What is the clause that describes the method of paying the death benefit?
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A Show Age
Annuity
Application Form
Synonyms: Proposal Form Assignment
BBancassurance
Bundled Product Disclosure document
CCareShield Life
Cash Dividend
Cash Value
Synonyms: Surrender Value Claim
Co-Insurance
Commission
compareFIRST
Cover Page
Coverage
CPF DPS
CPF LIFE
Critical Illness Insurance
Customer Knowledge Assessment (CKA)
DDeath Benefit
Deductibles
Direct Purchase Insurance (DPI)
Disability
Disability Benefit
Disability Income Insurance
Dispute Resolution
EElderShield
Endowment Policy
Exclusions
FFact-Find Process
Financial Advisory (FA) Representative
Forfeiture
Free Look
GGrace Period
HHospital Cash Insurance
IIndemnity
Integrated Shield Plans
Interim Cover against Death by Accident
Investment-Linked Insurance
LLiving Benefits
Synonyms: Accelerated death benefits Long-Term Care Insurance
MMaturity Date
Medical Expense Insurance
Medisave
MediShield Life
NNomination of insurance beneficiary
Non-Forfeiture Values
Non-Participating Policy
PPaid-up Value
Participating Policy
Policy
Policy Illustration
Policy Loan
Premium
Product Summary
RRegular Premium Policy
Reinstatement
Reports on your Policy
Reversionary Bonus
Rider
Risk Profile
SSelected Client
Single Premium Policy
Suicide
Sum Insured
Surrender Value
TTerm Insurance
Terminal Bonus
Time Horizon
UUnit Trust
Synonyms: Collective Investment Scheme (CIS) Universal Life Insurance
• Protection-oriented universal life plans that provide high insurance coverage, these are typically whole of life plans; or
VVoiding a policy
WWaiver of Premium
Whole Life Insurance
What type of policy has a death benefit?As a rule, term policies offer a death benefit with no savings element or cash value. Premiums are locked in for the specified period of time under the policy terms.
What is a death benefit payment?What Is a Death Benefit? A death benefit is a payout to the beneficiary of a life insurance policy, annuity, or pension when the insured or annuitant dies. For life insurance policies, death benefits are not subject to income tax and named beneficiaries ordinarily receive the death benefit as a lump-sum payment.
What is the incontestable clause?An incontestability clause is a provision in a life or disability insurance policy that prevents the insurance company from canceling the policy based on misstatements in the policy application after the insurance has been in effect for a certain period of time, usually two years.
What is Indisputability clause?Indisputability clause
This ensures that insurers do not arbitrarily dismiss claims on grounds of inaccurate declaration by the policyholder.
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