what is direct term life insurance definition
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- Term life insurance or term assurance is life insurance that provides coverage at a fixed rate of payments for a limited period of time, the relevant term.
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Group Term Life/Accidental Death & Dismemberment (AD&D) The Group Term Life benefit is paid in the event of the death of an employee from any cause. Accidental Death and Dismemberment affords coverage for specific losses sustained as a result of any injury, subject to certain time limitations and exclusions. Group Term Life/AD&D Plan Features: Dependent life available; Accelerated death benefit
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Life insurance What is 'Accidental Death And Dismemberment Insurance - AD&D'. Accidental death and dismemberment insurance (AD&D) is a rider attached to a health insurance or life insurance policy covering death by accidental means and dismemberment, including the loss of or the loss of use of body parts or functions (meanings limbs, speech, eyesight or hearing).
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group term life insurance (GTL) group term life insurance (GTL) Definition. A term life insurance policy, or life insurance that only pays off if the covered individual dies within the specified term, that covers a group of people, typically employees of a company. A group term life insurance policy provides better value to group members due to shared administrative costs and other factors.
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A Consumer's Guide To Buying Individual Life Insurance Term life insurance covers you for a set period of time, called the policy term, which begins and ends on specific dates. For example, a ten-year policy term would provide coverage for ten years. Benefits will be paid only if you die within that time.
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- Term life insurance is what people call pure insurance.. You pay a premium for a specific period of time, usually 10 to 30 years, and the company will pay a death benefit to … your beneficiary if you passed away in that time period.
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Group-Term Life Insurance A policy is considered carried directly or indirectly by the employer if: 1  The employer pays any cost of the life insurance, or.  The employer arranges for the premium payments and the premiums paid by at least one employee subsidize those paid by at least one other employee (the “straddle” rule).
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What is 'Term Life Insurance' What is 'Term Life Insurance'. Term insurance is a policy with a set duration limit on the coverage period. Once the policy is expired, it is up to the policy owner to decide whether to renew the term life insurance policy or to let the coverage end. This type of insurance policy contrasts with permanent life insurance, in which duration extends until the policy owner reaches 100 years of age (i.e. death). Next Up.
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Chapter 3-Life Family term rider. An insured purchased a 15-year level term life insurance policy with a face amount of $100,000. The policy contained an accidental death rider, offering double indemnity benefit. The insured was severely injured in an auto accident, and after 10 weeks of hospitalization, died from the injuries.
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Know Your Post-Service Life Insurance Options Term Life Insurance. The term life policy is the most basic of all commercial life insurances. You purchase coverage at a specific price for a specific period of time, and its purpose is to pay a predetermined amount to your beneficiaries if you die.
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Accidental death and dismemberment insurance (May 2015). In insurance, accidental death and dismemberment (AD&D) is a policy that pays benefits to the beneficiary if the cause of death is an accident. This is a limited form of life insurance which is generally less expensive.
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Chapter 3-Life Which rider, when attached to a permanent life insurance policy, provides an amount of insurance on every family member? Family term rider An insured purchased a 15-year level term life insurance policy with a face amount of $100,000.
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direct loss direct loss. Property loss caused by an unbroken chain of events (see proximate cause) covered under an insurance policy. In home insurance policies, for example, living room furniture lost in a fire originating in the kitchen is a direct loss. See also consequential loss and indirect loss.
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Life Insurance - Top Ten Questions Whole life insurance is designed to provide coverage on the insured for the insured’s entire life as long as premiums are paid and the policy has not been surrendered. On the other hand, term life insurance provides coverage only for a fixed period that is stated in the policy.
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Variable universal life insurance Variable universal life is a type of permanent life insurance, because the death benefit will be paid if the insured dies any time as long as there is sufficient cash value to pay the costs of insurance in the policy.
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What is term insurance? Term insurance is a type of life insurance policy that provides coverage for a certain period of time, or a specified term of years.If the insured dies during the time period specified in the policy and the policy is active-or in force-then a death benefit will be paid.erm insurance is a type of life insurance policy that provides coverage for a certain period of time, or a specified term of years.
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- What is 'Life Insurance'. Life insurance is a protection against financial loss that would result from the premature death of an insured. The named beneficiary receives the proceeds and is thereby safeguarded from the financial impact of the death of the insured. The death benefit is paid by a life insurer in consideration for premium payments made by the insured.
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What is 'Accidental Death Benefit' DEFINITION of 'Accidental Death Benefit'. The payment due to the beneficiary of an accidental death insurance policy, which is often a clause or a rider connected to a life insurance policy. The accidental death benefit is usually an amount paid in addition to the standard benefit payable if the insured died of natural causes. Depending on the issuer of the policy, the accidental death benefit may extend up to a year after the initial accident occurred, so long as the accident led to the insured's death.
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What is term insurance? Term insurance is a type of life insurance policy that provides coverage for a certain period of time, or a specified term of years. If the insured dies during the time period specified in the policy and the policy is active - or in force - then a death benefit will be paid.
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Term Life Insurance â Get a Quote Term life insurance is the most straightforward form of protection. You generally pay premiums on a monthly or annual basis and your family is protected for that term..
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Term life insurance The simplest form of term life insurance is for a term of one year. The death benefit would be paid by the insurance company if the insured died during the one year term, while no benefit is paid if the insured dies one day after the last day of the one year term.erm insurance is the least expensive way to purchase a substantial death benefit on a coverage amount per premium dollar basis over a specific period of time.
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What Is Level Benefit Term Life Insurance? A level benefit term life insurance policy states that the death benefit will remain the same for the life of the policy. Term life insurance guarantees the premiums will remain fixed for a specific number of years (5, 10, 15, 20, 25, or 30 years).f you have or are considering what you refer to here as a level benefit term life insurance policy to meet your needs, then it means that for the life of the term the death benefit will not change.
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Accidental death and dismemberment insurance AD&D redirects here. For the updated version of the original 1974 Dungeons & Dragons rule set, see Advanced Dungeons & Dragons. In insurance, accidental death and dismemberment (AD&D) is a policy that pays benefits to the beneficiary if the cause of death is an accident. This is a limited form of life insurance which is generally less expensive. 1 Accidental death.
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Accidental Death and Dismemberment Life Insurance vs. Accidental Death and Dismemberment Insurance. AD&D insurance is different from term or permanent life insurance. Term life insurance is purchased for a defined period; if you die within that period, your family will receive the money from your life insurance policy.