

In a traditional life insurance plan, an individual is the owner of the policy, whereas his / her spouse is the beneficiary.

Not exact matches

An individual condo unit owner's insurance policy, an HO6 policy, is often referred to as «walls - in» insurance, as it covers the interior structure of the unit as well as your personal property.

«Treating taxis — who have paid into the system and should be exempted from additional charges — the same way as those responsible for the problem makes no public policy sense because it won't reduce congestion,» said Nino Hervias, a spokesman for the Taxi Medallion Owner Driver Association, which represents about 1,500 individual taxi owners, most of whom are immigrants.

An individual condo unit owner's insurance policy, an HO6 policy, is often referred to as «walls - in» insurance, as it covers the interior structure of the unit as well as your personal property.

However, this type of policy may feature less expensive premiums than two individual policies, allowing the policy owner (s) the potential to buy a policy with a larger death benefit than might otherwise be affordable using separate policies.

Besides an organization (the employer) being the owner of the policy, group life insurance works essentially the same as individual policies.

Generally, the title owner of the policy is an individual but it could can also be a trust or business entity such as a corporation or an limited liability company if the circumstances warrant this strategy.

The goal of the event was to bring together national and regional experts to focus on simplifying policy structure and to give practical «how to» information on wind project development to interested individuals and land owners.

In addition, when EV owners are encouraged to charge their vehicles overnight (such as with the Ontario government's recently - announced program to provide free overnight charging) the overnight surplus base - load power capacity offers a way to marry broad public policy and societal benefits to the more narrow interests of the individual, in the form of «free fuel» alternatives for making this environmentally beneficial choice.

Whereas a corporation can bring in diversity policies or more flexible work arrangements without the consensus of all of its managers, partnerships are made up of individual owners with no hierarchical management structure.

Accordingly, when snowmobiles are operated on property not occupied by the owner at the time of an accident, they are considered «automobiles» for which insurance coverage resulting from an accident may be available under the individual's own automobile insurance policy, including statutory accident benefits, third - party liability and underinsured coverage.

Despite this general rule, courts have struggled with questions involving making owners of programmed systems responsible for damages suffered by third parties as a result of their use, in many cases due to policy concerns about imposing such liability... there is a significant difference between an entity that makes copies at the request of an individual and an entity that uses pre-programmed computers to carry out the request automatically...

Since this is a change of policy on the mall's part, it would seem at first glance that the individual store owners would be immune from fines.

Instead, what usually happens is the driver and the owner of the vehicle who allowed that excluded individual form the policy CAN be held liable for damages the at - fault driver caused.

They noted that although the litigant may be the owner of an insurance policy, he or she may not be the insured individual to whom the health information pertains.

The transaction is typically funded through a life insurance policy carried on the lives of each individual owner.

It is important to remember, that although only the policy owner can pledge the death benefits of a policy to the lender, they may not necessarily be the individual named on the policy.

A life insurance policy under MWP Act is a must for self - employed individuals, business owners, those who need to take substantial amounts of credit, and those who have volatilesources of income.

Policy owners, who are the individuals responsible for paying the premiums, have the option to choose from a variety of terms from a renewable one - year term, to as much as a 30 year term.

In legal terms, life insurance is a contract between a policy owner and insurer, wherein the latter agrees to reimburse the occurrence of the insured individual's death or other event such as terminal illness or critical illness.

In doing so, the owner of a life insurance policy is required to name a beneficiary — or beneficiaries — who will receive the insurance policy proceeds upon the individual's death.

Investor control: Individual policy owners and family offices are prohibited from exercising influence over the specific investment decisions of the fund managers.

When the Master Policy or Home Owner Association (HOA) policy covers a loss, but the damage exceeds coverage available in the HOA insurance policy, the members of the association and owners of the individual units may then become liable for their shared portion of the damage that the underlying association insurance was not sufficient to Policy or Home Owner Association (HOA) policy covers a loss, but the damage exceeds coverage available in the HOA insurance policy, the members of the association and owners of the individual units may then become liable for their shared portion of the damage that the underlying association insurance was not sufficient to policy covers a loss, but the damage exceeds coverage available in the HOA insurance policy, the members of the association and owners of the individual units may then become liable for their shared portion of the damage that the underlying association insurance was not sufficient to policy, the members of the association and owners of the individual units may then become liable for their shared portion of the damage that the underlying association insurance was not sufficient to cover.

Whether it is better to purchase the return - of - premium rider or invest the difference ultimately will depend upon the policy owner's investment risk tolerance, and his or her individual tax situation.

That means the insured individual's name and contact information will be made available to the new owners of the policy, who will track the insured person's health status from time to time.

Oftentimes, the owner of a life insurance policy is an individual.

Owners of active, paid - up individual life insurance policies were sent an endorsement (a notice) changing the name of the issuing company for their policies.

Owners of inforce individual life insurance policies were sent an endorsement changing the name of the issuing company for their policies.

Most of the time this product is purchased by high net - worth individuals or business owners wanting a key person policy.

A term insurance policy is one that simply accepts regular premiums from the owner and then pays out a fixed benefit on the death of whomever the policy covers, who might not be the same individual as the owner.

Generally, the title owner of the policy is an individual but it could can also be a trust or business entity such as a corporation or an limited liability company if the circumstances warrant this strategy.

The owner of an individual life insurance policy is the one who has the rights that are stipulated in the contract.

The above example explains why it is vital for business owners to purchase an appropriate individual health insurance policy for themselves, irrespective of the company's group policy.

An individual is the owner of his personal policy.

However, this is not the case when the policy owner, insured, and beneficiary of a policy consist of three separate individuals.

For example, a Class 2 insured individual could be a friend of the policy owner.

Class 2 insurance coverage applies to individuals who do not fall under the Class 1 coverage restrictions, meaning that Class 2 insurance applies to an individual who is not the policy owner, is not the spouse of the policy owner, or is not a resident relative of the policy owner.

From landlords freshening up their apartments for the arrival of new tenants to individual property owners in Fremont preparing for special events, services from cleaning professionals are utilized quite frequently and often included in a Fremont renters insurance policy.

Even though the Class 2 insured individual is not the policy owner or the relative of the policy owner, he or she is still covered under the insurance contract as long as he or she is lawfully occupying the vehicle.

• Develop and implement policies for the parking lot • Issue parking permits and devise appropriate procedures for distribution of the same • Organize parking registration activities • Collect, count and record the parking fee • Supervise, train and evaluate subordinate employees • Guide and educate the campus community regarding parking procedures and SOPs • Identify and report any suspicious vehicle • Issue and submit periodic parking lot reports to the higher management • Devise and recommend ways to enhance the effectiveness of parking procedures to ensure maximum customer facilitation • Carryout paper work for long term parking requests and issue relevant permit if applicable • Inspect the parking lot physically and ensure proper physical conditions are available for parking • Ensure consumer and vehicle security in the parking lot • Operate parking lot equipment, drive through gates and car lifters appropriately as and when required • Respond to public inquiries and provide relevant information regarding parking protocols • Monitor CCTV footage and report any suspicious activity • Regularly update the members» vehicle data and stamp their permits • Oversee parking lot operations, revenue collection and ticketing procedures • Ensure proper book keeping procedures are being carried out • Conduct minor maintenance of parking lot equipment • Promote and demonstrate high standards of customer service • Issue permits to vendors and other visitors after complete validation of their personal data • Oversee flagging and validation code issuance • Organize training sessions for development and grooming of the team • Assign duties to the parking lot employees and evaluate their performance • Serve as point of contact for parking lot procedures, maintenance and permissions • Allocate separate space for visitors, special guests and handicapped individuals • Manage parking lot budget and meet the maintenance requirements within allocated amount • Devise a proper one way route within the parking area and display informative direction boards to implement the same • Oversee the cleanliness of the parking lot and keep it snow free during winters to facilitate smooth drive in and drive out • Procure and install parking signs and meters etc. • Maintain vehicle owner's data on whose IDs the permits have been issued • Record all drive ins and drive outs with timings in the computerized log system