Sentences with phrase «specified amount of death benefit»

A specified amount of death benefit will be paid to the nominee immediately as death occurs.

Term life insurance offers a specified amount of death benefit for a specified term.

Not exact matches

If the beneficiary is a minor, another option is an «interest income» payout, which makes guaranteed payments toward the interest on the death benefit for a specified time — for example, until the minor comes of age — at which point the benefit amount becomes available to that beneficiary.

The property settlement agreement should specify the policy death benefit amount, the type of life insurance policy, what the policy is intended to secure, and who make the premium payments.

The death benefit of VUL policies may rise or fall, but it will not decline below the specified guaranteed amount.

Because the death benefit amount of your cash value life insurance policy may change over time as its cash value grows, make sure to specify a percentage of the proceeds to go to your beneficiaries rather than selecting a dollar amount.

Benefit: For life insurance, it is the amount of money specified in a life insurance contract to be paid to the beneficiary upon the death of the insured.

If you need or want to stop paying premiums, you can use the cash value to continue your current insurance protection for a specified time or to provide a lesser amount of death benefit protection covering you for your lifetime.

All approved claims will receive a payment guaranteed to be 40 % of the death benefit amount accelerated (for example, 40 % of $ 50,000 = $ 20,000), less any amounts needed for debt repayments — regardless of the type of specified medical condition event, policy age, gender or severity of illness.

The request for a benefit must specify the amount of the policy death benefit to be accelerated, subject to the terms in the rider.

Life insurance, meanwhile, generates an estate, diminishes the financial uncertainty of passing away too soon, grants the beneficiary a specified amount at death of the policyholder in exchange for a premium which is determined by sex, age, type of insurance, amount of death benefit and health.

If you need or want to stop paying premiums, you can use the cash value to continue your current insurance protection for a specified time or to provide a lesser amount of death benefit protection covering you for your lifetime.

The amount of death benefits is generally «capped» at a specified amount or percentage of the death benefits.

Life insurance companies are legally required to keep a specified amount of reserves on hand — capital that's available to pay out death benefits in a worst case scenario.

Like your traditional term life insurance, they are available to offer a specified, level death benefit and level premium for a given amount of time, chosen at the time of application.

Charitable Giving Benefit Rider: Selected at issue and available at no additional cost, this rider provides an additional benefit of 1 % of the base policy specified amount (up to $ 100,000) to the qualified charity of the policyowner's choice upon the insured'sBenefit Rider: Selected at issue and available at no additional cost, this rider provides an additional benefit of 1 % of the base policy specified amount (up to $ 100,000) to the qualified charity of the policyowner's choice upon the insured'sbenefit of 1 % of the base policy specified amount (up to $ 100,000) to the qualified charity of the policyowner's choice upon the insured's death.

Your total net death benefit will now equal the larger of the total specified amount less any indebtedness, the policy value multiplied by the appropriate attained age Guideline Premium Test corridor factor less any indebtedness, and $ 5,000.

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.

One option is a single premium insurance policy allowing the policyholder to deposit one lump sum, and then receive a specified amount of long - term care coverage if so needed, or to have their beneficiaries receive death benefit proceeds if the long - term care coverage is not used.

Life insurance carriers take on the financial obligation to pay a specified death benefit in return for premiums paid by policy owners for a set amount of time as defined by a life insurance contract.

If you choose multiple beneficiaries, you must specify what amount or percentage of the death benefit each beneficiary should receive.

Life stage protection: The option allows you to increase the basic sum assured at specified events of marriage and childbirth, without any medical tests: Marriage: The life insured can increase the death benefit by 50 % of the original death benefit, subject to a maximum additional amount of Rs. 50 lakhs 1st childbirth: The life insured can increase the death benefit by 25 % of the original death benefit, subject to a maximum additional amount of Rs. 25 lakhs 2nd childbirth: The life insured can increase the death benefit by 25 % of the original death benefit, subject to a maximum additional amount of Rs. 25 lakhs

The insurance company pays a specified amount of money / death benefit to the beneficiary of the insurance policy owner upon his death, as stated earlier in the policy agreement.

«Graded benefits» — if the insured person dies within a specified amount of time, they will only get a portion of the death benefit or a portion of their premiums paid will be returned

Non-payment of the requirement premium and changes to the specified amount or death benefit option may also damage the no - lapse guarantee feature.

Annuities typically offer tax - deferred growth of earnings and may include a death benefit that will pay your beneficiary a specified minimum amount, such as your total purchase payments.

The premiums you pay for this level amount of death benefit may also be level for the entire period, may be level only for a specified period, or may increase over time.

Most policies do guarantee some amount of death benefit, should the investments fall below a specified level.

Because the death benefit amount of your cash value life insurance policy may change over time as its cash value grows, make sure to specify a percentage of the proceeds to go to your beneficiaries rather than selecting a dollar amount.

It is simply a life insurance policy that will provide your beneficiary with a death benefit from accidental or natural death for a specified amount of time.

A type of policy that pays a portion (typically 25 \ % or 50 \ %) of the death benefits (the face amount of the policy, less any outstanding loans or fees) in case of a specified illness or medical emergency.

An agreement that guarantees the payment of a stated amount of monetary benefits upon the death of the insured, or under other circumstances specified in the contract, such as total disability.

Term life insurance is only a death benefit of a specified amount for a level amount of time, and the premium is extremely cheap for healthy individuals.

If a person dies in an accident and has taken Accident Death Benefit Rider then he will get the normal sum assured (plus accumulated bonuses if any) plus the amount specified under this rider as contracted at the time of taking the policy.

Section 10 (10D): The death benefit amount received under this policy by the family members of the life insured is exempt from tax, subject to conditions specified therein.

For example, if you caused an accident resulting in injuries, your auto insurer would pay for medical care under the liability portion of your policy.Life insurers, as the name implies, pay a specified, pre-agreed upon amount (called the death benefit or face amount) if you die while the policy is in force.

If the beneficiary is a minor, another option is an «interest income» payout, which makes guaranteed payments toward the interest on the death benefit for a specified time — for example, until the minor comes of age — at which point the benefit amount becomes available to that beneficiary.