Sentences with phrase «policyholders outlive»

The reason term insurance is so inexpensive is that most policyholders outlive the term, convert the policy to permanent insurance, or simply cancel it when the debts they are insuring against have been paid.

Even so, most term life policyholders outlive their contracts and forfeit any premiums that they paid to keep them in force.

If the policyholder outlives the term of the policy, however, the beneficiary will not receive a death benefit.

If the policyholder outlives the term of their policy and decides they want to renew it, the monthly premium will likely increase.

If the policyholder outlives the term of the policy, no death benefit is paid to their beneficiaries.

If the policyholder outlives the policy, the policy expires and the policyholder stops making premium payments.

This term insurance plan not only aims at making life financially more secure for the family of the policyholder but also provides the advantage of earning back the premiums if the policyholder outlives the policy term.

If the policyholder outlives the term of their policy and decides they want to renew it, the monthly premium will likely increase.

If the policyholder outlives the term of the policy, no death benefit is paid to their beneficiaries.

Here's the rub with standard term life insurance: If the policyholder outlives the 20 - year term, the contract expires and the insurance company keeps the premiums.

If the policyholder outlives the entire policy term, they gets the Maturity Benefit, which is equal to the Fund Value as on the date of maturity.

If the policyholder outlives the term, 100 % of the premiums paid over the course of the policy are refunded tax - free to the policyholder at the end of the term.

If the policyholder outlives the duration of the LIC Bima Bachat policy, he / she receives the entire single premium (excluding extra premium) along with loyalty additions, if any, at the time of maturity.

A pre-specified amount is paid if the policyholder dies during the term of the plan, called the «Sum assured» A term insurance plan differs from a traditional Life Insurance Policy in the way that no Maturity Benefit is provided if the policyholder outlives the term of the policy.

With standard term life insurance, if the policyholder outlives a 20 - year term — or the life of that policy — the contract runs out and the insurance company simply keeps the premiums paid.

If the policyholder outlives the term, then he / she will have to forgo the premium paid.

The return of premium rider allows the policyholder to collect all premiums paid into the policy if the policyholder outlives the policy period (typically 20 or 30 years).

There are some exceptions... for instance, «return of premium» term life insurance returns all money paid in if a policyholder outlives the coverage.

Not exact matches

Annuities are intended to create a stream of income policyholders can never outlive.

This policy allows policyholders to have their premiums returned to them if they outlive their coverage term, and also allows them to access cash value during the life of the policy.

Return of premium life insurance exists to mitigate the disappointment that many traditional term life policyholders feel when they realize that they've outlived their policies and spent thousands of dollars that can't be recovered.

There have been many studies done to find out how many term policies actually pay out benefits to policyholders, and the estimates have been as low as 1 percent of policies paid out benefits since people outlived their term or canceled the policy before the term was up.

A life insurance policy is not for you, the policyholder, it is for your loved ones who may outlive you.

A return of premium policy can can help a policyholder feel better about their purchase by providing a financial return if you outlive the policy — a win - win.

These policies may also provide options for the policyholder to access tax - deferred cash value without penalty — and you may also be able to convert cash values to annuities to provide an income stream that you can not outlive.

The product guarantees return of life cover charges on maturity of the policy as a reward to the policyholder, for outliving the maturity period and achieving life goals.

In truth, the name sums it up very well because, when this rider is included in a term life policy, it will see all of the premiums paid returned to the policyholder if they outlive the policy.

As is also the case with normal term life insurance policies, policyholders of return of premium life insurance policies often outlive their loan terms.

The Return of Premium rider allows for the insurer to return all premiums paid for the insurance policy to be returned to the policyholder if they outlive the term of the policy.

The return of premium rider allows for the policyholder to collect a refund of all paid premiums if they outlive the term of the policy.

For example: If a 10 - year term life policy is purchased for $ 50 per month, and the insured outlives that time period, with this rider, the policyholder would have up to $ 6000 in premium returned.

Either way you will always get some payout on death benefit, while under a term life insurance policy, the possibility always exists that the policyholder will outlive their policy, and lose all of the money the paid in.

A plan in which the amount is paid to a policyholder if he outlives the tenure of the contract or to the beneficiary if the insured person dies before the date on which the policy matures.