Sentences with phrase «payment of the death claim»

The contract expires after payment of the death claim.

They credit the «inside buildup» toward the eventual payment of the death claim.

The inclination or likelihood of an insurance company towards the payment of death claim can be ascertained with the help of «CLAIM SETTLEMENT RATIO» of the insurance company.

Not exact matches

Your death benefit payment will be processed within ten (10) business days of our receiving all claim requirements.

Homeowners» Insurance: Required for all mortgage loans, protects the home from damage and theft Owner's Title Insurance: Optional policy ensuring the title will not be subject to a claim of ownership, lien or other encumbrance Private Mortgage Insurance (PMI): Required by most lenders when the down payment is less than 20 % Federal Housing Administration (FHA) Mortgage Insurance Premium: Required on all FHA loans Mortgage Life Insurance: Optional policy that protects family and estate by paying off the loan in case of death Disability Insurance: Optional policy that guarantees loan payments will be made in case of disability

Previously, the anti-detriment provision enables a super fund to claim a deduction in their tax return for a top - up payment made as part of a death benefit payment where the beneficiary is the dependant of the person.

you must report the death of the policy holder and / or covered family members to them directly to initiate a claim and receive payment

Another consideration is that if the deceased was married at the time of their death — to a step - parent, for example — that person may be entitled to an election under the Family Law Act to receive an equalization payment and make a potential claim against the estate.

Death benefit payments are dependent upon the claims - paying ability of New York Life Insurance and Annuity Company.

Regulations regarding South Carolina Life Insurance usually come into play when a claim is filed, and have to do with payment terms and other issues surrounding the disbursement of death benefits.

All guarantees, including death benefit payments, are dependent on the claims - paying ability of New York Life Insurance and Annuity Corporation (NYLIAC) and do not apply to the investment performance of the underlying funds in the variable annuity.

Upon her partner's death, Ms McLaughlin claimed Bereavement Payment and Widowed Parent's Allowance, but was refused both benefits by the DSD because she was neither married to nor a civil partner of Mr Adams at the date of his death.

The Court specifically considered whether the exclusivity provision of the Act barred an employee's parents wrongful death claim where the employee was injured at work but no workers» compensation payments were paid for the injury.

If you are looking to file a personal injury claim or receive payment for damages due to a wrongful death, our firm can be of assistance.

Further, the commenter stated that particularly in cases where the policyholder dies within two years of the policy's issuance (within the policy's contestable period) and the cause of death is uncertain, the insurer's inability to access relevant protected health information would significantly interfere with claim payments and increase administrative costs.

Comment: One commenter expressed concern as to whether the proposed rule's standard to protect the protected health information about a deceased individual for two years would interfere with the payment of death benefit claims.

All approved claims will receive a payment guaranteed to be 40 % of the death benefit amount accelerated (for example, 40 % of $ 50,000 = $ 20,000), less any amounts needed for debt repayments — regardless of the type of specified medical condition event, policy age, gender or severity of illness.

If payment for a claim of death is denied, the money you paid in premiums may be returned.

If the death claim is stuck due to some further investigation then the payment of interest will not be applicable for the same.

Your death benefit payment will be processed within ten (10) business days of our receiving all claim requirements.

Your death benefit payment will be processed the same day of our receiving all claim requirements and mailed within seven (7) calendar days for Annuity.

«There is no set time frame but insurance companies are motivated to pay as soon as possible, after receiving bona fide proof of death, to avoid steep interest charges for delaying payment of claims,» adds Ted Bernstein, CEO, Life Insurance Concepts, Inc., a life insurance consulting and auditing firm in Boca Raton, Fla..

This differs from the typical death benefit selection in that usually, the beneficiary who completes a death claim elects how he or she would like to receive the death benefit, whether as a lump sum, or annuity payments for X number of years.

The Social Security death benefit is relatively easy for surviving family members to claim and quick to be aid, but it is currently a small lump sum payment of $ 255 (assuming the deceased person had enough Social Security work credits).

It was designed to add flexibility to the payment of specified claims by advancing part of the death benefit if the insured: (a) has been confined to an eligible nursing home for at least 6 months and is expected to be permanently confined; (b) is terminally ill and has a life expectancy of six months or less; or (c) requires an organ transplant and would have only six months or less to live without the transplant procedure.

The insurance company that is liable for the payment of an accidental death benefit will conduct a thorough investigation into the cause of death before paying the claim.

The only other time such accumulation might be taxable is upon payment of the death benefit, and for the same reasons — the distribution exceeds cost basis (or interest paid on the death benefit from the actual date of death to the time of the death claim payment).

However, unlike other contracts wherein fulfilling certain obligations from both sides will generally be simultaneous, in life insurance contracts, the customer fulfils his obligations of payment of premium either immediately (single premium) or periodically (annually) with a hope and belief that the other party (insurer) will be fulfilling his part of the obligation in due course through multiple events like partial withdrawals, loans, survival or maturity benefits, surrenders or any live or death claim as per contractual obligations.

The increasing death benefit option on universal life insurance works by building cash value in addition to the death benefit, instead of using the cash value to offset the payment of the death benefit claim.

Once the insurance company is identified, beneficiaries are asked to complete a death claim form indicating the policy number, name, social security number and date of death of the insured, and payment preferences for the death benefit proceeds.

In some cases, policyholders have a choice as to how the benefits are paid; they may receive either a lump - sum or periodic payments, depending upon the type of claim and benefit, but they are still entitled to any remaining cash value and death benefit in the policy.

State regulators, knowing that some unscrupulous life insurance companies in the past would basically swindle people out of money by taking a payment and then delivering a life insurance contract with language that would allow them to deny many death claims, decided that serious protection for consumers was needed.

In exchange for making premium payments over a period of (x) amount of years (x being the length of the term), the life insurance company provides financial protection on the life of an insured person and is legally bound to pay any valid claim upon death of the insured person.

On death of any one member covered under the policy, the cover for the surviving member ceases immediately after death claim payment.

Company promises to provide fund value amount of the policy for payment in case of death claims under the unit linked insurance policies within 48 hours of intimation and submission of the required documents by the nominee.

To receive the sum, a legally entitled beneficiary is usually required to proceed to the claims department of an insurance company and bring proof of death of the insured and make a request to receive payment based on the terms of the life insurance plan.

Staggered payment with increasing annual income @ 5 % p.a, wherein 20 % of Death Benefit is received at the time of claim settlement with the balance proceeds being received as an annual income.

Staggered payment, whereby, 20 % of «Sum Assured on Death» is received at the time of claim settlement, with the balance being received as an Annual income, expressed as a fixed percentage of the Sum Assured on Death, on each death anniversary of the life insured over the chosen payout Death» is received at the time of claim settlement, with the balance being received as an Annual income, expressed as a fixed percentage of the Sum Assured on Death, on each death anniversary of the life insured over the chosen payout Death, on each death anniversary of the life insured over the chosen payout death anniversary of the life insured over the chosen payout term.

Should the husband die while the insurance policy is «In Force», the wife can make a death claim for payment of the death benefit from the insurance policy.

If the death claim proceeds are not received by the nominee of the insured (assuming the policy is in premium paying status) then the entire purpose of premium payment and buying an insurance policy goes in vain.

When the insured person dies, the beneficiary files a claim for payment of the death benefit.

Recurring Payout Option: Under this payout option, the nominee receives 10 % of the sum assured on the death of life insured as an immediate payment once the claim is accepted.The balance amount of sum assured is paid either as monthly or yearly income.

Again, if the policy specifically excludes payment of benefits in the event of death by suicide, they may deny the claim.

If you under report your smoking status, that can give the insurance company reason to challenge payment of the claim upon your death.

This request for payment of the amount due in accordance with the terms and conditions of the policy by the beneficiary is known as Death Claim.

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I was reading a summary of a case that involved the denial of payment on an accidental death claim where the car accident may have been contributed to, or caused by the insured's blood alcohol level of.17.

In case the Master Policy is issued under Lender - Borrower category to any of the «Regulated Entities», the Member shall have an option to issue an authorization in favour of insurer to the effect that in the unfortunate event of the Member's death during the Coverage Term, the claim amount, if any payable under the Master Policy shall first be utilized for payment to Master Policyholder for the outstanding loan amount as specified in Master Policyholder's Credit Account Statement and the balance amount, if any, payable under the Master Policy will be payable to the Member's Nominees / legal heirs or legal representatives (as applicable).

In case of death after completion of 5 policy years and before maturity, the death claim will be 125 % of Basic Sum Assured + Guaranteed Addition (GAs) at the rate of Rs 55 per thousand of Sum Assured per year (up to the policy year of last premium payment) + Loyalty Addition (LA).

You can not be expected to do everything right away, but if the deceased was getting a social welfare payment or you were claiming for them as a dependant or you were getting a Carer's Allowance to look after them, it's important that you notify the Department of Social Protection within the first few days of the death.