In the future and upon the death of the second insured, the benefit will be paid out to the named beneficiaries
in life insurance contract.
This usually gives the policy owner the right to renew a term
life insurance contract for an additional period equal to the period for which the contract was originally written.
A type of
term life insurance contract that offers low rates for a fixed period of time, and which will continue to offer low rates if the policyholder passes periodic medical examinations.
With a
permanent life insurance contract, you have the flexibility to surrender the policy and supplement your retirement income with the funds that have accumulated in the policy's cash value account.
An individual who enters into a whole
life insurance contract with an insurance carrier agrees to a specified death benefit amount in exchange for a fixed level premium.
The same goes for future withdrawals
from life insurance contracts that are tax - free up to your basis, or total net investment, in the account.
At Life Ant we recommend that only clients who fully understand the product consider a universal
life insurance contract as a viable permanent life insurance option.
With the GI rider, they will be able to add coverage at the original health rating, usually for a lower price than they will pay for the equivalent
new life insurance contract.
And third is life settlements, which are
life insurance contracts held on someone over the age of 65 that no longer wants to own their life insurance plan.
A flexible
premium life insurance contract that permits policy owners to adjust their policy's premiums, timing of payments, and face amount from time to time.
Such plans are a long term
life insurance contract where the policyholder has to pay premium throughout the tenure of the policy or may opt for single pay or limited payment option.
Never wanting to miss out on gaining a potential client, insurance companies have
turned life insurance contracts into a long - term care / life insurance hybrid.
Generally speaking, fraud, misrepresentation and suicide within the first 2 years are the only policy exclusions with key
man life insurance contracts.
Nobody likes reading the fine print
in life insurance contracts, so your agent should be very clear when explaining any policy provisions or restrictions.
With a
permanent life insurance contract, you have the flexibility to surrender the policy and supplement your retirement income with the funds that have accumulated in the policy's cash value account.
The Advantage Plus allows you pay your premiums to age 100, or just for 20 years (at a higher premium) to own a participating
whole life insurance contract.
PNB MetLife India Insurance Co. Ltd. is only the name of the Insurance Company and the names of the products are only the names of the unit
linked life insurance contract and does not in any way indicate the quality of the contract, its future prospects or returns
8) Endowment Life Insurance — This is a form of
life insurance contract which is set up to pay out a lump sum after a defined term (maturity) or when death occurs.