Sentences with phrase «receive the full death benefit of»

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.

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.

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.

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).

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).

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.

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.

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 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.

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.

Many surviving spouses with young children elect to receive death benefits as an annuity to ensure a long - term income and avoid having to work full - time outside of the home.

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

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

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.

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.

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.

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.

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.

In the event of accidental death on a plane, bus or train that was paid for with the credit card, the survivors of the cardholder receive the full benefit.

We say that because they are one of very few companies that will allow you to say yes to some of their health questions and still receive a full day one 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.

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.

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.

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.

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.

Under this form of the one - year term option, the insured's designated beneficiary can receive a death benefit equal to the full face value of the underlying policy.