Sentences with phrase «of joint life insurance»

There are two types of joint life insurance, and your family's circumstances will dictate which one is a better fit.

Some versions of joint life insurance policies cover business partners as well.

Both versions of joint life insurance policies have benefits and drawbacks.

The reason so many couples end up in financial hardship is because they purchase the wrong kind of joint life insurance policy.

The issue of joint life insurance policy is in the wording or the pay out of the policy.

For a detailed look at both the pros and cons of joint life insurance policies, check out our guide.

There are two forms of joint life insurance, first to die and second to die.

Moreover, beneficiaries of a joint life insurance policies can receive a payout on the death of one of the partners or both.

However, in the case of a joint life insurance policy, this may turn problematic.

There are two types of joint life insurance, and your family's circumstances will dictate which one is a better fit.

Within the world of joint life insurance policies, you commonly have the following two options to choose from:

The biggest disadvantage of joint life insurance is that if you were to part ways with the other person on the policy you have to both be willing to get out of it.

To save Rs 1,417, you have to get into unnecessary restrictions of a joint life insurance plan.

Financial planners opine that covers for homemakers are not really necessary because the core objective of joint life insurance is to replace the life insured's income for his / her dependents» benefit.

If one partner passes away, the surviving spouse is not only entitled to receive the full assured sum on the primary policyholder's cover, but he / she also does not have to pay future premiums to keep his / her cover for this type of joint life insurance in force.

To illustrate, a couple — husband aged 36 and wife aged 35, choose from the many types of joint life insurance policies for INR 50 lakhs and INR 25 lakhs respectively.

Within the world of joint life insurance policies, you commonly have the following two options to choose from:

Variable Survivorship Life Insurance also is known as Survivorship life insurance is a type of joint life insurance policy that insures two people.

Survivorship life insurance is a type of joint life insurance.

There isn't enough of a market yet for this particular type of joint life insurance to drive premiums drastically lower, says Finneran.

Before you explore the key features and benefits of Joint Life Insurance, it is important to know the different types of joint life insurance.

In this type of joint life insurance, the couple receives an assured sum after the policy's expiration.

A key reason why couples could consider getting any type of joint life insurance is to avail of the premium waiver benefit, as it turns out to be cost - effective in the long run.

Joint Term Plan: In this type of joint life insurance, both individuals pay a single premium for a fixed period.

In this type of joint life insurance, if one of the partners passes away, the surviving partner can claim for the life cover amount, after which, the cover expires.

In some policies of this type of joint life insurance, in case of one partner's death, the beneficiary may opt to receive either a lump sum or monthly payments for up to 10 years.

Married couples may also cash in on this type of joint life insurance to provide the surviving spouse funds for living expenses.