Sentences with phrase «pays a death benefit to the beneficiary if»

Term life offers coverage for a set period of time and then expires, and pays a death benefit to beneficiaries if the policyholder dies while the policy is in effect.

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

The Insurance Company — issues the policy and is responsible for paying the death benefit to the beneficiaries if the insured dies while the policy is in force

Due to the set time frame of term life insurance, the policy will only pay a death benefit to the beneficiary if the insured's death occurs while the policy is in - force.

They both offer different term periods (e.g. 10 years, 20 years) and both pay a death benefit to your beneficiary if you die during the term period.

Life insurance with fixed term coverage will pay a death benefit to your beneficiaries if you die within the term of your policy.

Act of war exclusions protect insurance companies from having to pay death benefits to beneficiaries if the insured person dies as an act of war.

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.

With a guaranteed issue life insurance policy, if you die because of an accident (e.g. a car crash) within the first two years, the full death benefit will be paid to your beneficiaries.

If you die by any means after the first two years, the full death benefit amount 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.

If the insured dies within this term (10, 15, 20, 25, 30, or 35 years), the life insurance company pays a lump sum death benefit to the policy's beneficiaries.

If you pass away during this period of time, the insurer wouldn't pay the full death benefit to your beneficiary.

Another reason to pay back the policy loan is that the total outstanding balance would be deducted from the death benefit your beneficiaries received if you passed away.

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.

Take life insurance as an example: you pay for a policy, and if you die during the term then that money (the death benefit) goes to the person you named as your beneficiary on the policy.

Term life insurance pays a death benefit to the policy beneficiary if the policyholder dies within the term of the policy.

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.

Life insurance companies pay a death benefit (sometimes in the millions) to the beneficiaries of an insured if they die.

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.

With a life insurance policy, if the insured person dies, the life insurance company will pay out a death benefit to the beneficiaries.

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

Parents will often request to have their life insurance death benefit paid in installments if their beneficiary is a young child or someone dependent on their income.

If you die during the first two years, the death benefit paid to your beneficiaries generally will be the amount you paid in premiums plus interest, although some companies will pay the full face amount for accidental death.

If your grandmother has also passed and there are no other named beneficiaries, then the death benefit will be paid to your uncle's estate.

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.»

Or, if you prefer, you can preselect how the death benefit will be paid to your beneficiaries (available with nonqualified and IRA contracts only).

The insurance company will pay the death benefit to your named beneficiary if you die while your policy is in effect.

With a guaranteed issue life insurance policy, if you die because of an accident (e.g. a car crash) within the first two years, the full death benefit will be paid to your beneficiaries.

If you die, the policy pays out a lump sum death benefit to your beneficiary.

Back in the day, any form of flying was considered extremely hazardous and most life insurance companies would either force the applicant to pay an exorbitant amount or they would add an aviation exclusion clause to the policy, in other words, if you died as the result of a plane crash, your beneficiaries wouldn't receive the death benefit.

The repayments that you then make to your life insurance policy will usually have a low rate of interest — and, if you do not end up paying back these funds, the amount of the unpaid balance will be deducted from the death benefit that your beneficiary receives.

If you die within that specific period of time, the life insurance carrier pays a death benefit to your beneficiaries.

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.

For life insurance policies that pay death benefits in the form of a lifetime payout, the portion of the payout that is not subject to tax if the policy has no refund provision or stated time period guarantee which is determined by dividing the amount of the death benefit by the life expectancy of the beneficiary.

If the insured dies early in the policy's life, the death benefit paid to beneficiaries will be much lower than would be the case if option A was choseIf the insured dies early in the policy's life, the death benefit paid to beneficiaries will be much lower than would be the case if option A was choseif option A was chosen.

Therefore, if you don't have a named life insurance beneficiary, or they're deceased, your family may never receive the death benefit you paid to have in place.

If the policyholder dies while the policy is in force, the coverage amount (grimly called a «death benefit») is paid out in one tax - free lump sum to the beneficiaries named in the policy.

For SPIAs with death benefit riders, a benefit would be due to a beneficiary if the cumulative income payments made are less than the initial premium paid.

If the policyholder outlives the term of the policy, no death benefit is paid to their beneficiaries.

If you die while the policy is in effect, then the insurer pays the full death benefit to whomever you've named as the beneficiary.

If the policyholder dies within the term of the policy — and the policyholder has paid the premiums and the policy is in good standing — the insurance provider will pay a death benefit to policy's named beneficiaries.

Aside from certain exceptions, if you die while your policy is in force, your insurer will pay out a death benefit to your beneficiaries.

If you die during the policy term, the policy pays out the predetermined sum of money (or death benefit) to your named beneficiary (ies) as long as you continued to pay your premiums on time.

So, even if the entire death benefit is advanced due to long term care needs, the policy will still pay a lump sum death benefit to your beneficiary when you die.

It's important to note if you take out a loan on your whole life insurance policy and die while the loan is out, the death benefit may be used to pay back the outstanding amount, meaning your beneficiaries won't get the full amount.