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

The company promises to pay a death benefit to a beneficiary when the insured dies as long if the insured meets the conditions of the contract (for example, dying within the term period).

The company promises to pay a death benefit to a beneficiary when the insured dies as long if the insured meets the conditions of the contract (for example, dying within the term period).

The company promises to pay a death benefit to a beneficiary when the insured dies, as long as the insured meets the conditions of the contract.

Not exact matches

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.»

Universal life insurance pays out a tax - free lump sum to your beneficiaries when you die, called a «death benefit.»

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.

Whole life insurance will pay out a set amount of money to your beneficiaries when you die, called a «death benefit.»

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.

Variable life insurance pays a lump sum to your beneficiaries when you die, called a «death benefit.»

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..

When your beneficiaries are paid a death benefit amount, the full amount is theirs to keep.

In return for a premium payment, an insurance company will pay out a stated amount of tax - free death benefit to a named beneficiary — assuming, of course, the policy is in - force when the insured passes away.

Like any life insurance policy, it pays out a death benefit to an appointed beneficiary when you die as long as the policy is in force.

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.

Term life insurance is a «pure» insurance policy: when you pay your premium, you're just paying for the death benefit that goes to your beneficiaries in the event of your death.

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.

Life insurance death benefits are paid to your beneficiary (ies) when you die.

Death Benefit: Money that is paid by an insurance company or employer to a beneficiary when a person dies.

When you die, your VGLI will pay out a lump sum death benefit to your beneficiary.

When you die, the life insurance company gets the cash value of the policy while the death benefit is paid out to your beneficiaries.

When you purchase life insurance, you enter into a contract with a life insurance company that agrees to pay a death benefit to your beneficiary, which can be your spouse, children or anyone you choose.

When / if the primary insured dies during the life of the policy than the death benefit will be paid to the beneficiary.

When you purchase life insurance, you pay a premium to the life insurance company with the understanding that they agree to pay the face amount or death benefit to the beneficiary you have named.

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

You typically have two options when deciding how you want the policy death benefit paid to your beneficiary:

With the whole life insurance policy through Colonial Penn, the full amount of the death benefit will be paid out to a named beneficiary (or multiple named beneficiaries), regardless of when death occurs.

When an AAFMAA member passes away, the death benefit of their life insurance policy is available to be paid to the surviving beneficiaries.

However, any outstanding loan plus interest due will be taken out when the death benefit is paid to your life insurance beneficiary.

A death benefit is simply paid out to the beneficiaries when the policyholder passes away.

Life insurance has one basic purpose: to pay a death benefit to the policy beneficiaries when the insured dies.

Variable life insurance pays a lump sum to your beneficiaries when you die, called a «death benefit.»

First, the basics: No matter what type of policy you have, its basic purpose is to pay a death benefit to the policy beneficiaries when the insured dies.

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.

It's important to note that the money you borrow and don't pay back (including the interest accrued) will be deducted from your death benefit when you die, which means your beneficiary (s) will receive less.

Whole life insurance will pay out a set amount of money to your beneficiaries when you die, called a «death benefit.»

When the second spouse dies, the death benefit that the named beneficiary (ies) receive can be used to pay any outstanding estate taxes.

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.

Normally, when the policyholder dies, the death benefit is paid to the beneficiaries as a tax - free, lump - sum amount (or, sometimes, a series of payments) and that's the end of the transaction.

With a viatical settlement, a viatical settlement company buys your life insurance policy, gives you a percentage of the death benefit upfront, and then pays all the remaining premiums to become the sole beneficiary of your policy — receiving the full benefit when you die.

If you named a beneficiary on your enrollment when you applied for coverage, benefits such as those for Accidental Death and Dismemberment (AD&D) or Flight Accidents will be paid to that person if you die.

But if Mike gets the same policy and dies when he's 55, Insurance Company X has to pay the policy's death benefit — which is usually in the millions — to his beneficiary.

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..

The death benefits associated with the policy are paid to the listed beneficiary -LRB-'s) and there are no guarantees that its benefit will be sufficient when needed to pay for any particular goods or services nor that those goods or services will be provided by any particular provider.

Term life insurance is a less expensive life insurance option and a good choice when you are on a budget because it is temporary and only pays a death benefit to beneficiaries of the policy if the insured dies during the limited term of the policy.

Life insurance death benefits are paid to your beneficiary (ies) when you die.

When the policy is issued, the death benefit coverage it promises to pay helps protect the financial security of the loved ones you've chosen as beneficiaries.

Life insurance policies transfer wealth to beneficiaries through the death benefits paid out when an insured dies.

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.

When the insured person dies, the remainder of the death benefit is paid to the Beneficiary, just as under a traditional life insurance policy.