Sentences with phrase «receive the full death benefit if»

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.

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.

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

Not exact matches

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.

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.

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).

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

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.

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 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.

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.

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.

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

What is meant by the graded death period is that your beneficiaries will receive a return of premium instead of the full death benefit, if you pass within 2 - 3 years of taking out the policy.

Even in case of death of the Life Assured, the Maturity Benefit will be payable if all Installment premiums due till date of death of the Life Assured have been received in full.

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.

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.

If your death is the result of a covered accident, your beneficiary will receive the full benefit you were approved for from day one.

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.

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.

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.

If you die the day the policy goes in force then your beneficiary would receive 100 % full death benefit payout.