Sentences with phrase «life policyholders outlive»

Even so, most term life policyholders outlive their contracts and forfeit any premiums that they paid to keep them in force.

Not exact matches

This policy allows policyholders to have their premiums returned to them if they outlive their coverage term, and also allows them to access cash value during the life of the policy.

Return of premium life insurance exists to mitigate the disappointment that many traditional term life policyholders feel when they realize that they've outlived their policies and spent thousands of dollars that can't be recovered.

A life insurance policy is not for you, the policyholder, it is for your loved ones who may outlive you.

This term insurance plan not only aims at making life financially more secure for the family of the policyholder but also provides the advantage of earning back the premiums if the policyholder outlives the policy term.

The product guarantees return of life cover charges on maturity of the policy as a reward to the policyholder, for outliving the maturity period and achieving life goals.

In truth, the name sums it up very well because, when this rider is included in a term life policy, it will see all of the premiums paid returned to the policyholder if they outlive the policy.

As is also the case with normal term life insurance policies, policyholders of return of premium life insurance policies often outlive their loan terms.

Here's the rub with standard term life insurance: If the policyholder outlives the 20 - year term, the contract expires and the insurance company keeps the premiums.

For example: If a 10 - year term life policy is purchased for $ 50 per month, and the insured outlives that time period, with this rider, the policyholder would have up to $ 6000 in premium returned.

A pre-specified amount is paid if the policyholder dies during the term of the plan, called the «Sum assured» A term insurance plan differs from a traditional Life Insurance Policy in the way that no Maturity Benefit is provided if the policyholder outlives the term of the policy.

With standard term life insurance, if the policyholder outlives a 20 - year term — or the life of that policy — the contract runs out and the insurance company simply keeps the premiums paid.

Either way you will always get some payout on death benefit, while under a term life insurance policy, the possibility always exists that the policyholder will outlive their policy, and lose all of the money the paid in.

There are some exceptions... for instance, «return of premium» term life insurance returns all money paid in if a policyholder outlives the coverage.