Sentences with phrase «termination of the policy usually»

Buying a life insurance policy is a long term commitment and early termination of the policy usually involves high costs and the Surrender Value payable, if applicable, may be less than the total premiums paid.

Not exact matches

Information often included: • Basic nonprofit information: organization name, number of directors and term limits, type of incorporation and amendment procedures • Meeting details: location of meeting, how often meetings occur, procedures to call special meetings, how meetings are announced and quorum size (minimum number of people required for meetings) • Board of directors information: director qualifications, term limits and attendance requirements, removal procedures, definitions of roles and conflict of interest policies • Membership information: eligibility requirements, dues, voting rights of members, and quit or termination procedures Erring on the side of simplicity usually is the best way to start.

If a permanent policy is purchased they usually cease payment or make the employee take over payments on the policy at date of retirement or termination, but every company has it's own policy in terms of compensation.

Termination of an insurance contract before the end of the policy period, by the insured or insurer, usually in accordance with provisions in the contract.

Also, upon termination of employment, the employee usually does not convert their term life coverage to a permanent life insurance policy, because the premiums are much higher.