Sentences with phrase «policyholder pass»

Should a life insurance policyholder pass away, a life insurance policy can provide financial support for your beneficiaries with a death benefit.

Should a policyholder pass away during that term, his beneficiary receives the total death benefit as a tax - free payout.

Should the policyholder pass away within the time period specified in the policy, the beneficiary receives the benefit stated within the policy.

This includes riders that can increase the overall benefits of the policy should the policyholder pass away due to specific causes.

For instance, should a policyholder pass away within the first year of coverage, the beneficiaries may only receive what was paid in premiums.

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.

When the policyholder passes away, the entire death benefit — which includes insurance, all transferred annuity funds and compounded market interest credits (less fees, spreads, withdrawals or any policy loans and interest)-- pass to beneficiaries completely income tax free.

Coverage Amount — The face amount of a policy to be paid to a beneficiary after the policyholder passes away.

When the policyholder passes away, the insurance coverage amount is paid to the beneficiary.

The money goes toward a fund that has death benefits set for a beneficiary, which can provide financial protection for families after the policyholder passes away.

A death benefit is simply paid out to the beneficiaries when the policyholder passes away.

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.

If the main policyholder passes away, the policy will continue for the partner and future premiums will be waived off.

Assessed meticulously, one will be able to afford the plan such that the family will have sufficient funds in the unfortunate event of the policyholder passing away to continue living comfortably.

Wherein, if the policyholder passes away, 100 % of the purchase price net taxes and cesses are received by the person you nominated.

In difficult economic times, people need to know that their insurance companies will be able to pay their beneficiaries the money they wanted them to have should the policyholders pass away.

If, during the policy term the policyholder passes away, the nominees receive a Death Benefit that takes care of their financial needs in the absence of the policyholder.

For instance, if the policyholder passes away within the first year of purchasing the policy, payout could be only 40 %.

Coverage could end before policyholders pass away, since this is a temporary form of life insurance that does not last a lifetime.

If the policyholder passes away, the nominee gets the full sum assured; if the policyholder survives until the end of the term, he / she receives the balance sum assured (after deducting the regular payouts).

If the policyholder passes away after the policy has matured but before they have turned 80 years of age, the nominee receives 100 % of the Sum Assured.

A critical reason to purchase life insurance is to ensure that one's dependents, i.e. parents, spouse and children, receive a lump sum or a regular monthly income that will guarantee their financial security, in the unfortunate event that the policyholder passes away or gets disabled (thus putting a stop to his / her income).

A little while back, I posted about how California is investigating John Hancock for turning a blind eye to when life insurance policyholders pass away, thus escaping the duty to pay the death benefit.

The policyholder would then name the settlement company as the beneficiary of the policy, and the company would collect the death benefit after the policyholder passed away.

The beneficiary gets a lump sum of money in the event that the policyholder passes away during the term.

If the policyholder passes during that 60 day period his beneficiary won't get the death benefit.

Take note of when your policy expires, though — a term policy might expire before the policyholder passes, leaving your spouse financially exposed.

The only case where term life insurance would result in cash would be if the policyholder passed on, and then the death benefit would go to the beneficiary tax - free.

Instead, it is the beneficiary (or beneficiaries) who is protected when the policyholder passes away.

The sum assured is splurged when any of the two policyholders passes away and the tenure of the policy lapses.

Accidental death: If the policyholder passes away in an accident, the nominee receives a lump sum called the Accident Cover.

If the policyholder passes away unexpectedly, a term life insurance policy offers a death benefit to the beneficiaries mentioned in the policy.

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.

A higher life cover / sum assured translates to a higher risk for the insurance company in the unfortunate event that the policyholder passes away while the policy is in force.

The plan will pay out a death benefit as long as the policyholder passes away while the policy is in force.

An immediate claim payout means that an insurance claim can be submitted even if a policyholder passes away immediately after getting a life insurance policy.

c) When the policyholder passes away and the beneficiary submits a death claim, the claim payout is completely exempt from tax.

A loss of life advantage is provided to the nominee if the policyholder passes away.

Second death insurance (also known as dual - life insurance, survivorship policy, and second - to - die insurance) is a type of life insurance policy that only pays the death benefit when both both of the joint policyholders pass away.

Any amount left over is paid out as a death benefit to the named beneficiaries when the policyholder passes away.

Death Benefit: If the policyholder passes away before the end of policy term, the sum assured shall be paid to the nominee

A regular life insurance policy pays the benefits to a beneficiary after the policyholder passes away.

When the policyholder passes on, the beneficiary is given the proceeds.

In case the policyholder passes away due to an accident, the policy's nominee receives the death benefit, as per this rider.

Term life insurance is most often purchased to make sure that a specific debt or event will be paid for even if the policyholder passes away.

Not exact matches

Every New Yorker who pays for home, auto or business insurance would foot the bill: In the event of PRI's demise, its unpaid claims would be paid by the state's insurance company guaranty fund, with the cost ultimately passed on to policyholders statewide.

Life insurance policyholders pay a premium and elect a beneficiary who will be eligible for payout if they pass away.

Variable annuity policyholders might be hesitant to cash in their account for fear of losing the higher value that might be passed on to their beneficiaries at passing.

As a policyholder you may have built up enough wealth, that you may have reached a point of self - insurance, this means that there is no longer a need for an insurance policy to be passed you're your beneficiaries.

They pass them on to the policyholders.