Sentences with phrase «insurer pays a death benefit to the beneficiary»

Not exact matches

If you do designate your child as your beneficiary, when the insurer pays out, the death benefit will go to a trust overseen by a court - appointed guardian, who will hold onto the money until the child reaches the «age of majority.»

If your beneficiary tries to claim the death benefit and the insurer finds out you died from a previously undisclosed alligator - wrestling avocation, the insurer could recalculate your premiums to the amount it believes you should have been paying and subtract that amount from the payout.

If you pass away during this period of time, the insurer wouldn't pay the full death benefit to your beneficiary.

Since the insurer is guaranteed to pay a death benefit to your beneficiaries so long as all premiums are paid, permanent life insurance rates are significantly higher than those for term life insurance.

If you haven't been keeping up with your insurance premiums, your insurer will not pay out the death benefit to your beneficiaries when you die, rendering the whole thing useless.

You choose a death benefit and pay a premium for a certain «term» and if you die during the «term» the insurer pays out the death benefit to your named beneficiary.

Term life insurance is defined as a contract between the owner of the policy and the insurer, for a policy on the life of the insured, whereupon the insured's death, the insurer pays a lump sum death benefit to the beneficiary.

The inner - workings of cash value life insurance consists of a life insurance policy, which is a contract between the policy owner, the insured (often the same person), and the insurer, where the insurer agrees to pay a death benefit to the policy's beneficiary, based on the owner continuing to make the policy's premium payments.

In cases where there are multiple beneficiaries, the insurer will split the death benefit according to the instructions you've left in your contract, but otherwise still pay each recipient a lump sum.

If you die while the policy is in effect, then the insurer pays the full death benefit to whomever you've named as the beneficiary.

Aside from certain exceptions, if you die while your policy is in force, your insurer will pay out a death benefit to your beneficiaries.

The insurer is of course the company that is providing the life insurance coverage and the insured is the person whose death causes the insurer to pay the death benefit to the designated beneficiaries.

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.

In case the insured dies during the grace period, the insurer is liable to pay the death benefit (coverage amount) to the beneficiary named in the policy, less any amount outstanding (including the unpaid premium).

In life insurance, the insurer agrees to pay the beneficiaries a specified sum (death benefit) to indemnify them for the financial loss resulting from the death of the insured.

The insurer agrees to a pay a designated beneficiary (the loved one (s) of your choosing) a sum of money (the «death benefit») if you die.

If you pass away from an accident during the first two years coverage, the insurers will pay the full death benefit to your beneficiary.

If your beneficiary tries to claim the death benefit and the insurer finds out you died from a previously undisclosed alligator - wrestling avocation, the insurer could recalculate your premiums to the amount it believes you should have been paying and subtract that amount from the payout.

If you die while the policy is in effect, then the insurer pays the full death benefit to whomever you've named as the beneficiary.

You pay a monthly premium — typically about one fourth the cost of whole life premiums — in exchange for the promise that your life insurer will pay out a pre-set death benefit (also known as your «coverage» or «face amount») to your survivors (also known as «beneficiaries»).

If you die while your policy is in force, the insurer will pay out a death benefit to the beneficiary of your choice.

Since the insurer is guaranteed to pay a death benefit to your beneficiaries so long as all premiums are paid, permanent life insurance rates are significantly higher than those for term life insurance.

If any loans amounts are outstanding — i.e., not yet paid back — upon the insured's death, the insurer subtracts those amounts from the policy's face value / death benefit and pays the remainder to the policy's beneficiary.

Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder).

By purchasing life insurance, you gain the assurance that your insurer will pay a death benefit to your named beneficiaries upon your death (as long as your policy is still in force at that time).

This means that the insurer has a restriction where they will not pay out death benefits to a beneficiary if you were to die in the first 2 years when the policy comes into effect.

Aside from certain exceptions, if you die while your policy is in force, your insurer will pay out a death benefit to your beneficiaries.

The better the financial rating, the better the chance your insurer will be able to pay your beneficiary the life insurance claim (death benefit of your policy) if you should die.

So, you pay premiums to the insurer, and if you die, the insurer pays out a life insurance death benefit to your family (beneficiary).

A policy is a life insurance contract between you, the policy owner and insured, and the insurer, where the insurer agrees to pay a death benefit to your beneficiary upon your payment of premiums.

Life insurance is a contract between an insured (insurance policy holder) and an insurer, where the insurer promises to pay a designated beneficiary a sum of money (the «benefits») upon the death of the insured person.

The death benefit is the amount the insurer agrees to pay your beneficiary in the event of your death.

Accidental Death: When the policyholder opts for this additional rider, the insurer will pay accidental death benefit in addition to the Death Benefit to be given to the beneficDeath: When the policyholder opts for this additional rider, the insurer will pay accidental death benefit in addition to the Death Benefit to be given to the beneficdeath benefit in addition to the Death Benefit to be given to the benefbenefit in addition to the Death Benefit to be given to the beneficDeath Benefit to be given to the benefBenefit to be given to the beneficiary.

If you die during the term, the insurer will pay a lump sum death benefit to your designated beneficiary.

DEFINITION of Life Insurance: Life insurance is a contract between the owner and the insurer, where the insurer agrees to pay a death benefit to the beneficiary upon the death of the insured.

If you pass away during this period of time, the insurer wouldn't pay the full death benefit to your beneficiary.

If the insured dies because of natural causes, the insurer will not pay the full death benefit to the beneficiary but instead will pay the total of all premiums paid to the company plus an additional small percentage of that amount.

Term life insurance is defined as a contract between the owner of the policy and the insurer, for a policy on the life of the insured, whereupon the insured's death, the insurer pays a lump sum death benefit to the beneficiary.

Should you pass away while the policy is active, then the insurer pays the full death benefit to the person you named as your beneficiary.

The better the rating, the better the chance your insurer will be able to pay your beneficiary the life insurance claim (death benefit of your policy) if you should die.

With term life you select the duration of coverage and pay your premiums each month (or annually) and the insurer agrees to pay out a death benefit to the person you choose (beneficiary) upon your passing, if you die during the term of your life insurance policy.

If the owner of the policy is also the named insured, the insurer ordinarily pays the death benefit to the named beneficiary.

With an annuity, the insurer will pay the balance of your policy's death benefit over time, allowing them to continue to earn interest on the remaining money they owe your beneficiaries.

It's simple — You pay the insurance company a monthly or annual premium for a set amount of life insurance for a specific period of time, and the insurer agrees to pay out a death benefit to your beneficiary (you choose) upon your passing.

You agree to pay premiums to the insurer, and in return, if you die, the insurance company agrees to pay a death benefit to the person (s) you choose — your beneficiary.

· Save Benefit - Under this option, the Sum Assured is paid immediately on Death or Diagnosis of any of the Critical Illnesses mentioned and 100 % of the future premiums are paid by the insurer towards the Fund such that the entire Fund Value is paid to the beneficiary when the policy matures

· Save - n - Gain Benefit - Under this option, the Sum Assured is paid immediately on Death or Diagnosis of any of the Critical Illnesses mentioned and 50 % of the future premiums are paid by the insurer towards the Fund such that the entire Fund Value is paid to the beneficiary when the policy matures.

Insurance carriers rate your risk of dying prematurely, thus resulting in the insurer having to pay the death benefit to your beneficiaries before you make a significant amount of premium payments.