Sentences with phrase «money upon the death of the insured»

All life insurance policies work on the same basic premise; make payments, called premiums, to the insurance company, which guarantees to pay chosen beneficiaries a sum of money upon the death of the insured.

It defines life insurance «as a contract between and insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person.»

Life insurance is insurance that pays out a sum of money upon the death of the insured person.

Life insurance refers to a contract between the insured and the insurer, where the latter agrees to pay a beneficiary a specific amount of money upon the death of the insured.

Not exact matches

At its most basic, life insurance provides a sum of money, called a death benefit, to the beneficiary of a life insurance policy upon the death of the insured.

Benefit: For life insurance, it is the amount of money specified in a life insurance contract to be paid to the beneficiary upon the death of the insured.

The definition of life insurance death benefit is the amount of money payable to the beneficiary or beneficiaries listed on a life insurance policy upon the death of the insured, minus any policy loans.

This is the amount of money, sadly, paid out upon the insured's death.

Life insurance is a contract where, in exchange for premium payments, a lump sum of money is paid upon the death of the insured person.

Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder).

The policies offer life insurance coverage that pays money to a designated survivor upon the death of the insured person.

This means that, upon death of the insured individual, the policy only pays out if payments have been kept current; if payments stop before the individual dies, the policy is no longer in force and will not pay out any money.

Life insurance pays a set amount of money to the insured's beneficiary, or beneficiaries, upon death.

Life insurance is a contract between an insured (insurance policy holder) and an insurer, where the insurer promises to pay a designated beneficiary a sum of money (the «benefits») upon the death of the insured person.

Allianz Life's 2018 Life Insurance Needs Survey finds Consumers Interested but Undereducated about Living and Tax Benefits MINNEAPOLIS — March 20, 2018 — Although most Americans have a strong understanding of the primary need for life insurance within their financial strategy — particularly the death benefit that provides monies to family / loved ones upon death of the insured — many are unaware of the additional living and tax benefits that may be available through permanent life insurance.

Life insurance is a contract between a person or policyholder and an insurer or Insurance Company, where the insurer promises to pay a designated beneficiary a specified sum of money, upon the death of the insured, in exchange for a premium paid.

Term insurance is a type of policy that pays a predetermined amount of money upon the death of the person insured.

Death Benefit — The amount of money paid out to the beneficiary upon the death of the insured peDeath Benefit — The amount of money paid out to the beneficiary upon the death of the insured pedeath of the insured person.

Upon maturity or death of the policy holder, insurance company provides a lump sum amount of money to the life insured or his dependents.

Under this contract, the insurer promises to pay a pre-decided sum of money (also known as «Sum Assured» or «Cover Amount») upon the death of the insured person or after a certain period.

An agreement that guarantees the payment of a specified amount of money usually upon the death of the insured.