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Graded death benefit: Often found in final expense and guaranteed issue policies, a graded death benefit has a waiting period before the full benefit is available. For example, if the insured ...
Graded death benefit period: For guaranteed issue policies, the full death benefit may only be available if the policyholder dies after a specific period, known as the graded death benefit period ...
One common reduction is called a graded death benefit, which lowers the benefit if the policyholder dies just a short time after taking out the policy. The specific length of time depends on state ...
Whole life insurance, or whole of life assurance (in the Commonwealth of Nations), sometimes called "straight life" or "ordinary life", is a life insurance policy which is guaranteed to remain in force for the insured's entire lifetime, provided required premiums are paid, or to the maturity date. [1] As a life insurance policy it represents a ...
Annuities in the United States. In the United States, an annuity is a financial product which offers tax-deferred growth and which usually offers benefits such as an income for life. Typically these are offered as structured (insurance) products that each state approves and regulates in which case they are designed using a mortality table and ...
Terminal illness insurance. Terminal illness insurance (known as accelerated death benefit in North America) pays out a capital sum if the policyholder is diagnosed with a terminal illness from which the policyholder is expected to die within 12 months of diagnosis by a physician who specializes in that illness or condition. It is a form of ...
Graded death benefit policies: Policies like guaranteed issue life insurance often have a graded death benefit period, typically the first two years. During this period, if the insured dies from ...
Welfare in America. In the United States, the federal and state social programs including cash assistance, health insurance, food assistance, housing subsidies, energy and utilities subsidies, and education and childcare assistance. Similar benefits are sometimes provided by the private sector either through policy mandates or on a voluntary basis.