Sentences with phrase «ones upon death of the insured»

Allianz Life's 2018 Life Insurance Needs Survey finds Consumers Interested but Undereducated about Living and Tax Benefits MINNEAPOLIS — March 20, 2018 — Although most Americans have a strong understanding of the primary need for life insurance within their financial strategy — particularly the death benefit that provides monies to family / loved ones upon death of the insured — many are unaware of the additional living and tax benefits that may be available through permanent life insurance.

Not exact matches

Upon death of the insured the death benefit is payable which can be taken in monthly instalments or in one lump sum

In addition to simply paying out a benefit upon an insured's death, life insurance policies can also be a primary component of one's overall financial, retirement, and estate planning strategies.

And, the beneficiary is the one who receives the death benefit upon the death of the insured.

Name of the Insured — The person on whom the policy is purchased and the one upon whose death the policy will issue payment.

Additionally, if one engages in the transaction, the insured may occasionally (usually about once a year) receive a call from a servicing company to inquire upon the health of the insured (to determine if the insured has died and whether the investor should be making a death benefit claim on the policy).

A term life policy has only one function: to pay a specific lump sum to the beneficiary that has been designated, upon a specific event: the death of the insured person.

These policies are designed to pay off ones mortgage balance upon the death of the insured.

The beneficiary of the insured has lost because there are no more life insurance proceeds to collect upon the death of this loved one.

Call your agent upon the death of the insured, if you still have one.