Sentences with phrase «insured dies by»

In fact, the loan can be repaid when the insured dies by subtracting it from the death benefit.

Suicide: If the insured dies by committing suicide within 12 months of plan inception or renewal then the nominees are settled by paying the fund value as on the date of death.

Suicide: In a case, where the insured dies by committing suicide within the first year of plan renewal the settlements are done by paying 80 % of the premiums paid till date.

If the insured dies by suicide within two years from the Issue Date, the only amount payable will be the premiums paid for the policy plus 10 %, less any debt against the policy.

If the Insured dies by suicide within two years from the Issue Date (one year in ND), the only amount payable by Gerber Life will be the premiums paid for the policy less any debt against the policy.

This rider increases the death benefit if the insured dies by means of an accident.

It is a life insurance benefit wherein the proceeds are payable to the beneficiary only if the insured dies by accident within the policy term.

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.

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.

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.

Not exact matches

When you purchase term life insurance, you agree to pay recurring premiums in return for the commitment by the insurance company to pay a death benefit if the insured happens to die during the term that the insurance policy is in effect.

If a corporation owns life insurance and the insured dies, then the death proceeds become part of the general assets of the corporation and the value of the stock owned by each surviving shareholder will be increased by an amount proportionate to his or her interest.

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!).

You don't want your chance at being self - insured to die by a thousand cuts (or, in this case, a thousand dinners out).

When you purchase term life insurance, you agree to pay recurring premiums in return for the commitment by the insurance company to pay a death benefit if the insured happens to die during the term that the insurance policy is in effect.

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.

Immediate (again term usage varies by carriers) benefit means exactly what the term implies: Once approved the full amount of the policy is immediately in force and will be paid in its entirety should the insured die during the policy's active period.

If the insured dies, the policy pays a death benefit, up to the policy limit, that could help the company bridge any financial gaps created by the loss while the survivors decide how to proceed.

The legislatively established bright line rule roughly captured the results of those disputes, with much less litigation cost, while giving insureds more confidence that they would not be cheated of their premiums when they died due to reasons trumped up after the death by the insurance company.

Beneficiary The person or persons who will be paid if the person insured by the life insurance policy dies

The death benefit would be paid by the insurance company if the insured died during the one - year term, while no benefit is paid if the insured dies one day after the last day of the one - year term.

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

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

An important topic taught through our insurance license school is understanding what happens to a life insurance policy once an insured dies and what laws govern who receives the death benefit monies provided by the life policy.

If the parent is insured and he dies, there will be no requirement of paying future premiums because they will be provided by the insurance company as per the provisions of the inbuilt waiver of premium benefit

The life insurance beneficiary, designated by the insured, gains control of the death benefit after the insured dies.

Joint Life, Last Survivor with Return of Purchase Price - Retirement pension can be received by the insured till he / she dies and after that till the demise of the insured or the last survivor.

The rider states that if the parent who is the policyholder and life insured under the plan dies during the tenure of the plan, all future premiums payable under the plan will be waived and paid for by the company.

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.

Life insurance companies set life insurance rates by looking at how risky you are to insure — how likely you are to die over the course of your policy.

You don't want your chance at being self - insured to die by a thousand cuts (or, in this case, a thousand dinners out).

If the insured dies, death benefit is reduced by the amount of any outstanding loan balance.

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).

The death benefit will be paid to the beneficiary named by the insured, if they die.

When an insured person dies within the 2 - year contestability period, the insurance company can by all means exercise its right to contest the validity of the insurance policy and the claim.

This plan can also be further «customized» by adding various riders such as the children's term rider the disability waiver of premium rider, the accidental death benefit rider, and / or a travel accident rider that provides an additional amount of coverage if the insured dies as the result of a travel related accident.

Also, what happen if the insured dies of old age (not due to accident), is it still covered by the policy?

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.

So, for example, if the death benefit of a life insurance policy that is owned by the insured has a death benefit of $ 500,000, then this amount will be included in the person's overall estate value when he or she dies.

The premiums for these products — which are designed to pay a death benefit no matter when the insured person dies — are driven by expected investment returns as well as by the same forces that affect term rates, Dr. Weisbart said.

The company's health insurance products consist of accidental injury insurance which provides benefits if insured is injured or dies from an accident; cancer insurance which assists in paying costs related to cancer treatment and recovery; critical illness insurance which offers lump - sum benefits upon the diagnosis of a critical illnesses, such as cancer, heart attack, stroke and kidney failure; heart / stroke insurance which pays indemnity benefits for a range of treatments, services and expenses in the event of a heart attack or stroke; hospital insurance which helps pay costs associated with hospital care, including emergency room visits; and Medicare supplement which protects against the expenses not paid by Medicare.

So by using a collateral assignment, if the owner / insured dies, the lender is paid back the amount it is owed and the remainder of the life insurance will be for the benefit of a beneficiary, such as a wife or kids.

And, if the insured person dies while insured by the policy, the insurance company pays out a death benefit to the beneficiary chosen by the insured.

Term life insurance works by paying out the death benefit if the insured dies during the term.

Once the life insurance policy is placed in the trust, the insured person no longer owns the policy, which will be managed by the trustee on behalf of the policy beneficiaries when the insured person dies.

If a family is in need of a family owned business succession plan because the family business will one day be run by only one of the children after the insured dies, it's possible that they will want to leave all of the company to the child running the family business, but still provide something significant for other children that are not involved.

If the life insured dies due to suicide within one year of reviving a policy which was lapsed, higher of 80 % of the premiums paid or the Surrender Value acquired by the plan is paid.

A provision in certain life insurance policies (also known as an accidental death benefit) that pays double the death benefit to a beneficiary if the insured dies in an accident or in another way as specified by the policy.

Immediate (again term usage varies by carriers) benefit means exactly what the term implies: Once approved the full amount of the policy is immediately in force and will be paid in its entirety should the insured die during the policy's active period.

Start by taking the income earned by the insured, calculate the total amount that would be lost if the insured died today and assume he / she will earn the same amount until retirement, and add burial and grieving costs such as lost work time.