Sentences with phrase «policy means the death»

A lapsed policy means no death benefits are payable to the nominee.

Not exact matches

Due to the lifetime coverage and cash value, whole life insurance costs considerably more, meaning it can easily come to 10 times the cost of a term policy with the same death benefit.

This means that you can purchase a significant amount of accidental death insurance for a much lower premium than you would pay for a traditional life insurance policy.

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.

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).

He noted that, although he disagreed with a few of her policies, he respected «what her death means to the many, many people who admired her».

This rider allows you to receive a portion of your policy's death benefit while you're still alive if you've been diagnosed with a terminal illness (meaning less than 12 months to live).

This means if you die within the first year or two of the policy (for example), you won't receive the full death benefit.

The premiums are incredibly high and increase over time (in contrast to «level term» policies, «level benefit» means the death benefit stays the same while rates rise), and coverage ends when you turn 80.

This means that you can purchase a significant amount of accidental death insurance for a much lower premium than you would pay for a traditional life insurance policy.

This means it will pay out the face amount of the policy at the insured's time of death.

Life insurance policies in fact are so popular that earlier the product which was meant simply to provide death benefit, nowadays has started offering many different features which offer growth in investment, an opportunity to invest in the market, investments that are goal oriented and much more.

Colonial Penn's whole life policy lets you choose the particular death benefit you want, meaning premiums vary based upon your risk profile.

The fact that the cost of insurance rises as you age, and that there are some strategies for increasing death benefits and strategically managing the policy throughout the years to manage the various indexes and crediting options, means that it isn't simple.

This means that the insurance company only had to pay out $ 300,000 at the time of your death, because you had accumulated $ 200,000 in cash value during the life of the policy.

It means the policy most likely wouldn't even pay out the death benefit if he were to die.

Just keep in mind that these policies come with a waiting period, or graded benefit, meaning your beneficiaries won't receive the full death benefit if you die soon after purchasing.

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).

Level term means that the death benefit remains the same during the policy period.

However, if the policy offers a graded or deferred benefit it can mean that death benefits are limited during the first few policy years or simply not covered if death is due to medical reasons.

The maturity clause of a life insurance policy is fairly complicated, but this basically means that the value you would be able to keep by surrendering the policy becomes larger than the total death benefit.

But most of the time, buying a policy just means thinking about your own death.

This means that between a UL policy and a whole life policy purchased at the same time, the whole life policy will often grow faster and offer a greater death benefit.

«Guaranteed 48 hours Fund Value release» means release of the cheque on intimation of death of Life Insured towards the Fund Value accrued under your policy, in the beneficiary's name within 48 hours and does not in any way indicate acceptance of any other policy liability.

Fund Value means the market value of the units as on date of Intimation excluding sum assured and any other death benefit after deducting applicable charges as per «policy bond» as on date of Intimation.

If you mean the death benefits of the insurance policy, then these funds are generally free from income tax to your named beneficiary or beneficiaries.

This means that you have total control over this asset and if you choose to treat your whole life policy like a business, the repaid loan interest maximizes the policy return for both the cash value and the death benefit.

However, it contains a Graded Death Benefit for the first two years — this means that if death occurs within the first two years of policy ownership, your beneficiaries will receive your accumulated premium payments and 10 % interest instead of the face amount of your poDeath Benefit for the first two years — this means that if death occurs within the first two years of policy ownership, your beneficiaries will receive your accumulated premium payments and 10 % interest instead of the face amount of your podeath occurs within the first two years of policy ownership, your beneficiaries will receive your accumulated premium payments and 10 % interest instead of the face amount of your policy.

North American's Universal Life policy doesn't accrue value or offer dividends to their owners, which means that you don't have much opportunity to increase your policy's death benefit.

Whole or «permanent» life insurance means the policy will run for your lifetime and payout upon your death.

What this means is that state law requires your insurance policy provides you with $ 20,000 worth of coverage for bodily injury or death that you cause to other individuals, $ 40,000 worth of coverage for bodily injury or death caused per accident if multiple people are involved, and $ 10,000 worth of coverage for property damage caused in other states.

They also may feature graded death benefits, meaning you won't receive the full benefit amount if you die during an initial period of time (usually the first year or two of the policy).

Permanent coverage essentially means that whether you die 5 years from now or fifty, the net death benefit of your policy will be paid to your beneficiary.

A key advantage of an ILIT as compared to personally owning the insurance policy is that if the trust is set up and administered correctly, the assets owned by the ILIT will not be considered part of your estate for federal inheritance / estate tax purposes — meaning your heirs won't have to pay estate or inheritance taxes on the life insurance death benefits that are paid.

Since the policy is meant to cover all the expenses of a policy holder's family upon his death the amount of coverage should be decided accordingly.

Term plans are meant to provide the dependants of the policy holder enough funds to cover the policyholder's income in case of his / her death.

This means that if you die within the first two years after the policy is issued, you will be entitled to a return of the premiums paid (up to 110 %) but not the death benefit itself.

Life insurance goes into effect as soon as you make your first premium payment, meaning you're eligible for the death benefit as soon as the policy is in force.

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

Repaying the cash value in your policy allows it to exponentially grow, allowing more cash value, more guaranteed growth, more tax advantaged dividends, growing death benefit and essentially a compounding AND EVER EXPANDING SAFE BUCKET to provide greater means to pursue, higher risk, higher return investments... and the strategy compounds and grows and grows and compounds.

It's important to note if you take out a loan on your whole life insurance policy and die while the loan is out, the death benefit may be used to pay back the outstanding amount, meaning your beneficiaries won't get the full amount.

That means that, in addition to covering your life, your life insurance policy will provide a death benefit in the case that one of your children passes away.

So it may depend on whether you have access to the funds directly or if you are just the beneficiary on death (meaning whoever set up the policy owns the cash value, not you)

The investor is diversified against the risk of any single policy's financial impact, which in turn also means the investor has very little to gain from the death of any particular insured individual.

Getting married means that you'll probably want to increase the amount of your policy, leaving a significant portion to your partner in the event of your death.

«Nothing happening at this conference» Professor Dr. William Alexander, emeritus of the University of Pretoria in South Africa and a former member of the United Nations Scientific and Technical Committee on Natural Disasters, warned poor nations and their residents that the UN policies could mean more poverty and thus more death.

Nothing in this section is intended or shall be construed to apply to any accident insurance policy insuring against accidental death or death by accidental means or to those parts or provisions of any life insurance policy insuring specifically against accidental death or death by accidental means.

The Silver Guard l plan offers a guaranteed level amount of death benefit, which means that from the date of policy issue, the amount of the life insurance coverage will never decrease.

A level death benefit means the face amount of the policy is in force from day one.

Here are common exclusions for accidental death policies (meaning you won't get paid if your death results from these activities):