If you haven't been keeping up with your insurance premiums, your insurer will not pay
out the death benefit to your beneficiaries when you die, rendering the whole thing useless.
Term life insurance policies are temporary and only pay
out a death benefit to the beneficiary if the policyholder dies within the term of the policy.
With a life insurance policy, if the insured person dies, the life insurance company will pay
out a death benefit to the beneficiaries.
Cash value life insurance refers to a type of life insurance that, in addition to paying
out a death benefit to your beneficiary or beneficiaries upon your death, accumulates cash value inside the policy while you are alive, that you can use for whatever you please.
It is so basic it should probably be called «death insurance» rather than life insurance, since your primary benefit is that it will pay
out a death benefit to your beneficiary.
However, the primary purpose of these policies is still to pay
out a death benefit to your beneficiaries when you pass away, and this benefit makes up a significant portion of the cost of buying a policy.
Aside from certain exceptions, if you die while your policy is in force, your insurer will pay
out a death benefit to your beneficiaries.
The policy will still pay
out a death benefit to your beneficiaries when you die, but over time this death benefit is gradually replaced by the cash value.
This means that if you pass away during the graded (or waiting) period, the insurance carrier will not pay
out any death benefit to your beneficiary.
The policy will still pay
out a death benefit to your beneficiaries when you die, but over time this death benefit is gradually replaced by the cash value.
If you die while your policy is in force, the insurer will pay
out a death benefit to the beneficiary of your choice.
Term life insurance policies are temporary and only pay
out a death benefit to the beneficiary if the policyholder dies within the term of the policy.
There is no set rule on how you divvy
out your death benefit to your beneficiaries, although certain restrictions may apply from one life insurance company to the next.
This means that the insurer has a restriction where they will not pay
out death benefits to a beneficiary if you were to die in the first 2 years when the policy comes into effect.
Term life insurance provides coverage for a specific period of time and pays
out a death benefit to the beneficiary if the policyholder dies within the term of the policy.
Aside from certain exceptions, if you die while your policy is in force, your insurer will pay
out a death benefit to your beneficiaries.
Whole life insurance pays
out a death benefit to the beneficiary when you die and accumulates cash value over time.
If you die during the specified period, the insurance company pays
out the death benefit to your beneficiaries.
In its most basic sense, life insurance consists of a policy holder paying a premium to an insurance company and in return, the insurance company paying
out a death benefit to the beneficiaries of the insured if and when the insured passes away — provided that the policy is in force at the time of the individual's death.
Since you are buying life insurance that may one day pay
out a death benefit to your beneficiary it is important to choose a company with a strong rating.
Basic life insurance pays
out a death benefit to beneficiaries in the event of the policyholder's death.
First, they could pay
out the death benefit to the beneficiary MINUS the amount the insured avoided by lying or making the mistake on the application form.
They pay
out a death benefit to your beneficiaries in the event that you pass away while the plan is in effect and they feature an investment component inside of the policy.
And, if the insured person dies while insured by the policy, the insurance company pays
out a death benefit to the beneficiary chosen by the insured.
Instead of purchasing a standard life insurance policy that pays
out a death benefit to your beneficiaries upon your death, you can invest in an ILIT.
These give the policy flexibility in the later year if you want to stop making premium payments, but keep the policy in force so it will still pay
out the death benefit to your beneficiaries.
If you die during that 10 year term, then your life insurance company will pay
out your death benefit to your beneficiaries as instructed in the policy.
All life insurance policies pay
out a death benefit to your beneficiaries, but not all of them work as an investment product at the same time.
The policy goes into effect the day you buy it and it lasts until the day you die, at which point it pays
out your death benefit to your beneficiaries per the policy.
However, the primary purpose of these policies is still to pay
out a death benefit to your beneficiaries when you pass away, and this benefit makes up a significant portion of the cost of buying a policy.
It's simple — You pay the insurance company a monthly or annual premium for a set amount of life insurance for a specific period of time, and the insurer agrees to pay
out a death benefit to your beneficiary (you choose) upon your passing.
They are so sure they are going to have to pay
out a death benefit to my beneficiary that they just aren't going to put their company at risk.
Not exact matches
If you were
to die before paying back your policy loan, the loan balance plus interest accrued is taken
out of the
death benefit given
to your
beneficiaries.
If you die, but not because of an accident (e.g. cancer), within the first two years, the
death benefit will not be paid
out, however, all your paid premiums plus a little interest will be paid
to your
beneficiaries.
If you do designate your child as your
beneficiary, when the insurer pays
out, the
death benefit will go
to a trust overseen by a court - appointed guardian, who will hold onto the money until the child reaches the «age of majority.»
If your
beneficiary tries
to claim the
death benefit and the insurer finds
out you died from a previously undisclosed alligator - wrestling avocation, the insurer could recalculate your premiums
to the amount it believes you should have been paying and subtract that amount from the payout.
Universal life insurance pays
out a tax - free lump sum
to your
beneficiaries when you die, called a «
death benefit.»
With most term life insurance policies, the
death benefit — the portion of money that's paid
out to beneficiaries — works the same way.
The main difference between term life and permanent insurance is that term insurance only pays
death benefits to your
beneficiaries, while permanent life insurance pays
out death benefits and accumulates cash value which will continue
to build up over the life of the policy.
You choose a
death benefit and pay a premium for a certain «term» and if you die during the «term» the insurer pays
out the
death benefit to your named
beneficiary.
Death benefits are paid
out to beneficiaries tax - free.
Whole life insurance will pay
out a set amount of money
to your
beneficiaries when you die, called a «
death benefit.»
To get the
death benefit out of your estate and avoid this problem, consider having your spouse, significant other, or an irrevocable trust own the policy and also be the
beneficiary.
And upon the
death of the second spouse, the remaining
death benefit is paid
out to the
beneficiaries.
The insurance company pays
out a lump sum
death benefit to the
beneficiary of the policy upon the
death of the insured.
If you die, the policy pays
out a lump sum
death benefit to your
beneficiary.
When
death occurs, the
death benefit will be paid
out to the
beneficiary, generally in a lump sum payment.
If you have an outstanding loan on your whole life insurance policy when you die, the
death benefit that is paid
out to your
beneficiary (or
beneficiaries) will be reduced by the unpaid amount of..
An accident
death benefit rider pays
out an additional
death benefit to the
beneficiary (that's above the current
benefit limit of the policy) if you should die as a result of an accident.
If the policyowner dies while the policy remains in effect, the
death benefit is paid
out to the listed
beneficiary or
beneficiaries, while the cash value becomes the property of the insurance company.