Sentences with phrase «life insured occurring»

The term rider allows the payment of an additional amount should death of the life insured occur before 60 years.

Not exact matches

In contrast to term insurance, a whole life insurance policy pays the death benefit stipulated in the contract upon the death of the insured, regardless of when it may occur.

When the insured is age 70 — or at the end of the guaranteed period of level - premium — whichever occurs first, the insured is allowed to convert the level term life insurance policy over into a whole life insurance or a universal life insurance plan.

A Term Life policy offers coverage only if death occurs during a specific period of time, which coincides with the terms in which the insured member is required to make a monthly premium.

Car insurance will also not cover damage that occurred when a person who lives with you but is not insured under your policy drives your vehicle.

Life insurance (life assurance) is a certain contract between you (the insurance policy owner) and the insurer, according to which the policy owner is paid a reimbursement in case the insured event occurs (i.e. the policy owner's deaLife insurance (life assurance) is a certain contract between you (the insurance policy owner) and the insurer, according to which the policy owner is paid a reimbursement in case the insured event occurs (i.e. the policy owner's dealife assurance) is a certain contract between you (the insurance policy owner) and the insurer, according to which the policy owner is paid a reimbursement in case the insured event occurs (i.e. the policy owner's death).

A viatical settlement occurs when a person who is chronically or terminally ill sells his or her whole or universal life insurance policy to a third party that maintains the premium payments and receives the death benefit when the insured dies.

Also, these term policies are fully convertible to a permanent life insurance policy — up to the end of the level premium period (or the insured's age 70, whichever occurs first).

Since insurance rates generally depend on the likelihood of the insured event occurring, life insurance for young adults who are healthy will usually be considered a lower risk, and rewarded with a similarly lower rate.

And this does not occur once in a blue moon for Life Partners, but rather, in 95 % of cases the insured was still alive at the end of the projected life expectaLife Partners, but rather, in 95 % of cases the insured was still alive at the end of the projected life expectalife expectancy.

(iii) You further declare that you will notify in writing any change occurring in the occupation or general health of the life to be insured / proposer after the proposal has been submitted but before communication of the risk acceptance by the insurance company.

This benefit covers for loss of life, limb or sight that is a direct result of a covered accident that occurs during a trip while the insured is entering, onboard, or exiting from a licensed Common Carrier (such as an airplane, a bus, a train, a ship, or a taxi) licensed for the transportation of passengers for hire.

So, if a policyholder had purchased a Colony Term universal life 10 policy, and then they decided five years after purchasing it that they wanted to have coverage for the remainder of their lifetime, then the coverage extension feature would have allowed the insured to extend the death benefit protection guarantee to either age 90, age 100, or 105 — and, this could occur without the need for the insured to provide evidence of insurability.

The Insurer will pay for the Insured's covered accidental loss of life, hand, foot, or sight which occurred:

Whole life policies offer a choice of having a level benefit (where the policy pays out the face amount and any rider benefits to a named beneficiary upon the insured's death), or a graded benefit (where the policy will pay out a reduced amount of benefit if the insured's death occurs for reasons other than an accident within the first two policy years).

Some people choose to receive their life insurance payout all at once to help them pay for funeral costs, medical bills and other expenses that occur as a result of the insured person's death.

Due to the set time frame of term life insurance, the policy will only pay a death benefit to the beneficiary if the insured's death occurs while the policy is in - force.

In contrast, to say a 30 - year term life insurance policy, which pays a death benefit only if the insured dies during a specified period of 30 years, a whole life policy provides for the payment of a death benefit regardless of when the death occurs in someone's life.

A Term Life policy offers coverage only if death occurs during a specific period of time, which coincides with the terms in which the insured member is required to make a monthly premium.

So if you live in Lakeland and you are renting a property without being insured, it's time to get Lakeland renters insurance so that you can be adequately protected against your belongings being stolen or damaged and against you being held for any accidents that may occur in your rented property.

If death of the insured occurs during the policy term, the beneficiary collects the face amount (death benefit) of the life insurance policy income - tax free.

When the insured is age 70 — or at the end of the guaranteed period of level - premium — whichever occurs first, the insured is allowed to convert the level term life insurance policy over into a whole life insurance or a universal life insurance plan.

A life insurance policy is a contract between the owner of the policy and the insurance company which promises to pay a stated death benefit upon the death of the insured person, as long as the death occurs during the period of time covered by the policy.

Endowment policy: A life insurance policy in which the cash value and face value are equal to each other at the policy's maturity date; a policy under which the face amount is payable on a specified future date (maturity date) if the insured is then living, or at the insured's death, if that should occur sooner.

A life settlement occurs when an insured sells their life insurance policy to an individual or company for cash.

When this occurs the policy can pay out the death benefit, even if the insured is still living.

Usually the option to add death benefit coverage through the GI rider occurs at certain pre-determined ages (which may vary by company) throughout the insureds life, but may also occur during special life events such as marriage or the birth of a child.

In case, any of the covered critical illness occurs, depending upon the selected coverage options, the Life Insured is paid the Sum Assured on Critical Illness, subject to Policy being operational on the date on which the critical illness occurs of the life insured and the payment of all the due premiums have been mLife Insured is paid the Sum Assured on Critical Illness, subject to Policy being operational on the date on which the critical illness occurs of the life insured and the payment of all the due premiums have beeInsured is paid the Sum Assured on Critical Illness, subject to Policy being operational on the date on which the critical illness occurs of the life insured and the payment of all the due premiums have been mlife insured and the payment of all the due premiums have beeinsured and the payment of all the due premiums have been made.

Some people do choose to carry both types of policies at one time; a small whole life policy that will be sufficient, should the insured live a very long time, to pay off existing debt and provide for their spouse (if applicable) and a term life policy that could cover everything should an unexpected death occur or the insured die young.

This usually occurs when the insured party, initially, bought a term life plan but later on decided to upgrade.

Policy Term — If death of the insured does not occur during dates of coverage stated in the life insurance policy.

If death from suicide occurs after this period, then the life insurance policy will pay out as it would for death from illness or other insured causes.

Of course, homes in densely populated areas are typically more expensive to insure because they are more likely to get damaged and more expensive to repair when an incident occurs; however, no matter where you live in New York, homeowners insurance is not always a cut - and - dry number.

If death occurs after the commencement of risk, highest of Basic Sum Assured or life insured fund value would be paid.

If death occurs while flying as a passenger on a commercial airline, due to a crash, that passenger who has an active life insurance policy is considered insured, and his beneficiary will receive the face amount of the policy as a death benefit.

Although there is a suicide exclusion in life insurance policies if the insured dies from suicide occurring within the first two years of being insured (one year in some states), the insurance company does pay out death benefits if the insured dies from suicide after two years.

No benefit is payable in case of death of the life insured, but if death occurs within the waiting period, 100 % of the premiums paid is payable.