Sentences with phrase «n't receive the full death benefit»

This means if you die within the first year or two of the policy (for example), you won't receive the full death benefit.

In addition, if you pass away during the first 2 years of coverage due to a non-accident, your beneficiary won't receive the full death benefit.

Just keep in mind that these policies come with a waiting period, or graded benefit, meaning your beneficiaries won't receive the full death benefit if you die soon after purchasing.

In addition to the higher premiums, one of the main drawbacks to a guaranteed issue life insurance is that your beneficiaries wouldn't receive a full death benefit until your policy has been in force for a specific length of time (typically between one or two years, depending on the life insurance company).

Just keep in mind that these policies come with a waiting period, or graded benefit, meaning your beneficiaries won't receive the full death benefit if you die soon after purchasing.

You will automatically qualify for the policy, but it is the most expensive type available, there is usually a limit to the benefits placed on the policy, and your beneficiaries will not receive the full death benefits for a preselected period of time after it is put into effect.

This means that the beneficiary will not receive the full death benefit if you were to pass within the first two years.

Not exact matches

They also may feature graded death benefits, meaning you won't receive the full benefit amount if you die during an initial period of time (usually the first year or two of the policy).

Here, the named beneficiary will not receive the full amount of the death benefit if the insured dies within the first two or three years that the policy is in force.

Either way, if an unexpected death happens within the first 2 years, your beneficiaries will still receive a tax free benefit, it just won't be for the full amount.

For those who don't know (anyone reading this site is probably pretty knowledgeable on the subject), you can borrow from your policy without touching your credit, earn dividends if it's a participating policy, pay it off in full early, and even receive the full death benefit while still alive if you make it past age 100.

People who have a serious health problem may receive a policy with a «graded death benefit,» which means the coverage amount increases over time and your beneficiaries won't receive the full face value if you die within the first few years of the policy.

If you end up with a graded death benefit plan, this means you will not be receiving full payment within the first few years of the contract.

The mortgage protection insurance your family receives as a «death benefit» will not be taxed; they will receive the full amount stated in the insurance policy, tax - free.

If the insured person passes away before being insured for at least two years, your beneficiary will only receive a portion of the death benefits, not the full coverage amount.