Sentences with phrase «to pay out benefits»

These guaranteed issue plans do cost more and they won't pay out any benefits if you die within the first two years.

It is a whole life insurance option, which pays out benefits when the insured individual dies.

Part of that has to do with the name - people may understand that life insurance pays out a benefit if they die, but they may not make the connection as to why.

As is, the federal parental leave program pays out benefits for up to 17 weeks for new mothers and allows parents to split an additional 35 weeks.

If you claim under the definitions above the policy will pay out a benefit of 25 % of the amount of cover or # 25,000, whichever is lower.

The elimination period is the period of time between when your disability starts and when your insurance company starts paying out benefits.

Insurance companies will define specific criteria for paying out benefits in these cases.

Part of that has to do with the name - people may understand that life insurance pays out a benefit if they die, but they may not make the connection as to why.

Basically, this means they will not pay out any benefits on your policy if you pass away during the first two years.

In addition to just paying out a benefit upon one's death, life insurance can be used as part of an overall strategy for retirement, estate, and financial planning.

Currently, many public sector plans pay out benefits that are fully and automatically indexed to inflation, regardless of fund assets.

They cost more money, and they don't pay out any benefits during the first two years.

Insurance is a business like any other in that they want to ensure that the consumer or policy holder side of the contract was properly fulfilled before paying out the benefits.

Well, insurance companies are very good at taking your premiums for car insurance, but not as good paying out benefits.

Variable life insurance is a financial product that has an investment component as well as paying out a benefit when the policyholder dies.

It is a common practice among insurance companies to deny or delay paying out the benefits their clients have paid for and are counting on.

It is the responsibility of the insurance company to handle the claim and pay out benefits within 30 days.

The elimination period is how long you have to wait before the insurer pays out benefits.

Since they often expire without paying out benefits, term life policies tend to be far cheaper than whole life products.

Such policies are significantly more expensive than term life coverage because they will definitely pay out benefits, as long as the policy is still in effect when you die.

It can even pay out benefits to the employee's family in the unfortunate event that a work - related injury proves fatal.

Only about 2 percent of term policies ever pay out a benefit and therefore it is highly profitable for them.

You can also designate a trust in the child's name as the beneficiary, and the fiduciary in charge of the trust will pay out the benefit when the child becomes eligible.

The state pension plan was forced to start paying out benefits to teachers before it otherwise would have.

-- a term life insurance policy doesn't pay out any benefits.

Here, the employer is creating a fund to hold all contributions into the pension and pay out all benefits in retirement.

Unlike term life insurance, which is temporary and limited to a predetermined number of years, whole life will last your entire lifetime and pay out the benefit upon your death.

Own - occupation coverage means the disability insurance company will pay out a benefit if you are unable to do your own job, but still able to work in other jobs.

If you've been diagnosed with a certain disease or are suffering from an illness that significantly affects the quality of your life and need cash, the insurer will pay out the benefit prior to your death.

Short term disability insurance policies pay out benefits for reasons such as the following:

While a first to die joint life policy pays out upon the death of the first covered person, a second to die life insurance policy will not pay out benefits until both of the insureds have passed on.

There are many types of low cost life insurance available on the market today with benefits such as «return of premium» life insurance and Term life insurance with «living benefits» which pay out benefits while you are alive.

An AD&D policy may also pay out benefits — in some cases, the entire amount and in others a percentage of the total stated amount — if the insured incurs an accident that leaves him or her with certain types of disability.

The worst case scenario is that you become unable to do your job for some reason and the insurance company doesn't pay out any benefits because you don't meet their definition of a disability.

This is because workers» compensation is a form of insurance, which means that insurance companies lose money by paying out benefits.

They also come with an accelerated death benefit rider that will pay out your benefit earlier if you become terminally ill.

The chief difference between short - term and long - term disability insurance is that short - term disability insurance typically only pays out benefits for under a year, while long - term disability insurance may pay benefits much longer.

Will your policy still pay out the benefit?

In addition to simply paying out a benefit upon an insured's death, life insurance policies can also be a primary component of one's overall financial, retirement, and estate planning strategies.

While accidental death life insurance coverage will pay out a benefit based on an accidental death of an insured, there are some exclusions that are typically written into most AD&D plans.

Burial insurance — which is also oftentimes referred to as funeral insurance or final expense life insurance — is a type of coverage that will pay out a benefit quickly to your named beneficiary so that final expenses can be paid... and so that your survivors don't have to dip into saving or use credit to pay these costs.

Personal injury protection (PIP) is a no - fault policy, meaning that it may pay out benefits regardless of who is at fault.

Thus, if an accident results in the direct loss of your eyesight, speech, hearing, or a limb, your carrier will pay out your benefit amount.

Guaranteed Death Benefit If you die before your annuity begins paying out benefits, your beneficiary, as named in the contract, will receive a death benefit.

Should the policyholder die midterm during the policy, the insurer will not only pay for all future premiums of the policy but will pay out the benefits of life cover (10 times of annualized premium) and Rs. 25 Lakhs as maturity benefits at the end of policy tenure when the child attains 18 years of age.

If you've been diagnosed with a certain disease or are suffering from an illness that significantly affects the quality of your life and need cash, the insurer will pay out the benefit prior to your death.

Because life insurance is typically something that you will hold for a long time before it pays out, if it ever does, you will want the insurer to still be in business and still be financially stable enough to pay out benefits when necessary.

This is the amount of time between when your disability starts and when the insurance company will start paying out your benefits.

Term insurance plan pays out the benefit to the nominee upon the death of the policyholder who in most cases is the breadwinner in the family.