Sentences with phrase «policy during certain periods»

It is convertible to a permanent policy during certain periods of the policy.

Not exact matches

At certain points during the period of coverage, you can convert your term policy to a permanent life insurance policy (such as a whole life insurance policy or universal life insurance policy) and premiums are determined by your original health rating.

The cost of the policy is certain to be higher than the actuarial cost (cost of claim x probability of claim during insured time period) of repair / replacement of a failed system, as the insurer would need to cover sales costs, operating expenses and profit in addition to the direct policy cost of system replacement.

While life insurance rates will vary according to your particular health and risk profile, term policies are typically the least expensive form of coverage, since they only pay out if you die during a certain period of time (the «term» of the policy).

Certain types of professional liability policies are issued to cover claims made during the policy period rather than things that occurred during the policy period, but that doesn't mean you can backdate renters insurance.

The only caveat is during what's called the contestability period; that usually only takes place at the beginning of the policy, but there's a certain scenario when it can kick in a second time (or third, etc.) during the life of the policy.

I feel that the traditional insurance products gives an insurance coverage even during the policy period and still if the investor is alive, he gets extra amount in form of Bonus + FAB which comes closer to 6 - 7 % which is an excellent option for long term (> 15 years) right whereas Term insurance is only till certain time or else the entire amount gets wasted..

However, any agreement or policy that limits the employee to only certain entitlements during the reasonable notice period must comply with the minimum standards of either the Employment Standards Act («ESA») or Canada Labour Code.

Life insurance policies have a two - year «contestability period,» during which the life insurance company can refute a life insurance claim, or can drop the policy if the insured is found to have misrepresented anything from health status to a risky lifestyle, certain health habits such as smoking or severe depression.

Most IUL policies come with a guarantee that you will be credited a certain amount during a given time period - regardless of how the market performs.

You can choose to change certain terms or opt out of the policy altogether during this period.

The only caveat is during what's called the contestability period; that usually only takes place at the beginning of the policy, but there's a certain scenario when it can kick in a second time (or third, etc.) during the life of the policy.

After an insurance policy is issued you have a certain period of time (usually up to 30 days) during which you can change your mind and cancel the policy for any reason whatsoever.

Term life insurance is a policy that is valid for a certain period of time, which fixed premiums guaranteed during that time period as well.

This is a clause that states that should the insured (meaning you) die from NATURAL CAUSES during a certain period of time immediately after purchasing your life insurance policy (typically 2 to 3 years), the life insurance policy will not pay the death benefit (the insurance coverage amount).

Others allow insurers to cancel policies for any reason during a certain time period, such as 60 days from the policy inception date.

The premium is also subject to certain deductions based on the Insured's Age and Occupation and the No Claim Bonus earned by the Insured during the policy period.

While life insurance rates will vary according to your particular health and risk profile, term policies are typically the least expensive form of coverage, since they only pay out if you die during a certain period of time (the «term» of the policy).

Incontestable clause: In life insurance, a contract clause which provides that for certain reasons, such as misstatements on the application, the company may not contest payment of benefits (assuming premiums have been paid) and the policy has been in force during the lifetime of the insured for a certain period, usually two years after issue.

Maturity Benefit — If the Life Insured survives the maturity of the Policy with all premiums paid, they receive a Guaranteed Payout as a percentage of the Sum promised during the Maturity Payout Period, and 100 % of the Sum which is certain to be paid on maturity, is paid at the end of the 20th year.

You may be charged a surrender fee if you cash in your policy during a certain initial period of time, such as 10 or 20 years.

A provision in a life insurance policy that if the death occurs during a certain time period (often 20 years), the policy will pay an amount equal to the cash value of the policy as of the date of death in addition to the face amount owed.

Virtually all individual life insurance policies contain a clause denying payment if the insured person dies from suicide during a certain period after a policy goes into effect, says Paul Graham, senior vice president of insurance regulation and chief actuary of the American Council of Life Insurers.

A Term plan with Return of Premium is a contract between the applicant and the Life Insurance Company, under which the applicant agrees to pay a certain amount of money (Premium) per year for a fixed period in order to receive a guaranteed amount of money (Sum assured) in the event of his death during the policy term, payable to his nominee (any family member).

Within a certain period during your term, you have the option to convert your term life policy to a permanent policy.

Term insurance is a life insurance policy that provides coverage for a certain period of time where if the insured dies during the time period specified in the policy and the policy is active — or in force — then a death benefit will be paid.

Certain types of professional liability policies are issued to cover claims made during the policy period rather than things that occurred during the policy period, but that doesn't mean you can backdate renters insurance.