Sentences with phrase «waive policy premiums»

Add a waiver of monthly charges rider, which will waive policy premiums if you become disabled.

An optional add - on benefit that waives policy premiums after the insured has been totally disabled for a predetermined length of time, usually six months.

Disability Waiver of Premium Rider: On Whole Life Policies, if you were to become completely disabled for six months or longer before age 60 and through age 65, this rider waives your policy premiums until age 100.

if you were to become completely disabled for six months or longer before age 60 and through age 65, this rider waives your policy premiums until age 100.

Not exact matches

If total disability begins on or after age 60, premiums are waived until the policy anniversary closest to age 65 or termination of disability — whichever is earlier.

If you develop a qualifying disability or illness, the insurer waives your obligation to pay premiums while your policy remains in force.

If you develop a qualifying disability or illness, the insurer waives your obligation to pay premiums while your policy remains in force.

3) Bharti AXA Life Premium Waiver Rider (UIN: 130B005V03): Under this rider in case of the unfortunate event of death, Total Permanent Disability or critical illness (in case of Policyholder) and Critical Illness (in case of Life Insured) the future premiums are waived off and the benefits under the policy will continue.

If disability occurs before age 60 premium is waived for the life of the policy.

Waiver of Premium Rider: the waiver of premium rider will waive premiums due on the policy if you become totally disabled.

Premium Waiver rider (UIN: 130B005V03): 100 % of all future premiums under the base policy are waived and paid by the company on the death & total permanent disability or critical illness of Proposer, depending on the chosen option.

In addition, on certain policies with specific life insurance companies, the WOP rider will also waive premiums due on the supplemental life insurance riders, guaranteed insurability riders and renewable term riders.

If the disability starts before the policy anniversary when the insured is age 60 and the disability continues without interruption to age 65, then all future premiums are waived.»

You'll still have the same life insurance policy you bought - nothing will change about the term or death benefit - but your premiums will be waived until your disability ends.

For those with term coverage that have the WOP rider, you can convert your policy to a permanent policy if you are disabled for 2 years and base premiums will be waived.

Premiums for the Term Policy and all riders are waived while your client is receiving disability benefits.»

The Legalese «This rider waives all premiums on the base policy if the insured becomes totally disabled without interruption for at least six months.

The term «proceeds and avails», in reference to policies of life insurance, includes death benefits, accelerated payments of the death benefit or accelerated payment of a special surrender value, cash surrender and loan values, premiums waived, and dividends, whether used in reduction of premiums or in whatever manner used or applied, except where the debtor has, after issuance of the policy, elected to receive the dividends in cash.

The waiver provides that, if you suffer a disability before age 60, policy premiums are waived.

A premium waiver, whereby if the insured becomes disabled, they can have the policy's premium payments waived, while still keeping their life insurance coverage in force

If total disability begins on or after age 60, premiums are waived until the policy anniversary closest to age 65 or termination of disability — whichever is earlier.

These could be extras such as waiving premiums if you're disabled for a certain period of time, converting a term policy to a permanent policy, returning paid premiums if you outlive your policy's term, or, as we'll talk about here, receiving death benefits early.

The disability income rider allows you to have your premium payments waived and grants you a supplementary income — usually based on the value of your policy — if you become disabled.

If the insured person becomes disabled, the monthly premium due on the policy is waived during the disability, after a six - month elimination period is met.

Whether an applicant decides to go with whole life or guaranteed universal life, a couple of options worth exploring with an agent include possibly setting up a lifetime of guaranteed monthly income for beneficiaries or including a rider that gives a policy holder the ability to waive premiums if they become disabled and can't work.

Waiver of Premium: A particularly effective rider for business owners under the age of 60, the WoP rider kicks in if you are disabled, waiving all premiums due on your policy for the entire duration of the coverage, or until you are no longer disabled.

2 Up to $ 35 may be waived with net premiums paid or policy value of $ 50,000 or more; up to $ 50 may be waived with net premiums paid or policy value of $ 250,000 or more.

Disability waiver of premium — waives premiums when a policy owner suffers a long - term disability, typically one lasting six months or longer

MetLife's GLT coverage comes with a rider option called a Non-Convertible Disability Waiver of Premium, which waives all base premiums of the policy if the policyholder were to become disabled for at least six months.

The rider will waive premiums for the base policy and any eligible riders if the base policy insured becomes totally disabled for at least six months during his or her lifetime.

Most mortgage payment protection plans for unemployment will allow the owner of a mortgage protection policy to waive their mortgage protection plan premium during periods of unemployment.

Waives premiums for the base policy, and any attached riders, upon the total disability of the insured after a six - month waiting period

With the waiver of premium rider, the premium payments on the term life insurance policy would be waived if the insured were to become totally disabled — as defined in this rider.

The mortgage unemployment insurance will waive your mortgage protection premium, during this time, allowing your mortgage protection policy not to lapse while you are seeking new employment.

Care Benefit: Under Option 2, Wealth + Care Option - on occurrence of any one of the 5 listed Critical Illnesses, all future premiums that would otherwise have been payable shall be waived for the remainder of the premium payment term and the company will continue to allocate units to your policy as if the premiums are being paid.

If the main policyholder passes away, the policy will continue for the partner and future premiums will be waived off.

If the disability starts before the policy anniversary when the insured is age 60 and the disability continues without interruption to age 65, then all future premiums are waived.»

In the event of the unfortunate death of the insured (parent) during the policy tenure, insurance companies often offer to waive the premium.

Edelweiss Tokio Life child plans help you plan your child's future, and also have a comprehensive death benefit that pays not only a lump sum amount to your family, but also waives off future policy premiums, thereby protecting the maturity value that you had planned for your child.

You'll still have the same life insurance policy you bought - nothing will change about the term or death benefit - but your premiums will be waived until your disability ends.

If the life insured becomes totally and permanently disabled during the premium payment term, all his / her future basic premiums are waived off and the policy continues unhindered.

Policy continuance Benefit — in case of eventuality one can get lump sum benefit immediately on death to ensure financial security or can get future premiums waived off and ensure all other benefits are payable to the beneficiary.

A policy add - on that will waive the insurance policy premium if the insured is disabled for six months.

The Legalese «This rider waives all premiums on the base policy if the insured becomes totally disabled without interruption for at least six months.

Premiums are waived for the entire policy term in case the insured is diagnosed with early stage cancer.

If the insured is diagnosed with carcinoma in situ and provided that the policy is still in effect and premiums paid up to date, all future premium payments will be waived till the end of the policy term.

A Smart Benefit option where all future premiums payable under the policy are waived off and allocated by the company to ensure that savings for desired goal continue uninterrupted

Waives the premiums on your policy while you're on claim, until you're able to work again and resume payments.

Funding of Future premium is offered by the policy under which all the future premium due under the policy is waived off in case of demise of the insured person.

These could be extras such as waiving premiums if you're disabled for a certain period of time, converting a term policy to a permanent policy, returning paid premiums if you outlive your policy's term, or, as we'll talk about here, receiving death benefits early.