Sentences with phrase «policy as death benefit»

In the event that you die within the specified term, the insurance company pays the exact value of the policy as a death benefit to your beneficiaries.

In the event that you die within the specified term, the insurance company pays the face value of the policy as a death benefit to your beneficiaries.

If death occurs while flying as a passenger on a commercial airline, due to a crash, that passenger who has an active life insurance policy is considered insured, and his beneficiary will receive the face amount of the policy as a death benefit.

The second option pays out the face amount on the policy as the death benefit.

Not exact matches

As the name implies, term life insurance will provide a death benefit if an individual dies within the policy's term, up to 20 years typically.

The death benefit and payment plan of any standard whole life insurance policy are set as part of the policy and do not change.

This has the impact of providing you cash as well as reducing the life insurance policy's death benefit.

Buying paid - up additions is similar to buying a small single - premium life insurance policy as you increase the policy's cash value and death benefit but don't have ongoing payments.

Payouts for dismemberment are typically listed as a percentage of your policy's death benefit, with a certain percentage corresponding to each limb (or combination thereof).

However, the policy only pays a death benefit if you die due to a covered accident, such as a plane crash or sudden fall.

Term life insurance policies are quite cheap and can come with a variety of riders offering such assistance as disability income, waiver of premiums, and an accelerated death benefit in the case you become permanently disabled.

Permanent insurance, which includes whole life and universal insurance policies, is for life: It provides a death benefit for as long as you pay the premium, but also may include cash value that can be accessed during the insured person's lifetime.1

No medical exam life insurance is more expensive than fully underwritten coverage and typically provides fewer options, such as the ability to increase your death benefit or convert a term policy to permanent coverage.

This is known as a partial surrender, which reduces the cash surrender value of the policy and the death benefit amounts.

And life insurance policies with limited underwriting, such as simplified issue or guaranteed acceptance policies, regularly restrict death benefits to be less than $ 100,000 to $ 250,000.

Survivorship Builder is a single policy covering two lives that pays the death benefit upon the second insured's death — an option that might prove beneficial to some, such as, providing an income tax free death benefit, liquidity for estate taxes and wealth transfer and supplemental income needs.

This rider — also known as a Terminal Illness Death Benefit Rider — is included in your policy at no charge.

Universal life insurance is a flexible type of permanent life insurance policy in which the death benefit and premiums can be adjusted as your circumstances change.

Whole life insurance policies are generally more expensive than alternatives, such as term life insurance, and the death benefit directly impacts that cost, so it's important to evaluate your family's needs before deciding to purchase.

In the case that you pass, the policy beneficiaries should file a claim with the insurer, after which point the circumstances of your death will be reviewed and receive the payout (also called a death benefit or the face value of the policy) so long as everything is in order.

The taxable amount would be the the death benefit minus the value of whatever was paid to you, as well as any amount paid in premiums since they acquired the policy.

At certain points during the term of coverage, such as your birthdays, you can increase the policy's death benefit and premiums will be determined using your initial health rating.

However, this means that if something happens down the line that causes the owner of a policy to not want their initial beneficiary to receive their death benefit (such as divorce), it'll still go to the beneficiary they chose during their application.

Accelerated death benefits are also known as «living benefits» since you are able to use portions of your policy's death benefit while you are still alive.

A term life insurance policy offers coverage for a specified period of time, meaning that if you die during the term of the policy the beneficiary will receive the specified payout (also known as the death benefit or face value of the policy).

The percentage of the death benefit you can receive is generally less than 50 %, what qualifies as a terminal illness varies depending on your policy, and the payout you receive may be deducted with interest from the face value of your policy.

As the names imply, decreasing term policies pay a lower death benefit over time, while level term policies maintain the same death benefit for the term of the coverage.

A terminal illness rider, also known as an accelerated death benefit rider, offers you the option of receiving a percentage of your policy's payout immediately in the case you're diagnosed with a terminal illness.

As a general rule, death benefits from a life insurance policy are exempt from income tax.

Among them are the rights to: bullet joint parenting; bullet joint adoption; bullet joint foster care, custody, and visitation (including non-biological parents); bullet status as next - of - kin for hospital visits and medical decisions where one partner is too ill to be competent; bullet joint insurance policies for home, auto and health; bullet dissolution and divorce protections such as community property and child support; bullet immigration and residency for partners from other countries; bullet inheritance automatically in the absence of a will; bullet joint leases with automatic renewal rights in the event one partner dies or leaves the house or apartment; bullet inheritance of jointly - owned real and personal property through the right of survivorship (which avoids the time and expense and taxes in probate); bullet benefits such as annuities, pension plans, Social Security, and Medicare; bullet spousal exemptions to property tax increases upon the death of one partner who is a co-owner of the home; bullet veterans» discounts on medical care, education, and home loans; joint filing of tax returns; bullet joint filing of customs claims when traveling; bullet wrongful death benefits for a surviving partner and children; bullet bereavement or sick leave to care for a partner or child; bullet decision - making power with respect to whether a deceased partner will be cremated or not and where to bury him or her; bullet crime victims» recovery benefits; bullet loss of consortium tort benefits; bullet domestic violence protection orders; bullet judicial protections and evidentiary immunity; bullet and more...

At certain points during the term of coverage, such as your birthdays, you can increase the policy's death benefit and premiums will be determined using your initial health rating.

Make comparisons of premium costs for many different policy variations such as the death benefits amount, and optional riders.

In a nutshell, while most whole life insurance is fixated on maximizing the death benefit of a policy and just allowing cash values to grow over time, strategic self banking focuses on maximizing life insurance cash values, so the whole life insurance plan can be used strategically as a savings and personal financing vehicle for the purpose of recapturing your cost of capital incurred when having to deal with third party lenders or using your own cash.

Whole Life Insurance Definition: also known as ordinary life insurance, it is a type of permanent life insurance policy that offers a guaranteed death benefit, guaranteed fixed premium, guaranteed cash value and guaranteed access to the policy's cash value through loans and withdrawals.

If you die as the direct result of a vehicular, air, or sea accident that you did not deliberately cause, your insurer will pay your beneficiary the accidental death benefit, which is normally twice the value of your insurance policy's face value.

We want to provide you the freedom to shop around and compare monthly costs to different policy options such as the death benefit, optional riders, and length of the contract.

As an added benefit, the life insurance death benefit of the new hybrid policy would pay off her mortgage if she passed away, assuming she didn't use the policy for long - term care.

On the other hand, as long as premiums are paid, a permanent life insurance policy will always pay out a death benefit since it never expires.

No medical exam life insurance is more expensive than fully underwritten coverage and typically provides fewer options, such as the ability to increase your death benefit or convert a term policy to permanent coverage.

This has the impact of providing you cash as well as reducing the life insurance policy's death benefit.

And life insurance policies with limited underwriting, such as simplified issue or guaranteed acceptance policies, regularly restrict death benefits to be less than $ 100,000 to $ 250,000.

Buying paid - up additions is similar to buying a small single - premium life insurance policy as you increase the policy's cash value and death benefit but don't have ongoing payments.

In case of occurrence of any of listed Critical illness, the Benefit (as chosen during inception) will be payable to you as a lump sum amount, irrespective of the death benefit payout option chosen, subject to policy being in force and all due premiums have beeBenefit (as chosen during inception) will be payable to you as a lump sum amount, irrespective of the death benefit payout option chosen, subject to policy being in force and all due premiums have beebenefit payout option chosen, subject to policy being in force and all due premiums have been paid.

Life insurance policies have a variety of tax benefits, such as the death benefit paid to beneficiaries being free of income tax.

This Non guaranteed benefit (as percentage of Sum Assured on Maturity) is paid out as a cash bonus every year starting from the 6th Policy year, until maturity or death, whichever is earlier.

These can pay a benefit based on a percentage of death benefit (as you said, 2 % or 4 % and other options as well), and the benefit deducts right off the top of the policy.

With a family income policy, rather than a lump sum of money, the death benefit is paid out in monthly increments as a portion of the total death benefit.

Include the death benefit and cash surrender value — if any — of each policy, as well as the names of the insurance companies and the beneficiaries.

The cash value accumulation then slows again as the policy holder ages and more of the premium is applied to the death benefits.

Death Benefit Payable: In the event of death, provided the policy is in force & all due premiums have been paid the death benefit will be paid out as equal annual instalments for 15 years or 20 years depending on the death benefit option selected by the custDeath Benefit Payable: In the event of death, provided the policy is in force & all due premiums have been paid the death benefit will be paid out as equal annual instalments for 15 years or 20 years depending on the death benefit option selected by the cuBenefit Payable: In the event of death, provided the policy is in force & all due premiums have been paid the death benefit will be paid out as equal annual instalments for 15 years or 20 years depending on the death benefit option selected by the custdeath, provided the policy is in force & all due premiums have been paid the death benefit will be paid out as equal annual instalments for 15 years or 20 years depending on the death benefit option selected by the custdeath benefit will be paid out as equal annual instalments for 15 years or 20 years depending on the death benefit option selected by the cubenefit will be paid out as equal annual instalments for 15 years or 20 years depending on the death benefit option selected by the custdeath benefit option selected by the cubenefit option selected by the customer.