Sentences with phrase «policyholder becomes»

A feature added to some life insurance policies providing for waiver of premium, or payment of monthly income, or other benefits if the policyholder becomes totally and permanently disabled, as provided in the policy.

Additionally, there could also be an option to accelerate a certain percentage of the benefits if the policyholder becomes terminally ill.

Therefore, the insurer can not decline a policy renewal if the policyholder becomes terminally ill.

In the context of life insurance, it waives the premium payment in case the policyholder becomes seriously ill or disabled.

A waiver of premium rider is a clause in an insurance policy that waives the premium payment for a specified period in the event the policyholder becomes disabled or critically ill.

A feature of some policies for the waiver of premium if the policyholder becomes permanently and totally disabled.

If the policyholder becomes permanently disabled because of an accident, all future premiums are waived off while the policy continues

Most term life insurance policies will not be able to be renewed once a policyholder becomes a senior.

Waiver of premium riders can be purchased so that if the policyholder becomes disabled, the insurance company will allow them to forgo regular premium payments until they recover.

To help keep rates affordable for all Farmers customers, we must occasionally cancel a policy if a policyholder becomes a high risk - for example, by filing multiple claims within a brief time period, causing an accident while under the influence of alcohol or drugs, or taking unnecessary risks (careless use of flammable liquids, reckless driving, etc.).

A waiver of premium rider is an insurance policy clause that waives premium payments in the event the policyholder becomes critically ill, seriously injured, or disabled.

The insurer will pay up to the limit mentioned in the policy if the policyholder becomes legally liable to pay for accidental body damages to the third party arising from an incident during the insured trip.

If the policyholder becomes terminally ill, the insured can access a portion of the death benefit.

In the event that the policyholder becomes temporarily disabled and is unable to work, the premiums payments will be waived until the policyholder has recovered.

Waiver of premium: Some insurance contracts have a provision in place which allows the insurance company to waiver the collection of premiums while keeping the policy in force if the policyholder becomes unable to work because of an accident or injury.

In addition to this, most critical illness plans will pay out if the policyholder becomes permanently disabled due to their injury or illness.

If for example a policyholder becomes disabled for 6 months or more, the policy will still continue to take effect as long as the incapacity lasts even if without premium contributions.

In the event that the policyholder becomes temporarily disabled and is unable to work, the premiums payments will be waived until the policyholder has recovered.

Not exact matches

Loss of use (sometimes called additional living expense) coverage gives renters insurance policyholders financial protection and peace of mind in the event their rental home becomes uninhabitable.

And when talking with a potential policyholder, it becomes a really great sales tool.»

Trade Credit Insurance Policies are designed to protect policyholders in the event that a domestic or overseas customer or financing recipient becomes insolvent or defaults upon a payment.

In the event a condo becomes uninhabitable, loss of use coverage reimburses policyholders for qualified expenses.

Claim payments are made out to the policyholder, and you'll always be able to move your policy individually should it become necessary.

These non-profit state associations provide a safety net for policyholders and ensure that you will continue to receive annuity benefits if your insurance company becomes insolvent.

With most CoverMe ™ health and dental plans, you can earn AIR MILES ® reward miles at three stages: when you request a quote; when you become a Manulife policyholder; and, on an ongoing basis, every six months, for as long as you remain a Manulife policyholder.

With FollowMe ™ health and dental plans, you can earn AIR MILES ® reward miles at three stages: when you request a quote; when you become a Manulife policyholder; and, on an ongoing basis, every six months, for as long as you remain a Manulife policyholder.

Loss of use (sometimes called additional living expense) coverage gives renters insurance policyholders financial protection and peace of mind in the event their rental home becomes uninhabitable.

Almost all policies will cover displacement costs if the policyholder's living situation becomes uninhabitable, though usually only for a limited period of time and up to a maximum cost.

All renters insurance policies cover a policyholder's personal property, gives them liability protection and offers loss of use coverage, in case a rental become uninhabitable.

They cover a policyholder's personal property, give them liability protection and pay for loss of use expenses, in case their rental home becomes uninhabitable.

1929 — Oregon Life becomes a mutual company, owned by its policyholders.

What really sealed the deal for me, however, is when Bill recounted what his father said when he questioned becoming a policyholder in his twenties.

He left the firm to become a solo practitioner, and a few years later, joined together with another solo practitioner who was a former colleague, to form a firm with a primary focus on insurance recovery for policyholders.

The main dangers of such an attempt are twofold: one could get carried away and draft legislation that is so protective of consumers that enacting it becomes unrealistic; and one could make it more expensive for insurers to distribute the relevant insurance, which would naturally result in policyholders having to pay higher premiums for the insurance.

Unlike term life insurance, which only covers a policyholder for a certain number of years, universal life insurance continues to cover a person thought their entire life, even in those later years as he becomes a larger and larger investment risk for the company.

MetLife's GLT coverage comes with a rider option called a Non-Convertible Disability Waiver of Premium, which waives all base premiums of the policy if the policyholder were to become disabled for at least six months.

Term life premiums INCREASE over the policyholders lifetime and become extremely cost prohibitive in the long term.

If an insurance company becomes insolvent (goes out of business), the association steps in to protect policyholders by continuing coverage and paying claims, up to defined limits.

Even so, it is possible for a policy to become misplaced, and it is important for policyholders to know what to do when such an event occurs.

The waiver of premium benefit can help to provide policyholders with peace of mind in that their family or their business will still be protected with life insurance, even if he or she was to suffer a long - term injury or illness or to become totally disabled.

Claim payments are made out to the policyholder, and you'll always be able to move your policy individually should it become necessary.

Policyholders can easily become subjects of lawsuits to recover expenses beyond those covered by minimum insurance.

Some policyholders can even choose to pay future premiums straight from the cash values in future years so that the policy becomes self - sustaining.

Critical illness insurance is a product in which an insurer will make a lump sum payment to the policyholder if the insured becomes diagnosed with an illness specified in the policy.

Then there's stranger - originated life insurance, in which someone with no personal or professional relationship to a policyholder can become the beneficiary of that person's life insurance policy.

In recent years, a number of insurance companies have become insolvent, leaving their policyholders with no coverage (or coverage only from a government - backed insurance pool or other arrangement with less attractive payouts for losses).

Roush added, «Based on information from consumers who became policyholders and provided data regarding their savings, they've seen savings of $ 600 or more on annual premiums.

While life insurance provides a death benefit if the policyholder passes away while the policy is in force, disability insurance provides coverage for ongoing needs if the insured becomes severely ill or injured and can no longer work.

The Vesting age is usually 18 years when the child attains majority and becomes the policyholder of the plan.

In some circumstances, yes, you can insure a vehicle you don't own, but it's difficult to become the primary policyholder on a car that's not yours — and it's extra tricky to get coverage if you don't live with the vehicle's owner.