Sentences with phrase «policy holder passes»

To the named recipients when the cheap life insurance for seniors without exam policy holder passes away.

Like any life insurance policy, when the policy holder passes away, the beneficiary, in this case the company, receives the lump sum payment.

The insurer pays up when the policy holder passes away.

However, Type - II ULIPs perform far better if the policy holder passes away during the policy term.

Term Cover: It refers to the tenure of a term insurance plan wherein the sum assured is only paid to the nominees if the policy holder passes away during the plan tenure.

It also pays a death benefit to any named beneficiary if the policy holder passes away within the one - year term.

This is the more economical way to go, since as the cash value increases over time, the insurance company is required to pay out less money from its own funds when the policy holder passes away.

There's just death compensation and that too will be given only if the policy holder passes away within the term.

If the policy holder passes away, their beneficiaries receive death benefits.

This means that if the policy holder passes away before the first two years have elapsed, the beneficiary will only receive the premiums that were paid along with interest.

Answer: The moment a burial insurance policy holder passes away; their beneficiaries may use the funds in any way they see fit.

No stats could be found to support this being false, so just ask your life insurance agent how often a new policy holder passes away in the first year.

This means that until the waiting period has ended, if the policy holder passes away during this time the benefits will only be whatever premiums have been collected or a fraction of the benefit coverage.

Terminal life insurance coverage is one that is growing in popularity as it is one of the few types of insurance that pays out before the policy holder passes away.

Burial or Funeral Insurance: This type of life insurance policy is geared towards covering funeral costs when the policy holder passes away.

Essentially, the only real difference in the benefits from a terminally ill life insurance policy as opposed to standard coverage is that the benefits are paid out before the policy holder passes away.

In this manner, any necessary expenses such as funeral costs, providing a legacy for the beneficiaries and other benefits can be paid out before the policy holder passes away.

The other important thing to remember is that any outstanding loan amounts will be deducted from the death benefit that is paid out if the policy holder passes away.

In addition, should the policy holder pass away while there is still an unpaid loan balance, this amount will be deducted from the total amount of death benefit proceeds that are received by the policy's beneficiary.

Should a policy holder pass away during the «term,» or time frame, of the policy being in - force, a beneficiary (or beneficiaries) will receive the death benefit proceeds.

Should a policy holder pass away during the «term,» or time frame, of the policy being in - force, a beneficiary (or beneficiaries) will receive the death benefit proceeds.

If the policy was a «Term Life Insurance» policy, you will also need to verify that policy was in effect at the time the policy holder passed away.

Not exact matches

With a VUL the insurance company has passed the risk to the policy holder, in exchange for greater choice and potential gains.

This means in the event of the policy holder's death, a spouse would continue to collect payments until they pass away.

> If I had a big policy job, in my capacity as an office holder, I would be guided by the reports of institutions such as IPCC rather than any personal views (a point I've made on a number of occasions); and that I believed that policy decisions could be made without requiring «statistical significance» (such decisions are made in business all the time, and, in all my years in business, I never heard the words «statistical significance» pass anyone's lips as a preamble to a business decision.

This means that the policy holder may actually enjoy the benefits before they pass away.

Survivorship / Second - to - Die Life Life Insurance covers two individuals (usually a married couple), and pays it's death benefit after the passing of the second policy holder.

In addition, if the loan or debt has been resolved before the policy reaches maturity where it can be cashed out or if the policy holder should pass away, then the assignee can be removed and the life insurance reverts to its normal state.

Passing the cost cut down, the policy holders will have to pay less premium rates to give incentive to the availability of data.

In case the spouse passes away, the primary holder's policy will continue as it is with the same premiums.

There are cases where a life insurance company is not aware that the policy holder has passed away.

This is because policy holders will usually be required to pass through underwriting in order to renew their policies.

Upon the policy holders» passing, their beneficiaries will receive their benefits on a graduated basis.

The Commission passed the order on a petition filed by the insurance company challenging the Karnataka State Consumer Commission's order directing it to consider the vehicle claim of policy holder Pragathi Constructions.

Once the policy holder registers in IGMS, details of the complaint are passed on to respective insurance company.

In its most basic sense, life insurance consists of a policy holder paying a premium to an insurance company and in return, the insurance company paying out a death benefit to the beneficiaries of the insured if and when the insured passes away — provided that the policy is in force at the time of the individual's death.

Life insurance is ironically named — in most cases life insurance is actually designed to provide financial benefits after the policy holder has passed.

This only hurts the consumer as insurance companies will pass on the expenses to policy holders in the form of increased premiums.

This is because this type of coverage can help policy holders to protect their loved ones from the high cost of final expenses and other debts, as well as from the loss of income should a family's bread winner pass away unexpectedly.

Add the return of premium rider and at the end of the term, if the insured has not passed away, the policy holder will be reimbursed with 100 % of the premiums paid into the policy.

In case of term insurance policies, the beneficiaries of the policy holder are only entitled to receive benefits if the policy bearer passes away within the term or period of time that was chosen for their insurance coverage.

This type of arrangement can provide a substantial benefit for seniors who own policies that have become unnecessary, such as if the policy holder gets divorced or a spouse passes away.

Whenever the company decides to pass on the additional charges to the policy holder, the method of collection of these charges shall be informed to them.

These two ways are either Direct Recognition, which passes the adjustment only to the policy holders who have outstanding loans and Non-Direct Recognition, which passes the adjustment to ALL of the policy holders, regardless of outstanding loans.

Insurers might also reduce the cost of car insurance for young female drivers if the policy holder has taken the Pass Plus course, which educates on safe driving techniques.

This certainly makes online health insurances cheaper and there is also less chance of payment related problems as the insurance company stays directly responsible to the policy holders and can not pass the blame on somebody else in case there is any problem with the policy.

Child Plans are a combination of investment and insurance.The parent is the Policy holder on behalf of the child who is a minor, and on the completion of 18 years of age the money is passed on to the child.

Insurance companies must deal with a number of local cost factors, all of which they are apt to pass down to their policy holders in an effort to keep their overall costs down.

With a VUL the insurance company has passed the risk to the policy holder, in exchange for greater choice and potential gains.

Choosing an insurance policy with an accelerated benefits allows the policyholder to pay for their daily living in an effort to make it as comfortable as possible while also allowing the holder to look after his or her family once they pass away.