Sentences with phrase «no lapse rider»
No benefits will be paid under lapsed rider policy.
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Through the British Cycling and HSBC UK partnership, we want to help break down the barriers to cycling so that the fifty percent of UK adults who are «lapsed riders» re-visit the joy of being on two wheels and share those benefits with their friends and families.
Ofo isn't just dumping a bunch of bikes on the street, but is «providing Bikeability training in the city to encourage new and lapsed riders to try the scheme and ride more often.»
Most permanent life insurance policies are not guaranteed, unless the illustration and contract specifically include a no lapse rider.
The only way to maintain guaranteed level premiums and a level death benefits for life is to purchase whole life or a universal life policy with a guaranteed no lapse rider.
With a no lapse rider, the insurer contractually guarantees that the coverage will stay in force for a defined number of years.
While a universal life with no lapse rider can build up some cash value, it really isn't designed to build up significant cash value the same way a whole life policy is designed.
Guaranteed universal life insurance definition: a type of permanent life insurance that offers a guaranteed no lapse rider guaranteeing the policy remains in force even if the cash value drops to zero.
Top 10 Best Guaranteed Universal Life Insurance Companies Guaranteed universal life insurance definition: a type of permanent life insurance that offers a guaranteed no lapse rider guaranteeing the policy remains in force even if the cash value drops to zero.
Ninety - nine percent of the permanent insurance I sell is Universal life insurance with something called a no lapse rider.
As previously stated, some UL policies have no lapse riders that provide guaranteed coverage for a certain period of time, such as to age 100 or to age 120.
On Friday they released a bulletin to agents, axa - distributor, saying that they are discontinuing their no lapse rider (NLR).
No lapse riders mean the company has to carry high reserves.
If the guaranteed side shows coverage to age 100 with level premiums then the no lapse rider guarantees that.
Is there a certain amount of time you have to have the policy before the no lapse rider kicks in?
I also noticed you mentioned a UL with a no lapse rider.
If a lapsed rider is not revived within 2 years or before the expiry of rider term, whichever happens first, the rider stands terminated and no value is payable to the policyholder.