Sentences with phrase «policy owner»

The phrase "policy owner" refers to a person or entity that has purchased an insurance policy and has the right to make decisions about it. They are the ones who control the policy and are responsible for paying premiums and making any changes or claims. Full definition
Life insurance policies are purchased by policy owners for different sets of reasons.
For policy owners who wish to have policy related services, our website's registration process requires you to provide your social security number and policy number.
Name of Policy Owner — The person who has applied for and set up the policy and is paying the premium on it (also called the policyholder).
Long - term care riders added to permanent life insurance allow policy owners to address two very important coverage needs with a single product.
As policy owner, you still have the option to designate the beneficiary of the death proceeds.
Life insurance policy owners who possess permanent plans are likely to have built up a significant amount of savings within their policies.
Term life policy owners typically purchase life insurance for an amount of time that will last as long as their beneficiaries will need financial protection.
Many policy owners who consider selling their policies through life settlement transactions are uneasy about the idea of a life settlement company essentially waiting for them to die.
As obvious when policy owners purchase this rider, they also have to pay more in premiums for this rider.
Policy owners with similar evaluation results are placed in the same category and equally in the risks and rewards of that group.
As such, life insurance companies has developed the inflation rider, which policy owners can purchase as an add on rider to their policy, which would raise their face amount annually.
The estate tax life insurance relationships is present because many policy owners do not want their families stuck with paying the estate tax which can be considerable.
Only policy owners of participating policies are eligible for dividend payments.
Essentially, it's a portion of the company's surplus that is shared with participating policy owners.
Policy owners make transfers like this to get a better return on investment.
While this will reduce the cash value, and the surrender value, of the policy, it is a helpful feature that many policy owners take advantage of at some time.
The insurance company pays a specified amount of money / death benefit to the beneficiary of the insurance policy owner upon his death, as stated earlier in the policy agreement.
You will make the buyer the new policy owner, and the buyer will start paying your premiums.
Whatever the reason, policy owners need be aware of all of the options they have at their disposal when deciding what action to take when shedding an unwanted policy.
In the event that the insured policy owner has weeks left to live and can verify such by medical evaluation, then death benefit payments can start being paid out to allocated beneficiaries.
The time may come when life insurance policy owners want to rid themselves of the policies they own.
It assumes that no withdrawals or loans have been made during the period since policy owner actions can affect the results of a life insurance policy significantly.
The advantages will be received if and only if within the time framework of the program the insurance policy owner passes away.
The whole life insurance for parents over 65 offers benefits for the entire life of the insurance policy owner while the overall look insurance plan includes the mother and father over a set interval.
However, most policy owners opt for a larger policy amount, like $ 100,000 of life insurance or even $ 500,000 of life insurance.
Life insurance premiums are deductible as a business - related expense, and the death benefit is generally tax - free for individual policy owners.
A variable universal life insurance policy does not necessarily require policy owners to always make premium payments.
A flexible premium life insurance contract that permits policy owners to adjust their policy's premiums, timing of payments, and face amount from time to time.
Since this is less likely, insurers are willing to take their chances and try to accumulate as many younger policy owners as possible.
Some plans might also offer policy owners the option of paying for the policy in a single, lump sum.
Usually policy owners end up paying a chunk from their own pockets.
Many states now require life insurance carriers to notify policy owners about life settlement options when they are about to lapse a policy.
The employee - policy owner therefore gets the use of the cash value and thus can take advantage of the benefits offered by infinite banking.
In the 1980's when interest rates started rising many dividend paying whole life insurance policy owners saw increasing interest rates that did not reflect lower policy dividends.
It assumes that no withdrawals or loans have been made during the period since policy owner actions can affect the results of a life insurance policy significantly.
Current policy owners may continue to make additional premium payments subject to their contract provisions.
Most of the premium dollars paid by indexed annuity policy owners are invested by the issuing company in traditional fixed income securities such as bonds and mortgage loans.
With respect to the estate tax exemption, many policy owners now recognize their modest estate no longer requires the tax planning provisions offered by their life insurance policy.
Take those with a grain of salt, as they represent a small subset of long - term disability policy owners.
On transfer, policy owners retain at least 85 % of the insurance benefits they were promised.
I've been a Healthy Paws policy owner since 2013.
As a means of rewarding our rental & landlord home policy owners who have remained claim free, we are offering up to a 30 % No Claims Discount on our policy.
Higher income, risk averse policy owners will probably find the return - of - income rider with its guaranteed rate of return more appealing.
The company has a committed policy owner support system and is prompt to adopt leading technologies and practices to guarantee the best products and services possible for its clients.
It is important that policy owners discuss with their life settlement broker or life settlement provider all the required disclosures applicable to their state law.
Most policy owners solicit the assistance of a life settlement broker when attempting to sell their policies.
Not the most popular of available term life insurance options and is usually offered as supplemental options to property owners, homeowner and multiple policy owners.
Unlike policy owners, beneficiaries do not have to have an insured interest in the person covered by a life insurance policy.
Sure, insurance companies will still consider the usual profile of a car policy owner.
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