Sentences with phrase «total lump sum benefit»

Not exact matches

At this point, the carrier will give you a lump sum payment equal to your total death benefit and end your policy.

If you receive one or more super member benefits that are super lump sums in an income year, the LRC amount is reduced for the next income year by the total of the amounts that both:

With a family income policy, rather than a lump sum of money, the death benefit is paid out in monthly increments as a portion of the total death benefit.

At this point, the carrier will give you a lump sum payment equal to your total death benefit and end your policy.

On the other hand though, since Tom did a File & Suspend at age 66, he could retroactively receive two years» worth of benefits, for a total of $ 48,000 in a lump sum.

Lump sum, where the life insurance company pays the total amount of the benefit in one single payment at the death of the insured

If the total value of your retirement phase interests exceeds the transfer balance cap and you only have a death benefit income stream, you can commute the excess as a lump sum.

PBGC normally pays a lump sum only if the total value of the benefit payable by PBGC is $ 5,000 or less at the plan termination date.

If your loved one was fatally injured at work, you may also be able to recover permanent total disability as death benefits for a period of time or in a lump sum amount.

Under the Illinois Workers» Compensation Act, you may also be entitled to wage loss benefits, a lump - sum payment or permanent total disability benefits.

This is materially different from a defined contribution plan, which provides an employee with a finite total amount or lump sum of retirement benefits.

Some factors that are considered by the provider are the type of business you are in, the benefit amount, the benefit period (monthly or lump sum), the elimination period, the definition of total disability, etc..

At this point, the carrier will give you a lump sum payment equal to your total death benefit and end your policy.

Along with this, a lump - sum benefit on death or diagnosis of Terminal Illness is paid and all future premiums are waived off in case of total permanent accidental disability.

On death of the life Assured during the policy term, total of the following becomes payable in lump sum: 100 % of Sum Assured, irrespective of survival benefits already paid plus accrued bonuses declared till death.

Under the Aspiration option for Maturity Benefit payout, lump sum is paid on Maturity which is the Sum Assured and Guaranteed Additions where the total benefit received is equal to 125 % ofBenefit payout, lump sum is paid on Maturity which is the Sum Assured and Guaranteed Additions where the total benefit received is equal to 125 % ofbenefit received is equal to 125 % of the SA

There is also an inbuilt Accidental benefit rider including total and permanent disability where a lump sum amount is paid on accidental death or disability

With a family income policy, rather than a lump sum of money, the death benefit is paid out in monthly increments as a portion of the total death benefit.

Let us understand the plan with the example of Mr. Ram Life Assured - Mr. Ram aged 35 years Plan Purchased - HDFC Life ProGrowth Plus (extra life option) Policy Term - 30 years Annual Premium - Rs 30,000 Sum Assured - Rs 7,00,000 Scenario A - Maturity Benefit: In case of his survival till maturity of the policy, the Total Fund Value as prevailing on the date of maturity is payable as a lump sum.

The lump sum is similar to the one - time benefit usually given by retirement plans because the lump sum will be given one time only, but it is the total amount of the death benefit left by the deceased individual's insurance policy.

Total benefit paid = Rs. 2.05 crores (Rs. 1 crore paid immediately + Rs. 1.75 lakhs for 60 months) In case of an accidental death of Ramesh, Sheetal will get an additional payout of Rs. 50 Lakhs as lump sum.

Option 1: Lump sum Amount on death: Guaranteed Death Benefit (The Guaranteed Death Benefit is the Sum Assured on Death which is the highest of Sum Assured or Maturity Sum Assured or 10 times the annual premium payable or 105 % of total premiums paid to date)

The lump sum benefit payable is higher of Sum Assured, 10 times of annualized premium, or 105 % of the total premiums paid.

In case the life insured is diagnosed with a critical illness (from a list of pre-defined critical illness covered under this benefit), a lump sum total of the guaranteed annual payouts, proportional to the premiums received, is paid out immediately to help with the treatment and other expenses.

In case the life insured is diagnosed with a critical illness (from a list of pre-defined critical illness covered under this benefit), a lump sum total of the Guaranteed Annual Payouts, proportional to the premiums received, is paid out immediately to help with the treatment and other expenses.

In case of an unfortunate demise of Ravi in the 70th policy year (at age 100 years), the nominee shall receive the lump sum death benefit of Rs. 7,00,035, which is higher of the Base Sum Assured and 105 % of total annualised premiums paid as on the date of death.