Sentences with phrase «access to the death benefit in»

However, the Transamerica Trendsetter LB policy will cost $ 542 per year and offers full access to death benefits in her lifetime in addition to $ 100,000 in traditional coverage!

Transamerica, an A + rated company founded in 1904, offers unique options, with a few of their term life products, such as Living Benefits for early access to death benefits in the case of terminal or chronic illness; Income Protection Options to allow customers to select from a combination of income stream and lump sum payouts for beneficiaries; no required medical exams for policy amounts below $ 250,000; and low, $ 25,000 minimum face amount requirements.

Not exact matches

¹ Access to cash values through borrowing or partial surrenders will reduce the policy's cash value and death benefit, increase the chance the policy will lapse, and may result in a tax liability if the policy terminates before the death of the insured.

If you have already accumulated assets, you can subtract the amount of those assets from your total death benefit need, assuming they are somewhat liquid and wouldn't require a large amount of effort or loss in order to gain access to cash.

It gives you access to a portion of your policy's death benefit, if you are diagnosed with a terminal illness resulting in 12 - 24 months or less to live.

Accelerated Access Rider Allows insured to accelerate a portion of their life insurance death benefit in the event they are diagnosed with a chronic or critical illness that meets certain eligibility requirements.

Had the individual purchased permanent life insurance, he or she could have access to a potentially significant source of supplemental retirement income in the future (depending on the policy type), while preserving the death benefit in perpetuity (note, however, that the death benefit and cash value of a policy is reduced in the event of a loan or partial surrender, and the chance of lapsing the policy increases).

It gives you access to a portion of your policy's death benefit, if you are diagnosed with a terminal illness resulting in 12 months or less to live.

Accelerated Access Rider Allows insured to accelerate a portion of their life insurance death benefit in the event they are diagnosed with a chronic or critical illness that meets certain eligibility requirements.

However, keep in mind that if your estate is named the beneficiary, access to the death benefit proceeds is delayed because the money must go through probate.

It gives you access to a portion (or full amount) of your policy's death benefit, if you are diagnosed with a terminal illness resulting in six months or less to live.

On the protection side, it generally includes a tax - free death benefit to your loved ones and has an optional feature that gives you the ability to access your policy values to help pay for costs should the insured suffer from a chronic or terminal illness, just in case.

It gives you access to a portion of your policy's death benefit, if you are diagnosed with a terminal illness resulting in 12 - 24 months or less to live.

If you are diagnosed as terminally ill with 12 months to live, the rider will allow you to access your death benefit payout in advance.

If you are diagnosed as chronically ill, typically requiring that you be unable to perform 2 of 6 activities of daily living, you can access a portion of your death benefit in advance.

But what you gain is insurance that acts as an asset and that will grow in cash value and death benefit over time and allow you easy access to the funds for investments, paying off debt, or retirement planning.

An accelerated death benefit (ADB) payout allows the insured to access a portion of the death benefit in advanced if he or she is diagnosed withe a qualifying terminal illness or chronic illness.

In the event you become terminally ill, this rider will allow you to access part or all of the death benefit cash and use it to pay for certain expenses like medical care.

Whole life insurance — a type of permanent policy — may be an option for people looking for a death benefit in addition to cash value that can be accessed while they are living.

There are also living benefits associated with some policies where if you get diagnosed with cancer, heart attack or stroke — you have access to your death benefit to assist you in paying medical and living expenses.

In addition to providing a guaranteed death benefit for life, typically with guaranteed level premiums for life, whole life policies develop significant guaranteed cash values over time which the policyholder can access.

The cash value accumulates tax deferred, you can access the cash value tax free (up to the cost basis ̶ the amount paid in policy premiums), and the death benefit from your policy is generally paid out to your heirs income tax free.

When determining who will have access to the cash value, it is important to identify the various goal of the split dollar plan and these are summarized in the questions of death benefit and control over the policy.

On the protection side, it generally includes a tax - free death benefit to your clients» loved ones and has an optional feature that gives them the ability to access their policy values to help pay for costs should the insured suffer from a chronic or terminal illness, just in case.

It gives you access to a portion of your policy's death benefit if you are diagnosed with a terminal illness resulting in 24 months or less to live.

It gives you access to a portion of your policy's death benefit, if you are diagnosed with a terminal illness resulting in six months or less to live.

Allows the policyholder to access the death benefit early in to pay for medical expenses in the case of terminal illness.

This broke the chain of causation between Mrs Staveley's decision not to access the funds herself, and the transfer of death benefits to her sons in line with her letter of wishes.

In exchange for this uncomplicated access to no - fault benefits, the injured party can sue only in the case of serious injury, disfigurement, or deatIn exchange for this uncomplicated access to no - fault benefits, the injured party can sue only in the case of serious injury, disfigurement, or deatin the case of serious injury, disfigurement, or death.

However, the Transamerica Trendsetter LB policy would cost $ 542 / year and would offer, in addition to $ 100,000 in death benefits, full access to her death benefits during her lifetime.

This rider provides you access to a portion of your death benefit, if you reach a stage in life where you require A Long Term Care (LTC).

Advance access for illness — If you've been diagnosed with a terminal illness, level - term life insurance may be able to provide up to 50 % of your policy's death benefit ($ 250,000 maximum) in advance.

How a chronic illness rider works is the policy owner can access a portion of their death benefit in a lump sum to cover expenses.

In addition to providing a guaranteed death benefit for life, typically with guaranteed level premiums for life, whole life policies develop significant guaranteed cash values over time which the policyholder can access.

In the event that you are diagnosed with a chronic or terminal illness after the two year graded benefit period, included riders in the policy allow for you to access portions of the death benefits early to help offset additional costs that arise due to your conditioIn the event that you are diagnosed with a chronic or terminal illness after the two year graded benefit period, included riders in the policy allow for you to access portions of the death benefits early to help offset additional costs that arise due to your conditioin the policy allow for you to access portions of the death benefits early to help offset additional costs that arise due to your condition.

The benefit to this is that because you are in charge of the policy on your spouse, you know you are financially protected should the unexpected occur and you have easy access to all the information required to receive the death benefit.

In the event you become terminally ill, this rider will allow you to access part or all of the death benefit cash and use it to pay for certain expenses like medical care.

Older adults might not have their needs fully covered with health insurance, and while some life insurance policies come with riders that let policyholders access the death benefit early in cases of terminal illness, it won't be available to them to cover long - term care services like nursing homes or at - home care.

Also, consider adding policy riders that will allow you to access the policy death benefit in the event of a terminal illness or even convert a portion of your term policy into a permanent policy (such as whole life or universal life).

Some plans allow policyholders in certain circumstances to access their own death benefits while they're still alive, though it can be tricky and costly.

Mutual of Omaha, an A + rated company founded in 1909, offers competitive underwriting for a range of health conditions, including high limits for accelerated death benefits, allowing those who have been diagnosed with terminal illness to access a portion of their policy's death benefit while still alive.

With the Flexible Care Benefit Rider from State Farm Life Insurance Company (Not licensed in MA, NY or WI), when you become chronically ill and are eligible to receive benefits, you can access a portion of the policy's death benefit everyBenefit Rider from State Farm Life Insurance Company (Not licensed in MA, NY or WI), when you become chronically ill and are eligible to receive benefits, you can access a portion of the policy's death benefit everybenefit every month.

In short, if an insured has been legally declared terminally ill, with a time frame of 12 - 24 months or less, they will be granted access to a portion of the death benefit proceeds while they are still alive.

If you have already accumulated assets, you can subtract the amount of those assets from your total death benefit need, assuming they are somewhat liquid and wouldn't require a large amount of effort or loss in order to gain access to cash.

Access to cash should be limited or not used at all, because the cash growth in the beginning stages of the policy are used to offset the rising costs of the death benefit in the later years.

It gives you access to a portion of your policy's death benefit, if you are diagnosed with a terminal illness resulting in six months or less to live.

¹ Access to cash values through borrowing or partial surrenders will reduce the policy's cash value and death benefit, increase the chance the policy will lapse, and may result in a tax liability if the policy terminates before the death of the insured.

It gives you access to a portion of your policy's death benefit if you are diagnosed with a terminal illness resulting in 24 months or less to live.

While living, you can count on level premiums, level (or growing) death benefits, cash growth in a tax advantaged way, access to that cash when needed or intended, additional dividends or even growth through stock markets, and more.

Had the individual purchased permanent life insurance, he or she could have access to a potentially significant source of supplemental retirement income in the future (depending on the policy type), while preserving the death benefit in perpetuity (note, however, that the death benefit and cash value of a policy is reduced in the event of a loan or partial surrender, and the chance of lapsing the policy increases).