Sentences with phrase «insured in life insurance policy»

Upon the death of the insured in life insurance policy, the beneficiaries become entitled to the death benefit.

Not exact matches

A renters insurance policy (known as an HO - 4) insures tenants living in almost any type of residence, including a manufactured home.

Like Life Insurance policy, a health insurance policy is a legal contract between insurer and insured; in which insured pays premiums and in returns, insurer agrees to pay for medical expenses for a specified limit or sumInsurance policy, a health insurance policy is a legal contract between insurer and insured; in which insured pays premiums and in returns, insurer agrees to pay for medical expenses for a specified limit or suminsurance policy is a legal contract between insurer and insured; in which insured pays premiums and in returns, insurer agrees to pay for medical expenses for a specified limit or sum insured.

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.

The cost of insurance over decades of potentially increasing premiums, all the while ensuring the insurance policy is large enough to cover the income tax liability, is problematic (alternatively one can wait until later in life to insure and take a chance on whether they can still obtain insurance).

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.

This non-linked and regular pay insurance rider provides 100 % Sum Assured in case of death of the Life Insured due to an accident, subject to the rider policy being in - force.

In contrast to term insurance, a whole life insurance policy pays the death benefit stipulated in the contract upon the death of the insured, regardless of when it may occuIn contrast to term insurance, a whole life insurance policy pays the death benefit stipulated in the contract upon the death of the insured, regardless of when it may occuin the contract upon the death of the insured, regardless of when it may occur.

Additionally, there may be less stringent life insurance underwriting criteria for such policies, especially in cases where one of the insured individuals is in good health, compensating for the other insured whose health may be anything but good.

Insurance Premiums: life insurance premiums are the payment due to keep the policy active and in force on the life of theInsurance Premiums: life insurance premiums are the payment due to keep the policy active and in force on the life of theinsurance premiums are the payment due to keep the policy active and in force on the life of the insured.

The FDIC does not insure the money you invest in stocks, mutual funds, life insurance policies, annuities, or municipal securities, even if you purchased these products from an insured bank.

In general, life insurance companies that know an insured has passed, but can not locate the beneficiaries of the policy, are required to turn over the benefits of the policy to the state's unclaimed property office if the benefits are not claimed after a certain number of years.

In exchange for premium payments, a life insurance policy provides a tax - advantaged lump - sum payment, known as a death benefit, to the beneficiaries when the insured passes away.

Earthquake insurance in Oakland, in the form of an endorsement on your renters policy, will cover not only your personal property that suffers a loss, but also your additional living expenses like a hotel if that earth movement loss prevents you from using the insured residence.

For example, if you are actively serving in the military, you can not be insured by Haven Life (still a great company for many other people), but you may get an excellent term life insurance policy from PrudentLife (still a great company for many other people), but you may get an excellent term life insurance policy from Prudentlife insurance policy from Prudential.

In the event of the insured's death, a life insurance death benefit will be paid to the named beneficiary on the policy - provided a claim is filed.

If you are both the owner and insured of a life insurance policy, the death benefit will be included in your gross taxable estate.

Just like we saw with whole life insurance, the death benefit works in exactly the same way in that it will be paid to the beneficiary as long as the insured passes away within the dates of the policy, i.e. the contract.

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.

War Clause: A provision in a life insurance policy excluding the liability of an insurance company if the insured's death is the direct result of a war.

The FDIC does not insure the money you invest in stocks, bonds, mutual funds, life insurance policies, annuities, or municipal securities, even if you purchased these products from an insured bank or savings association.

The FDIC does not cover money invested in stocks, bonds, mutual funds, life insurance policies, annuities or municipal securities, even if those investments were bought from an FDIC - insured bank.

A premium waiver, whereby if the insured becomes disabled, they can have the policy's premium payments waived, while still keeping their life insurance coverage in force

An interesting thing of note in regards to insurable interest and life insurance, is that insurable interest only needs to be present at the starting point of the policy but is not required to be present at the insured's death.

The death benefit of a life insurance policy is the amount paid out upon the death of the insured, while cash value refers to the amount of funds in a permanent life insurance policy's cash account.

In any case, it is important to note that with the PlanRight final expense whole life insurance policy, regardless of the insured's health condition, provided that the premiums remain paid, the coverage will never be cancelled by the insurance company.

A variable Universal life insurance policy is similar to universal, except the insured can participate in other investment tools such as mutual funds.

Non-deposit investment and insurance products, such as mutual funds, stocks, annuities and life insurance policies that may be sold through this website or at a Bank branch location, are not deposits, not FDIC - insured, not insured by any Federal Government Agency, not guaranteed by the Bank, and may go down in value (if applicable).

A life insurance policy covers one person, called «the insured» in insurance paperwork.

Life insurance protection comes in many different forms, but the primary purpose of any policy is to provide a death benefit upon the death of the insured.

However, the FDIC does not insure the money you invest in stocks, bonds, mutual funds, life insurance policies, annuities, or municipal securities, even if you purchased them through an insured bank or savings association.

If you live in an area of increased risk it is important that your home insurance covers these events and that you have enough insurance (sum insured) to rebuild or have a total replacement policy.

In addition to using the proceeds from a life insurance policy to continue paying living expenses, these funds can also be used for paying off debts of the insured, as well as for paying his or her funeral and other financial expenses — which today can exceed $ 10,000.

The money that is used to purchase the contract is placed into an escrowed trust account — typically an irrevocable trust — and that money makes premium payments to keep the life insurance policy in force until the insured dies.

Additional living expenses: If you're forced to evacuate your home, or are unable to live in it due to an insured loss, your tenant insurance policy will help offset the extra costs you'll face.

But keep in mind that loans from a life insurance policy will reduce the policy's cash value and death benefit, could increase the chance that the policy will lapse, and might result in a tax liability if the policy terminates before the death of the insured.

Life insurance policy is a contract between the insurers or insurance provider wherein a lump sum amount is promised as a death benefit to the beneficiary in the event of the policyholder's death, provided the policy was active and the premiums were paid till the insured's death.

Whole life insurance is a life insurance policy that remains in force for the insured's whole life.

The two are similar because in both cases, the insured is selling their life insurance policy to an investor.

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.

Dog liability insurance is a special policy that you can get to insure yourself in case you have what a landlord or other important person in your life might consider a «dangerous dog breed.»

Insurance Broking, including brokers» duties to clients on preparation of proposals, notification of insured events and other communications with underwriters; Underwriting decisions; Reports for insured parties and underwriters in cases where underwriters are seeking to avoid a policy; Disputes between insurers and reinsurers; and Personal insurance cover, including life and health insurance, residential property, PPI and motoInsurance Broking, including brokers» duties to clients on preparation of proposals, notification of insured events and other communications with underwriters; Underwriting decisions; Reports for insured parties and underwriters in cases where underwriters are seeking to avoid a policy; Disputes between insurers and reinsurers; and Personal insurance cover, including life and health insurance, residential property, PPI and motoinsurance cover, including life and health insurance, residential property, PPI and motoinsurance, residential property, PPI and motor claims.

However, if a policy does not specify a limitation period (or has a limitation period that is offside the Limitation of Actions Act), and the policy falls within the purview of the Insurance Act as a policy for life or disability insurance, an insured's claim will have a one - year limitation period as set out in the InsuraInsurance Act as a policy for life or disability insurance, an insured's claim will have a one - year limitation period as set out in the Insurainsurance, an insured's claim will have a one - year limitation period as set out in the InsuranceInsurance Act.2

215 ILCS 5/143.1: Period of limitation tolled Whenever any policy or contract for insurance (except life, accident and health, fidelity and surety, and ocean marine policies) contains a limitation period in which the insured may bring suit, the running of the period is tolled from the date proof of loss is filed, in the form required by the policy, until the date the claim is denied in whole or in part.

Nothing in this section is intended or shall be construed to apply to any accident insurance policy insuring against accidental death or death by accidental means or to those parts or provisions of any life insurance policy insuring specifically against accidental death or death by accidental means.

Our primary areas of expertise include term life insurance, universal life and equity indexed universal life, disability income insurance, in - force policy review, insuring tough health issues, business insurance including business succession and key man life and disability insurance, as well as estate planning.

Accidental death life insurance is an insurance policy that pays out benefits to your beneficiary in the event of accidental death of the insured.

Life insurance policies are regulated by the state the insured person lives in, so it depends first on state regulations for life insuraLife insurance policies are regulated by the state the insured person lives in, so it depends first on state regulations for life insuralife insurance.

Numerous in - force decreasing term insurance policies take the form of mortgage life insurance, which affixes its benefit to the remaining mortgage of an insured's home.

This rider offers an accidental death benefit that is equal to the policy's face amount — and pays out in addition to the whole life insurance benefit if the insured dies as the result of a covered accident.