Sentences with phrase «insured keep their policies»

While the premium for permanent life insurance may initially be higher than that of term life coverage, in most cases, the amount due will not increase over time — regardless of how long the insured keeps the policy.

Not exact matches

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

A «noncancelable» policy is similar to the «guaranteed renewable» in that the insured has the contractual obligation to keep the coverage in force if premiums are paid on time.

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

After the grace period ends, your policy will lapse, you will no longer be insured and the life insurance company keeps all your premiums paid.

Your employer may offer some health cover but often insurance policies from employers keeps one under insured.

The insured has the choice of either deferring the medical examination for up to six months or choosing not to undergo the medical exam at all and just keeping the blended policy in force as it is issued.

Also keep in mind that it's not always necessary to insure your land as it will still be there even if your house is destroyed, so check your policy and talk to your agent about removing this coverage if it is already included.

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.

It's important to get the dwelling coverage right, and to monitor it over time to make sure it's keeping up with construction costs — under most homeowners policies, if you file a claim and are found to have been under insuring your home, your payout maybe reduced.

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.

Whether you're able to cover your pet under a policy, or you just want to keep your insured pup healthy with preventative measures, here are a few tips for taking the edge off rising vet costs.

In addition to notifying the insurance carrier with whom you have your auto insurance, keep in mind you may be insured under other policies issued to members of your household.

One thing to keep in mind when evaluating and comparing insurance policies is the choice involves more than just a policy; the insured is also choosing a service company.

You will be insured properly if you have kept photos, receipts and updated policy details throughout the year.

However, insured people can work to keep their insurance premiums low by reducing their risks, selecting a deductible, grouping coverage, and comparison shopping before renewing a policy.

Another benefit to insuring all of your cars with the same company is that you don't have to keep track of what multiple companies cover for the same portion of your policy.

As neither the cash value nor the death benefit is predetermined or guaranteed, the policyholder bears the risk of a poor fund performance which results in the decreased amount of the death benefit and the cash value and the increased premiums the insured has to pay to keep the policy in effect.

For example, if the insured lives five years longer than the illustrated «life expectancy,» the premiums to keep the policy in - force will need to be paid for an extra five years and the death benefit proceeds will be paid five years later than illustrated.

Since the policies are being purchased as investments and will be kept active until the death of the insured, age requirements are at minimum individuals over 65 with some degree of health history.

Typically lasting a few years, business overhead expense policies are designed to keep the business afloat while the insured recovers or if recovery is not possible, then allow for them to sell it.

«An insurance adviser is invaluable in helping you choose the right policy: guiding you through the sum insured process and getting you the right expert help if required, as well as keeping in touch regularly to make sure the information you provide to the insurers is always up to date, which is so important come claims time.»

Just keep in mind you will need to document your requirement to work, otherwise it becomes a «cancel for any reason» policy with insureds simply claiming they had to work.

Holding the policy in an irrevocable trust allows the insured to keep the policy out of his or her taxable estate, possibly reducing eventual estate tax liability, though they give up rights to access the cash value prior to death.

As you search for a lost policy, keep in mind that if it was a term life insurance policy, then you as the beneficiary collect the benefit only if the insured person died within the term.

Incentives given by an insurer as an additional benefit to the insured for keeping the policy in full force throughout the term of the contract is called loyalty addition.

Each policy is priced for an individual to keep over a long period of time and set according to insured's age at time of purchase.

The company also recommends getting an annual checkup of insureds» policies to see that policyholders understand their Nationwide Auto Insurance benefits and declarations, as well as new discounts or changes to keep premiums level and coverage adequate.

When the child / insured turns age 18, the amount of the life insurance protection automatically doubles — and, if the premium is paid, the child can continue to keep the policy into adulthood, regardless of age or health condition.

If the insured parent isn't the primary caretaker but will be paying child support throughout the child's life, the parent who was slated to receive the payout of the policy may very likely have a case to keep the benefits of a policy.

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

For example, many specialty auto insurance policies may require that an insured vehicle be kept in a locked garage or trailer when not in use.

The premium of monthly income plans include annual, half - yearly, quarterly, monthly, or lump sum amounts that are paid by the insured to the insurance company to keep the policy in force.

In Colorado, all drivers are expected to keep their vehicles insured with at least a current liability policy.

A standard Home insurance policy insures the home itself along with the things kept inside.

b) The employee provides written consent to being insured under the policy and that the employer may choose to keep the policy in force even after the employee separates from services from the employer; and

You could also layer life insurance policies to keep yourself from being over insured at the end of your mortgage.

This policy can be set up to last throughout the lifetime of the insured, using a combination of the premium and the cash account to keep it enforced.

Also keep in mind that it's not always necessary to insure your land as it will still be there even if your house is destroyed, so check your policy and talk to your agent about removing this coverage if it is already included.

This means that, upon death of the insured individual, the policy only pays out if payments have been kept current; if payments stop before the individual dies, the policy is no longer in force and will not pay out any money.

Then, once the initial policy has expired, it will be required that the insured renew the policy if they want to keep coverage in force.

Policy information is not kept within a national insurance database or other central location; instead, it is the responsibility of each insured to share policy or annuity information with beneficiPolicy information is not kept within a national insurance database or other central location; instead, it is the responsibility of each insured to share policy or annuity information with beneficipolicy or annuity information with beneficiaries.

After the time has elapsed, policy holders have the option of keeping the coverage as an annually renewable plan, which provides a level amount of death benefit until the insured turns age 98.

This will keep the policy in force, and allow the remaining 50 percent of the death benefit to be paid to the policy's named beneficiary at the time of the insured's death.

The insured's age, health status, lifestyle and employment at the time of the policy's creation will factor into the amount of premium the policyholder will have to pay to keep the policy in force.

Keep in mind that, if you choose to cancel your policy, you won't be paying insurance premiums but will also be faced with higher rates when you need to be insured again.

The waiver of premium rider keeps the insurance policy in force by waiving the periodic premiums if the insured becomes disabled and is unable to pay the premium.

This is because, as the policy holder's circumstances change, the primary insured can modify the coverage to keep payments affordable.

Keep in mind, the trust could be disqualified if the policy is paid directly to the insured.

This renewable term will be so expensive that most insureds will not be able to keep the policy.