Sentences with phrase «referred as death benefit»

Life insurance is referred as death benefit as it provides lump sum amount to the beneficiaries, upon insured's unfortunate death.

Not exact matches

This is why we often refer to term life insurance as «renting a death benefit» and highly recommend purchasing convertible term life insurance if you choose to go this route.

The Colonial Penn Life Insurance Company specializes in life insurance products that have small death benefits and limited underwriting, a class of products often referred to as final expense insurance.

Just like the guaranteed death benefit, the living benefit rider causes the variable annuity to morph into a different type of investment or what is commonly referred to as an immediate annuity.

It is commonly referred to as the Death Benefit.

This is commonly referred to as an Accidental Death Benefit.

On the down side, purchasing term life insurance, even for SBA loan purposes, can be rightly referred to as «renting a death benefit».

The death benefit can be used by the estate to cover lingering estate expenses, such as the medical expenses referred to in your example.

Face Amount — Could also be referred to as the Death Benefit, Policy Value, Payout Amount, Face, or Proceeds.

Guaranteed issue life insurance is sometimes referred to as a «last resort»; because the insurer really has no idea about what they're insuring, guaranteed policies are very expensive and the death benefits are usually less than what you'll get with other insurance types.

In fact, permanent insurance is often referred to as cash - value insurance because these types of policies can build cash value over time, as well as provide a death benefit to your beneficiaries.

This is commonly referred to as an Accidental Death Benefit.

While they are not all alike, most burial insurance plans — also referred to as final expense life insurance — will have death benefits that range anywhere from $ 1,000 up to $ 100,000.

In many ways, Final expense insurance — which is also oftentimes referred to as funeral insurance or burial insurance coverage — works like most other types of life insurance in that, in exchange for a premium payment, a death benefit will be paid out to a named beneficiary (or beneficiaries).

Level Premium Whole Life Insurance (sometimes referred to as «ordinary whole life») provides a lifetime death benefit and level premiums for the life of the policy (until the death of the insured).

It is commonly referred to as the Death Benefit.

Later, Ohio State Life was the first to advance death benefit payments to sustain the life of the policy holder (which is referred to as living benefits).

In fact, permanent insurance is often referred to as cash - value insurance because these types of policies can build cash value over time, as well as provide a death benefit to your beneficiaries.

Note that this is not necessarily the same as the actual death benefit payable Please refer to your policy's terms and conditions for additional information on the factors that may increase or decrease the actual death benefit payable, which may include loans taken or additional coverage purchased.

If you have an accelerated death benefit, referred to as a living benefit rider, you can receive a portion of the death benefit while you are living.

It is sometimes referred to as the death benefit.

Sometimes referred to as joint life insurance, this type of coverage offers death benefit payout either upon the death of the first insured or the death of the second.

The death benefit is referred to as the total amount of sum assured together with the bonus (if any) is paid to the beneficiary of the policy in case of any eventuality or uncertain demise of the policyholder.

When you buy a decreasing term life policy (sometimes referred to as mortgage life insurance), the death benefit is typically matched with the outstanding balance on your home loan.

Guaranteed issue life insurance is sometimes referred to as a «last resort»; because the insurer really has no idea about what they're insuring, guaranteed policies are very expensive and the death benefits are usually less than what you'll get with other insurance types.

These also are sometimes referred to as «accelerated death benefits» or «accelerated benefits riders.»

The fixed amount paid by latter to the former is referred to as the premium payment and the lump - sum amount paid to the nominee in the event of the death of the latter if referred to as the death benefit.

Option A is often referred to as a «level death benefit»; death benefits remain level for the life of the insured, and premiums are lower than policies with Option B death benefits, which pay the policy's cash value — i.e., a face amount plus earnings / interest.

This is the amount of money your beneficiary will receive when you pass away which is referred to as the death benefit.

Life insurance living benefits — also referred to as a policy's accelerated death benefits — can allow the policy holder to use some (or in some cases, even all) of the death benefit proceeds during his or her lifetime.

Personal Injury Protection (PIP) Also referred to as no - fault insurance, is available in certain states and pays medical expenses, and in some cases, loss of income, essential services, accidental death, funeral expenses, and survivor benefits, regardless of who is at fault in an accident.

The Accidental Death Benefit Rider is also referred to as the famous Double Indemnity rider which I am sure most everyone has heard of.

And, you select who is to receive the death benefit — That person (or persons) is referred to as the Beneficiary.

Living benefits can refer to what is known as an accelerated death benefit for a term or permanent life insurance policy.

A contingent beneficiary, also referred to as a secondary beneficiary, is simply the person named in your policy that will receive your life insurance death benefit should your primary beneficiary pass away before, or at the same time as you.

Often referred to as «pure life insurance coverage,» this type of insurance offers pure death benefit protection.

With both life insurance and key man life, there is a policy owner who makes premium payments to a life insurance company for the guarantee a specified amount of money, referred to as the death benefit, will be payable to the beneficiary.

Also referred to as «term insurance to age 100», lifetime guaranteed term insurance offers a fixed premium and death benefit for the life of the insured.

Final expense also referred to as funeral insurance or burial insurance coverage, is typically purchased by those who are between the age of 50 and 85, with the intention of having the death benefit proceeds used by loved ones for paying the cost of their funeral and other related final expenses.

Although term life has its uses, I've often referred to it as renting a death benefit.

Typically referred to as «no medical exam life insurance», this type of coverage will usually have a maximum death benefit of $ 250,000, depending on your age and the insurance company.

The death benefit can be used by the estate to cover lingering estate expenses, such as the medical expenses referred to in your example.

This is because some burial insurance policies have what is referred to as graded death benefits.

These non-medical policies, also referred to as guaranteed issue, are typically issued quickly and without any medical requirements, but have a waiting period before a full death benefit is paid if death results from natural causes.

Senior Life Plans Senior life insurance, sometimes referred to as graded death benefit plans, provides eligible older applicants with minimal whole life coverage without a medical examination.

This is referred to as accelerated death benefit.

Accidental death benefit riders are also referred to as «double indemnity» when the additional amount of benefit payout is equal to the original death benefit amount, causing your carrier to pay out double your original death benefit.

Portable allows you to continue the policy after you leave a job as long as you pay the premiums in full, level means your premiums do not increase, and term refers to the insurance being a death benefit only with no investment vehicle.

Universal life insurance, also referred to as «UL,» offers flexible premiums and a death benefit (money paid to the beneficiary after the insured's death).

This is often referred to as the death benefit.