Sentences with phrase «receive the full death benefit amount»

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.

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.

Not exact matches

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).

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 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.

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

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.

The mortgage protection insurance your family receives as a «death benefit» will not be taxed; they will receive the full amount stated in the insurance policy, tax - free.

This «level death benefit» option assures your family will receive the full amount you insured for yourself and loved ones when you die.

If you die anytime during the term, your chosen beneficiary receives the full amount of the death benefit.

If, however, the senior insured dies after owning the policy for longer than two years, and then the beneficiary would be able to receive the full amount of the death benefit that is stated in the policy.

Should the insured live past the first few years of policy ownership and pass away after that, the beneficiary would be able to receive the full amount of the death benefit — even on a plan that contains the graded death benefit option.

That way, if your death benefit has grown, your children will receive the full amount you intended without additional paperwork and potential costs, which could include legal fees and court interaction.

However, if the policy has been owned for several years before the insured passes away, the named beneficiary (or beneficiaries) will receive the full amount of the policy's death benefit proceeds.

For example, should the insured pass away within the first two years that the policy is in force, the beneficiary (or beneficiaries) may only receive back a refund of the premium instead of the full death benefit amount.

If the insured person passes away before being insured for at least two years, your beneficiary will only receive a portion of the death benefits, not the full coverage amount.