Sentences with phrase «policyholder in the life insurance policy»

Not exact matches

The easiest and fastest way to claim the life insurance death benefit is to look for the physical copy of the policy in the policyholder's records.

In addition to covering the policyholder's funeral and burial costs, whole life insurance policies can be used to cover a wide range of other expenses, including:

Also, as permanent insurance, the cash value account in universal life grows tax - deferred and can be accessed by the policyholder in the form of loans or withdrawals, subject to any applicable policy provisions.

Mortgage life insurance is an insurance policy designed to pay off a policyholder's mortgage in the event of their death.

For those whole life insurance policyholders who have eligible policies, there is also the option of using dividends to help in paying some or all of the premium.

According to the blog post, many companies that provide this insurance have stopped selling new policies and will be issuing drastic price hikes to current policyholders, most notably in the form of gender - distinct pricing, which essentially penalizes women for having a life span that is on average five years longer than men.

A Life Insurance with Single - premium benefits is a type in which the premium is paid in lump sum to the policy to which in return death benefits are promised to be paid until the policyholder die.

In addition, although not guaranteed, these mutual that offer participating policies have life insurance dividends, that are paid to policyholders income tax free.

Unlike term, a permanent life insurance policy will stay in force, unless it is canceled by the policyholder or the premium stops being paid for the coverage.

Similar to whole life insurance, term life coverage provides a lump sum death benefit in the event that the policyholder passes away while the policy is still active.

The addition of this rider to the existing life insurance policy provides the policyholder an additional protection in case of an unfortunate accident.

Unlike a Participating Whole Life policy, the policyholder is not sharing in the surplus earnings of the insurance company.

Term life insurance is «pure» life insurance; the policyholder pays premiums and, if they die while the policy is in effect, their beneficiary (or beneficiaries) receives the death benefit.

Life insurance policy is a contract between the insurers or insurance provider wherein a lump sum amount is promised as a death benefit to the beneficiary in the event of the policyholder

Life insurance policy is a contract between the insurers or insurance provider wherein a lump sum amount is promised as a death benefit to the beneficiary in the event of the policyholder's death, provided the policy was active and the premiums were paid till the insured's death.

In addition, due to the variety of investment options, variable life can provide insurance policyholders with the opportunity to grow the funds that are in the cash portion of their policIn addition, due to the variety of investment options, variable life can provide insurance policyholders with the opportunity to grow the funds that are in the cash portion of their policin the cash portion of their policy.

The suicide of a policyholder after the first policy year of any life insurance policy issued by any life insurance company doing business in this state shall not be a defense against the payment of a life insurance policy, whether said suicide was voluntary or involuntary, and whether said policyholder was sane or insane.

In India, the word term insurance refers to a policy that provides financial cover by assuring an amount for the life of a person who is the policyholder during a specified interval of his life (called the term).

In other words, the life insurance policy is purchased as an investment vehicle rather than to assist the beneficiaries of the policyholder.

Life Settlements - a contract or agreement in which a policyholder agrees to sell or transfer ownership in all or part of a life insurance policy to a third party for compensation that is less than the expected death benefit of a polLife Settlements - a contract or agreement in which a policyholder agrees to sell or transfer ownership in all or part of a life insurance policy to a third party for compensation that is less than the expected death benefit of a pollife insurance policy to a third party for compensation that is less than the expected death benefit of a policy.

In addition, policyholders, based on their life circumstances, may modify their policies between how the premium amount is allocated between the insurance benefit and savings account.

If the policyholder makes it past the initial two - year waiting period, the benefits stated in the policy will go into full force and the beneficiary will receive the amount listed on the life insurance.

In addition to paying required premiums, universal life insurance policyholders can also pay in additional funds to increase the cash value of the policIn addition to paying required premiums, universal life insurance policyholders can also pay in additional funds to increase the cash value of the policin additional funds to increase the cash value of the policy.

A universal life insurance policy is similar to a Whole Life policy, with the exception of less policyholder participation in how the premiums are invested in money market fulife insurance policy is similar to a Whole Life policy, with the exception of less policyholder participation in how the premiums are invested in money market fuLife policy, with the exception of less policyholder participation in how the premiums are invested in money market funds.

Both the indexed universal life insurance and the term life insurance policies typically include an accelerated death benefit so that a large portion of the death benefit can be paid to the policyholder in the event of a terminal illness.

In general, life insurance policies are cheapest among policyholders who are unlikely to use their coverage.

While a younger policyholder may have less money to invest in a policy, he or she can opt for a term plan instead of whole life insurance to avoid added costs.

In this type, the insurance company agrees to pay a death benefit payout equal to the policy amount throughout the policyholder's life.

Universal life insurance is a type of life insurance policy that allows the policyholder to alter the policy in response to life changes, by merging the benefits of term life insurance with those of a savings account.

As with whole life insurance, the cash value in a universal life (or UL) policy can grow on a tax - deferred basis, and the money in this component of the policy may be withdrawn or borrowed by the policyholder for any reason.

If, however, the policyholder chooses to do so, he or she can either borrow or withdraw the money that is in the cash value component of a burial insurance policy — and they can do so for any reason, such as paying off large debt obligations, supplementing their living expenses in retirement, or even for going on a cruise or taking a vacation.

Death benefits are the way in which annuities and life insurance policies compensate those close to or dependent upon the deceased policyholder for the costs associated with death (e.g. funeral expenses) and potential loss of income.

In many cases a whole life insurance policy will provide some sort of cash value — although that cash value is likely to be far less than the death benefit that would accrue if the policyholder were to die.

In order to maintain life insurance coverage the policyholder must embark on a new term life policy.

In this case, policies can be converted to universal life insurance coverage — and if the policyholder opts to do this, the new universal life insurance policy will be issued at the same underwriting class as the existing term plan.

The main purpose of the legal reserve is to provide lifetime protection, but because more money is collected in premiums in the early years of a policy than is needed to cover the mortality charge, level - premium policies develop a cash value, which the policyholder can borrow against, or can surrender the policy for its cash value if the policyholder no longer wishes to continue the life insurance policy.

Unlike whole life insurance policies, which are designed to remain in effect for a policyholder's entire life, term life insurance policies expire after a pre-determined time period.

For instance, a life insurance policyholder may be able to access some of the cash value to meet their immediate needs while keeping the policy in force for beneficiaries.

The fixed indexed universal life insurance policy allows the cash component to experience growth that is based on an underlying market index, such as the S&P 500 — yet, in times of a market downturn, the policyholder won't lose value in their cash component.

In some cases, the policyholder needs may exceed the total benefit of the life insurance policy.

Unlike a Participating Whole Life policy, the policyholder is not sharing in the surplus earnings of the insurance company.

Most life insurance policies will deny a claim if the policyholder committed suicide in the first two years of the policy.

Should the policyholder die while a life insurance policy is in force, then the life insurance company will pay out the death benefits specified in the policy.

Life insurance is an agreement between the policyholder and the insurance company to provide a predetermined amount to the policyholder's dependants in case of the holder's demise during the term of the policy.

The policyholder determines the amount of life insurance coverage required and pays the life insurance company a premium to keep the policy in force.

Sagicor's fixed indexed single premium whole life insurance policy can allow the policyholder to reposition certain low - interest producing assets such as CD's (certificates of deposit), or money markets — and possibly even a fixed annuity — and obtain the opportunity to earn a higher return on the cash value in the policy.

With multiple fields of supplemental insurances, namely, accident, disability, health, and even life policies, policyholders don't have to worry in case they decide to inquire and acquire a new plan.

One type of policy that allows the policyholder the ability to take part in the potential growth of the equity market is variable life insurance.

A Life Insurance Policy is essentially a contract between an insurance holder and an insurance company wherein the parties agree to certain conditions which provide the policyholder a lump - sum amount of money in case of his / hInsurance Policy is essentially a contract between an insurance holder and an insurance company wherein the parties agree to certain conditions which provide the policyholder a lump - sum amount of money in case of his / hinsurance holder and an insurance company wherein the parties agree to certain conditions which provide the policyholder a lump - sum amount of money in case of his / hinsurance company wherein the parties agree to certain conditions which provide the policyholder a lump - sum amount of money in case of his / her death.

Variable Universal Life Insurance (VUL) is a permanent type of Life Insurance combining the essential features of Variable Life Insurance and Universal Life Insurance, thus allowing the policyholder to allocate premiums to different investment options, to build up cash value and to determine when and how much you invest in your policy.