Sentences with phrase «life of the insured individual»

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.

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.

Not exact matches

An accelerated death benefit rider allows the policyowner to receive a portion of the death benefit early when the insured individual is diagnosed with a terminal illness resulting in a decreased life expectancy.

These policies and procedures are not designed to augment common belief and ways of living but to insure that individuals have maximum opportunity to make their own choices about these matters.

Additionally, there may be less stringent life insurance underwriting criteria for such policies, especially in cases where one of the insured individuals is in good health, compensating for the other insured whose health may be anything but good.

When you submit your life insurance claim, you must provide a copy of the insured individual's death certificate.

If another person also becomes insured for Critical Illness and Life Insurance on the same mortgage, a 25 % discount will be applied to each of the individual premiums.

This option not only allows two individuals to be insured on the same whole life insurance policy, but it also typically has a lower amount of overall premium cost than will purchasing two separate life insurance policies of corresponding value.

If another person also becomes insured for Life and Disability Insurance on the same loan, a 15 % discount will be applied to each of the individual premiums.

If more than one person becomes insured for Critical Illness and Life Insurance on the same line of credit, a 15 % discount will be applied to each of the individual premiums.

While having the lowest out - of - pocket outlay of any type of individual life insurance policy, in order to reap a benefit from the policy, the insured must die while the policy is in force.

An accelerated death benefit rider allows the policyowner to receive a portion of the death benefit early when the insured individual is diagnosed with a terminal illness resulting in a decreased life expectancy.

If the insured individual dies within that specific period of time, the life insurance carrier pays a death benefit to the insured's beneficiaries.

10 % of the premium for an * endowment policy if all individuals whose lives are insured are members of the fund

The average death benefit associated with each life insured in the portfolio is US$ 1.8 m, but there is considerable variation in the size of individual death benefit amounts.

Because the risk of insuring these individuals is lower, term life offers a much higher death benefit payment at a much more affordable monthly premium.

The legislative committee will serve to unite resources within the veterinary community, animal interest groups, small business advocacy groups, etc., with the goals of providing support for legislative changes that foster animal well - being through Acupressure and Massage as well as insuring the right of qualified individuals to perform their professional services and earn a living.

(f) an individual who is living and ordinarily present in Ontario is deemed to be the named insured under the policy insuring an automobile at the time of an accident if, at the time of the accident,

On Thursday, April 26, CPCS had the pleasure of honoring exceptional members of our community — attorneys from the public and private counsel divisions, as well as a social worker, investigator and administrative professional — who work tirelessly to insure that CPCS meets our mission: to fight for equal justice and human dignity by supporting our clients in achieving their legal and life goals; to zealously advocate for the rights of individuals; and to promote just public policy to protect the rights of all.

(2) An individual who is not living and ordinarily present in Ontario shall be deemed for the purpose of this Regulation to be the named insured under the policy insuring an automobile at the time of an accident if, at the time of the accident,

(1) An individual who is living and ordinarily present in Ontario shall be deemed for the purpose of this Regulation to be the named insured under the policy insuring an automobile at the time of an accident if, at the time of the accident,

Life Insurance: Coverage placed on the life of an individual whereas an insurance company issues a policy and pays a stated death benefit in the event of the insured's deLife Insurance: Coverage placed on the life of an individual whereas an insurance company issues a policy and pays a stated death benefit in the event of the insured's delife of an individual whereas an insurance company issues a policy and pays a stated death benefit in the event of the insured's death.

This policy is called the Living Promise Whole Life Insurance plan, and it is designed to assist in paying for an insured's final expenses, as well as other costs that may be incurred near the end of the individual's life that could incur financial hardship for the insured's family and / or survivLife Insurance plan, and it is designed to assist in paying for an insured's final expenses, as well as other costs that may be incurred near the end of the individual's life that could incur financial hardship for the insured's family and / or survivlife that could incur financial hardship for the insured's family and / or survivors.

Beneficiary The individual or entity designated to receive a life insurance or annuity death benefit upon the death of the insured or the annuitant.

Because the insurance company does not know the level of risk they are taking on for each individual they insure with this type of policy, premiums tend to be higher per dollar of coverage than those of traditional types of life insurance.

If the group of proposed insureds is acceptable, the insurance company dispenses with individual underwriting (for example, a whole life policy may offer a guaranteed amount of $ 10,000 for eligible applicants under age 35.)

Because this coverage is whole life, once an individual has been approved, the amount of coverage can not go down, and the premium can not be raised — even as the insured advances in age, or if they contract an adverse health condition.

Term life insurance is a type of life insurance policy in which the insured individual is provided with coverage for a specified period of time.

Once an individual has been approved for a burial insurance plan with Americo, the premium will remain level throughout the life of the policy — and, provided that the premium continues to be paid, the coverage can not be canceled due to the insured's age or health status.

Life insurance has fees and charges associated with it that include costs of insurance that vary with such characteristics of the insured as gender, health and age, and has additional charges for riders that customize a policy to fit individual needs.

Life insurance companies do not allow individuals to be insured for infinite amounts of money.

Insuring everything from auto, home, life and even your pets, Farmers represents more than 10 million individual households in America, with more than twice that of in force insurance policies.

Contingent Beneficiary An individual or entity that is entitled to receive the proceeds of a life insurance policy if the primary beneficiary is not living at the time of the insured's death.

The purpose of this step is to make sure the individual applying for life insurance (the insured) isn't over-insured.

A life insurance beneficiary is an individual who receives the policy's benefit proceeds upon the death of the insured.

Survivorship life insurance can be more affordable than two individual policies because rates are calculated based on the joint life expectancy of the insured individuals.

If another person also becomes insured for Life and Disability Insurance on the same loan, a 15 % discount will be applied to each of the individual premiums.

If more than one person becomes insured for Critical Illness and Life Insurance on the same line of credit, a 15 % discount will be applied to each of the individual premiums.

The Uniform Simultaneous Death Act — Enacted in 1940 this act allows a court to decide which individual outlived the other in the event that the insured and primary beneficiary died in the same accident and no proof exists of who lived longer.

If another person also becomes insured for Critical Illness and Life Insurance on the same mortgage, a 25 % discount will be applied to each of the individual premiums.

For most people — especially now that the individual estate tax threshold is so high — life insurance should be a temporary stopgap, to be used during that period of your life when you have family and financial obligations but haven't yet built up enough savings to self - insure.

Most of individuals in their 20s think that they don't need life insurance as it's too early to get insured and they don't have any dependents yet.

To obtain preliminary quotes for rate comparisons, shoppers might want to begin with a life insurance coverage number that is between five and 10 times the amount of the pre-tax annual income of the individual to be insured.

Because of this, term life insurance is also known as «pure life insurance»: Its only purpose is to insure individuals against the loss of life, and all premiums paid are used to cover the cost of insurance protection.

As indicated by this plan, the protected individual gets the aggregate amount and in addition the reward that comes as maturity benefit, however it ought to be recollected that the life cover picked is legitimate till the demise of the insured.

Life insurance has fees and charges associated with it that include costs of insurance that vary based on the insured person's sex, health and age, and has additional charges for riders that customize a policy to fit your individual needs.

An accelerated death benefit rider allows the policyowner to receive a portion of the death benefit early when the insured individual is diagnosed with a terminal illness resulting in a decreased life expectancy.

Also called «second - to - die» life insurance, this type of whole life policy insures two lives (typically spouses) and pays out upon the death of the second individual.

In legal terms, life insurance is a contract between a policy owner and insurer, wherein the latter agrees to reimburse the occurrence of the insured individual's death or other event such as terminal illness or critical illness.

Majority of applicants seeking life insurance coverage will be required to undergo a physical exam to determine how much of risk they are to insure, though there are companies out there that offer a no medical exam life insurance policy for those individuals with health issues.