Sentences with phrase «promised death benefit amount»

If the insured passes away during this period, the insurance company pays the promised death benefit amount.

Not exact matches

Seg funds are simply a special kind of mutual fund with three extra features thrown in (for a fee, of course): (1) A certain amount of creditor protection, as they are considered as insurance policies (2) Downside protection in the form of a promise to return 75 % to 100 % of capital in a certain number of years, usually ten and (3) a death benefit that allows the beneficiary to redeem the fund at the purchase price in the event of death within the 10 year period.

is a request for payment by the beneficiary for the amount promised as death benefit upon the insured

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.

You pay a monthly premium — typically about one fourth the cost of whole life premiums — in exchange for the promise that your life insurer will pay out a pre-set death benefit (also known as your «coverage» or «face amount») to your survivors (also known as «beneficiaries»).

In return, if you die while policy is in force, the insurance company promises to pay a death benefit amount to the people you've named as beneficiaries.

It promises to pay a certain amount as death benefit but deprives you from deriving the advantages of stock market investment.

It's simply the insurance company promising that after so many payments at a certain amount, they will guarantee a death benefit.

In exchange for the life insurance company's obligation to pay out your death benefit, also known as the amount you are insured or covered for, you promise to pay monthly, quarterly, or annual premiums.

The policy promises entire sum assured as a death benefit along with accrued bonuses regardless of the amount of survival benefit already paid.

In the event of the policyholder's death anytime during the policy term, the child / nominee receives the lump sum amount (death benefit) as promised at the time of purchasing the policy.