Sentences with phrase «under a life insurance policy dies»

The amount of money paid or due to be paid when a person insured under a life insurance policy dies, after adjustments for any outstanding policy loans, dividends, paid - up additions or late premium payments (if applicable) are made.

The amount of money paid or due to be paid when a person insured under a life insurance policy dies.

Not exact matches

This means that if you die due to an accident while covered under a life insurance policy with an AD&D rider, your beneficiaries could receive up to twice your face amount — one payout equal to your face amount from the life insurance half of the policy, and another payout from the AD&D rider.

This means that if you die due to an accident while covered under a life insurance policy with an AD&D rider, your beneficiaries could receive up to twice your face amount — one payout equal to your face amount from the life insurance half of the policy, and another payout from the AD&D rider.

This type of rider allows you, under certain circumstances, to receive the proceeds of your life insurance policy before you die.

With last - survivor or second - to - die life insurance, the death benefit is paid after the second person covered under the policy dies.

This type of rider allows you, under certain circumstances, to receive the proceeds of your life insurance policy before you die.

Life insurance pays out if the person insured under the policy dies.

When the insured person dies, the remainder of the death benefit is paid to the Beneficiary, just as under a traditional life insurance policy.

When the insured dies, the remainder of the death benefit is paid to the beneficiary, just as under a traditional life insurance policy.

Joint life insurance policies such as first - to - die life insurance and second - to - die life insurance each cover two people under one policy.

But survivorship universal life insurance is different in that the death benefit is only paid out when both insureds under the policy die.

What changes is that when the insured dies, the policy's death benefit is paid out tax - free, under the standard rules for tax - free death benefits of life insurance under IRC Section 101 (a).

Moreover, it provides survivorship life insurance, also known as second - to - die insurance, which insures both client and spouse under one policy, with earnings payable after the second death.

That is the case of Second to Die Life Insurance Policy also known as Survivorship Whole Life Insurance, designed to insure two people under one policy with one premium paPolicy also known as Survivorship Whole Life Insurance, designed to insure two people under one policy with one premium papolicy with one premium payment.