Sentences with phrase «upon the death of the insured»

Whole life insurance also pays out a death benefit upon the death of the insured person.

Guaranteed issue life insurance coverage is a life insurance policy that will pay out a benefit to a named beneficiary upon the death of an insured.

Life insurance is a contract that pays out a death benefit upon the death of the insured person.

The death benefit is the amount paid to the beneficiary of the insurance policy upon the death of the insured person.

The policy pays upon the death of the insured or when the insured person reaches a specific age stated in the policy.

In this scenario, the beneficiaries will no longer have a share of the proceeds upon death of the insured person.

Life insurance is insurance that pays out a sum of money upon the death of the insured person.

Mortgage credit life insurance is designed to pay off the balance of a home mortgage upon the death of the insured party.

The proceeds or benefit that is payable to the beneficiary of a life insurance contract upon the death of the insured.

Under the terms of a life insurance policy, the insurer will generally make a payment upon the death of the insured.

A term policy pays only upon the death of the insured.

The amount stated in a life insurance policy that is payable upon the death of the insured person listed on the policy.

The cash value policy pays out a lump sum cash benefit upon the death of the insured for the benefit of the life insurance beneficiary.

As a basic premise, the policy's death benefit will pay out upon the death of the insured in return for the payment of a premium.

The only time there is a payout made is upon the death of the insured during the term (duration) of the policy.

Claims are paid after death: You need to understand that claims from life insurance policy can only be made upon the death of the insured.

This means that in many cases the full amount of death benefit will be paid upon the death of the insured without a waiting period.

Life insurance policies are still certainly used as a tool for replacing income or for paying off debt upon the death of an insured.

Term life insurance is a financial security product that pays out funds in a lump sum upon death of the insured.

The policies offer life insurance coverage that pays money to a designated survivor upon the death of the insured person.

These policies are designed to pay off ones mortgage balance upon the death of the insured.

A death benefit, also known as the coverage amount, is how much will payout upon the death of the insured person.

Life insurance provides the foundation of coverage which can guarantee a source of funds upon the death of the insured.

The amount beneficiaries receive is guaranteed upon the death of the insured, according to the terms of the contract provided that premiums are paid.

It can be a very important part of financial planning because it pays monetary benefits upon the death of the insured covered in the policy.

As most people are aware term insurance is designed to provide a lump sum or income upon the death of the insured.

By choosing this rider, the assigned nominee / family of the life insured is provided with the monthly income apart from the lump sum payout they get upon the death of the insured.

The explanation for why the cash value expires upon death of the insured party is due to the fact that only cash value or a death benefit may be claimed.

There is no cash value in this kind of set - up and the death benefits are given upon the death of the insured.

An agreement that guarantees the payment of a specified amount of money usually upon the death of the insured.

These benefits are in addition to the lump sum that is paid out immediately upon the death of the insured.

Call your agent upon the death of the insured, if you still have one.

When you have a final expense insurance policy, a death benefit is paid out to a named beneficiary upon the death of the insured.

The beneficiary is the person (s) or entity who is designated by the insured person to receive the proceeds from the life insurance policy upon the death of the insured person..

A life insurance beneficiary is an individual who receives the policy's benefit proceeds upon the death of the insured.

There is no cash value, there is no investment component and the policy pays off only upon the death of the insured.

A policy was developed that would pay upon the death of the insured for a specific amount, such as $ 1,000.

A life insurance beneficiary is the person who will receive the policy benefits upon the death of the insured.

Life insurance is insurance that pays out a sum of money upon the death of the insured person.

This means that in many cases, the full amount of death benefit will be paid upon the death of the insured without a waiting period.

Life insurance policies are still certainly used as a tool for replacing income or for paying off debt upon the death of an insured.

It is insurance that provides a cash benefit to survivors upon the death of the insured person.

Upon the death of the insured in life insurance policy, the beneficiaries become entitled to the death benefit.

Life insurance is a contract where, in exchange for premium payments, a lump sum of money is paid upon the death of the insured person.

Beneficiary: the beneficiary is the person or entity that receives the life insurance benefit from the insurer upon the death of the insured.

Insurable Interest When a policy is purchased, the buyer must have an economic interest in the life if the insured, or a demonstrable expectation of loss upon the death of the insured.

The special feature of Decreasing Term Insurance, as the name implies, is that the sum of money the legitimate beneficiaries will receive upon the death of the insured decreases over the policy period.

MINNEAPOLIS, March 20, 2018 — Although most Americans have a strong understanding of the primary need for life insurance within their financial strategy — particularly the death benefit that provides monies to family / loved ones upon death of the insured — many are unaware of the additional living and tax benefits that may be available through permanent life insurance.

Death Benefit: The assured sum paid to the beneficiary (ies) of a policy upon the death of an insured individual by the insurance company.

Death Benefit — The amount paid to the beneficiary by the insurance company upon death of the insured person.