Sentences with phrase «insured after each time period»

With renewable term, the policy can be renewed by the insured after each time period — or term — has elapsed.

Not exact matches

Effective for mortgages endorsed for insurance on or after December 8, 2004 UFMIP refunds has been eliminated except when a borrower refinances to another mortgage to be insured by FHA within a 3 year time period.

It is an insurance policy between the insured and insurer, that provides income replacement, i.e. cash money, to the insured if the insured is too injured or sick to return to work after a certain period of time set forth in the policy.

With respect to debts or liabilities incurred for necessaries furnished the insured after the commencement of disability, the exemption shall not include any income payment benefits payable as a result of any disability of the insured, and with respect to all other debts or liabilities incurred after the commencement of disability of the insured, the exemption of income payment benefits payable as a result of any disability of the insured shall not at any time exceed payment at a rate of four hundred dollars per month for the period of such disability.

i. provides caregiver benefits payable in the circumstances described in section 13 if, as a result of and within 104 weeks after the accident, the insured person suffers a substantial inability to engage in the caregiving activities in which he or she engaged at the time of the accident even if the impairment sustained by the insured person is not a catastrophic impairment, but not for any period longer than 104 weeks of disability unless, as a result of the accident, the insured person is suffering a complete inability to carry on a normal life, and

If it was not made against the insured during the policy period, then the insurer can disclaim coverage for that reason alone, regardless of when the insured gave notice.1 If the claim was made during the policy period but the insured gave notice after the expiration of the requisite time frame for notice under the policy, then the ability to disclaim coverage will turn on whether the notice provisions are conditions precedent or covenants.2 This principle applies regardless of whether the policy is a claims - made or a claims - made - and - reported and reported.3 If the notice provisions are covenants, then late notice constitutes a breach of the policy by the insured, triggering application of Md..

This method would require the manufacturer's previous insurers to continue to provide coverage for bodily injury occurring well after their policy periods, starting from the time the insured could no longer voluntarily insure itself because of the insurance industry's market - wide adoption of an asbestos exclusion (i.e. 1986).

Waiver of Premium is an additional provision (sometimes also called a rider) in most Life Insurance policies which allows to stop paying premiums after the insured person has been disabled for a given period of time (usually six months) due to an illness or an injury.

Also the Insured may cancel the plan at any time, however the company will refund the premium after retaining the premium at company's short period rate as below:

After this period of time has elapsed, the life policy can no longer be disputed by the insurer against any incorrect or inaccurate information regarding the insured.

This specifically states a defined period of time that the primary beneficiary must outlive the insured to receive the death benefits and is usually a period of 10 to 30 days after the death of the insured.

Although most Travel Insured plans provide a waiver allowing for coverage of the pre-existing condition if the plan is purchased within a specified period of time after the initial trip deposit is made, Mr. McKaig purchased a plan that does not include this waiver.

$ 100 for the first complete 12 hour period of delay in departure commencing from the original booked departure time as specified in the travel itinerary and $ 100 after each subsequent 24 hour period of delay up to a maximum of $ 1,000 each Insured Person; or 2.

A majority of policies waive the exclusion for pre-existing conditions, provided you insure to the full value of your prepayments and buy the insurance within a specified period of time after you make your first payment or deposit, typically one to two weeks though sometimes longer on a few policies.

This is a clause that states that should the insured (meaning you) die from NATURAL CAUSES during a certain period of time immediately after purchasing your life insurance policy (typically 2 to 3 years), the life insurance policy will not pay the death benefit (the insurance coverage amount).

After this time period is over, however, the company can no longer challenge statements made on the application and must pay out in the event of the insured's death.

Readers of this blog, and those who are familiar with life insurance, know what the contestability period is: a two - year time period after the issuance of a life insurance policy when the insurer can cancel or rescind the policy if the insured made what's called a «material misrepresentation» in the application, such as in response to a medical or financial question.

[x] An insurance where there is an agreement between the insurer and the insured, where the insurer (insurance company) agrees to pay a certain amount of money in the event of death of the policyholder or to the policy holder after a certain period of time.

A graded death benefit is a «clause» that is associated with most (if not all) guaranteed issue life insurance policies, which will state that the insured must not die of natural causes for a certain period of time after the policy is purchased in order for the policy to COVER natural causes of death.

Most companies will provide a period of time after lapse that an owner can still submit a reinstatement payment and bring the policy back into good standing without the need for the insured to pass through the underwriting process again.

After a life insurance premium is missed, a policy will move into grace period status, where while technically delinquent, the insurance company is still responsible for paying a death benefit if a valid claim is filed for a death of the insured during this time.

Waiver of premium: A rider available with most life insurance policies which exempts the insured from the payment of premiums after he or she has been disabled for a specified period of time.

Risk coverage is for the entire duration of life and the sum assured is paid after the death of the insured Limited Payment Whole Life Insurance: where premiums are paid for a limited and shorter period of time as chosen by the insured or after his death, whichever happens earlier.

As per the survival clause, the insured person must survive for a particular time - period after the diagnosis to register a claim.

Grace Period: A period of time allowed to the insured after the premium due date during which s / he can pay the premium without being charged pePeriod: A period of time allowed to the insured after the premium due date during which s / he can pay the premium without being charged peperiod of time allowed to the insured after the premium due date during which s / he can pay the premium without being charged penalty.

Survival Period is the length of time the insured must survive after he / she has been diagnosed with a covered Critical Illness.

Sometimes the insurance company will insure the home through the transaction period but will require an electrical upgrade within a defined period of time after closing.