See..even I'd think its not possible for the carriers to return the premiums that have already been paid for. So, if the premium amounts are not getting reimbursed, then the carrier would do only one thing. It would automatically increase the worth of the death benefit that is worthy of all the premiums paid by you till that point of time. Yes, the death has to occur within the time frame mentioned within the rider. Evan
Posted: Wed Sep 10, 2008 12:53 pm Post Subject:
Hi all, I'd like to say something regarding the Cost of living rider!
This rider allows the policy holder to upgrade his death benefit to stay up to the cost of living index. There are 2 ways of going at
it.
* In case of any adjustable life policy the best way of doing it is by altering the face value of the policy.
* Through adding a mounting term rider with the policy.
I feel both these ways are quite logical. Fatman
Posted: Wed Sep 10, 2008 02:03 pm Post Subject:
Friends, I've heard about certain riders which when punched with our life insurance policies would cover for some additional people. These riders are generally Term insurance riders which are aimed to cover the insured's spouse, children & may be at times the rest of his/her family! Roddick
Posted: Wed Sep 10, 2008 02:20 pm Post Subject:
Has anyone heard of the living benefit riders?
These are better known as the accelerated benefit riders that offer death benefit to the policy holders even when they are alive.
But yeah, such policy holders have to fit into the following criteria-
a) They must have been terminally ill.
b) They must have been treated under a health care unit.
c) They may have needed long term care.
This coverage helps them pull back some of their financial loses inflicted by the mounting health care expenses.
Thanx, Fatman
Posted: Wed Sep 10, 2008 06:48 am Post Subject:
See..even I'd think its not possible for the carriers to return the premiums that have already been paid for. So, if the premium amounts are not getting reimbursed, then the carrier would do only one thing. It would automatically increase the worth of the death benefit that is worthy of all the premiums paid by you till that point of time. Yes, the death has to occur within the time frame mentioned within the rider. Evan
Posted: Wed Sep 10, 2008 12:53 pm Post Subject:
Hi all, I'd like to say something regarding the Cost of living rider!
This rider allows the policy holder to upgrade his death benefit to stay up to the cost of living index. There are 2 ways of going at
it.
* In case of any adjustable life policy the best way of doing it is by altering the face value of the policy.
* Through adding a mounting term rider with the policy.
I feel both these ways are quite logical. Fatman
Posted: Wed Sep 10, 2008 02:03 pm Post Subject:
Friends, I've heard about certain riders which when punched with our life insurance policies would cover for some additional people. These riders are generally Term insurance riders which are aimed to cover the insured's spouse, children & may be at times the rest of his/her family! Roddick
Posted: Wed Sep 10, 2008 02:20 pm Post Subject:
Has anyone heard of the living benefit riders?
These are better known as the accelerated benefit riders that offer death benefit to the policy holders even when they are alive.
But yeah, such policy holders have to fit into the following criteria-
a) They must have been terminally ill.
b) They must have been treated under a health care unit.
c) They may have needed long term care.
This coverage helps them pull back some of their financial loses inflicted by the mounting health care expenses.
Thanx, Fatman
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