Sentences with phrase «life insurance in force upon»

Not exact matches

Life insurance is a contract between you and a life insurance company to guarantee your survivors a sum of money upon your death, provided that all of the premiums are paid and the policy is still in foLife insurance is a contract between you and a life insurance company to guarantee your survivors a sum of money upon your death, provided that all of the premiums are paid and the policy is still in folife insurance company to guarantee your survivors a sum of money upon your death, provided that all of the premiums are paid and the policy is still in force.

And here's the bottom line: all life insurance policies promise to pay an agreed - upon sum of money should you die while your policy is in - force (that is, while you're paying your premiums on time and while you're still operating within the terms of your contract).

Depending upon your objectives and your need for life insurance coverage you may or may not need to have a life insurance policy in force on the day you pass away.

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).

It used to be that most life insurance policies were left in force in order that the intended beneficiaries could receive the face value of the insurance policy upon the death of the insured.

According to the American Council of Life Insurers the majority of individual life insurance policies in force include a rider that waives the premium upon total disabilLife Insurers the majority of individual life insurance policies in force include a rider that waives the premium upon total disabillife insurance policies in force include a rider that waives the premium upon total disability.

Most whole life insurance policies specify a «surrender value», which varies depending upon how long the policy has been in force and premiums paid.