Sentences with phrase «premiums during the coverage period»

Term policies also sometimes give the owner the option to renew the policy without any underwriting after the term expires, though this is much more expensive on an annual basis than previous premiums during the coverage period in order to account for the adverse selection inherent in the pool of people who choose to renew a policy without underwriting.

Not exact matches

People often get a 90 - day or a 100 - day waiting period because it lowers their premium, but you could end up paying thousands of dollars during the time you're waiting for coverage to start.

At certain points during the period of coverage, you can convert your term policy to a permanent life insurance policy (such as a whole life insurance policy or universal life insurance policy) and premiums are determined by your original health rating.

Insurers typically have a period of a few years during which they can cancel coverage if they found you falsely responded to any underwriting questions, and you'll forfeit all premiums paid up to that point.

The monthly premium for Part B is $ 104.90 for 2016 and if you don't enroll during the initial sign - up period you will have to pay an enrollment penalty that will stay in place as long as you have Part B coverage.

A Term Life policy offers coverage only if death occurs during a specific period of time, which coincides with the terms in which the insured member is required to make a monthly premium.

As a result, universal life insurance premiums are typically lower during periods of high interest rates than whole life insurance premiums, often for the same amount of coverage.

In case the insured dies during the grace period, the insurer is liable to pay the death benefit (coverage amount) to the beneficiary named in the policy, less any amount outstanding (including the unpaid premium).

«Return of Premium» is a common feature in many term life insurance policies that provides a full or partial refund of the premium paid at the end of the coverage period if nothing was paid out on the policy during that time.

This means that until the waiting period has ended, if the policy holder passes away during this time the benefits will only be whatever premiums have been collected or a fraction of the benefit coverage.

By consolidating a large amount of premium during a short period of time, the coverage can be paid - up for life, without the need to worry about making any additional premium payments in the future.

Because term life insurance only pays out if the policyholder's death occurs during the term of their coverage period, policy premiums are generally lower than whole life insurance.

Industry experts have long observed that the property / casualty insurance industry is cyclical in nature, with periods of soft market conditions, during which premium rates are stable or falling and insurance is readily available, followed by periods of hard market conditions, where rates increase and coverage may be more difficult to find.

Return of Premium Insurance in this case provides a refund for all or some of the premiums you paid for the Term Life Insurance at the end of the term if no death benefit was paid out during the coverage period.

During this period, coverage and premiums are guaranteed to remain level.

Many people prefer term life because the premiums tend to be low and because it provides affordable coverage during the period of one's life when it is most necessary.

If you purchase and your health deteriorates, you now have guaranteed coverage during the term period that will stay inforce as long as you keep paying your premiums and your family is protected.

During this period, if he / she is not satisfied with the policy, then the policy can be returned back to the respective company, who is bound to refund premium amount that has been paid, subject to the deductions like stamp duty that has been paid on the policy, premium for the number of days coverage has been given.

Like the ICICI plan the premium for this plan is slightly higher than the usual market rate, however in case of untimely death of the insured during the coverage period, the sum assured will be paid out in full to the beneficiary.

(iii) If a qualified employer is terminated due to lack of premium payment, but within 30 days following its termination the qualified employer requests reinstatement, pays all premiums owed including any prior premiums owed for coverage during the grace period, and pays the premium for the next month's coverage, the Federally - facilitated SHOP must reinstate the qualified employer in its previous coverage.

Term life policies provide coverage for a set number of years — and usually, during this time period, both the proceeds and the premium due will remain the same.

Meanwhile, the insurance company, while collecting your premium, will not have to worry about paying your beneficiaries death benefits if you die outside of term life insurance coverage or during a period of policy lapse.

If they do not pay their premiums in full during the 90 day grace period, then their coverage may be cancelled back to the last day of the first month of the grace period.

This means that, even though the premium does not have to be paid during this period of time, the life insurance coverage will still remain in force.

If you fail to enroll in a Medigap plan during your open enrollment period, insurance companies can deny you coverage or increase your monthly premium based on your medical history or current health.

During your Medigap open enrollment period, insurance companies can not deny you coverage or charge more for your monthly premiums based on any preexisting health conditions you might have.

If you fail to enroll in a Medicare Supplement Insurance plan during your open enrollment period, however, insurance companies can deny you coverage or increase your premium based on your medical history or any preexisting conditions.

During your open enrollment period, insurance companies can not use medical underwriting to influence your coverage eligibility or monthly premium.

The court also held that because the insurer had previously accepted 22 premium payments during the grace period (a short period of time after the premium due date during which an insurer will still provide coverage if a premium payment is made) did not mean that it had waived its right to terminate the policy in this case, because the grace period had expired.On the 22 prior occasions, the payment was made during the grace period, but again, in this case, it had expired.

Depending upon the number of miles you have driven your vehicle during the initial coverage period, you may be required to pay additional premiums if you went over your initial mileage estimate.

Among life insurance plans, term insurance provides the highest life insurance coverage for the lowest premiums during the period of the plan.

During the period that is selected, the life insurance coverage will remain level, and the premium will stay the same.

A Term Life policy offers coverage only if death occurs during a specific period of time, which coincides with the terms in which the insured member is required to make a monthly premium.

Typically, these policies will offer guaranteed coverage during the level term period, as well as a level amount of premium that can not be increased.

Insurers typically have a period of a few years during which they can cancel coverage if they found you falsely responded to any underwriting questions, and you'll forfeit all premiums paid up to that point.

The longer the length of coverage, the more expensive the annual premium generally is because the risk of the insured person passing away during the coverage period increases with time.

Typically with universal life insurance, your premiums will be lower during periods of high interest rates than with whole life insurance, for the same amount of coverage.

The return of premium feature will generally provide for a refund of all or some of the premiums you paid for the term insurance at the end of a level term period or at end of the term coverage period if no death benefit was paid out during that period.

For a claim to be valid premium payments must be made timely, and any claim must be filed during the specified coverage period.

EARNED PREMIUMS — The portion of the total premium amount corresponding to the coverage provided during a given time period.

Grace Period: In case the premium is not paid on the premium due date, a grace period of 15 days is given to insured and during grace period coverage is not appliPeriod: In case the premium is not paid on the premium due date, a grace period of 15 days is given to insured and during grace period coverage is not appliperiod of 15 days is given to insured and during grace period coverage is not appliperiod coverage is not applicable.

God forbid, in the unfortunate event of your demise during the policy coverage period, your nominee would be paid ten times the annualized premium or 125 % of the Basic Sum Assured along with simple vested reversionary bonuses and additional final bonus.

If the death occurred during the excluded period, the premiums the employee paid for the coverage would typically be returned to the beneficiary.

The length of time, specified in the language of the written policy, during which an insured policy holder can repay an overdue balance against the policy premium while still keeping their renters insurance coverage in force during that period of time.

The coverage provided by a life insurance policy is In Force during the policy period if the premiums owed for the coverage are paid up - to - date.

Unlike regular term policies, return of premium term life insurance rewards you for keeping the policy by giving a guaranteed return of your total cumulative premium paid on the policy during the level term period, not including substandard (extra charges for health) and rider charges (extra benefits such as disability coverage), if any, which will be paid to the policy owner at the end of the level term period if the policy is then in force.

Retain 85 % of policyholders during annual renewal period, process applications, endorsements, cancellations and claims, prepare necessary paperwork to process renewals, pursue continuing education and training programs to continue professional development, managed approximately 200 policy renewals each year, research coverage and premium options and supply clients with the best coverage available, promote client retention through high - quality service and follow through, present account proposals in a professional and timely manner.

Retain 85 % of policyholders during annual renewal period, process applications, endorsements, cancellations and claims, prepare necessary paperwork to process renewals, pursue continuing education and training programs to continue professional development, managed approximately 360 policy renewals each year with premium of approximately $ 1,820,000, research coverage and premium options and supply clients with the best coverage available, promote client retention through high - quality service and follow through, present account proposals in a professional and timely manner.