Sentences with phrase «of a life insurance contract upon»

The proceeds or benefit that is payable to the beneficiary of a life insurance contract upon the death of the insured.

Beneficiary — The beneficiary is the person (s) or entity (s) who receive the death benefit of a life insurance contract upon death of the insured.

Not exact matches

Upon receipt of the statement required under subsection (a)(2) or upon notice of a transfer of a life insurance contract to a foreign person, each issuer of a life insurance contract shall make a return (at such time and in such manner as the Secretary shall prescribe) setting fortUpon receipt of the statement required under subsection (a)(2) or upon notice of a transfer of a life insurance contract to a foreign person, each issuer of a life insurance contract shall make a return (at such time and in such manner as the Secretary shall prescribe) setting fortupon notice of a transfer of a life insurance contract to a foreign person, each issuer of a life insurance contract shall make a return (at such time and in such manner as the Secretary shall prescribe) setting forth --

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.

In contrast to term insurance, a whole life insurance policy pays the death benefit stipulated in the contract upon the death of the insured, regardless of when it may occur.

Life insurance is a contract between you and a life insurance company to guarantee your survivors a sum of money upon your death, provided that all of the premiums are paid and the policy is still in foLife insurance is a contract between you and a life insurance company to guarantee your survivors a sum of money upon your death, provided that all of the premiums are paid and the policy is still in folife insurance company to guarantee your survivors a sum of money upon your death, provided that all of the premiums are paid and the policy is still in force.

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.

This type of contract, usually sold by life insurance companies, pays a regular stream of income to the beneficiary or annuitant at some agreed - upon start date in the future.

And here's the bottom line: all life insurance policies promise to pay an agreed - upon sum of money should you die while your policy is in - force (that is, while you're paying your premiums on time and while you're still operating within the terms of your contract).

In a nutshell, Mr. Nash offered an alternative financial philosophy that was based upon personal discipline and strategically using the contractual stability of a dividend paying whole life insurance contract in a unique and powerful way.

Life insurance is based in contract law, and the proceeds pass by operation of law upon the insured's death.

However, you might not even need to go to a bookmaker: A contract that pays money upon the death of a specific person is known commercially as «life insurance.»

Pure Endowment A life insurance contract that provides payment only upon survival of the insured to a certain date and not in the event of that person's prior death.

A contract holder of a segregated fund, such as a pool of investments tied together in an life insurance policy, pays premiums to an insurance company so that the contract holder will receive an agreed upon sum in the case of loss.

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.

The death benefit of a life insurance policy is the amount of money that is paid out to your beneficiaries upon your death and is determined by the life insurance contract.

Life Insurance or assurance is a legal contract between the insurer or the insurance company, and policy owner / holder who is the person availing of the plan and whose family will receive money upon his / her death or any other event such as terminalInsurance or assurance is a legal contract between the insurer or the insurance company, and policy owner / holder who is the person availing of the plan and whose family will receive money upon his / her death or any other event such as terminalinsurance company, and policy owner / holder who is the person availing of the plan and whose family will receive money upon his / her death or any other event such as terminal disease.

Life insurance is a protection that is offered for the family of the policyholder — upon the death of the insured, the agreement requires that the insurance company stands by the stipulations of the contract and provides the benefits of the plan to the family of the deceased.

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 holdLife 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 holdlife 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).

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.»

You see, term life insurance is called «term» because the policy (i.e. the contract between the owner and the insurer on the life of the insured) ends upon the specified timetable in the contract.

Upon the death of the original contract owner, the life insurance carrier will pay the death benefit to the designated recipient in one of two ways: a lump sum, or a series of scheduled payments.

Unlike an owner of a life insurance policy, designated beneficiaries do not have to have an insured interest in an insured when identified in the contract or upon the death of the insured.

A policy is a life insurance contract between you, the policy owner and insured, and the insurer, where the insurer agrees to pay a death benefit to your beneficiary upon your payment of premiums.

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.

This guaranteed period or «term» that a death benefit will be paid (only upon death of the insured) is the reason this kind of insurance policy is called «term life insurance», Other permanent types of insurance contracts also exist such as whole life insurance and universal life insurance, which will never expire as long as all premium payments are made in a timely manner to the insurance company.

Second - to - die life insurance: A life insurance contract which covers two lives and provides for the payment of the proceeds upon the death of the second insured.

A life insurance policy is a contract between the owner of the policy and the insurance company which promises to pay a stated death benefit upon the death of the insured person, as long as the death occurs during the period of time covered by the policy.

The amount borrowed from a life insurance policy depends upon the terms of insurance contract and its cash value at the time of the loan request.

Survivorship life insurance: A life insurance contract which covers two lives and provides for the payment of the proceeds upon the death of the second insured.

Normally the death benefit is only paid upon receiving a valid death claim from the beneficiaries of a life insurance contract.

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 preminsurance 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 premInsurance 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.

Unlike most life insurance policies, the amount of death benefit will often depend upon the income taken from the contract.

Prices for life insurance contracts are based upon age, gender, length of coverage, and the risk classification of each person.

A life insurance policy which provides an insurance cover upon the death of the life insured within the Policy Term as per the terms and conditions of the contract.

DEFINITION of Life Insurance: Life insurance is a contract between the owner and the insurer, where the insurer agrees to pay a death benefit to the beneficiary upon the death of theInsurance: Life insurance is a contract between the owner and the insurer, where the insurer agrees to pay a death benefit to the beneficiary upon the death of theinsurance is a contract between the owner and the insurer, where the insurer agrees to pay a death benefit to the beneficiary upon the death of the insured.

A life insurance contract outlines how much money the insurance company will pay out to your loved ones upon your death, how much you will pay each month as a premium, and the period of time the insurance policy will cover you.

Thinking about life insurance as a contract, you agree to pay the insurance company to provide a certain amount of money to your beneficiaries upon your death.

Life insurance is a contract between an insurer and a policyholder in which the insurer guarantees payment of a death benefit to named beneficiaries upon the death of the insured.

To fulfill the IRC definition of life insurance, life insurance contracts must provide for a sufficient «amount at risk» — the pure death benefit protection that a beneficiary would receive upon the death of the insured.

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.

To put it in its most basic explanation, life insurance is a contract where you agree to pay a monthly premium and the insurance company agree's to pay your beneficiary an amount of money agreed upon in the contract when the covered person passes.

Get an affordable life insurance for older life insurance people pay money advantages to those individuals that are described in an contract of plan as recipients at plenty of duration of deciding upon up with a plan.