Sentences with phrase «life of the policy holder»

Whole life insurance (cash value life insurance) offers a permanent accruing death benefit as well as accruing cash value within the policy over the life of the policy holder based upon mortality tables.

Guaranteed universal life insurance is similar to whole life insurance because it is also considered a permanent policy, meaning it is supposed to last the entire life of the policy holder.

Later, Ohio State Life was the first to advance death benefit payments to sustain the life of the policy holder (which is referred to as living benefits).

In a unit linked insurance plan there are two parts in the premium a client pays, the first part of the premium goes into covering the life of the policy holder and the second part goes into investments.

The new plan would be offered on the life of the policy holder and would be subject to terms and conditions of new contract.

The premium can be paid for a policy that insures the life of the policy holder himself, for the wife or husband irrespective of whether this person is a dependent or not and for the child of the policy holder.

Whole life insurance (cash value life insurance) offers a permanent accruing death benefit as well as accruing cash value within the policy over the life of the policy holder based upon mortality tables.

The permanent life insurance insures the entire life of the policy holder, which means it won't expire till you're paying the premiums.

Not exact matches

Equitable Life collapsed in 2000, leaving thousands of policy holders without the compensation they had been promised.

Term life insurance is often considered the most popular form of insurance for people who want to put a prepared financial plan into place to shelter their family members in case something unexpected happens to the policy holder.

Life insurance pays money to beneficiaries after the death of a policy holder.

Life insurance provides financial security to the family in case of sudden demise of the policy holder.

Within the arena of whole life insurance, policies mostly differ in terms of the «bells and whistles» attached and what the company chooses to offer policy holders.

Variable life gives the policy holder the choice of investing in stocks, bonds and money market funds.

This is allowed due the payment of whole life dividends which are basically defined as a «return of premiums» to the policy holders rather than regular income.

If you're not familiar a term life insurance policy is a contract that pays a specific amount of money upon the policy - holder's death.

Life insurance is a policy that offers a benefit to the designated beneficiaries upon the death of the policy holder.

Term life insurance offers a fixed payout to the policy holder's beneficiaries in the event of his or her death.

As with life insurance policies, the 1035 Exchange allows the exchange of annuities so policy holders can find better rates for their investments or to accommodate changes in their financial situation.

The VUL gives the policy holder the option to invest in securities which are not available to any other type of life insurance.

To be sure, the tax advantages combined with the availability of life insurance policy loans to fund various needs and ventures presents an attractive option for policy holders.

Another cost aspect of participating whole life is that these policies are fixed premium plans, so they should be deemed within the policy holder's budget.

However, rather than having premiums that are paid for the rest of the policy holder's life, the policyholder instead chooses to pay for only a set period of time such as for 10 years, 15 years, or until he or she reaches age 65.

However, more than 75 lakhs policy holders of Max Life are now going to be taken over by an insurance company with lower CSR.

This created a massive population of universal life insurance policy holders that are now stuck with under performing policies and faced with a decision on how to not go without coverage.

Permanent life insurance is life insurance that covers the remaining lifetime of the policy holder.

3. - suppose policy life is 2 years and 9 month when policy holders dies... if nominee files for claim after 3 months... i.e. after 3 years of policy starting date.

An issue has been raised that these GICs would be subordinate to other policy holder claims in the event that Executive Life ever is placed in conservatorship, (i.e., an insurance equivalent of Chapter 11).

As a participant, the policy holder in a mutual life insurance company receives «dividends» on the cash value which is not income but rather a return of premiums.

Permanent life insurance policy changes: Dividends are paid to holders of participating whole life insurance policies.

The basic idea behind this infinite banking concept ® is that a policy holder can design a whole life policy to accrue cash value more quickly for the purpose of setting up a unique vehicle for personal family financing.

It has been argued over the years by insurance firms that mortality fees should not be taken into account as such charges are meant for provision of life coverage to the holder of the policy.

Sagicor is a great example of life insurance company evolving their plans to offer living benefits to their policy holders.

So, the policy holder obtains the benefits of life insurance, such as a death benefit, while also maintaining investments in the financial markets.

Term life gives a policy holder coverage for a specified length of time, generally in five - year increments ranging from 10 to 30 years.

Their whole life burial insurance plan has a level and graded option to meet the needs of their policy holders.

Term or Lifetime: You can buy income for a specific period of time or income that will last as long as the policy holder (s) live.

Other types of life insurance policies have been designed to meeting the varied needs of policy holders.

A recent survey by LIMRA found that holders of life insurance policies intended use their payouts as follows:

Life Insurance benefit: This is the sum assured that is paid on the unfortunate death of the policy holder.

In many of these cases, a term life insurance policy is often the most inexpensive choice and the full face value of the policy pays out on the policy holder's death.

If the policy holder dies during the life of the contract, the beneficiary will receive the face amount of the policy.

Typically, a universal life insurance policy holder may adjust — within certain limits — the death benefit amount, as well as the timing and the amount of their premium.

Universal life insurance, on the other hand, is a type of insurance that is more fluid since it combines term insurance with an investment in the money market as preferred by the policy holder or advised by the insurance company.

Guaranteed universal life insurance is an attractive option for many that bridges that gap of financial insecurity, allowing policy holders to lock in a guaranteed death benefit and premium payments while providing flexibility and stability for households.

Because of its long lasting nature, a whole life insurance policy holder will never find himself or herself without a life insurance plan — regardless of how long they need the coverage or any adverse health conditions that they may acquire over time.

For life insurance annuities, payments are likely deferred to death of the policy holder.

Because it offers flexibility and a cash value option, guaranteed universal life insurance offers policy holders many possible ways to put the cash value and death benefit to work for them, some of which include:

Yet, over time, while an insured who owns term life coverage may need to renew at a higher premium rate, a whole life insurance policy holder will retain the same premium expense throughout the entire life of the policy.

Whether an applicant decides to go with whole life or guaranteed universal life, a couple of options worth exploring with an agent include possibly setting up a lifetime of guaranteed monthly income for beneficiaries or including a rider that gives a policy holder the ability to waive premiums if they become disabled and can't work.