Sentences with phrase «pays upon the death of the insured»

This means that in many cases the full amount of death benefit will be paid upon the death of the insured without a waiting period.

All policy types have a stated death benefit that is paid upon the death of the insured person and permanent life insurance also has a cash value which can be used during the person's lifetime.

Life insurance is a contract where, in exchange for premium payments, a lump sum of money is paid upon the death of the insured person.

In addition, loans from insurers secured by policy values are not income and earnings credited to an owner's policy values (known as «inside buildup») by the insurance company are not currently taxed (and may escape taxation altogether if such earnings are not distributed other than as part of the death benefits paid upon the death of the insured).

The policy pays upon the death of the insured or when the insured person reaches a specific age stated in the policy.

The Life Benefit is paid upon the death of the insured due to natural causes while the Accidental Death Benefit, is paid when death is due to an accident.

The face amount of the policy will be paid upon the death of the insured.

This policy has a level death benefit as well which is paid upon the death of the insured.

Not exact matches

Claims are paid after death: You need to understand that claims from life insurance policy can only be made upon the death of the insured.

Simply put, second to die or survivorship life insurance differs from all the other types of life insurance because it insures the lives of two people AND only pays a death benefit upon the death of the last survivor.

The third most common configuration is joint first - to - die, in which the death benefit is paid upon the first death of 2 or more insureds.

In contrast to term insurance, a whole life insurance policy pays the death benefit stipulated in the contract upon the death of the insured, regardless of when it may occur.

Life insurance classified as return of premium (ROP) features a return of premiums paid to purchase coverage if the insured outlives the term of the policy, or payment of some portion of premiums paid to the beneficiary upon the insured's death.

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.&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.&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 insurance company pays out a lump sum death benefit to the beneficiary of the policy upon the death of the insured.

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

The cash value policy pays out a lump sum cash benefit upon the death of the insured for the benefit of the life insurance 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.

The death benefit of a life insurance policy is the amount paid out upon the death of the insured, while cash value refers to the amount of funds in a permanent life insurance policy's cash account.

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

By definition, the paid up value of a life insurance policy is the value an owner receives from the insurer upon default or surrender or early termination of the policy before its maturity or the insured's death.

In many ways, Final expense insurance works like any other type of life insurance policy in that a premium is paid for the coverage, and then upon the insured's death, the proceeds are paid out to a named beneficiary.

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

$ 500,000 Term Life Insurance Term life insurance is a financial security product that pays out funds in a lump sum upon death of the insured.

Upon the death of the insured, the insurance company pays a death benefit that is partly insurance and partly a return of policy's cash value.

Lump - sum payments do not accrue interest: A $ 200,000 policy will pay out exactly $ 200,000 upon the death of the insured party.

Most people are aware that life insurance companies usually pay out a lump sum death benefit upon the death of the insured.

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.

The buyer pays all future premiums and receives the death benefit upon the death of the insured.

Upon the death of the insured, the designated beneficiaries receive the death benefit less the amount paid out under the long - term care rider.

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

Upon the death of the insured, the lump sum death benefit is paid income tax -LSB-...] Continue Reading

A policy under which the insurance company promises to pay a death benefit upon the death of the person insured.

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.

Endowment can also refer to a type of insurance policy that pays a lump sum upon the insured's death or after a specific term.

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.

While a first to die joint life policy pays out upon the death of the first covered person, a second to die life insurance policy will not pay out benefits until both of the insureds have passed on.

This is the amount of money, sadly, paid out upon the insured's death.

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.

The accumulated cash value of the policy will be paid out to beneficiaries upon the insured's death.

Another advantage of simplified term life insurance is that the full benefit is paid immediately upon the insured's death.

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

The death benefit is paid upon the death of the first insured.

According to Guinness World Records news service, the policy features «a combined death benefit to be paid upon the death of the single insured that more than doubles the previous record, set by Peter Rosengard from the U.K., whose record - breaking insurance sale in 1990 sold at $ 100 million (then # 56 million) on the life of a U.S. entertainment industry figure.»

The death benefit is paid upon the first death of the insureds.

Upon the insured's death, the insurer requires acceptable proof of death before it pays the claim.

Also called «second - to - die» life insurance, this type of whole life policy insures two lives (typically spouses) and pays out upon the death of the second individual.