Sentences with phrase «receive full death benefits»

You will automatically qualify for the policy, but it is the most expensive type available, there is usually a limit to the benefits placed on the policy, and your beneficiaries will not receive the full death benefits for a preselected period of time after it is put into effect.

In order to receive full death benefits, the insured must hold the policy for at least three years.

This means if you die within the first year or two of the policy (for example), you won't receive the full death benefit.

In addition, if you pass away during the first 2 years of coverage due to a non-accident, your beneficiary won't receive the full death benefit.

After two years, his beneficiaries will receive the full death benefit regardless of how he dies.

Just keep in mind that these policies come with a waiting period, or graded benefit, meaning your beneficiaries won't receive the full death benefit if you die soon after purchasing.

After two years have passed since buying the final expense policy, your beneficiaries will receive the full death benefit amount no matter what causes your death.

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).

If the insured never needs long - term care, the beneficiaries receive the full death benefit as they would with any typical life insurance policy.

Once the policy has matured, your family will receive the full death benefit.

If you die within the first two years after policy was issued, your death benefit will be limited to your amount of premiums plus 12 % per year, unless you die accidently in the first 2 years you will receive the full death benefit.

For those who don't know (anyone reading this site is probably pretty knowledgeable on the subject), you can borrow from your policy without touching your credit, earn dividends if it's a participating policy, pay it off in full early, and even receive the full death benefit while still alive if you make it past age 100.

Just keep in mind that these policies come with a waiting period, or graded benefit, meaning your beneficiaries won't receive the full death benefit if you die soon after purchasing.

If you purchase a long - term care hybrid policy and never actually need long - term care, most life insurance companies have set it up so that the money you've paid in for the rider will ultimately be rerouted to your regular life insurance coverage, and your beneficiaries will receive the full death benefit amount.

However, it is possible to receive your full death benefit during the waiting period.

If you never use the LTC rider, your life insurance beneficiaries will receive your full death benefit.

If the beneficiary sets a time to stop receiving interest payments and is alive when that time comes, they will receive the full death benefit of the policy then.

If the insured never needs long - term care, the beneficiaries receive the full death benefit as they would with any typical life insurance policy.

The new owner takes over premium payments and receives the full death benefit when the insured dies.

[2] The third party becomes the new owner of the policy, pays the premiums, and receives the full death benefit when the insured dies.

The chances are that you are going to outlive the 2 year period which will result in your beneficiaries receiving the full death benefit.

Hello Mr. Clark, With the vast majority of life insurance policies, if something happens to you, your spouse will receive the full death benefit from your policy.

If the insured person dies will the coverage is «in force», which is during the covered length of the term, the beneficiaries will receive a full death benefit.

What we mean by this is that it's always better to have an insurance policy with a 100 % guarantee that your loved ones will receive the full death benefit right away upon your passing.

There is a 2 - year waiting period to receive the full death benefit, and cost is determined by age when applying, so we highly recommend buying a policy asap to get the clock running.

Most GI policies have at least a 2 - year waiting period before the beneficiary can receive the full death benefit as a result of a death due to a medical condition.

Upon the viator's death, the third party who purchased the policy receives the full death benefit.

This means that the beneficiary will not receive the full death benefit if you were to pass within the first two years.

If you die during the «term» of your policy, your «beneficiaries» (people you choose) will receive the full death benefit from your life insurance policy tax free.

Therefore, even if you outlive the insurance, you will still receive the full death benefit upon your passing.

The third party becomes the new owner of the policy, pays the premiums, and receives the full death benefit when the insured dies.

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.

Although there is a two year waiting period for beneficiaries to receive the full death benefit and the cost of these policies are high, their premiums are guaranteed for life.

Not exact matches

By this he meant he must be raised up on his cross in death in order for the people to receive the full benefit of his ministry.

However, if John happens to die because of an accident unrelated to his health within those two years, his beneficiaries will receive the full $ 20,000 death benefit.

When Jane does die, John will receive the full $ 500,000 death benefit.

They also may feature graded death benefits, meaning you won't receive the full benefit amount if you die during an initial period of time (usually the first year or two of the policy).

College Education Benefit for Children and Spouse: Your beneficiary will receive 2 % of your accidental death benefit (up to $ 3,000 per year) for each of your children (and / or spouse) attending college full - time on the date of the acBenefit for Children and Spouse: Your beneficiary will receive 2 % of your accidental death benefit (up to $ 3,000 per year) for each of your children (and / or spouse) attending college full - time on the date of the acbenefit (up to $ 3,000 per year) for each of your children (and / or spouse) attending college full - time on the date of the accident.

The selling policyowner receives an upfront cash payment in exchange for transferring ownership of the life insurance policy — typically more than any existing cash value but less than the policy's full death benefit — and the investor as the new owner then continues to make the ongoing / annual premium payments.

When he dies he receives his full $ 500,000 in death benefit.

Here, the named beneficiary will not receive the full amount of the death benefit if the insured dies within the first two or three years that the policy is in force.

(If however, the insured remains alive for at least two more years, the beneficiary will receive the full amount of the death benefit after that).

If you die on active duty, SGLI will allow your family to receive an extra $ 150,000 payment up to the maximum allowed coverage of $ 400,000, so you have the option to pay for a lower coverage amount and still receive the full $ 400,000 death benefit depending on the circumstances.

Either way, if an unexpected death happens within the first 2 years, your beneficiaries will still receive a tax free benefit, it just won't be for the full amount.

The nominee can choose either to receive annuity payouts from the death benefit partly or in full or withdraw the lump sum amount

With a viatical settlement, a viatical settlement company buys your life insurance policy, gives you a percentage of the death benefit upfront, and then pays all the remaining premiums to become the sole beneficiary of your policy — receiving the full benefit when you die.

Once the initial two - year period has ended, the full amount of the stated death benefit will be received if the insured should die.

People who have a serious health problem may receive a policy with a «graded death benefit,» which means the coverage amount increases over time and your beneficiaries won't receive the full face value if you die within the first few years of the policy.

If you do die, your beneficiary will receive the full lump sum death benefit.

If you end up with a graded death benefit plan, this means you will not be receiving full payment within the first few years of the contract.