Which type of life insurance policy pays the face amount at the end of a specified period if the insured is still alive?

What kind of life policy either pays the face?

Endowment insurance provides for the payment of the face amount to your beneficiary if death occurs within a specific period of time such as twenty years, or, if at the end of the specific period you are still alive, for the payment of the face amount to you.

What kind of life insurance policy pays a specified monthly income to a beneficiary for 30?

A term life insurance policy is the simplest, purest form of life insurance: You pay a premium for a period of time – typically between 10 and 30 years – and if you die during that time a cash benefit is paid to your family (or anyone else you name as your beneficiary).

What is face amount in life insurance?

The face value of life insurance is the dollar amount equated to the worth of your policy. It can also be referred to as the death benefit or the face amount of life insurance. In all cases, life insurance face value is the amount of money given to the beneficiary when the policy expires.

What type of life policy covers 2 lives and pays?

A survivorship life policy insures two individuals and is designed to pay a benefit upon the second death.

What is the face amount of a whole life policy paid?

The face value is the death benefit. This is the dollar amount that the policy owner's beneficiaries will receive upon the death of the insured.

Which type of life insurance policy allows the policyowner to pay more or less?

Convertible insurance lets the policy owner convert a term policy that only covers the insured individual for a predetermined number of years into a policy that covers that individual indefinitely, as long as the policyholder continues to pay the insurance premium.

What is the face amount of a $50000 graded death benefit life insurance policy when the policy is issued?

At what point are death proceeds paid in a joint life insurance policy? Which statement regarding universal life insurance is correct? What is the face amount of $50,000 graded death benefit life insurance policy when the policy is issued? Under $50,000 initially, but increases over time.

What is joint policy?

The Joint life term insurance policy gives coverage to two people. The premium is paid by both the insured pears for the fixed period, and the pay-out is on a first death basis. In case one of the policyholders dies, the sum assured is paid to the other policyholder.

What does a face amount plus cash value policy pay upon the insured's death?

What does a Face Amount Plus Cash Value Policy supposed to pay at the insured's death? ... $20,000 death benefit". If the insured dies before the endowment's maturity, the policy's face value — also known as the "death benefit" — is paid in a lump sum to any beneficiaries. You just studied 42 terms!

Which insurance covers risk of death?

Term insurance plan covers health related death or natural death. The death can be due to diseases or a medical condition which ultimately results in the death of the policy. Under such circumstances, the nominee of the policy holder will be paid the sum assured of the term plan.

Which of the following types of policies pays a benefit if the insured goes blind?

Accidental Death and Dismemberment Insurance. Also known as AD&D, this type of insurance pays out if the insured dies, becomes blind or is dismembered (loses a limb) in a covered accident.

What are the 3 types of life insurance?

There are three main types of permanent life insurance: whole, universal, and variable.

What are the 3 main types of insurance?

What are the 4 types of life insurance?

What is a face amount?

Often used in the context of life insurance, the face amount refers to the stated amount of money payable to the deceased's beneficiaries at the time of loss or when the policy matures. This is exclusive of any additional features, such as accrued interest, accident insurance, or disability insurance.

How do you calculate face amount?

Face value is calculated by adding the death benefit with any rider benefits, and subtracting any loans you've taken on the policy.

What is face amount Bond?

The face value of a bond is the price that the issuer pays at the time of maturity, also referred to as “par value.” By comparison, the face value of a stock is the price set by the issuer when the stock is first issued.

What kind of life insurance policy pays a specified monthly income to a beneficiary for 30 years then pays a lump sum benefit at the end of the 30 years?

What kind of life insurance policy pays a specified monthly income to beneficiary for 30 years and then pays a lump sum benefit at the end of the 30 years? S is covered by a whole life policy.

Which of the following policies has a level face amount with level premiums?

Which of the following policies has a level face amount with level premiums? Level premium term, also called level premium level term, has a level face amount and level premiums. Premiums tend to be higher than annual renewable term because they are level throughout the policy period.

What type of life insurance gives the greatest amount of coverage for a limited period of time?

Term life insurance gives you the best life protection coverage for period of time at It's a great solution for people with temporary needs or a limited budget. As the name implies, term life provides protection for a specific period of time.