Sentences with phrase «life of the insured»

Unlike term life insurance, which must be renewed from time to time, permanent life insurance lasts for the entire life of the insured person.
Permanent life insurance lasts for the entire life of the insured as long as the premium is paid.
Whole life insurance policies offer life insurance coverage for the whole life of the insured person.
Permanent life insurance lasts for the entire life of the insured as long as the premium is paid.
This plan has a stage loss of life advantage as well which is compensated upon the loss of life of the insured.
The expected remaining life of the insured is the factor with the greatest variability and therefore represents the greatest risk to the investor.
It was named «Whole Life» because it would last the whole and full life of the insured.
This does not have a cash surrender value, and will not necessarily last for the whole life of the insured person (unless they die within the coverage period).
Whole life insurance provides protection for the entire life of the insured and provides a set level of security for your loved ones.
Whole life insurance policies offer life insurance coverage for the whole life of the insured person.
An insurable interest means the beneficiary has a financial interest in the continued life of the insured and that the beneficiary would sustain a financial loss if the insured die prematurely.
This type of coverage offers a stated amount of protection for the entire life of the insured individual — provided that the policy's premiums are paid that the policy is not lapsed or cancelled.
Whole Life Insurance Plans: These plans cater to the need for life protection throughout the whole life of the insured hence called whole life plans.
An insurable interest means the beneficiary has a financial interest in the continued life of the insured and that the beneficiary would sustain a financial loss if the insured die prematurely.
Yes Mr. Ravi Pandey, if not surrendered and all premiums paid duly, this policy cover whole life of insured person, even after maturity of policy.
Permanent Life Insurance, such as whole life, universal life or variable life, is designed to provide insurance protection for the entire life of the insured person.
When a premium is paid, a portion pays for annual renewable term insurance based on the life of the insured.
Rather, it refers to a broad category of life insurance that offers ongoing benefits for the life of the insured.
A SPIA, or single premium immediate annuity, is designed to generate instant income during retirement by taking a lump sum of money and converting it into systematic payments that continue for a specified period of time or for the life of the insured individual.
It is a contract between an owner and an insurance company on the life of an insured.
-- Mortality Charge is the amount charged every year by the insurer to provide the life cover to the policyholder on the life of the Insured.
Permanent life insurance, as the name suggests, is expected to last for the life of the insured.
Insurance Premiums: life insurance premiums are the payment due to keep the policy active and in force on the life of the insured.
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.
A type of policy that does not expire during the life of the insured and combines a death benefit with a savings portion that can build cash value.
An irrevocable life insurance trust (ILIT) is a trust established to own a life insurance policy on the life of the insured.
The owner of the policy takes out the contract, called a policy, on the life of the insured for the benefit of a beneficiary.
And this will continue indefinitely until the end of the term or for the life of the insured, depending on the type and length of coverage.
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.
The cash value can be used for a variety of purposes during the life of the insured, but it is most frequently used as income during retirement.
Life insurance coverage for which the policyholder pays an annual premium, generally for the life of the insured.
These are forms of permanent life insurance based upon the life of the insured.
Universal life insurance provides protection for the entire life of the insured and builds cash value over time while offering flexible premiums and a flexible face amount.
Permanent life insurance lasts for the life of the insured.
Both types can be guaranteed to cover the entire life of the insured.
If the insured person is not the policyholder, the person who purchases the contract usually has to prove that they have a financial interest in the life of the insured when buying the policy.
The premiums are usually level for the life of the insured and the death benefit is guaranteed for the insured's lifetime.
Whole Life Whole life insurance provides guaranteed insurance protection for the entire life of the insured, otherwise known as permanent coverage.
Whole life insurance DEFINED: a contact (i.e. policy) between the owner (who is most often also the insured) and the insurance company that covers the life of the insured until death or surrender of the policy.
It provides coverage for the life of the insured person.
Unlike term insurance, there is no set time limit with a permanent policy — and, as long as the premium is paid, the coverage will last throughout the life of the insured.
Permanent life insurance — Life insurance, such as whole life, that remains in effect for the life of the insured.
Each of these categories has multiple variations, but before worrying about the finer details, decide whether you need the insurance for a limited time period or for the life of the insured.
SGLI covers the life of the insured with the face amount of the policy, just like life insurance.
Single life means that the term plan will only provide cover for the life of the insured party who is generally the breadwinner of the family.
Permanent life insurance: Generally, insurance that can stay in force for the life of the insured and accrues cash value, such as whole life or endowment.

Phrases with «life of the insured»

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