Sentences with phrase «life insurance contract where»

Such plans are a long term life insurance contract where the policyholder has to pay premium throughout the tenure of the policy or may opt for single pay or limited payment option.

Not exact matches

With limited pay policies, particularly those that are funded using paid up additions, it is important to keep an eye on the MEC level where your policy changes from life insurance to a modified endowment contract.

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.

Now the idea is to over-fund your policy right before the point, but not to the point, where the life insurance policy becomes a modified endowment contract.

Alabama but having a resident employee in Alabama whose employment includes making consumer loans or taking assignments of consumer credit contracts shall obtain a license for the location where the creditor maintains its records regarding Alabama loans or Alabama consumer credit contracts; and provided further, that, banks chartered by this state or any other state, banks chartered by the United States, trust companies, savings or building and loan associations, savings banks and other thrift institutions, credit unions, life insurance companies, and federally constituted agencies shall be exempt from licensing.

Whole life insurance defined: A whole life policy is a type of permanent life insurance where a contract is entered into between the policy owner and insurer, for a policy, which covers the life of the insured, for a specified insurance coverage amount, for the benefit of a beneficiary.

A type of life insurance where the contract is renewed each year with a premium payment.

22 The right under sections 1 and 3 to equal treatment with respect to services and to contract on equal terms, without discrimination because of age, sex, marital status, family status or disability, is not infringed where a contract of automobile, life, accident or sickness or disability insurance or a contract of group insurance between an insurer and an association or person other than an employer, or a life annuity, differentiates or makes a distinction, exclusion or preference on reasonable and bona fide grounds because of age, sex, marital status, family status or disability.

Life insurance is a contract where, in exchange for premium payments, a lump sum of money is paid upon the death of the insured person.

Answer: A life insurance contract issued for a maximum number of years where the premium, death benefit, and price you pay are guaranteed not to change.

Life insurance is a contract between the policy holder and the insurance company where the insurer agrees to pay a sum of money to the beneficiary of the policy when the person who is insured dies.

Added feature where the policyholder can not make changes to the life insurance contract without the beneficiary's consent.

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 holdLife 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 holdlife 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).

It's important to note that no life insurance company can lock you into a contract where you are forced to continue paying your premiums.

It defines life insurance «as a contract between and insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person.»

On October 25th of 1983, a bill was introduced to the senate which sought to clarify how a life insurance contract was viewed according to the Internal Revenue Code, where cash accumulation was involved, or what we call ordinary life insurance contracts.

The free look provision is a period of time where any purchaser of life insurance is entitled to refuse the contract for any reason, and receive a full refund of any monies paid.

Investing in whole life is really an investment in a two sided contract where both you, the insured, and the insurance company each have duties.

If you travel to dangerous areas like war zones or regions where the chance of contracting a deadly illness is high, some insurers might consider you at a higher risk of death and increase the rate you would pay for life insurance.

DEFINITION of «Annual Renewable Term (ART) insurance», a term life policy where the initial contract is for one year, that renews annually, and offers you guaranteed insurability for a set number of years, as well as a level death benefit.

A life insurance policy is a contract between you and the insurance company where each party has its own duties.

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.

Whole life insurance defined: A whole life policy is a type of permanent life insurance where a contract is entered into between the policy owner and insurer, for a policy, which covers the life of the insured, for a specified insurance coverage amount, for the benefit of a beneficiary.

Life insurance is a contract between a person or policyholder and an insurer or Insurance Company, where the insurer promises to pay a designated beneficiary a specified sum of money, upon the death of the insured, in exchange for a preminsurance is a contract between a person or policyholder and an insurer or Insurance Company, where the insurer promises to pay a designated beneficiary a specified sum of money, upon the death of the insured, in exchange for a premInsurance Company, where the insurer promises to pay a designated beneficiary a specified sum of money, upon the death of the insured, in exchange for a premium paid.

Now the idea is to over-fund your policy right before the point, but not to the point, where the life insurance policy becomes a modified endowment contract.

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 theInsurance: 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 theinsurance 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.

With limited pay policies, particularly those that are funded using paid up additions, it is important to keep an eye on the MEC level where your policy changes from life insurance to a modified endowment contract.

A GUL, or guaranteed no - lapse universal life policy, is universal life coverage where the insurance company guarantees that your policy will never lapse as long as you continue paying the no - lapse target premium specified in the policy contract.

A modified endowment contract is a cash value life insurance contract in the United States where the premiums paid have exceeded the amount allowed to keep the full tax treatment of a cash value life insurance policy.

Life Insurance: It's a contract between the policy holder and insurance company, where the company promises to pay a stated death benefit in the event of death of a poliInsurance: It's a contract between the policy holder and insurance company, where the company promises to pay a stated death benefit in the event of death of a poliinsurance company, where the company promises to pay a stated death benefit in the event of death of a policyholder.

Life Insurance is a formal contract between an individual and an insurance company where the individual pays regular payments, while the insurance company promises to pay a pre-determined amount to the person's dependents in case he is no longInsurance is a formal contract between an individual and an insurance company where the individual pays regular payments, while the insurance company promises to pay a pre-determined amount to the person's dependents in case he is no longinsurance company where the individual pays regular payments, while the insurance company promises to pay a pre-determined amount to the person's dependents in case he is no longinsurance company promises to pay a pre-determined amount to the person's dependents in case he is no longer there.

Life insurance is a financial tool where you enter into a contract with an insurance company.

Irda recently issued letters to all life insurance companies, seeking details on three types of traditional plans: those where death benefit is defined as a return of premium (with or without interest), products in which the initial death benefit is significantly high and reduces subsequently during the currency of the contract, and products in which insurance cover is insufficient / insignificant in relation to the premium, i.e. products mostly of the savings type.

Life insurance refers to a contract between the insured and the insurer, where the latter agrees to pay a beneficiary a specific amount of money upon the death of the insured.

To put it in its most basic explanation, life insurance is a contract where you agree to pay a monthly premium and the insurance company agree's to pay your beneficiary an amount of money agreed upon in the contract when the covered person passes.

Typically, a SPIA is a contract with an insurance company where you pay the company a sum of money up front (the premium), and the company promises to pay you a certain amount of money periodically for the rest of your life.