Sentences with phrase «pay the death benefit to your beneficiaries before»

Insurance carriers rate your risk of dying prematurely, thus resulting in the insurer having to pay the death benefit to your beneficiaries before you make a significant amount of premium payments.

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.

In case of death before retirement, your policy will pay a benefit to the beneficiary — in most cases, the spouse or children.

If you die before you pay the loan back, the balance is subtracted from the death benefits that go to your beneficiary.

Graded / modified benefit policies usually have a waiting period of 24 to 36 months before the entire death benefit can be paid to a beneficiary.

That means they will be paid before the rest of the death benefit is released to the beneficiaries (in this case, your children).

However, if you happen to pass away before its expiry, a death benefit is paid out to the beneficiaries.

If you pass away before payment plan is complete, we pay the death benefit to your beneficiary (subject to terms and conditions of the policy)

Benefits paid to the beneficiary of the policy usually has a two year waiting period before the entire death benefit can be paid out.

Should the insured pass away before monthly payout period ends, remaining death benefit is paid to the designated beneficiary as authorized by the owner

This kind of policy pays a death benefit to your beneficiaries if you pass away before the term expires.

Once you're in retirement you can take income from your balance, and if you should pass away unexpectedly before annuitization occurs, a death benefit will be paid to your beneficiary.

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.

In the event the insured were to die before the loan is paid (anytime during that 30 year time period), his or her beneficiary would be able to apply their death benefit proceeds to that mortgage.

When a beneficiary dies before you do, your policy's death benefit gets paid out to her estate, where it could be held up in court or disbursed among relatives you don't know or don't like.

Death Benefit - In case of the demise of the insured within the initial 5 years of the policy issued date (i.e. before the vesting date), a basic sum assured plus accrued guaranteed addition in paid to the policy beneficiary either in a lump - sum or as the annuity or as a combination of two.

If at 85 you bought a life insurance policy and died at 94, years removed from the first 2 years of policy activation, your beneficiaries will still have to wait a year probationary period before being paid death benefit.

If you were to die before then, the death benefit would be paid to your beneficiary.

Even if the policyholder dies within the window of policy coverage, your beneficiaries may still have to wait a probationary period of 1 to 3 years before death benefits are paid out.

If the insured dies before age 70, the death benefit is paid out to the beneficiary stated in the policy.

Modified Policy benefits usually have a two - year waiting period before the entire death benefit can be paid to a beneficiary.

Guaranteed Issue Policy benefits usually have a two - year waiting period before the entire death benefit can be paid to a beneficiary.

Benefits paid to the beneficiary usually have a two year waiting period before the entire death benefit can be paid.

Many of these policies also have a waiting period where you must survive for up to 2 or 3 years before the policy would pay the full death benefit to your beneficiary.

You can withdraw your cash value or take out a loan against it, but remember, if you die before you pay back the loan, the death benefit paid to your beneficiaries will be reduced.

If you were to pass before this date, called the graded death benefit limitation, the beneficiary would not receive the death benefit but would typically receive all premiums paid plus a percentage added on top.

If you pay annually, but die before the end of that year, the carrier will add the amount of unused premium to your beneficiaries» death benefit payout.

If it's not paid back before you die, the death benefit paid to your beneficiaries will be reduced by any outstanding loan amounts.

The death benefit is paid to the stated beneficiaries of the contract, which are determined by the owner before the insured person is deceased.

Insurance money is awarded to the insured child once the policy matures, or a death benefit is paid to the beneficiary if the child dies before the maturity of the policy.

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.

In general, Term Life insurance offers you the most in death benefit value for your monthly premium — but, remember that Term Life insurance has no cash value, and pays out to your beneficiaries only if you pass away before the end of the term.

As such, they'll be paid back before the remainder of the death benefit is sent to the beneficiaries (your spouse, in this instance).

If you pass away before the term ends, the policy pays a death benefit to your beneficiaries.

If the loan is not paid back before the insured person's death, the loan amount plus any interest owed is subtracted from the amount the beneficiaries are set to receive from the death benefit.

However, if you don't take out the cash value before death, the amount and its dividends remain with the insurance company; and in that case, just the death benefit is paid out to the beneficiary.

Also, there is oftentimes a waiting period before the death benefit is paid out to the policy beneficiary.

While some no medical exam life insurance policies will pay out the full amount of the death benefit to the beneficiary right away, others will require that the policy be in force for a certain amount of time — such as two or three years — before the full amount is eligible to be paid out.