Sentences with phrase «policyholder faces death»

This rider is only for the supplementary sum assured in case the policyholder faces death due to accident.

Not exact matches

An accelerated death benefit allows a policyholder to receive an advance of the face amount if diagnosed with a terminal illness and given less than twelve months to live.

Upon the policyholder's death, usually the insurer pays the face value of the death benefits for whole life insurance policies.

If your income increases, you may need to review the face value (the amount paid to beneficiaries at the policyholder's death) of your life insurance policy.

At the core of combined coverage plans is the life insurance policy, with a designated face amount that will provide the policyholder's beneficiary with an income tax free death benefit.

Then, the addition of a qualified long - term care rider will allow the life insurance contract to be accessed for living benefits by paying down the face amount of the death benefit when the policyholder qualifies for long - term care benefits.

The companies provide early payouts to the policyholder, assume the premium payments, and collect the face value of the policy upon the policyholder's death.

With these term life insurance plans, a policyholder can obtain coverage with death benefits as low as $ 25,000 and a maximum face amount of $ 999,999 — and there is also the option to obtain a policy without the need for a medical exam for policies of up to $ 249,999.

on life insurance policies release a sizable chunk of the policy's death benefit to the policyholder while he / she is still alive, allowing the usage of the death benefit funds on valid diagnosis of one of the critical or terminal illnesses stated in the policy.These riders» critical / terminal illness payout is tax - exempt, and beneficiaries also receive the left over face value, untaxed, upon the policyholder's passing.

These riders pay out double or triple the policy's face value amount, if the policyholder's death occurs

and are increasing in popularity because if these riders go unused, there is no loss of premium - the premiums are returned if the policyholder passes away before a specific age, and the beneficiaries are still entitled to receive the life insurance policy's face value in the event of the policyholder's death.

In the absence of this rider, if the policyholder is disabled or faces income loss due to which premiums can not be paid, the policy will expire and no death benefit will be paid due to non-payment of due premiums.

Another benefit of a whole life insurance policy is that your premium never changes once the policy is written, unless the death benefit amount (face value) is increased by you, the policyholder.

The death benefit that an insurance policy provides is meant to replace income so that the policyholder's family is less likely to have to face a major lifestyle change in addition to dealing with the loss of someone who is very important to them.

The cons whole life insurance policyholders face is the decrease in the death benefit or face value in slow economic times or if a loan is made against it.