Sentences with phrase «insured after a certain number of years»

However, permanent life insurance can be structured as an employee benefit, as the policy, and its cash value, can be transferred to the insured after a certain number of years or at a particular milestone.

However, permanent life insurance can be structured as an employee benefit, as the policy, and its cash value, can be transferred to the insured after a certain number of years or at a particular milestone.

Not exact matches

In general, life insurance companies that know an insured has passed, but can not locate the beneficiaries of the policy, are required to turn over the benefits of the policy to the state's unclaimed property office if the benefits are not claimed after a certain number of years.

Unlike term life insurance, which expires after a certain number of years, permanent life insurance, such as whole life or universal life, provides lifelong protection and pays a death benefit regardless of when the insured dies.

Although a policyholder may enjoy extremely cheap premiums when he or she is young, term products expire after a certain number of years, or when the insured reaches a certain age.