Sentences with phrase «insured persons dies»

The death benefit is paid out if either of the two insured persons dies.

• Life insurance claims are filed when an insured person dies so his or her beneficiary receives the death benefit payout.

If no long - term care benefits are paid, then the policy pays out the full death benefit when the insured person dies.

Term life insurance policies pay a death benefit if the insured person dies within the policy term, such as 10, 20, or 30 years.

With a life insurance policy, if the insured person dies, the life insurance company will pay out a death benefit to the beneficiaries.

Which means that if the insured person dies within the first two years of the policy, the company will pay 110 % of premiums paid, but not the payout of the policy.

When the insured person dies, no matter at what age, the policy is paid to their designated beneficiaries.

Life insurance benefits are typically paid when the insured person dies and the beneficiary files a claim with the insurance company and provides a certified copy of the death certificate.

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.

(3) No optional dependant care benefit is payable in respect of an expense incurred after the insured person dies.

(2) No payment is required under this section in respect of an expense incurred after the insured person dies.

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

Term life insurance policies pay the beneficiary the face amount of the life insurance policy if the insured person dies during the term of the policy.

If the insured person dies within the 10 year period, the beneficiary receives the $ 150,000 (face amount of the policy).

It has no surrender value or equity and any benefits are only paid out if the insured person dies.

A trustee, usually a bank or trust company, manages the trust and pays the insurance premiums, and distributes the insurance benefit to the trust beneficiaries after the insured person dies.

This type of life insurance allows the insured person to tailor the life insurance to suit their needs and lifestyle, it is a permanent type of insurance and death benefits are paid out if the insured person dies.

The IRS has rules that determine who owns a life insurance policy when the insured person dies.

The main difference between term life insurance and whole life insurance is with term life insurance, when the insured person dies, it just pays the face amount of the policy to the named beneficiary.

If the insured person dies during that period of time the Beneficiary receives the death benefit.

Term life insurance policies pay a death benefit if the insured person dies within the policy term, such as 10, 20, or 30 years.

It is the cheapest form of life insurance since it only pays the death benefit if the insured person dies during the specified term period.

If you're the beneficiary of a life insurance policy, you might think a check will arrive in the mail after the insured person dies.

The principle is based on the idea that in order for there to be a reason for the issuance of a policy, there has to be a family or business relationship in which the beneficiaries would suffer if the insured person dies.

If the insured person dies and the policy has a cash value, the cash value is often paid out tax free, in addition to the policy face amount.

The death benefit is paid to the beneficiary if the insured person dies during the one year period of time in which they term lasts for.

The death benefit of a life insurance policy which is the amount the beneficiary receives when the insured person dies.

When an insured person dies, the life insurance company reaches into this pot to pay the death benefit.

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.

This undermines the primary purpose of life insurance, as the investors would incur no financial loss should the insured person die.

Term life insurance, as the name suggests, is a life insurance policy that covers a set number of years and would pay the lump sum death benefit to the beneficiary if the insured person died during the term of the policy.

If the insured person dies during the tenure of the policy, then the death benefit is paid to the nominee of the policy i.e. the child as the sum assured amount, which is 105 % of the total premium paid till demise.

When an insured person dies within the 2 - year contestability period, the insurance company can by all means exercise its right to contest the validity of the insurance policy and the claim.

When the insured person dies, the remainder of the death benefit is paid to the Beneficiary, just as under a traditional life insurance policy.

This rider pays an additional amount on top of the regular death benefit if the insured person dies in an accident.

If no long - term care benefits are paid, then the policy pays out the full death benefit when the insured person dies.

This type of Life Insurance has no cash value, i.e. no benefits are paid when the policy is expired or the insured person dies after policy expiration.

Life insurance benefits are typically paid when the insured person dies and the beneficiary files a claim with the insurance company and provides a certified copy of the death certificate.

A term life policy, which could be in force for 10, 20 or even 30 years, will be cheaper, because it does not have a savings or investment component, and it only pays out if the insured person dies during the time the policy is in place.

Compensation is provided if the insured person dies due to accident.

Change of the death benefit type, for owners of universal life insurance policies, can also be made that will either include or exclude in the proceeds any accumulated cash value when the insured person dies.

The premiums for these products — which are designed to pay a death benefit no matter when the insured person dies — are driven by expected investment returns as well as by the same forces that affect term rates, Dr. Weisbart said.

In some cases, if the insured person dies within 2 - 3 years of purchasing the policy, then the beneficiaries only get refunded the premiums paid up to that point.

And, if the insured person dies while insured by the policy, the insurance company pays out a death benefit to the beneficiary chosen by the insured.

Once the life insurance policy is placed in the trust, the insured person no longer owns the policy, which will be managed by the trustee on behalf of the policy beneficiaries when the insured person dies.

If the insured person dies within the first 2 years, a company will often refund all of the premium paid and in addition to that, pay interest.

If an insured person dies during the free look period, a full death benefit must be paid to beneficiaries of the contract.

a type of insurance where the insurance company pays a specified amount if the insured person dies while covered but there is borrowing power, benefits at retirement, or cash value; also called [term insurance]

«Graded benefits» — if the insured person dies within a specified amount of time, they will only get a portion of the death benefit or a portion of their premiums paid will be returned

That's because when an insured person dies, the insurer has to pay up.