Sentences with phrase «insured dies from»

Although there is a suicide exclusion in life insurance policies if the insured dies from suicide occurring within the first two years of being insured (one year in some states), the insurance company does pay out death benefits if the insured dies from suicide after two years.

During this period of time, the life insurance policy will pay out in full in the event that the insured dies from an accidental cause (such as: slip and fall, motor vehicle accident, victim of crime, etc, etc...) but the policy will not cover the insured in the event of an natural cause of death during that first 2 year period.

Even in a «worst case» scenario where the insured dies from a natural cause during the graded death benefit exclusion period, because their beneficiary will still receive all of the premium payments the insured made plus some small amount of interested added on!

In most cases (be sure to check with the policy you are considering), what you'll generally find is that in the event that the insured dies from natural causes during the graded death benefit exclusion period, most if not all of the premiums paid by the insured will be refunded to the insured's beneficiaries plus some type of interest payment based on how long the insured had been making payments!

If an insured dies from natural causes during the waiting period, the company will reduce the death benefit to 110 % of premiums paid into the policy.

A graded life death benefit means that in the first two or sometimes three years, your beneficiary will not be eligible to receive the guaranteed issue life insurance death benefit if the insured dies from what is considered an «natural» cause of death.

These are policies that will provide a death benefit if the insured dies from an accidental cause of death.

Full Death Benefit Waiting Period — The insurance company typically requires a waiting period of two or three years before they will pay the full death benefit if the insured dies from natural causes.

That it's not all bad news when it comes to the graded death benefit policies because in most cases, if an insured dies from «natural» causes during the graded death benefit period, most guaranteed life insurance policies (or at least the ones we offer here at TermLife2Go) will have some «reimbursement program» whereby the insured's beneficiary will receive back some if not all of the premium payments that the insured paid plus some type of additional interest earns as well.

If the insured dies from an accident, they will pay the full face amount of the policy even during the first two years.

Some policies may pay the full amount if the insured dies from an accident within two years of the policy being issued.

If the named insured dies from natural causes, there is no coverage under this rider.

However, if the insured dies from a natural cause during the first two years of the burial policy, the beneficiary will receive all premiums paid plus 10 %.

For example, if an insured dies from injuries sustained in an accident, the death must occur within a specified period for benefits to be paid.

If a rider is purchased, the policy generally pays double the face amount if the insured dies from an accident.

If the named insured dies from natural causes, there is no coverage under this rider.

In most cases, should the insured die from natural causes during the graded death benefit, most if not all of the paid premiums will be returned to the insured beneficiaries so it will be as though the insured didn't actually lose money by purchasing the policy and dying too soon!

It's not all bad news because with most guaranteed accepted life insurance policies, the best final expense and burial insurance companies will generally have a policy whereby: Should the insured die from natural causes during the graded death benefit, most if not all of the paid premiums will be returned to the insured beneficiaries so it will be as though the insured didn't actually lose money by purchasing the policy and dying too soon!

You see, what a graded death benefit does is protect an insurance company from having to pay out a guaranteed acceptance life insurance policy during the first couple of years (generally 2 - 3 years) should the insured die from a natural cause.

So should the insured die from a natural cause (cancer, heart attack, stroke, etc, ect...) this particular insurance carrier issues a full refund of all premiums paid by the insured to the insured's beneficiaries prior to the policy going fully in force.

Not exact matches

Simply put, second to die or survivorship life insurance differs from all the other types of life insurance because it insures the lives of two people AND only pays a death benefit upon the death of the last survivor.

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.

While having the lowest out - of - pocket outlay of any type of individual life insurance policy, in order to reap a benefit from the policy, the insured must die while the policy is in force.

You'll also pick a beneficiary — the person (s) or entity who'll receive the death benefit from your policy if you die while insured.

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.

Just like with other types of permanent life insurance policies, cash can be withdrawn or borrowed from the policy, however, an unpaid balance will be charged against the death benefit should the insured die prior to the money being repaid.

If the insured person dies unexpectedly, the company will receive the proceeds from the insurance policy payoff.

It's important to understand — If the insured passes away, and the primary beneficiary dies, and there is no contingent beneficiary — The proceeds of the life insurance policy pass on to your estate, and may be subject to additional taxes and fees that otherwise would not been taken from the proceeds.

In the event the insured dies and the policy lapsed within three years from the date of commencement (start) of the life insurance policy, then the insurance company is not liable to settle such claims.

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.

They shy away from insuring individuals where the beneficiary would stand to gain if the insured died.

The component of your auto insurance which covers the insured in the case of them dying from accident related injuries, in which case the auto insurance coverage may provide a payment to the insureds designated beneficiary.

Such policy articulates the person who will obtain the proceeds, which is the amount of the death benefit, from the insurance business company whenever the designated person insured dies within the term of the insurance contract policy.

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.

You'll also pick a beneficiary — the person (s) or entity who'll receive the death benefit from your policy if you die while insured.

It sets the groundwork for the circumstances under which someone receives life insurance benefits, including accelerated death benefits — benefits from an insured who hasn't died but is terminally ill.

However, if the insured dies within the waiting period (180 days), the premium paid from the point of policy commencement, fewer taxes will be reimbursed to the claimant.

When adding an AD&D rider, also known as a double indemnity rider, to a life insurance policy, the designated beneficiaries receive benefits from both in the event the insured dies accidentally.

For this reason, insurance companies add the «Graded Death Benefit» clause to their final expense policies so that they can avoid insuring someone who is simply days away from dying from a natural cause (heart attack, cancer, stroke, etc, etc...) Now, since nobody can predict an accidental cause of death such as a slip and fall, motor vehicle accident, victim of crime, etc, etc... these types of deaths would be immediately covered without needing to survive beyond the 2 or 3 year waiting period (the graded death benefit).

Accidental death coverage provides payment to the insured's designated beneficiary in the event that someone who is covered on that auto insurance policy dies from accident - related injuries.

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 carrier insures you, and you die within the first two years, they could find out you withheld information from them and deny the claim.

The life insurance company conducted an investigation, after the insured died, and found that another person submitted to the insurance exam; apparently, the blood sample taken in a nursing home from Goodstein did not match with that provided in the examination.

The insured must have died within 180 days from the date of the accident.

Beneficiaries get paid from term life policies face value if the insured dies during the term.

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.

But an company likely will investigate a claim if the insured dies of a health - related cause — such as a «non-smoker» who dies from lung cancer.

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 an owner (insured) were to die, the policyowners (the company or co-owners) receive the death benefit from the policy.

The benefits obtained from it, after the insured dies is totally tax free.