Sentences with phrase «receive a full death benefit until»

In addition to the higher premiums, one of the main drawbacks to a guaranteed issue life insurance is that your beneficiaries wouldn't receive a full death benefit until your policy has been in force for a specific length of time (typically between one or two years, depending on the life insurance company).

Not exact matches

What this means is that policyholders will only receive a percentage of the death benefit for the first three years the policy is owned — until the policy reaches full or level benefits at year three.

So, the pig would bail them out and take over ownership of the policy and keep it in force until the insured's death, netting a 100 % profit when they received the full death benefit.