Sentences with phrase «insured dies before»

Effectively, this means that there will be no pay out if the insured dies before the set date which will waste all of the investment made up until this point.

Following are the benefits under this plan in case Insured dies before the maturity.

ON DEATH: If insured dies before 5 year during the term nominee will get SUM ASSURED, But if insured dies during the term or after five year nominee will get SUM ASSUERD + LOYALTY ADDITIONS.

If the insured dies before the waiting period is over, the claim is not payable.

# If the life insured dies before 60 years of age, Sum Assured payable on Death is reduced to the extent of Partial Withdrawals made during the last two years prior the date of death.

The benefit is paid only if the insured dies before the end of the specified term.

If life insured dies before the maturity date, highest of the following would be paid as death benefit.

If the insured dies before the policy matures, the policy's beneficiaries are paid a stated death benefit.

In case the insured dies before the end of the policy term and considering all premiums were duly paid, the policy will continue and at the time of maturity, the fund value will be paid to the nominee and policy will expire

Provided that the death benefit is at least 105 % of the total premiums paid till death If the life insured dies before reaching 60 years of age, the Sum Assured would be deducted for any partial withdrawals made during two years prior to death If the life insured dies after attaining 60 years, any partial withdrawals made after crossing 58 years of age would be deducted from the Sum Assured.

Death Benefits: If the insured dies before the maturity, then the nominee gets the sum assured on death subject to a minimum of 105 % of the total premium amounts paid till death + accrued Fixed Regular Additions

If the insured dies before his age of 60 years, the assured sum amount will be reduced by the partial withdrawals made from the single premium amount within 2 years before the date of death.

Only the Single Premium paid would be paid to the nominee if the Life Insured dies before the commencement of risk

The life insured dies before the age of 60 years, the sum assured will be higher of the sum assured amount and the total fund value till date (having deducted all the withdrawals made within two years before death).

If the insured dies before the full face amount is in force, most carriers will pay back premiums paid, plus some interest.

If the insured dies before this point, the company will only return paid premiums with modest interest.

If the insured dies before age 70, the death benefit is paid out to the beneficiary stated in the policy.

If the insured dies before the term ends, the insurance carrier agrees to pay any beneficiaries a lump sum of money.

But if the insured dies before telling the beneficiary where his or her policy is, the beneficiary may not be able to find it and claim the benefit, and it could join the billions of dollars in life insurance benefits that have gone unclaimed.

It is important to note, though, that any unrepaid loan or withdrawal will be charged against the death benefit if the insured dies before the funds have been repaid.

1 Such loans increase the chance a policy will lapse, reduce the ultimate death benefit, and could result in a tax liability if the insured dies before the loan is repaid.

If the insured dies before the full face amount is in force, most carriers will pay back premiums paid, plus some interest.

What happens if the proposed insured dies before the policy issue date?

Not exact matches

The slow upward flow of water insures that the short lived radioactive gases produced by fission die off before the reactor coolant reaches the above - ground portion of the plant (another bonus of gravity driven flow!).

They are the insured, so if they die before they pay back the loan, the death benefit goes to Jack.

This voluntary protection product, available from CMFG Life Insurance Company through CEFCU, reduces or pays off your insured loan balance up to the policy maximum should you die before the loan is repaid.

If the person insured were to die before the waiting period, most companies will repay premiums and add interest.

So, if Eileen dies before the insured and she has two children and the death benefit is $ 100,000, then Rita receives $ 50,000 and Eileen's two children each receive $ 25,000.

An optional add - on life insurance benefit that allows the insured to receive partial payment of the policy's face amount before dying in the case of terminal illness or injury.

(3) No payment shall be made under this section to a person who dies before the insured person or within 30 days after the insured person.

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

An accelerated death benefit usually pays some of a policy's death benefit before the insured dies.

In the event that the Insured dies after a written request for an accelerated death benefit is submitted but before payment is made and we receive written notice at our home office of this death, the request for an accelerated death benefit will be considered void and no benefit will be paid under the rider.

An optional add - on life insurance benefit that allows the insured to receive partial payment of the policy's face amount before dying in the case of terminal illness or injury.

If the insured and the primary beneficiary have died before the death benefit was paid out, the contingent beneficiary receives the life insurance proceeds.

The person, people or organization that will receive life insurance death benefits if the primary beneficiary dies before the insured.

While life insurance companies frequently do not request medical and financial records from applicants before issuing a policy, they almost always do so when the insured dies within the contestability period.

As a secondary beneficiary, this individual only receives benefits if the primary beneficiary dies before the insured.

If the insured dies early, that is before the policy maturity period, his beneficiaries will get the lump sum assured by the insurer.

However, both insureds must die before a death benefit is paid - in other words, only after the death of the second insured.

Post maturity, if the insured dies at any age before he reaches 100 years of age, an additional benefit equal to the basic Sum Assured is payable to the nominee.

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.

Considering the possibility that a beneficiary may die before the insured, insurance companies advise policyowners to also designate contingent and tertiary beneficiaries.

An underwriter works for an insurance carrier and it's his or her job to look at how risky you're going to be to insure — that is, how likely you are to die before the end of your policy's term is up.

Change of nominee is mandatory in a scenario where the nominee dies before the insured and thus the proposer needs to create fresh nominations.

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.

So, if Paige dies before the insured and she has two children and the death benefit is $ 100,000, then Bea receives $ 33,333 and both of Paige's children also receive $ 33,333.

Per Stirpes — Term used to describe how proceeds should be distributed when a beneficiary who has children dies before the insured.

So, if Eileen dies before the insured and she has two children and the death benefit is $ 100,000, then Rita receives $ 50,000 and Eileen's two children each receive $ 25,000.

Only if the insured dies within this period will the insurer have a legal right to contest the claim on the basis of misrepresentation and request additional information before deciding whether to pay or deny the claim.