Sentences with phrase «refund of the life insurance premiums»

Return of premium term life insurance (ROP) is a type of life insurance policy that offers a guaranteed refund of the life insurance premiums if you live longer than the term period.

ROP offers lower premiums and a guaranteed refund of the life insurance premiums paid during the term of the policy, provided the insured doesn't die prior to the end of the term period.

Not exact matches

A return of premium life insurance policy is one where, minus very negligible fees, your premium payments are refunded to you at the end of the term (assuming the death benefit hasn't been paid out, of course).

30 - Day Money - Back Guarantee If you are not completely satisfied with your CoverMe Term Life insurance policy, you may return your policy to Manulife within 30 days of the issue date to have your coverage cancelled and your entire premium will be promptly refunded.

This type of life insurance — premiums level for life and a refund of overpayment called a cash value if you cancel — is called «whole life insurance».

Return of premium term life insurance is the only type of term life insurance in which you get a refund of your paid premiums if you do not die during the term.

ROP may offer parents the opportunity to fulfill this life insurance support obligation and perhaps even get a full refund of paid premiums.

If you were to die during the first few years of the policy, most life insurance companies will generally issue a refund of your premiums to your beneficiaries in lieu of the actual death benefit.

(With certain types of life insurance, however, it may be possible to receive a refund for premiums paid or to take withdrawals from the policy.)

However, the committee didn't grant all aspects of the committee's request, including a recommendation for the province to pay interest on any retroactive salary increases and retroactive life insurance premium refunds, along with a professional allowance fund of $ 2,000 for each senior judge and $ 3,000 for an educational allowance.

You buy a level term life insurance policy, usually for 15, 20 or 30 years, and pay a higher premium, generally 25 - 50 % more, for the opportunity to get100 % or your premiums refunded at the end of the level term period.

Also, you're guaranteed a full refund of your first premium payment up to 10 days after receiving your term life insurance policy.

«Return of Premium» is a common feature in many term life insurance policies that provides a full or partial refund of the premium paid at the end of the coverage period if nothing was paid out on the policy during that time.

Term life insurance is also highly customizable with options to renew at the end of the term, refund premiums and more.

If you are not fully satisfied with your no exam term life insurance policy you may cancel at any time within the first month and receive a full refund of your first months premium payment.

If you do cancel a life insurance policy outside of a free look period, you will not get a refund of the premiums you paid.

Policy Dividend - a refund of part of the premium on a participating life insurance policy.

Life insurance with return of premium riders will refund 100 % of the premiums you paid into the policy if you live to the end of the term.

In exchange for a higher premium than a standard term life insurance policy for the same amount and term, a return of Premium term life insurance policy will refund the premiums you've paid after the term has expired.

The reason is because the policy accrues no cash value (except in the case of Return of Premium Term Life Insurance, where you can get a full refund for all the premiums you've paid at the end of the policy period).

Return of Premium Insurance in this case provides a refund for all or some of the premiums you paid for the Term Life Insurance at the end of the term if no death benefit was paid out during the coverage period.

Also, you're guaranteed a full refund of your first premium payment up to 10 days after receiving you term life insurance policy.

Return of Premium (ROP)-- is a type of term life insurance policy that allows for the refund of every premium paid at the end of the term period.

If you were to die during the first few years of the policy, most life insurance companies will generally issue a refund of your premiums to your beneficiaries in lieu of the actual death benefit.

A return of premium life insurance policy refunds premiums at the end of the policy term provided that the death benefit has not been paid out.

Since this is a refund of payments from the life insurance company, rather than a dividend or interest, the return of premium is not taxable.

The return - of - premium rider is a term life insurance rider that refunds the premiums paid by the insured if he or she outlives the term.

With a return of premium policy, you can still practice «buy term and invest the rest,» investing the $ 300 + dollars you're not putting into a whole life insurance policy each month and getting the premiums refunded.

In addition to higher premiums, insurance companies that issue guaranteed life policies protect themselves against risk in two additional ways: (1) by offering relatively low payouts, and (2) by typically not providing a death benefit during the first two years after issuing the policy (if the policyholder dies during this time, the company issues a refund of premiums instead).

If you are not satisfied with your life insurance policy for any reason, you may return it within 30 days of receiving your policy for a full refund of all premiums paid.

In most cases the full amount of premium that you have paid to the life insurance company will be returned in full and in some cases additional interested will be added on to the refunded amount.

Just think of a conventional affordable Term life insurance plan design with the incorporation of a special rider that is attached to the policy that pays back in the form of a refund any and all premiums you paid in since the policies inception when your policy first became effective.

Dividends are not deemed as taxable distributions, but a refund of a portion of the premiums paid for the life insurance policy.

But among the types of life insurance, one breaks out of that conventional wisdom: Return - of - premium life insurance promises to refund the money you paid if you don't die during the policy term.

If you disagree to any of the terms or conditions in the policy, you can cancel the life insurance policy within 15 days from the date of receipt of the policy document In such type of cancellation you are entitled to get a refund of the premium paid after deduction of the applicable charges In case of ULIPs, you can: Make partial withdrawals, Make fund switches, Make premium redirection For more information on our life insurance products, click here!

As a very general rule of thumb, expect to pay double your term life insurance premium but when your term expires, you'll be refunded all premiums.

This is a graded benefit whole life insurance policy, which means that during the first two years of policy ownership, the benefit for death of the insured by natural causes will be a refund of the premiums paid in, plus interest.

The return of premium rider can be a fantastic living benefit for an insured who outlives their policy and then receives a substantial refund of the premiums that can be used for any reason such as investing it in their retirement plan, paying off a mortgage, or buying additional insurance.

This type of life insurance — premiums level for life and a refund of overpayment called a cash value if you cancel — is called «whole life insurance».

The life insurance company has to invest your premium dollars so they may create a profit large enough to be able to afford to refund your money back after the term period if you outlive the policy and make some percentage of a profit in the process.

While term life insurance does not build cash value like whole and universal, there is a return of premium term life policy which refunds the premiums paid if the insured person survives the term.

Return of Premium (ROP) Life Insurance — A plan that requires the company to refund your premiums at the end of the coverage period, if the insured person is still alive.

ROP may offer parents the opportunity to fulfill this life insurance support obligation and perhaps even get a full refund of paid premiums.

Return of premium life insurance, also known as ROP life, is a type of term policy that refunds all your premiums at the end of the term period if you are still alive.

For example, if getting a refund for the premiums you've paid is important to you, paying a little extra for return of premium term life insurance might make sense.

Dividend: In a participating whole life insurance policy, the refund of that part of the premium paid at the beginning of the year which still remains after the company has set aside the necessary reserve and made deductions for claims and expenses.

When you buy return of premium term life insurance, you'll receive a full refund for all of the premiums you pay over the years if you're still alive when your insurance term ends.

A return of premium policy is a type of term life insurance in which you are refunded your premiums if you outlive your policy.

A life insurance company won't pay the full death benefit if a policyholder commits suicide within two years of the issue date, and the payout will only be a refund of the premiums already paid.

In the case of a reinstated Regular Pay or Limited Pay policy, if the Life Assured, whether sane or insane, commits suicide within 1 year from the date of reinstatement of the ICICI term insurance policy, the Company will refund 80 % of the premiums paid post revival till the date of death.