Sentences with phrase «then death benefit pay»

a) Death before date of commencement of risk: If the death of the policyholder occurs before the date of commencement of risk then death benefit pay - out will be return of single premium excluding service tax and any extra premium paid without interest.

If the policy holder gets murdered and the insurance company's investigations reveal the nominee has murdered or is involved in the crime then the death benefit pay - out will be rejected or withheld until such a time that the charges are dropped and acquittal is given.

Not exact matches

If the applicant was not healthy enough to meet the underwriting criteria then the policy would be declined, and no death benefit paid.

Take life insurance as an example: you pay for a policy, and if you die during the term then that money (the death benefit) goes to the person you named as your beneficiary on the policy.

A) Both policyowners would need to pay extremely high premiums to make up for the money the life insurance company would lose in death benefit payouts, or B) the life insurance company would go bankrupt with both policyowners paying such low premiums and then no families would receive death benefits.

The Secret Asset presents a Grandpa that pays $ 938k in premiums over the course of 10 years, and then dies to provide a $ 4 million tax - free death benefit to his heirs.

If no long - term care benefits are paid, then the policy pays out the full death benefit when the insured person dies.

If your mom lives for at least two years, then the full death benefit of the policy will pay out.

If your grandmother has also passed and there are no other named beneficiaries, then the death benefit will be paid to your uncle's estate.

(o) If there is no person who would be entitled, upon application therefor, to an annuity under section 2 of the Railroad Retirement Act of 1974 [98], or to a lump - sum payment under section 6 (b) of such Act, with respect to the death of an employee (as defined in such Act), then, notwithstanding section 210 (a)(9)[99] of this Act, compensation (as defined in such Railroad Retirement Act, but excluding compensation attributable as having been paid during any month on account of military service creditable under section 3 of such Act if wages are deemed to have been paid to such employee during such month under subsection (a) or (e) of section 217 of this Act) of such employee shall constitute remuneration for employment for purposes of determining (A) entitlement to and the amount of any lump — sum death payment under this title on the basis of such employee's wages and self — employment income and (B) entitlement to and the amount of any monthly benefit under this title, for the month in which such employee died or for any month thereafter, on the basis of such wages and self — employment income.

If the insured dies during the time period specified in the policy and the policy is active — or in force — then a death benefit will be paid.

The repayments that you then make to your life insurance policy will usually have a low rate of interest — and, if you do not end up paying back these funds, the amount of the unpaid balance will be deducted from the death benefit that your beneficiary receives.

So if you get a $ 5,000 raise and your company's life insurance plan will pay two times your income if you die, then your death benefit will increase by $ 10,000.

As per Insurance Laws (Amendment) Act, 2015 — If an immediate family member such as spouse / parent / child is made as the nominee, then the death benefit will be paid to that person and other legal heirs will not have a claim on the money.

If you die while the policy is in effect, then the insurer pays the full death benefit to whomever you've named as the beneficiary.

In the long run, you're either going to come out the same (if you're lucky), or way behind if you pay it back (and if you die, then your estate will realize less death benefit).

If you die while they still own a policy, then a death benefit will pay out to the new company.

Then when you pass away, your heirs would receive nada bupkiss el zilcho (unless you paid the insurance premium to provide a death benefit, then you'd get about 15 % less paycheck than with American FunThen when you pass away, your heirs would receive nada bupkiss el zilcho (unless you paid the insurance premium to provide a death benefit, then you'd get about 15 % less paycheck than with American Funthen you'd get about 15 % less paycheck than with American Funds).

Term life offers coverage for a set period of time and then expires, and pays a death benefit to beneficiaries if the policyholder dies while the policy is in effect.

In many ways, indexed universal life insurance works in a similar fashion as most other types of coverage in that the policy holder pays their premium, and the net premium is then applied to the actual life insurance death benefit.

If a loved one is killed in a motor vehicle accident, then ICBC should be paying for funeral and death benefits.

Insurance companies make a tremendous amount of money from lapsed policies, after individuals pay premiums for years and then never collect a death benefit.

If, however, the insured lives past the first two or three years, and then he or she passes away, the entire amount of the stated death benefit will be paid out to the beneficiary.

With the guaranteed acceptance coverage through Colonial Penn, if the insured dies within the first two years of coverage, then the amount of the death benefit paid out to the beneficiary will be reduced.

Yes, if the insured passes away, then the company pays a death benefit, but this is a fairly rare occurrence due to the high lapse rates.

Then there are ones that waive premiums if you become disabled, while mortgage life insurance is connected to the principal amount on your mortgage and the death benefit and premiums decline as you pay off your home.

However, if the policy does not meet expectations then the owner would have to pay a higher premium and / or reduce the death benefit, or the coverage may lapse prematurely.

The bank provides this, gets paid, and then Bob's wife gets the rest of the death benefit.

Also note that even during the initial 2 or 3 year period, if death occurs as a result of an accident, then the full death benefit would be paid.

Accelerated death benefit rider: If you are diagnosed terminally ill then your life insurance policy will pay out up to $ 250,000 depending on the specific carrier.

It is important to note, however, that even though a withdrawal or a loan is not required to be paid back, if there is an unpaid balance in the cash - value component of the policy at the time of the insured's death, then the amount of that balance will be charged against the death benefit that is paid out to the policy's beneficiary.

So if you get a $ 5,000 raise and your company's life insurance plan will pay two times your income if you die, then your death benefit will increase by $ 10,000.

With the accelerated death benefit, if you are diagnosed terminally ill then your life insurance policy will pay out 25 % up to 80 % of the face amount depending on the specific carrier and the face amount of your policy.

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.

Then once the Good Lord calls you home, the insurance company will pay out the death benefit in the form of a tax - free check directly to your beneficiary (s).

If the underwriter estimates that the life expectancy of the individual is shorter than average, and that the client's premiums will not accumulate enough to pay off the death benefit as well as the excess profits for the insurance company, then the prospect will be denied coverage.

At the last death, the insurance company writes a tax free check for the death benefit to the ILIT which can then use the funds to pay your federal estate tax.

If your mom lives for at least two years, then the full death benefit of the policy will pay out.

If you were to die during the time period specified in your policy (and the policy remains in force), then a death benefit will be paid out.

In case the company is unable to settle the death claim in 8 working days then an interest of 8 % is paid on death benefit for each day beyond the 8th working day.

If you die while the policy is in effect, then the insurer pays the full death benefit to whomever you've named as the beneficiary.

Take life insurance as an example: you pay for a policy, and if you die during the term then that money (the death benefit) goes to the person you named as your beneficiary on the policy.

If the policyholder chooses the Save Benefit under any of the plan option, then on death or critical illness, the Sum Assured is paid to the beneficiary who is the child, all future premiums are waived off and paid for by the company and the plan continues.

A traditional whole life insurance policy purchased at 40, keeps the death benefit in force beyond age 70, as long as premiums are paid (dashed - blue, then solid - blue line).

If the insured commits suicide after that period, then the life insurance company will still pay the death benefit.

With a viatical settlement, a viatical settlement company buys your life insurance policy, gives you a percentage of the death benefit upfront, and then pays all the remaining premiums to become the sole beneficiary of your policy — receiving the full benefit when you die.

If you die during the contestability period and your misrepresentations come to light, then the life insurance company may cancel the policy, refuse to pay the death benefit, or subtract money from the death benefit based on the amount of premiums you should have paid.

According to Guinness World Records news service, the policy features «a combined death benefit to be paid upon the death of the single insured that more than doubles the previous record, set by Peter Rosengard from the U.K., whose record - breaking insurance sale in 1990 sold at $ 100 million (then # 56 million) on the life of a U.S. entertainment industry figure.»

With this rider, should the insured be diagnosed with a qualifying terminal illness, then he or she can assess funds from the death benefit while they are alive, to pay medical bills or any other item that they see fit.

In most cases, a life insurance policy that has a charitable giving rider will pay the death benefit amount to the policy's beneficiary (or beneficiaries), and then it will pay an additional percentage — usually 1 — 2 percent of the policy's face amount — to the charitable organization.