Sentences with phrase «insured person dies»

The face amount of the policy is paid to the beneficiary only if the insured person dies during the period covered by the policy.

For a fixed - amount whole life insurance policy, the amount of the death benefit payable if the insured person dies while the policy is in force.

Act of war exclusions protect insurance companies from having to pay death benefits to beneficiaries if the insured person dies as an act of war.

Both individuals are covered by the same policy, but joint policies pay after the second insured person dies.

A plan in which the amount is paid to a policyholder if he outlives the tenure of the contract or to the beneficiary if the insured person dies before the date on which the policy matures.

Pure term plans pay a benefit if the insured person dies during the policy term.

The death benefit of a term life policy is paid out if the insured person dies during the duration of the policy «term».

If the insured person dies within the period of the policy, the nominee gets insured amount.

Because, you purchased life insurance with a goal in mind - To provide for your family in case the insured person dies.

If the insured person dies within the 15 - year period of time, the death benefit of $ 250,000 is paid out to the beneficiary of the life insurance policy.

The insured person also benefits from knowing (peac eof mind) they have secured financial protection for the beneficiary in case the insured person dies.

The payment is made in lump - sum amount if the insured person dies during the tenure of the plan.

There are accidental death insurance policies which only pay out a claim if the insured person dies from a covered type of accident and within a certain period of time of the accidents occurrence.

War Exclusion Clause: This is a provision in life insurance policies that death benefits will not be paid in the event that the insured person dies from war related causes.

The purchasing party possesses the beneficiary rights when the insurance sale contract is perfected and gets the benefit when the insured person dies.

I've explained in the past how essential it is for unmarried couples or business partners to have a power of attorney to be able to sign a release of medical records for life insurance in the event that the insured person dies during the two year -LSB-...]

If the policy is an accidental death insurance policy, it will explain that the policy will not pay if the insured person dies from an illness or natural death.

If the insured person dies from an accident covered by the policy, the beneficiary will be paid the death benefit.

Beneficiaries receive the death benefits when the insured person dies.

The lump sum which the insurance buyer pays to the viator entitles him or her to become the beneficiary by getting the pay - out from the insurance policy in the event of the insured person dies.

The death benefits are guaranteed to be paid out if the insured person dies from a covered cause of death while the life insurance policy is «In Force».

If the insured person dies during this period, the beneficiaries receive the proceeds income tax - free.

Virtually all individual life insurance policies contain a clause denying payment if the insured person dies from suicide during a certain period after a policy goes into effect, says Paul Graham, senior vice president of insurance regulation and chief actuary of the American Council of Life Insurers.

When the insured person dies, the beneficiary files a claim for payment of the death benefit.

They provide cover for a specified period, and if the insured person dies while the policy is active, the nominee receives the claim amount.

In case the insured person dies without surviving till the maturity date, the nominee of the insured person would be paid the «Sum Assured on Death» + vested bonuses as Death Benefit.

In case the insured person dies after the Vesting Date, the payment depends purely on the pension option chosen by the individual and is paid to the nominee.

This amount will be deducted from the total benefit amount when the insured person dies.

As long as the bill is paid each month the policy continues on as usual and, if the insured person dies, whoever is named as the beneficiary will receive the life insurance benefit.

A guaranteed issue policy will accept almost everyone who applies, but to protect the insurance company from risk, these polices do not offer a full payout if the insured person dies within the first 2 years of the policy.

● Single Pay plan: If an insured person dies within the first five years of the policy and provided all the premiums are paid, the nominee will be provided with the Basic Sum Assured + accrued Guaranteed Additions.

Per the policy that is purchased, when the insured person dies the policy will pay the death benefit to the listed beneficiary or beneficiaries if more than one is listed.

If the insured person dies before the conclusion of the policy period, the following events can occur under the LIC Bima Bachat Plan:

Insurance cover provides benefit to the beneficiaries if the insured person dies in the covered period.

The death benefit is also paid if the insured person dies after the completion of the policy term.

Within the first year of the policy: If an insured person dies within the first five years of the policy and provided all the premiums are paid, the nominee will be provided with the Basic Sum Assured + accrued Guaranteed Additions.

This is especially true if the insured person dies within two years of purchasing the life insurance policy.

The nominee gets the sum assured if the insured person dies during the policy term.

When any insured person dies, the life insurance company that issued the policy may place the death benefit proceeds into a retained asset account.

Because these do not cancel until the policy is surrendered, terminated for non-payment or the insured person dies, these policies are more expensive when compared to term life insurance.

No amount will be paid if the insured person dies before a claim has been processed under this plan.

If the insured person dies during the tenure of the policy, the lump sum benefit will be passed on to the beneficiary.

It helps mitigate financial risks that the nominees may face after the insured person dies.

Term insurance is the simplest form of life insurance plan that offers comprehensive life coverage over a period of time and in case the insured person dies during the tenure of the policy, the guaranteed death benefit is payable to the nominee of the policy.

With most UL policies, if an insured person dies, the insurance carrier pays the death claim but retains the cash reserves.

If the insured person dies or gets totally or partially disabled through a natural illness, such disability (or death) will not be covered under a personal accident policy.

This coverage pays the full benefit if an insured person dies within 72 hours of a sudden cardiac arrest.

A normal Ulip stops if the insured person dies.

Say, for example, an insured person dies of heart disease shortly after buying a policy.

Life insurance is an insurance policy that will pay out an amount of money if the insured person dies.