Sentences with phrase «insured people maintain»

This law is in place to make sure insured people maintain their coverage continuously.

Not exact matches

Insuring the difference in income means that if the higher income person dies, the lower earning person can maintain their standard of living while they rebuild their life,» says Bruce Sellery, contributing editor at MoneySense magazine.

The main objective of life insurance is to provide financial funds in case an insured person dies so that their family members, significant others or any other beneficiaries can maintain their living standards.

In Evans v Secretary of State for Transport and the MIB [2003] ECR I - 14492 (ECJ Case C - 63 / 01) the Court of Justice of the European Union (CJEU) ruled that the UK's obligation under what is now Art 10 is to set up and maintain a system to provide compensation to victims of injury caused by untraced drivers «equivalent to, and as effective as, that available to persons injured by identified and insured vehicles».

A viatical settlement occurs when a person who is chronically or terminally ill sells his or her whole or universal life insurance policy to a third party that maintains the premium payments and receives the death benefit when the insured dies.

In most cases, if the insured remains with the company and that person continues to be critical to the organization's success, the policy is maintained.

Insuring the difference in income means that if the higher income person dies, the lower earning person can maintain their standard of living.

As long as the conditions of the policy have been maintained and payments made on time, the insured person is not required to undergo any new or additional screening at the time the policy is converted, regardless of his / her medical condition.

Generally speaking, of all the people auto insurance companies insure, they must maintain a balance.

If the hypothetical family of the insured is not entitled to the death benefit of a life insurance policy and the hypothetical person passes away, they now are stuck paying for a very expensive burial process, paying taxes on the remaining estate, and dealing with maintaining their lifestyle and providing for their well being.

In order to maintain ethical uses for life insurance, laws require that an owner have what is known as an «insurable interest» or must be a direct family member, to the insured person.

Term insurance companies reward the insured people for maintaining a healthy life - style, if applicable, with special premium rates for non-smokers and medically fit non-smokers.

For example, you could select a child or grandchild as the insured person and maintain the policy in your name.