Sentences with phrase «insured dies any time»

For example, a 15 - year term life policy with a face amount of $ 250,000 would pay $ 250,000 to the beneficiary if the insured died any time during those 15 years.

Term plans promise the insured a lump sum benefit which will be payable to his nominee if the insured dies any time during the term opted by him.

If the insured dies any time before reaching 100 years of age, the death benefit is paid according to the chosen death benefit option.

Not exact matches

Term life insurance provides affordable coverage for a defined period of years, with its primary purpose to replace income or help pay off outstanding debts if the insured dies during that time.

When someone is named a beneficiary and dies with the insured in a car accident or within a very short period of time (hours, not days, but that is driven by each state), then sometimes the money will go around that person and to the contingent beneficiary.

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.

The policy may exclude payment of benefits in the event that the insured dies as a result of conditions known to exist at the time the policy was taken.

Suicide Clause: A life insurance policy provision that states if the insured dies by suicide within a certain period of time from the date of issue (usually two years) the amount payable would be limited to the total premiums paid minus any policy loans or outstanding premiums.

The low rate for high coverage reflects the very low risk that the insured was actually going to die during the length of time the policy was in force.

If the insured individual dies within that specific period of time, the life insurance carrier pays a death benefit to the insured's beneficiaries.

the spouse of a person in respect of whom the insured person was a dependant at the time of the accident, if the spouse was the insured person's primary caregiver at the time of the accident and the person in respect of whom the insured person was a dependant at the time of the accident dies before the insured person or within 30 days after the insured person, or

Permanent life insurance usually has no fixed time limit; as long as the premiums are paid, the benefit will be paid no matter when the insured dies.

Suicide Clause: A life insurance policy provision that states if the insured dies by suicide within a certain period of time from the date of issue (usually two years) the amount payable would be limited to the total premiums paid minus any policy loans or outstanding premiums.

If the insured person dies during that period of time the Beneficiary receives the death benefit.

Suicide Clause A standard policy provision in most states stating that, if the insured dies by suicide within a specified period of time (generally two years), the insurance company's liability will be limited to a return of premiums paid.

If things don't go as planned, though, and the primary beneficiary (ies) predeceases the insured, or dies at the same time as the insured, for example in the case where a husband and wife are killed together in an accident, then the contingent beneficiary (ies), also known as secondary beneficiary, receives the funds.

The death benefit is paid to the beneficiary if the insured person dies during the one year period of time in which they term lasts for.

Any time an insured dies and a claim is filed there is a routine investigation.

If the life insured dies during the term of this LIC online term plan chosen by him at the starting of the plan, the death benefit is paid which is equal to the Sum Assured chosen by the policyholder at the time of inception of the policy

What if both the insured and beneficiary died at the same time, or together in a shared accident?

In the event the insured were to die before the loan is paid (anytime during that 30 year time period), his or her beneficiary would be able to apply their death benefit proceeds to that mortgage.

Policy benefits will not be paid in case the life insured dies within 7 days of a being diagnosed for the first time, be it carcinoma in situ or major stage cancer.

God forbid if the nominee dies before the insured and the column is left unchanged in the policy documents, then there are numerous reasons which can create unnecessary delays in the distribution of the sum assured at the time of demise of the insured.

The longer the term, the more expensive the policy may become since it covers a longer time span, so the risk of the insured dying during the term will increase.

A contingent beneficiary is the individual (s) designated to receive a death benefit in the event the primary beneficiary (ies) is / are no longer living at the time the insured or annuitant dies.

If the insured has died but sent in two forms with 100 % designation on each on the same day, the insurance company may choose to go with the designation form that was received later in the day (if that can be proven by FAX or other time stamp).

If both the insured and beneficiary die at the same time, then the proceeds would go to the insured's estate.

Within that time period, death benefits will be paid to the survivors if the insured dies.

Time and age limits are usually applicable, as for example, the insured must die within 90 days of the accident and be age 60 or less at the time of deTime and age limits are usually applicable, as for example, the insured must die within 90 days of the accident and be age 60 or less at the time of detime of death.

So instead of the long - term care benefits gradually depleting the value of the life coverage, the full face amount is available should the insured die during the time he or she is receiving long - term care payments.

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).

If the insured dies during said time period, the beneficiaries can claim the payout.

If the insured was to die within that time frame, death benefits would be paid to their beneficiaries.

For example, if the Level Term policy is for 100 $, the same amount will be paid out at any time the insured dies.

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

At any point in time, if the insured dies, the balloon pops and money rains down on the beneficiary, as previously stated.

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

If the insured dies during the specified period of time, his / her beneficiary will receive the value of the policy.

In addition, when the insured dies and it is time to make a claim, you can bet the insurance company will go through the application with a fine - toothed comb (if the insured dies within the contestability period, that is).

An example of an insurance product being sold by some company is a type of variable life insurance policy that allows the insured person to claim the insurance amount coverage at a fixed time in the future in the event that the person does not die in the stipulated time.

A term life policy, which could be in force for 10, 20 or even 30 years, will be cheaper, because it does not have a savings or investment component, and it only pays out if the insured person dies during the time the policy is in place.

The policy pays a death benefit to your beneficiary only if you (the insured) dies during the time or period the policy is in effect.

The heirs - If the insured will die, the heirs can opt to receive benefits through cash distribution, tax - free income death benefit and lump sum over specific span of time.

It may also be necessary that the insured die within a certain time period of the accident, such as 90 days.

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.

Time and age limits are usually applicable to accidental death coverage, for example, the insured must die within 90 days of the accident and be age 60 or less.

The policy is valid for a specific period of time, and the payout is only awarded if the insured dies during the active term.

«Graded benefits» — if the insured person dies within a specified amount of time, they will only get a portion of the death benefit or a portion of their premiums paid will be returned

If a person died after 6 months of buying the term insurance policy, but claim it after completing of 3 yrs of policy starting date, and had paid all the premiums on time for three years.but he has not informed about the death of person insured to the company during the three year period.it is possible to get claim settled??

A graded death benefit means that if the person insured dies within a certain period of time, the beneficiaries do not get the full death benefit amount.