Sentences with phrase «pay a death benefit to the beneficiary upon»

The universal life insurance coverage extends to two people and pays the death benefit to the beneficiary upon the death of the second 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.

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 the insured.

Not exact matches

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.

The Legalese «The Acceleration of Death Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rDeath Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rdeath benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rdeath of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.»

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.

Whole life requires the policy owner to pay a fixed monthly premium for the rest of their life, and upon death, the company will payout the face value of the policy (death benefit) to the beneficiary.

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.

Cash value life insurance is more applicable to wealth building discussions because cash value is typically used during the policy owner's lifetime and is forfeited upon death in lieu of the death benefit being paid to surviving beneficiaries.

Please note that any outstanding loans will be subtracted from the death benefit paid to a beneficiary or beneficiaries upon your death.

Income Protection Option: Rather than the typical lump sum payout upon death, you can choose to pay your beneficiary the death benefit a monthly income stream.

Upon the death of the insured, the insurance company pays a death benefit to the beneficiary.

Whether you are the sole breadwinner, one half of a joint - income couple, or a stay - at - home - parent, a term life insurance death benefit (the funds that your beneficiaries will receive upon your passing) can do much more than add a temporary boost to family finances and pay for funeral and burial expenses.

You pay a premium for as long as you live, and a benefit will be paid to your beneficiaries upon your death.

Life insurance pays a lump sum of cash (called a «death benefit») to the beneficiary upon the policyholder's death.

With the cash refund payout option (also known as the death benefit), you are guaranteed that any principal (premium paid into the contract) not yet returned through income payments will be returned to your beneficiary upon your passing.

As with other types of life insurance, you pay regular premiums to your insurance company, in exchange for which the insurance company will pay a specific benefit to your beneficiaries upon your death.

Buying a term life insurance policy would provide your loved ones with a death benefit (paid to your named beneficiary upon your passing), which would help cover the costs that you normally covered.

A premium is paid monthly to keep the policy active, covered in full or in part by the employer, and upon the death of the employee a lump sum of money, the death benefit, is paid out to a designated group or person known as the beneficiary.

Premiums are level and the death benefit (the amount your beneficiaries receive upon your death) is guaranteed as long as you continue to pay the premiums.

Upon the death of the insured, the lump sum death benefit is paid income tax free to the policy beneficiary.

Upon the death of the survivor, the policy pays out a lump sum death benefit to the beneficiary.

Voluntary life insurance is an optional benefit offered by employers, where an employee pays a monthly premium in return for cash paid to beneficiaries upon death.

When you have a final expense insurance policy, a death benefit is paid out to a named beneficiary upon the death of the insured.

In exchange for paying premiums on a policy, the insurance company provides a lump - sum payment (far in excess of what you paid in), known as a death benefit, to beneficiaries upon the insured's death.

After the two years, the coverage becomes ordinary life coverage and the full death benefit would be paid to your beneficiaries upon your death.

However, it is important to note that any amount of the balance that is not repaid will be charged against the death benefit proceeds that are ultimately paid out to the beneficiary upon death.

(Upon the insured's death, the remainder of the death benefit will be paid out to the policy's named beneficiary).

Death Benefit: The dollar amount of coverage that is paid to the designated beneficiary (s) of a life insurance policy upon the insured's dDeath Benefit: The dollar amount of coverage that is paid to the designated beneficiary (s) of a life insurance policy upon the insured's deathdeath.

If you don't repay the loan plus interest, the amount will simply be deducted from the death benefit paid to your beneficiaries upon your death.

The insurance company pays a cash amount (called the coverage amount or death benefit) to the beneficiary (s) named in the policy upon the death of the insured person named in the policy.

Highlights of term insurance plans • Upon the death of the insured before the end of the Policy Term, the Death Sum Assured will be paid as the death benefit to the beneficdeath of the insured before the end of the Policy Term, the Death Sum Assured will be paid as the death benefit to the beneficDeath Sum Assured will be paid as the death benefit to the beneficdeath benefit to the beneficiary.

Death Benefit is the sum paid to the beneficiary upon the insured's death irrespective of the cause of dDeath Benefit is the sum paid to the beneficiary upon the insured's death irrespective of the cause of ddeath irrespective of the cause of deathdeath.

Life insurance is a type of insurance in which you pay a certain amount (premium payments) to a life insurance company and in exchange they agree to pay a lump - sum payment (the death benefit) to your beneficiaries upon your death.

A premium is paid monthly to keep the policy active, covered in full or in part by the employer, and upon the death of the employee a lump sum of money, the death benefit, is paid out to a designated group or person known as the beneficiary.

The Legalese «The Acceleration of Death Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rDeath Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rdeath benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rdeath of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.»

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.

In fact, you are usually required to keep paying but the amount paid over the benefit amount will be paid to your beneficiary upon your death.

The death benefit is the amount paid to the beneficiary of the insurance policy upon the death of the insured person.

If any loans amounts are outstanding — i.e., not yet paid back — upon the insured's death, the insurer subtracts those amounts from the policy's face value / death benefit and pays the remainder to the policy's beneficiary.

The death benefit is the face amount or coverage amount of the policy that will be paid to the named beneficiary upon death of the insured (less any outstanding policy loans and interest).

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 holder).

By purchasing life insurance, you gain the assurance that your insurer will pay a death benefit to your named beneficiaries upon your death (as long as your policy is still in force at that time).

Whole life policies offer a choice of having a level benefit (where the policy pays out the face amount and any rider benefits to a named beneficiary upon the insured's death), or a graded benefit (where the policy will pay out a reduced amount of benefit if the insured's death occurs for reasons other than an accident within the first two policy years).

Life insurance, or rather, standard life insurance, consists of a policy that is either permanent life insurance or term life insurance, with a death benefit paid to the beneficiaries upon the insurance holder's death.

The most common type of guarantee is a death benefit guarantee which guarantees that upon your death the greater of the current contract value or the full amount of your contributions (minus any withdrawals) will be paid out to your beneficiary.

The policy will pay out the set death benefit tax free to your beneficiaries upon your passing (unless you have their Modified plan) which gives them the money to pay for your final expenses.

You agree to pay the insurance company «premiums» on a regular basis (usually monthly) and in return, the insurance company agrees to pay the death benefit to the beneficiary of your insurance policy upon your death.

Death benefit riders and enhanced death benefit riders will pay out a lump sum to the annuitant's beneficiaries upon their dDeath benefit riders and enhanced death benefit riders will pay out a lump sum to the annuitant's beneficiaries upon their ddeath benefit riders will pay out a lump sum to the annuitant's beneficiaries upon their deathdeath.