Sentences with phrase «lapse due»

Whole life insurance policies lapse due to non-payment.

Whole Life Insurance policies lapse due to non-payment.

If you do, there could still be a chance your contact could lapse due to nonpayment of the life insurance policy premiums.

On expiry of 2 years from the date of policy lapse due to the failure of premium payments, where the policy has not been reinstated and the policy has not acquired any Paid - Up value.

Continuing the prior example, assume that Sheila had accumulated a whopping $ 100,000 policy loan against her $ 105,000 cash value, and consequently just received a notification from the life insurance company that her policy is about to lapse due to the size of the loan (unless she makes not only the ongoing premium payments but also 6 % / year loan interest payments, which she is not interested in doing).

It may happen that the premium applicable when the life insured is older may be too high for him to pay and a policy lapse due to non-payment of premium would leave him without insurance cover at an age when he needs it most.

The bottom line, though, is that in today's low - return environment, not wanting or needing permanent life insurance anymore — whether due to a change in estate planning needs because of the increased - and - now - portable $ 5.25 M estate tax exemption, or a general change in needs and circumstances, or a policy that is in danger of lapse due to underperformance — is not necessarily a reason to cancel it.

Con's are the most obvious being the cost of it which you will see the quotes for permanent life are much higher than term life, if not structured properly can lapse due to insufficient funding, and cash value accumulation can be minuscule not making it worthy investment tool.

The good news is there are a few ways to make sure your valuable life insurance policy doesn't lapse due to non-payment.

A recent WSJ article highlighted a persistent problem that I have previously noted on this blog: universal life insurance policies that become unaffordable for insureds, lapse due to insufficient funds, and leave their estate planning in shreds.

For more than 100 years, insurance regulators have required that permanent life insurance policies have certain equity rights, even when the policy might lapse due to non payment of premiums.

This will ensure that the policy does not lapse due to excessive loan activity and trigger income tax due on cash values.

If a business policy is in effect and the business closes, policies are generally not going to be renewed and will lapse due to non-payment.

Assuming policy does not lapse due to insufficient premiums paid.

Nonforfeiture Values For more than 100 years, insurance regulators have required that permanent life insurance policies have certain equity rights, even when the policy might lapse due to non payment of premiums.

While the benefit is being paid, the life insurance will not lapse due to nonpayment if it is a condition of the rider.

In other words, your policy might ordinary lapse due to insufficient cash value accumulation or rising insurance costs, but the policy will remain in force anyway.

If elected, the guarantee provided by this benefit may help you avoid tax consequences of a policy lapse due to excessive loans or withdrawals.

Drivers across the nation are more and more often letting their auto insurance policies lapse due to the poor economy, according to the Wall Street Journal.

Four outcomes are possible: the original breed (less plushly furred) will be restored (unlikely, the current British Shorthair is widespread); there will be two British Shorthair breeds (possible, but a new name will be needed e.g. Irish Shorthair); the Scottish and Irish cats will be introduced into British Shorthair bloodlines (unlikely, breeders are too jealous of the purity of their bloodlines); or the breeding of the Scottish / Irish cats will lapse due to lack of interest.

Between work and a 10 month tiime lapse due to unexpected occurrences, it took 2 years to write the first half of the book.

Their insurance had lapse due to the husband's recent job loss and their inability to afford -LSB-...]

The Budget justifies the increase in the lapse due to the experience in 2011 - 12, where departments / agencies spent approximately $ 10 billion less than they were authorized by Parliament.

He makes WAY to many mistakes now and has numerous mental lapses due to being a hot head STILL at 29 yr old.

The process to restore a policy that had previously lapsed due to nonpayment of premiums.

ALERT — we are hearing about more and more cases where time limitations for filing have lapsed due to plaintiff's legal representatives failing to meet limitation period deadlines.

But the whole effort gets futile when your policy lapses due to non-payment of premiums on time.

However, if your insurance policy lapses due to non-receipt of your insurance premiums within the first three years, it can be revived (re-instated) within two years from the date your life insurance coverage lapsed.

If you have a policy from the Life Insurance Corporation of India (LIC) that lapsed due to some reason, here is your chance to revive it.

In the same manner, it is also possible to revive the policy if it has lapsed due to the non-payment of premium amount.

If your insurance policy lapses due to a missed payment, you are not out of luck.

Automatically included at policy issue, this rider protects your policy from lapsing due to excessive indebtedness by providing a guaranteed paid - up benefit (provided qualifications are met and the rider is exercised according to the rider terms).

Usually in the absence of this rider, due to loss of income or any disability, your policy lapses due to non-payment of the premiums on time.

This is because, if the policy lapses due to non-payment you are goals get affected and dent your savings.

Apart from this, you also lose out the death benefit at the time of your death since the policy lapses due to non-payment of the premiums regularly.

If the policy lapses due to the death of the insured, the beneficiary will collect the full death benefit.

The filing also says that the issuing insurance company will notify the Florida DMV if the insurance is ever found to have lapsed due to non-payment or cancelation.

Yes, the policy which has acquired a paid - up value or has lapsed due to the failure of premium payments can be renewed during the policy renewal period by paying the premium arrears along with the current interest rates.

If the policy lapses due to the failure of premium payment, it can be reinstated to full benefits any time before maturity.

An insurer will not settle a claim if your policy has lapsed due to unpaid premiums.

As a rule, the policy claim is admissible only if the policy is in force and not lapsed due to late or non-payment of premium.

If the policy has lapsed due to unpaid premiums, it can be revived paying these premiums along with interest and providing evidence of good health during this period.

However, you will need to ensure that the available cash is sufficient to prevent the policy being lapsed due to unavailability of cash.

The extra surcharges allowed to be charged by insurers for coverage lapses due to non-payment may force many drivers struggling economically to drive without insurance.

If the policy lapses due to non-payment, the premiums that have been paid into it are not refunded to the insured unless there was a «return of premium» stipulation in the policy itself.

As I understand, the policy would have lapsed due to non-payment of premium.

Since the premium was paid for just one year, the policy would have lapsed due to non-payment of premium.

If the policy has lapsed due to nonpayment of premiums, death benefit is not payable.

Not exact matches

Did White not know about the complaint against Rice (lack of due diligence) or was this a lapse of transparency (not good for those enforcing disclosure laws)?

However, rarely due they spend the total amount authorized, due to a number of reasons, as outlined by the Parliamentary Budget Office (Parliamentary Budget Officer 2015 «Why does the Government lapse money and why does it matter?).