Sentences with phrase «policy receives the full death benefit»

Upon the viator's death, the third party who purchased the policy receives the full death benefit.

Not exact matches

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

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.

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).

After two years have passed since buying the final expense policy, your beneficiaries will receive the full death benefit amount no matter what causes your death.

In addition to the higher premiums, one of the main drawbacks to a guaranteed issue life insurance is that your beneficiaries wouldn't receive a full death benefit until your policy has been in force for a specific length of time (typically between one or two years, depending on the life insurance company).

If the insured never needs long - term care, the beneficiaries receive the full death benefit as they would with any typical life insurance policy.

The selling policyowner receives an upfront cash payment in exchange for transferring ownership of the life insurance policy — typically more than any existing cash value but less than the policy's full death benefit — and the investor as the new owner then continues to make the ongoing / annual premium payments.

Once the policy has matured, your family will receive the full death benefit.

Here, the named beneficiary will not receive the full amount of the death benefit if the insured dies within the first two or three years that the policy is in force.

In order to receive full death benefits, the insured must hold the policy for at least three years.

If you die within the first two years after policy was issued, your death benefit will be limited to your amount of premiums plus 12 % per year, unless you die accidently in the first 2 years you will receive the full death benefit.

For those who don't know (anyone reading this site is probably pretty knowledgeable on the subject), you can borrow from your policy without touching your credit, earn dividends if it's a participating policy, pay it off in full early, and even receive the full death benefit while still alive if you make it past age 100.

With a viatical settlement, a viatical settlement company buys your life insurance policy, gives you a percentage of the death benefit upfront, and then pays all the remaining premiums to become the sole beneficiary of your policy — receiving the full benefit when you 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.

People who have a serious health problem may receive a policy with a «graded death benefit,» which means the coverage amount increases over time and your beneficiaries won't receive the full face value if you die within the first few years of the policy.

If you purchase a long - term care hybrid policy and never actually need long - term care, most life insurance companies have set it up so that the money you've paid in for the rider will ultimately be rerouted to your regular life insurance coverage, and your beneficiaries will receive the full death benefit amount.

You will automatically qualify for the policy, but it is the most expensive type available, there is usually a limit to the benefits placed on the policy, and your beneficiaries will not receive the full death benefits for a preselected period of time after it is put into effect.

The mortgage protection insurance your family receives as a «death benefit» will not be taxed; they will receive the full amount stated in the insurance policy, tax - free.

If the beneficiary sets a time to stop receiving interest payments and is alive when that time comes, they will receive the full death benefit of the policy then.

If the insured never needs long - term care, the beneficiaries receive the full death benefit as they would with any typical life insurance policy.

[2] The third party becomes the new owner of the policy, pays the premiums, and receives the full death benefit when the insured dies.

What this means is that policyholders will only receive a percentage of the death benefit for the first three years the policy is owned — until the policy reaches full or level benefits at year three.

What is meant by the graded death period is that your beneficiaries will receive a return of premium instead of the full death benefit, if you pass within 2 - 3 years of taking out the policy.

If, however, the senior insured dies after owning the policy for longer than two years, and then the beneficiary would be able to receive the full amount of the death benefit that is stated in the policy.

Hello Mr. Clark, With the vast majority of life insurance policies, if something happens to you, your spouse will receive the full death benefit from your policy.

Should the insured live past the first few years of policy ownership and pass away after that, the beneficiary would be able to receive the full amount of the death benefit — even on a plan that contains the graded death benefit option.

What we mean by this is that it's always better to have an insurance policy with a 100 % guarantee that your loved ones will receive the full death benefit right away upon your passing.

The selling policyowner receives an upfront cash payment in exchange for transferring ownership of the life insurance policy — typically more than any existing cash value but less than the policy's full death benefit — and the investor as the new owner then continues to make the ongoing / annual premium payments.

There is a 2 - year waiting period to receive the full death benefit, and cost is determined by age when applying, so we highly recommend buying a policy asap to get the clock running.

Most GI policies have at least a 2 - year waiting period before the beneficiary can receive the full death benefit as a result of a death due to a medical condition.

The third party takes over paying the policy's premiums and receives the full $ 1 million death benefit when the insured dies.

However, if the policy has been owned for several years before the insured passes away, the named beneficiary (or beneficiaries) will receive the full amount of the policy's death benefit proceeds.

If you die during the «term» of your policy, your «beneficiaries» (people you choose) will receive the full death benefit from your life insurance policy tax free.

For example, should the insured pass away within the first two years that the policy is in force, the beneficiary (or beneficiaries) may only receive back a refund of the premium instead of the full death benefit amount.

The third party becomes the new owner of the policy, pays the premiums, and receives the full death benefit when the insured dies.

So, the pig would bail them out and take over ownership of the policy and keep it in force until the insured's death, netting a 100 % profit when they received the full death benefit.

Although there is a two year waiting period for beneficiaries to receive the full death benefit and the cost of these policies are high, their premiums are guaranteed for life.

If you die the day the policy goes in force then your beneficiary would receive 100 % full death benefit payout.

Under this form of the one - year term option, the insured's designated beneficiary can receive a death benefit equal to the full face value of the underlying policy.