Sentences with phrase «specified in the life insurance policy»

Critical Illness Rider — this pays you a lump sum if you are diagnosed with one of the critical illnesses specified in your life insurance policy.

Not exact matches

Like Life Insurance policy, a health insurance policy is a legal contract between insurer and insured; in which insured pays premiums and in returns, insurer agrees to pay for medical expenses for a specified limit or sumInsurance policy, a health insurance policy is a legal contract between insurer and insured; in which insured pays premiums and in returns, insurer agrees to pay for medical expenses for a specified limit or suminsurance policy is a legal contract between insurer and insured; in which insured pays premiums and in returns, insurer agrees to pay for medical expenses for a specified limit or sum insured.

Universal life insurance policies, on the other hand, will often specify in the policy at what age it matures.

It's also different from whole life insurance in that it protects you for a defined and limited amount of time, which is specified in your policy.

All types of permanent cash value policies typically have a specified cash surrender period that must lapse before you can completely withdraw the cash value in the policy without paying penalties to the life insurance company.

These are different from paid - up insurance, however, in that the life insurance is only in force for the duration of the term specified in the policy.

Level Term Insurance: A type of term life insurance policy where the face value remains the same throughout the period specified in the insurancInsurance: A type of term life insurance policy where the face value remains the same throughout the period specified in the insurancinsurance policy where the face value remains the same throughout the period specified in the insuranceinsurance policy.

Incontestability Clause: A life insurance policy provision that states after the policy has been in force for a specified period of time, the company can not deny a claim based on a material misrepresentation made in the application.

When you assign contingent beneficiaries for your life insurance policy, make sure they're specified clearly in all paperwork.

This is essentially a term life insurance policy that lasts until you're 121, or a particular age specified in the policy document.

30 % of the part of an insurance policy premium (for a policy that is not a * whole of life policy or an * endowment policy) that is specified in the policy as being for a distinct part of the policy, if that part would have been a whole of life policy had it been a separate policy

However, if a policy does not specify a limitation period (or has a limitation period that is offside the Limitation of Actions Act), and the policy falls within the purview of the Insurance Act as a policy for life or disability insurance, an insured's claim will have a one - year limitation period as set out in the InsuraInsurance Act as a policy for life or disability insurance, an insured's claim will have a one - year limitation period as set out in the Insurainsurance, an insured's claim will have a one - year limitation period as set out in the InsuranceInsurance Act.2

Under the Family Law Act or the Divorce Act, a court can order a support payor to designate the support recipient as the irrevocable beneficiary of a life insurance policy to ensure funds exist at the time of the payor's death to satisfy his (or her) support obligations specified in the support order.

In India, the word term insurance refers to a policy that provides financial cover by assuring an amount for the life of a person who is the policyholder during a specified interval of his life (called the term).

A term life insurance policy covers the policy - holder up to the age specified in the contract.

Term life insurance is a type of life insurance policy in which the insured individual is provided with coverage for a specified period of time.

Should the policyholder die while a life insurance policy is in force, then the life insurance company will pay out the death benefits specified in the policy.

Whole life insurance: The most common type of permanent life insurance, in which premiums generally remain constant over the life of the policy and must be paid periodically in the amount specified in the policy.

Another thing to keep in mind when shopping for term life insurance is that the policy is in effect for only a specified period of time — known of course as the term.

Accelerated death benefit - An optional provision in a life insurance policy that provides for a specified percentage of the death benefit to be paid prior to the insured's death in the event a doctor certifies that the insured's life expectancy is limited (usually 12 months or less).

Waiver of Specified Premium - An optional life insurance policy rider that waives a specified premium on a traditional product for the length of a qualified disability as outlined in tSpecified Premium - An optional life insurance policy rider that waives a specified premium on a traditional product for the length of a qualified disability as outlined in tspecified premium on a traditional product for the length of a qualified disability as outlined in the policy

You see, term life insurance is called «term» because the policy (i.e. the contract between the owner and the insurer on the life of the insured) ends upon the specified timetable in the contract.

If a policy is renewable, this means the life insurance will continue to stay in force until the specified age listed on the policy which would be the anniversary of the end of the term period.

This differentiates the policy from a term life insurance policy, which is only in force for a specified period of time.

Unlike term insurance, which will expire after a specified number of years, whole life will remain in force until you pass away or reach 100, where the policy will pay out.

This is essentially a term life insurance policy that lasts until you're 121, or a particular age specified in the policy document.

In contrast, term life insurance policies provide protection for a specified term of one or more years.

In some cases, we will recommend a term life insurance policy where you can get a specified limit of life insurance for 10, 20, 30 years or longer.

In the case of a policy insuring the lives of debtors, a provision that the insurer will furnish to the policyholder, for delivery to each debtor insured under the policy, a certificate of insurance specifying that the death benefit will first be applied to reduce or extinguish the indebtedness.

Many term life policies do allow prorated refunds at some point during the life of the policy, during the insured's lifetime, although such refund is usually «short rated», that is, it is significantly less than the imputed value of the refund if calculated using conventional tables, using the rate of return specified in the insurance contract.

Individuals who obtain a term insurance policy enter into a contract with the life insurance carrier that guarantees a specified death benefit in exchange for a specified level premium throughout the term of the contract.

In contrast, to say a 30 - year term life insurance policy, which pays a death benefit only if the insured dies during a specified period of 30 years, a whole life policy provides for the payment of a death benefit regardless of when the death occurs in someone's lifIn contrast, to say a 30 - year term life insurance policy, which pays a death benefit only if the insured dies during a specified period of 30 years, a whole life policy provides for the payment of a death benefit regardless of when the death occurs in someone's lifin someone's life.

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 contrLife 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 contrlife insurance contract.

If the cash value in a contract exceeds the specified percentage of death benefit, the policy no longer qualifies as life insurance at all and all investment earnings become immediately taxable in the year the specified percentage is exceeded.

A 10 Year Term Insurance Policy is a type of short - term life insurance coverage that provides protection for a specified period of time, in this instance it would be Insurance Policy is a type of short - term life insurance coverage that provides protection for a specified period of time, in this instance it would be insurance coverage that provides protection for a specified period of time, in this instance it would be 10 years.

If a policy is «renewable,» that means it continues in force for an additional term or terms, up to a specified age, even if the health of the insured (or other factors) would cause him or her to be rejected if he or she applied for a new life insurance policy.

Term insurances are sort of life coverage plans that cover and protect you and your family but for a certain period of time specified in the policy.

Life insurance that remains in force during your entire lifetime, provided premiums are paid as specified in the policy.

A conversion provision allows the owner of the term life policy to convert from the term life insurance policy to a permanent life insurance policy during a specified period of time without having to show that the insured is in good health.

Convertible privilege: In life insurance, some term policies provide that they may be converted to permanent forms of insurance without medical examination or underwriting if conversion is made within a limited period as specified in the policIn life insurance, some term policies provide that they may be converted to permanent forms of insurance without medical examination or underwriting if conversion is made within a limited period as specified in the policin the policy.

Endowment policy: A life insurance policy in which the cash value and face value are equal to each other at the policy's maturity date; a policy under which the face amount is payable on a specified future date (maturity date) if the insured is then living, or at the insured's death, if that should occur sooner.

A provision in certain life insurance policies (also known as an accidental death benefit) that pays double the death benefit to a beneficiary if the insured dies in an accident or in another way as specified by the policy.

Increasing premium policies have premium structures in which the cost of the policy rises slightly each year, but as long as premium payments are made a life insurance company must provide coverage until a specified age.

Whole life insurance is a form of permanent life insurance that remains in force for your entire lifetime, provided premiums are paid as specified in the policy.

All types of permanent cash value policies typically have a specified cash surrender period that must lapse before you can completely withdraw the cash value in the policy without paying penalties to the life insurance company.

Under life insurance policy, in case the policyholder suffers from the critical illness or severe disability then under the specified sections of Income Tax Act, the 10 % 0f the limit is increased to 15 % if the policy is issued after 01.04.2013.

You want the insurance to repay a debt that will be paid off in a specified time period, buy a Term Life Insurance policy for thainsurance to repay a debt that will be paid off in a specified time period, buy a Term Life Insurance policy for thaInsurance policy for that period.

Renewable term life insurance is a policy that gives the policyholder the option to extend their life insurance coverage beyond the period specified in the insurance contract instead of buying a new policy.

Or you can buy a cheaper term life insurance policy that only provides coverage until you reach the age specified in the policy.

A rider is a part of a life insurance contract that specifies any special circumstances or changes you wish to make to your life insurance policy that are not allowed for in the traditional benefits.