The Death Benefit is based on: the Death Benefit Option in effect on the date of the Insured's death; any increases or decreases to the Face Amount; and the amounts, if any, payable under anyOptional InsuranceBenefit rider. Except as provided under Section 2(a)(i) of this Separation Ag...
Riders are optional features that you can add to a life insurance policy. They can provide extra coverage and protection, but they can also be expensive and unnecessary. That’s why it’s important to avoid riders you don’t need. One type of rider that is often unnecessary is the acciden...
event of total and permanent disability before the age of 60. Under thedisability income rider, should the insured become totally and permanently disabled, a monthly income will be paid. Under thedouble indemnity rider, if death occurs through accident, the insurance payable is double the face ...
For the purposes of this policy, the definition of e-bikes includes electric pedal-assist bicycles as approved by your applicablestate or federal legislation. Class 1: Equipped with a motor that helps you move only while pedaling. Once you reach 20 miles per hour, you're on your own and ...
If you shop for a disability policy, look for coverage that has a broad definition of disabled and that replaces a big enough portion of income, with a short waiting period, if any. Going without disability insurance can put you into a difficult situation. While...
The ROP on death rider is a low-cost way for the estate to recover the premiums paid over the life of the policy should death occur before an illness. Return of premium on expiry (or maturity) The ROP on expiry rider refunds all your premiums paid when the policy expires, which is age...
Please refer to the individual insurance policy brochure and/or policy/certificate of insurance for complete details about each insurance plan. Notes: In this document, wherever the term insurance company is mentioned, it actually means either the underwriting insurance company or the insurance ...
of insurance that supplements an employer’s self-insurance plan. If a company faces an extremely high number of claims in one year, an aggregate stop-loss policy will reimburse it for expenses that exceed the limit of its in-house loss reserves up to the coverage amount.See full definition...
Awaiver of premium ridercan be valuable, particularly when the premium on the policy is high. The definition of the term "totally disabled" may vary from one insurer to another, so be aware of the terms and conditions of your specific rider. 4. Family Income Benefit Rider In case the ins...
Accidental death and dismemberment (AD&D) insurance is insurance—usually added as a rider to a health orlife insurance policy—that covers the unintentional death or dismemberment of the insured. Dismemberment includes the loss, or the loss of use, of body parts or functions (such as limbs, ...