Sentences with phrase «life of the insured person»

It provides coverage for the life of the insured person.

Such policies may not be valid because the third party that actually initiated the policy has no insurable interest in the life of the insured person.

This coverage allows the policy owner to purchase additional amounts of insurance on the life of the insured person without evidence of insurability up to a maximum of 5 times.

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.

The owner of a life insurance policy must have an «insurable interest» in the life of the insured person.

Underwriting is the process of assessing risk in the life of the insured person and specifying the cost in terms of Premium for the Life Cover (Sum Assured).

In exchange for making premium payments over a period of (x) amount of years (x being the length of the term), the life insurance company provides financial protection on the life of an insured person and is legally bound to pay any valid claim upon death of the insured person.

Whole life policies actually give a positive rate of return to the owner during the life of the insured person.

Permanent policies are designed to provide coverage for the life of the insured person, not just a stated term.

Whole life insurance policies offer life insurance coverage for the whole life of the insured person.

Whole Life Plans: A whole life policy provides life insurance cover for the entire life of the insured person or up to a specified age (the age varies from company to company but is mostly above 85 years).

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.

Not exact matches

Conduent's differentiated offerings touch millions of lives every day, including two - thirds of all insured patients in the U.S. and nearly nine million people who travel through toll systems daily.

While rates vary depending on where you live, most people will find their insurance cost to be 1 to 2 percent of the value of the jewelry being insured.

They've impacted how insurance companies decide who to cover and how much to charge — some people can't get insured now if they're on flood plains or if they live in the path of a likely forest fire.

Life insurance is something that is becoming increasingly necessary to have yourself insured under because of the unstable economy and lives of people all around the world with the ever... Read More >>

The general function of life insurance is to create a sum of money payable at the death of the insured in order to replace the economic loss resulting from the person's death.

It is time for the preaching of a new evangelism — the evangelism of the voluntary liquidation of the competitive system in order that there may be a planned economy which shall insure to every person in the nation an adequate supply of the goods of life.

But when a billionaire astronomer discovers a planet capable of sustaining life orbiting Alpha Centauri, he plans to build a rocket to transport a small group of people to the planet in order to populate it and insure survival of the human race.

An insured person can use these financial payments to cover the cost of any living expenses she incurs while unable to work due to illness or injury.

FDIC Insured People living on a fixed income and businesses in search of secure investments for a certain percentage of working capital search for CD rates.

Life insurance proceeds, which were paid to you because of the insured person's death, are generally not taxable unless the policy was turned over to you for a price.

But if somehow you lie or fail to disclose a material risk factor (such as twenty or more people living in a fraternity house and you want to insure one of them with limits that are well out of the ordinary), what will happen?

Ultimately the business of insuring the lives of people is one that is based on solid fundamentals and can withstand the ups and downs of market corrections and economic depressions.

Simply put, second to die or survivorship life insurance differs from all the other types of life insurance because it insures the lives of two people AND only pays a death benefit upon the death of the last survivor.

Generally, if you receive the proceeds under a life insurance contract as a beneficiary due to the death of the insured person, the benefits are not includable in gross income and do not have to be reported; any interest you receive is taxable and you should report it just like any other interest received.

If the insured person is diagnosed with disease that limits his life expectancy to a year or less, in other words if he has a terminal illness, he can receive some of the life insurance benefit during his lifetime.

In case the insured person lives beyond the period of insurance then there will be no further benefits from the plan.

Beneficiary: the beneficiary is the person or entity that receives the life insurance benefit from the insurer upon the death of the insured.

Because key person insurance is simply life insurance that insures the company against the loss of a key business partner or key employee, the decision to purchase key person insurance necessitates some choices about the type of insurance that is most beneficial.

National Life VT is one of a handful of mutual insurance companies that offers a wide array of different products, sure to meet the need of most people looking to get insured.

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.

If the Insured Person told us that he / she was a smoker and it has been 12 months or more since he / she last smoked or used any substance or product containing tobacco, nicotine or marijuana, he / she can apply for non-smoker rates by completing a Business Credit Life Insurance Notification of Change Form.

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.

Spouses and relatives usually are rolled into the definition of the «named insured» in the policy document, because it's understood that you wouldn't buy a policy for just you, with the intention of leaving out people you are married or related to, and live with.

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.

The universal life insurance coverage extends to two people and pays the death benefit to the beneficiary upon the death of the second insured.

Second - To - Die Life Insurance: A type of life insurance policy that insures the lives of two people, typically a husband and wLife Insurance: A type of life insurance policy that insures the lives of two people, typically a husband and wlife insurance policy that insures the lives of two people, typically a husband and wife.

Not only does it insure against the main engine of your life (your income), but the chances of becoming disabled are much higher than most people think.

Many people are insured by dividend paying mutual insurance companies (these are life insurance companies where the policyholders are partial owners of the company — or perhaps I should say «mutual» owners).

The person who is nominated to receive the benefits of the policy, in the event of Life Insured's unfortunate death before maturity date is called the Nominee.

There are fees and charges for variable life insurance, including a cost of insurance based on characteristics of the insured person such as gender, health and age.

Insuring the difference in income means that if the higher income person dies, the lower earning person can maintain their standard of living while they rebuild their life,» says Bruce Sellery, contributing editor at MoneySense magazine.

Life insurance benefits are typically paid when the insured person dies and the beneficiary files a claim with the insurance company and provides a certified copy of the death certificate.

This works well for insured people if the term ends after most of their obligations — mortgage, student loans, children's education and so on — are no longer an issue and they don't need that extra level of protection that life insurance offers.

The insurer is of course the company that is providing the life insurance coverage and the insured is the person whose death causes the insurer to pay the death benefit to the designated beneficiaries.

A key person insurance policy designed to insure the company against the loss of a valuable employee is another situation where a business entity may be the designated beneficiary of the life insurance policy.

This type of policy insures the lives of two people, typically a married couple, and pays a death benefit after the death of the last - surviving covered person.

The amount of money paid or due to be paid when a person insured under a life insurance policy dies, after adjustments for any outstanding policy loans, dividends, paid - up additions or late premium payments (if applicable) are made.