Sentences with phrase «upon the policy holder»

Upon the policy holders» passing, their beneficiaries will receive their benefits on a graduated basis.

However, like most other term policies, the rates will increase annually, based upon the policy holder's then current age and health condition.

This is to ensure that the third party in question will be able to make a profit from the purchase upon the policy holder's death.

Third, the suggestion that the life insurance company «takes the cash value» upon the policy holder's death is based upon a misunderstanding of how the policies work.

Not exact matches

Current policy allows a Residency certificate holder to apply for renewal upon entering a ProTeach program or achieving National Board certification.

If you're not familiar a term life insurance policy is a contract that pays a specific amount of money upon the policy - holder's death.

Life insurance is a policy that offers a benefit to the designated beneficiaries upon the death of the policy holder.

Whole life insurance (cash value life insurance) offers a permanent accruing death benefit as well as accruing cash value within the policy over the life of the policy holder based upon mortality tables.

A provision of the ACA designed to facilitate preventative care and which was put into effect immediately upon enactment of the law is its coverage of certain preventative care screenings — these procedures have been made available to all health insurance policy holders without charge, and without payment of normal co-pay fees or charges.

Since the policy is meant to cover all the expenses of a policy holder's family upon his death the amount of coverage should be decided accordingly.

Depending upon the amount of premium the policy holder chooses to pay, the cash value account can build value.

Universal life insurance which is offered in a few different forms depending upon how the assets are invested and returns are offered to policy holders.

We believe this criticism fails the test upon implementation because stock companies are not noticeably cheaper on average than mutual companies — their premiums are roughly the same, but the profit (the amount above the cost) goes to stock holders instead of going to policy holders in the form of dividends.

As an aside, keep in mind that a significant part of the payment would go to the mortgage holder, if any, and that a homeowner's insurance policy almost never covers the part of the value of a home that is attributable to the land that it is build upon, rather than that building that was destroyed itself.

A contract holder of a segregated fund, such as a pool of investments tied together in an life insurance policy, pays premiums to an insurance company so that the contract holder will receive an agreed upon sum in the case of loss.

Again, this may vary among insurance carriers, but most offer a lump - sum to be paid to the policy holder upon the diagnosis of a covered condition.

At the same time, it gives coverage for the insured party's family, which means that beneficiaries will receive proceeds from the insurance claim upon death of the policy holder.

Life insurance is financial coverage that pays a specified amount of money to a chosen beneficiary upon the death of the main policy holder.

Upon producing an NCB retention letter to their new insurers, the previous policy holder becomes eligible for discounts on his insurance premiums.

It is also a major factor as a policy holder becomes capable of converting his existing policy to something else depending upon changing situations but there are certain restriction about the conversion cost, time period and also the converted amount.

Life Insurance or assurance is a legal contract between the insurer or the insurance company, and policy owner / holder who is the person availing of the plan and whose family will receive money upon his / her death or any other event such as terminal disease.

Depending upon the performance of the unit linked fund (s) chosen; the policy holder may achieve gains or losses on his / her investments.

Many insurance companies offer this type of incentive in an effort to compete with their competition in the insurance market, but it is not something that every insurance policy holder is entitled to receive upon renewal.

The family gets a lump sum upon the death of the parent, and the future premiums of the policy are paid by the insurance company on behalf of the policy holder.

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).

It defines life insurance «as a contract between and insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person.»

Here, there is an additional benefit or 1 % of the base policy's death benefit — up to a maximum of $ 100,000 — that can go to a qualified charity of the policy holder's choice upon death.

Life insurance, or rather, standard life insurance, consists of a policy that is either permanent life insurance or term life insurance, with a death benefit paid to the beneficiaries upon the insurance holder's death.

Both types of insurance pay a lump sum of money to the beneficiary upon the death of the policy holder.

This is also called the insurable interest doctrine and the interest is based upon the impact that the policy holder has in the life of the beneficiary.

Upon the unfortunate death of the policy holder, it provides permanent protection to the beneficiary.

Permanent life insurance offers an insurance component that pays a stated amount of proceeds upon the death of the insured, while at the same time providing a cash value or investment component that accumulates cash value that the policy holder may withdraw or borrow against.

Upon discontinuation of the policy, the holder can either revive the policy or completely withdraw without any risk cover.

Upon the death of the policy holder, all of the assets, policy value and death benefits should be awarded to the beneficiaries.

A surrender charge is levied on policy holders upon cancellation of their policy before maturity; i.e. the pre-defined length of the policy term, and is designed to cover the cost of keeping the policy on an insurer's books.

The methods insurers use to determine the rates they charge to policy holders depend upon a wide range of factors, some of which are directly tied to those classifications on both the insurer and customer sides of the transaction.

The beneficiary — in many cases a family member or other loved one — makes the life insurance claim upon the insured's death and is then responsible for using the proceeds to carry out the policy holder's wishes.

Permanent life insurance is lifelong and only pays out upon the death of the policy holder.

This will be dependent upon several different factors — including the policy holder's age and gender, as well as the type of policy that is purchased and the insurance company that the plan is purchased through.

Life insurance is a contract between an insured (insurance policy holder) and an insurer, where the insurer promises to pay a designated beneficiary a sum of money (the «benefits») upon the death of the insured person.

For example, indexed universal life offers policy holders a return of cash based upon a number of market indexes (such as the S&P 500 index) that may be selected by the policy owner.

Universal life insurance which is offered in a few different forms depending upon how the assets are invested and returns are offered to policy holders.

Now the question that arises is that which is the best child policy for you, but there's no right answer of this question as the child policy depends upon the requirement of the policy holder.

Upon the diagnosis of terminal illness / death of the policy holder during the policy term, a lump sum benefit is paid out to the nominee.

Life Option: Under this cover option, nominees assigned by the policy holder are paid the lump sum benefit upon the diagnosis of terminal illness or the death of the policy holder.

The income period starts upon the death of the policy holder and continues for the pre-determined timeframe.

LIC Pension Plans: Pension plan from LIC offer several benefits including complete life cover, and a stable source of income upon retirement of the policy holder.

Income Replacement Option: Under this cover option, nominees get regular monthly income upon the death of the policy holder.

Income Option: Under HDFC 3D Plus cover option, the nominees are provided with a lump sum benefit and also a fixed income upon the death of the policy holder.

Beneficiary is the person named in the insurance contract who is entitled to receive the benefits of the policy upon the death of the policy holder.