Sentences with phrase «policy is considered»

The policy is considered not surrendered and the payments are assumed to be continued.

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.

Generally, the cash value of a whole life policy is considered exempt.

The reason an HO - 2 policy is considered the most basic is due to the fact that it is a «named - peril» policy.

Sometimes the umbrella policy is considered to be the primary policy «on the risks» for certain situations.

Because an insurance policy is considered to be a contract, the agreement and its underlying clauses are considered to be legally binding.

A 1 year term insurance policy is considered annual renewable term life insurance because it offers you the option of renewing your term life coverage for another year at expiration, without having to take a physical exam to qualify.

The section of the insurance coverage that covers «other insurance» will need to be reviewed to determine which policy is considered primary and which is considered excess.

The 5 year term life insurance policy is considered by this author to be a better deal than the one year term policy even though it costs a little more in premiums.

The con to single premium is the policy is considered a modified endowment contract and you lose some of the tax advantages of cash value life insurance.

Because of this limited risk, the policy is considered a type of securities contract.

Once you have paid into the policy for the requisite years or to age 65, the policy is considered paid - up.

Changing your beneficiary is not complicated, but since a life insurance policy is considered a legal document it must be done through the appropriate system.

This type of insurance policy is considered to be quite risky.

Online mode of buying health insurance policy is considered the easiest way as you can apply for health insurance scheme online with the help of internet.

After a life insurance policy is considered a modified endowment contract, it can not be reclassified as a standard life insurance contract again.

Non-payment & late payment of premium In case the premium is not paid on the due date, the policy is considered as lapsed and the policyholder loses its benefits.

Then, the policy is considered to be paid up, and no more premiums will be due.

The policy is considered «fully funded».

The proceeds from such loans are generally not taxable, unless the policy is considered to be a MEC (modified endowment contract), in which case the funds will be treated as if they were «income - out - first.»

Beware, as mentioned above, if you take dividend payments they may be taxable if your policy is considered a modified endowment contract to the extent that there is a gain in the policy.

Any cash you withdraw from your universal life policy is considered «basis first.»

This kind of life insurance policy is considered temporary life insurance.

Before we delve into why term life insurance policy is considered an asset or not, we should back up for a second and define what an asset — and an asset class — really is.

Since an SR22 policy is considered a high - risk category and will cost more for the driver to remain insured, there are ways to save money on this certificate.

Since an SR22 policy is considered a high - risk category and will cost more for

In cases where premiums are overdue, the policy is considered in a lapse state.

If the premium is still not paid in this period, then the policy is considered as lapsed and you have to revive your policy.

Because a term policy is considered to be «temporary» coverage, it is oftentimes thought to be a good way to cover temporary needs.

Each policy is considered a Trust (no need to create a separate Trust) and needs to have a Trustee.

Therefore, these criteria must be met before the policy is considered to be in place.

A life insurance policy is considered your personal property and — as such — you have the right to sell that policy just like any asset that you own, such as a house or a stock.

This is because your insurance policy is considered the primary insurance since your vehicle was the one involved in the accident.

Again, the insurance company can tell you if your policy is considered a Non-Tax Qualified policy.

A life insurance policy is considered a legal contract between the insurer and the owner of the policy.

Any amount of money received that exceeds the total amount of money paid into the policy is considered a gain in the policy and subject to ordinary income tax.

A life insurance policy is considered your personal property and — as such — you have the right to sell that policy any time you like.

A universal life insurance policy is considered to be flexible, as the policy holder may — within certain guidelines — alter the premium payment amount and / or timing in order to fit in with his or her changing needs.

Allstate's TrueFit term life insurance policy is considered to be quite flexible, as it can be specially designed to fit with your changing needs over time.

An example of how borrowing from your life insurance policy could be a problem, especially if you are borrowing money because you are having hard financial times, is that your cash value in your life policy is protected from creditors, but a loan from your life insurance policy is considered cash, and so this is no longer protected from creditors.

On the other hand, a «whole» or «universal» policy is considered permanent, providing coverage for the entire life of the insured.

The last but not the least basic insurance policy is considered for the individual who are not insured or under insured.

This type of policy is considered to be more flexible than whole life, though, because the policy holder may choose — within certain parameters — how much of the premium will go towards the policy's death benefit, and how much will go into the cash value.

However, filing a false claim or concealing information to obtain a benefit under an insurance policy is considered fraud in many states and subject to criminal or civil penalties.

A life insurance policy is considered property.

After this time, your policy is considered in effect and you'll be subject to the rules and limits of your agreement.

The date a policy is considered to be in force.

Contract A life insurance policy is considered a legal contract between the insurer and the owner of the policy.

By definition a typical Single Premium Whole life policy is considered a MEC.

After two years though, your policy is considered to be incontestable.