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.
Upon the death of the insured in life insurance policy, the beneficiaries become entitled to the death benefit.
Not exact matches
The third most common configuration is joint first - to - die,
in which the
death benefit is paid
upon the first
death of 2 or more
insureds.
In contrast to term insurance, a whole life insurance policy pays the death benefit stipulated in the contract upon the death of the insured, regardless of when it may occu
In contrast to term insurance, a whole life insurance policy pays the
death benefit stipulated
in the contract upon the death of the insured, regardless of when it may occu
in the contract
upon the
death of the
insured, regardless
of when it may occur.
The Legalese «The Acceleration
of Death Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&r
Death Benefit Rider provides payment
of all, or a portion
of the
death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&r
death benefit,
of the amount that would normally be paid to the beneficiaries
upon the
death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&r
death of the
insured, while the
insured is alive if they are determined to be terminally ill with 12 months (24 months
in some states) or less to live.»
You make payments on the policy and,
in return, the insurance company provides a lump - sum payment, also called a
death benefit, to the beneficiaries you have chosen
upon the
death of the
insured.
Benefit: For life insurance, it is the amount
of money specified
in a life insurance contract to be paid to the beneficiary
upon the
death of the
insured.
The
death benefit
of a life insurance policy is the amount paid out
upon the
death of the
insured, while cash value refers to the amount
of funds
in a permanent life insurance policy's cash account.
Life insurance protection comes
in many different forms, but the primary purpose
of any policy is to provide a
death benefit
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.
In return for these premiums, the insurance company will provide a
death benefit to a named beneficiary
upon proof
of the
insured's
death and a policy cash value.
Life insurance is based
in contract law, and the proceeds pass by operation
of law
upon the
insured's
death.
In many ways, Final expense insurance works like any other type of life insurance policy in that a premium is paid for the coverage, and then upon the insured's death, the proceeds are paid out to a named beneficiar
In many ways, Final expense insurance works like any other type
of life insurance policy
in that a premium is paid for the coverage, and then upon the insured's death, the proceeds are paid out to a named beneficiar
in that a premium is paid for the coverage, and then
upon the
insured's
death, the proceeds are paid out to a named beneficiary.
$ 500,000 Term Life Insurance Term life insurance is a financial security product that pays out funds
in a lump sum
upon death of the
insured.
Pure Endowment A life insurance contract that provides payment only
upon survival
of the
insured to a certain date and not
in the event
of that person's prior
death.
In exchange for paying premiums on a policy, the insurance company provides a lump - sum payment (far in excess of what you paid in), known as a death benefit, to beneficiaries upon the insured's deat
In exchange for paying premiums on a policy, the insurance company provides a lump - sum payment (far
in excess of what you paid in), known as a death benefit, to beneficiaries upon the insured's deat
in excess
of what you paid
in), known as a death benefit, to beneficiaries upon the insured's deat
in), known as a
death benefit, to beneficiaries
upon the
insured's
death.
In theory, the riders can be added at time
of application and
upon medical approval so that the policy owner can access a portion
of the
death benefit as long as certain conditions are met by the
insured medically.
The insurance company pays a cash amount (called the coverage amount or
death benefit) to the beneficiary (s) named
in the policy
upon the
death of the
insured person named
in the policy.
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.
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.
The Legalese «The Acceleration
of Death Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&r
Death Benefit Rider provides payment
of all, or a portion
of the
death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&r
death benefit,
of the amount that would normally be paid to the beneficiaries
upon the
death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&r
death of the
insured, while the
insured is alive if they are determined to be terminally ill with 12 months (24 months
in some states) or less to live.»
Upon death of the
insured the
death benefit is payable which can be taken
in monthly instalments or
in one lump sum
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.»
While mortgage life insurance works
in much the same manner as a regular life insurance policy does, with the payout
of death benefits
upon death of an
insured,
in many instances, these types
of policies will only require a minimal amount
of underwriting for approval.
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.
Life insurance (or life assurance, especially
in the Commonwealth
of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum
of money (the benefit)
in exchange for a premium,
upon the
death of an
insured person (often the policy holder).
Life insurance protection comes
in many different forms, but the primary purpose
of any policy is to provide a
death benefit
upon the
death of the
insured.
When a consumer sells a policy
in a «life settlement» transaction, the policy owner receives a cash payment and the purchaser
of the policy assumes all future premium payments — then receives the
death benefit
upon the
death of the
insured.
In addition, loans from insurers secured by policy values are not income and earnings credited to an owner's policy values (known as «inside buildup») by the insurance company are not currently taxed (and may escape taxation altogether if such earnings are not distributed other than as part
of the
death benefits paid
upon the
death of the
insured).
In exchange for premium payments, the insurance company presents a lump - sum payment, known as a
death benefit to beneficiaries
upon the event
of the
insured's
death.
Upon the
death of an
insured or policy owner then those who wish to file beneficiary disputes may do so, nevertheless the decision
of the policy owner remains
in effect unless declared otherwise by the court.
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.
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.
Beneficiary is the person (s) or entity (ies)(for e.g. corporation, trust etc.) who is named
in the policy as the recipient
of insurance proceeds
upon the
death of the
insured.
Upon the
death of the
insured / annuitant, the insurance company pays the contract beneficiary (s) the
death benefit amount either
in a lump sum or over a set number
of years.
This means that,
upon death of the
insured individual, the policy only pays out if payments have been kept current; if payments stop before the individual dies, the policy is no longer
in force and will not pay out any money.
In a life settlement, a policy owner receives a cash payment, while the purchaser
of the policy assumes all future premium payments and receives the
death benefit
upon the
death of the
insured.
The term «face value»
in life insurance refers to the
death benefit that is paid to beneficiaries
upon the
death of the
insured.
Unlike an owner
of a life insurance policy, designated beneficiaries do not have to have an
insured interest
in an
insured when identified
in the contract or
upon the
death of the
insured.
The policy pays
upon the
death of the
insured or when the
insured person reaches a specific age stated
in the policy.
It used to be that most life insurance policies were left
in force
in order that the intended beneficiaries could receive the face value
of the insurance policy
upon the
death of the
insured.
Additionally, if one engages
in the transaction, the
insured may occasionally (usually about once a year) receive a call from a servicing company to inquire
upon the health
of the
insured (to determine if the
insured has died and whether the investor should be making a
death benefit claim on the policy).
In other words, regardless
of how long the
insured has had the policy,
upon death, the policy will pay out the full amount
of the stated
death benefit to the named beneficiary.
In this case, the proceeds are paid out to a named beneficiary, who is generally in charge of overseeing that the wishes of the insured take place upon his or her deat
In this case, the proceeds are paid out to a named beneficiary, who is generally
in charge of overseeing that the wishes of the insured take place upon his or her deat
in charge
of overseeing that the wishes
of the
insured take place
upon his or her
death.
This guaranteed period or «term» that a
death benefit will be paid (only
upon death of the
insured) is the reason this kind
of insurance policy is called «term life insurance», Other permanent types
of insurance contracts also exist such as whole life insurance and universal life insurance, which will never expire as long as all premium payments are made
in a timely manner to the insurance company.
The insurance company pays a cash amount or
death benefit to the beneficiary (s) named
in the policy
upon the
death of the
insured named
in the policy.
In exchange for making premium payments over a period
of (x) amount
of years (x being the length
of the term), the life insurance company provides financial protection on the life
of an
insured person and is legally bound to pay any valid claim
upon death of the
insured person.
Policy Owner: Premiums paid by the policy owner are normally not deductible for federal and state income tax purposes, and proceeds paid by the insurer
upon the
death of the
insured are not included
in gross income for federal and state income tax purposes.
Burial insurance works much like other types
of life insurance
in that,
in return for the payment
of a premium, a benefit is paid out
upon the
death of the
insured.
The agreement provides that
in return for timely premium payments to the insurance company, the company will provide a specified
death benefit
upon death of an
insured.