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

A family income policy distributes the death benefit to your beneficiaries in monthly installments for a set period after you die, rather than in one lump sum.

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

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

A family income rider is an add-on to a life insurance policy that provides money equal to a policyholder’s monthly income to beneficiaries, should the policyholder die.

Which type of life policy contains a monthly mortality charge as well as?

Which type of life policy contains a monthly mortality charge as well as self-directed investment choices? Variable Universal Life is comprised of monthly mortality charges and self directed investment choices.

What type of insurance incorporates flexible premiums and an adjustable death benefit?

Like said above, universal life insurance policy has flexible premiums and adjustable death benefits, this means that the policyholder is free to have an adjustable amount of coverage along with premiums that they can manage overtime.

Which type of policy allows for flexible premiums and an adjustable death benefit?

Variable universal life insurance products feature the same investment opportunity plus more. These whole life policies allow for the investment of its cash value, as well as flexible premiums and a flexible death benefit.

What does specified amount mean on life insurance policy?

Life insurance is an agreement in which an insurance company agrees to pay a specified amount after the death of an insured party, as long as the premiums are paid and up to date. This amount is called a death benefit.

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

Endowment insurance
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 are two different types of dollar amounts specified in an insurance policy?

The policy will state the premium and deductible amounts. A premium is the fee paid to the insurer to be covered under the specified terms. A deductible is the amount paid out of pocket by the policy holder for the initial portion of a loss before the insurance coverage begins.