Sentences with phrase «acts as a death benefit»

The most common kind of permanent life insurance is whole life, which acts as a death benefit but also has an investment component.

Not exact matches

Accidental death and dismemberment coverage can also act as a living benefit, as the dismemberment coverage provides a payout if you receive certain injuries in an accident.

Even though alcoholism ranks as one of the country's three major health problems, along with cancer and heart disease; even though it accounts for approximately 98,000 deaths every year; even though it is the root cause of most pastoral - care crises (suicides, auto fatalities, child abuse, divorces, hospital admissions, accidental deaths and home violence); even though it costs the nation $ 120 billion annually in terms of lost work time, health and welfare benefits, property damage, medical expenses, insurance and lost wages; and even though its effects impair the educational process of every child in every classroom, still the church acts as though alcoholism does not exist.

It basically acts as a chronic illness rider, allowing you to tap into your policy's death benefit if you are diagnosed with a qualifying chronic illness.

Accidental death and dismemberment coverage can also act as a living benefit, as the dismemberment coverage provides a payout if you receive certain injuries in an accident.

(o) If there is no person who would be entitled, upon application therefor, to an annuity under section 2 of the Railroad Retirement Act of 1974 [98], or to a lump - sum payment under section 6 (b) of such Act, with respect to the death of an employee (as defined in such Act), then, notwithstanding section 210 (a)(9)[99] of this Act, compensation (as defined in such Railroad Retirement Act, but excluding compensation attributable as having been paid during any month on account of military service creditable under section 3 of such Act if wages are deemed to have been paid to such employee during such month under subsection (a) or (e) of section 217 of this Act) of such employee shall constitute remuneration for employment for purposes of determining (A) entitlement to and the amount of any lump — sum death payment under this title on the basis of such employee's wages and self — employment income and (B) entitlement to and the amount of any monthly benefit under this title, for the month in which such employee died or for any month thereafter, on the basis of such wages and self — employment income.

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.

As per Insurance Laws (Amendment) Act, 2015 — If an immediate family member such as spouse / parent / child is made as the nominee, then the death benefit will be paid to that person and other legal heirs will not have a claim on the moneAs per Insurance Laws (Amendment) Act, 2015 — If an immediate family member such as spouse / parent / child is made as the nominee, then the death benefit will be paid to that person and other legal heirs will not have a claim on the moneas spouse / parent / child is made as the nominee, then the death benefit will be paid to that person and other legal heirs will not have a claim on the moneas the nominee, then the death benefit will be paid to that person and other legal heirs will not have a claim on the money.

A recent report by the US Environmental Protection Agency... found that cutting pollution through the Clean Air Act prevented 160,000 premature deaths in 2010 as well as over 1.7 million asthma attacks last year — benefits that would be lost if these politically motivated bills and amendments were to pass.

The Act also provides compensation for medical treatment, supplies, incidental costs of travel, and other needs, as well as benefits for the employee's dependents if the injury results in death.

Some whole life and current assumption universal life policies with a level death benefit, when the maximum premium is paid, can also act as a policy with a no - lapse guarantee.

This act allows the court to decide that the life policy proceeds are paid as if the insured outlived the primary beneficiary and if a secondary beneficiary is named, he or she will receive the death benefit proceeds.

Premium paid, maturity benefit, death benefit and surrender benefit are eligible for tax benefits as per extant Income Tax Act, subject to the provision stated therein.

Tax benefits are available on the premium paid and Death Benefit as per sections 80 (C) and 10 (10D) of the Income Tax Act.

Tax benefits are available on the premium paid and Death and Maturity Benefits as per sections 80 (C) and 10 (10D) of the Income benefits are available on the premium paid and Death and Maturity Benefits as per sections 80 (C) and 10 (10D) of the Income Benefits as per sections 80 (C) and 10 (10D) of the Income Tax Act.

Accidental death and dismemberment coverage can also act as a living benefit, as the dismemberment coverage provides a payout if you receive certain injuries in an accident.

In addition to a death benefit, whole life insurance also has a cash - value component that acts as a type of savings account.

The death benefit from a life insurance policy can act as income replacement and help pay a variety of bills and costs associated with death, such as:

When a death occurs — we hope for one due to old age, but dead is dead, and the company pays (except suicide in the first one or two years, or one of the few exclusions that may be in the policy, such as war or act of war, military service, flying an airplane, or certain hazardous occupations or hobbies — many policies only have the suicide exclusion), you can think of the death benefit in one of two ways.

So long as the employer complies with the new rules (adopted in 2006 and characterized as the «COLI Best Practices Act»), however, the tax - free nature of the death benefits and the tax deferral on earnings credited to policy value remain.

Additionally, you may elect to purchase the policy so that a level death benefit is purchased and the cash value accumulates «on top of» or in addition to the death benefit or you may choose to purchase a level death benefit in which the cash value acts as a reserve against the death benefit (thus lowering the actual cost you pay for the death benefit over time).

G.S.R. 9 (E) dated January 8, 2011, the EDLI benefit on death of an employee, who is a member of the Fund or of a Provident Fund exempted under Section 17 of the Act, as the case may be and who was in employment for a continous period of twelve months, preceding the month in which he died, shall be higher of:

The living benefit acts as a type of «lien» against the life insurance policy, thereby reducing the overall death benefit that is eventually paid out to your beneficiaries upon death.

(However, as per Insurance Laws (Amendment) Act, 2015 — If an immediate family member such as spouse / parent / child is made as the nominee, then the death benefit will be paid to that person and other legal heirs will not have a claim on the money)

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.

Depending on the type of plan, an endowment plan can act as an investment for the policyholder's own use or can benefit the beneficiaries upon the unfortunate death of the policyholder.

Income tax benefit on the premium paid as per Section 80CCC of the Income Tax Act, on the commuted part under Section 10 (10A) and on the death benefit under Section 10 (10D)

Double tax benefits: One major advantage of endowment plans is that they offer tax benefits as per the Income Tax Act, under Section 80C on the annual premium, and under Section 10D on the death benefit.

Income tax benefit on the premium paid as per Section 80CCC and on the death benefit under Section 10 (10D) of the Income Tax Act.

Paid - up insurance additions are a way to «reinvest» as they act like a small addition to your existing whole life insurance policy, increasing the death benefit and cash value.

The additional death benefit acts as an extra layer of payment in the event that a predefined situation occurs.

Premiums paid under this policy, qualify for the tax benefits as per Section 80C and the death benefit qualify for tax benefits under section 10 (10D) of the Income Tax Act.

Death benefit is entitled for tax benefits as per Section 10 (10D) of the Income Tax Act.

The whole life policy essentially has two values: the face value, or death benefit, and the cash value that acts as a savings account.

Premiums paid towards this policy, qualify for the tax benefits as per Section 80C and the death benefit qualify for tax benefits under section 10 (10D) of the Income Tax Act.

Tax Exemption u / s 10 (10D): The policy proceeds such as death benefit, maturity benefit, bonus (if any) under a child plan, not only offers financial assistance to your child, it also provides tax exemptions on policy payouts under section 10 (10D) of the Income Tax Act.

Premiums paid is eligible for tax benefits as per Section 80C and the death / maturity benefit qualify for tax benefits under section 10 (10D) of the Income Tax Act.

Premiums paid under this plan, qualify for the tax benefits as per Section 80C and the death benefit qualify for tax benefits under section 10 (10D) of the Income Tax Act.

Act of war exclusions protect insurance companies from having to pay death benefits to beneficiaries if the insured person dies as an act of wAct of war exclusions protect insurance companies from having to pay death benefits to beneficiaries if the insured person dies as an act of wact of war.

Benefits described in Section 39 (1) of the Social Welfare Consolidation Act 2005 (as amended) are as follows: Illness Benefit; Partial Capacity Benefit; Maternity Benefit; Health and Safety Benefit; Adoptive Benefit; Jobseeker's Benefit; Occupational Injuries Benefit comprising injury benefit, disablement benefit and death benefit; Carer's Benefit; State Pension Contributory; State Pension Transition; Invalidity Pension; Widow's, Widower's, Surviving Civil Partner's Contributory Pension; Guardian's Payment Contributory; Bereavement Grant; Widowed or Surviving Civil Partner Grant paid by virtue of receipt of a benefit under Part 2 Treatment Benefit under Section 138 of the aboBenefit; Partial Capacity Benefit; Maternity Benefit; Health and Safety Benefit; Adoptive Benefit; Jobseeker's Benefit; Occupational Injuries Benefit comprising injury benefit, disablement benefit and death benefit; Carer's Benefit; State Pension Contributory; State Pension Transition; Invalidity Pension; Widow's, Widower's, Surviving Civil Partner's Contributory Pension; Guardian's Payment Contributory; Bereavement Grant; Widowed or Surviving Civil Partner Grant paid by virtue of receipt of a benefit under Part 2 Treatment Benefit under Section 138 of the aboBenefit; Maternity Benefit; Health and Safety Benefit; Adoptive Benefit; Jobseeker's Benefit; Occupational Injuries Benefit comprising injury benefit, disablement benefit and death benefit; Carer's Benefit; State Pension Contributory; State Pension Transition; Invalidity Pension; Widow's, Widower's, Surviving Civil Partner's Contributory Pension; Guardian's Payment Contributory; Bereavement Grant; Widowed or Surviving Civil Partner Grant paid by virtue of receipt of a benefit under Part 2 Treatment Benefit under Section 138 of the aboBenefit; Health and Safety Benefit; Adoptive Benefit; Jobseeker's Benefit; Occupational Injuries Benefit comprising injury benefit, disablement benefit and death benefit; Carer's Benefit; State Pension Contributory; State Pension Transition; Invalidity Pension; Widow's, Widower's, Surviving Civil Partner's Contributory Pension; Guardian's Payment Contributory; Bereavement Grant; Widowed or Surviving Civil Partner Grant paid by virtue of receipt of a benefit under Part 2 Treatment Benefit under Section 138 of the aboBenefit; Adoptive Benefit; Jobseeker's Benefit; Occupational Injuries Benefit comprising injury benefit, disablement benefit and death benefit; Carer's Benefit; State Pension Contributory; State Pension Transition; Invalidity Pension; Widow's, Widower's, Surviving Civil Partner's Contributory Pension; Guardian's Payment Contributory; Bereavement Grant; Widowed or Surviving Civil Partner Grant paid by virtue of receipt of a benefit under Part 2 Treatment Benefit under Section 138 of the aboBenefit; Jobseeker's Benefit; Occupational Injuries Benefit comprising injury benefit, disablement benefit and death benefit; Carer's Benefit; State Pension Contributory; State Pension Transition; Invalidity Pension; Widow's, Widower's, Surviving Civil Partner's Contributory Pension; Guardian's Payment Contributory; Bereavement Grant; Widowed or Surviving Civil Partner Grant paid by virtue of receipt of a benefit under Part 2 Treatment Benefit under Section 138 of the aboBenefit; Occupational Injuries Benefit comprising injury benefit, disablement benefit and death benefit; Carer's Benefit; State Pension Contributory; State Pension Transition; Invalidity Pension; Widow's, Widower's, Surviving Civil Partner's Contributory Pension; Guardian's Payment Contributory; Bereavement Grant; Widowed or Surviving Civil Partner Grant paid by virtue of receipt of a benefit under Part 2 Treatment Benefit under Section 138 of the aboBenefit comprising injury benefit, disablement benefit and death benefit; Carer's Benefit; State Pension Contributory; State Pension Transition; Invalidity Pension; Widow's, Widower's, Surviving Civil Partner's Contributory Pension; Guardian's Payment Contributory; Bereavement Grant; Widowed or Surviving Civil Partner Grant paid by virtue of receipt of a benefit under Part 2 Treatment Benefit under Section 138 of the abobenefit, disablement benefit and death benefit; Carer's Benefit; State Pension Contributory; State Pension Transition; Invalidity Pension; Widow's, Widower's, Surviving Civil Partner's Contributory Pension; Guardian's Payment Contributory; Bereavement Grant; Widowed or Surviving Civil Partner Grant paid by virtue of receipt of a benefit under Part 2 Treatment Benefit under Section 138 of the abobenefit and death benefit; Carer's Benefit; State Pension Contributory; State Pension Transition; Invalidity Pension; Widow's, Widower's, Surviving Civil Partner's Contributory Pension; Guardian's Payment Contributory; Bereavement Grant; Widowed or Surviving Civil Partner Grant paid by virtue of receipt of a benefit under Part 2 Treatment Benefit under Section 138 of the abobenefit; Carer's Benefit; State Pension Contributory; State Pension Transition; Invalidity Pension; Widow's, Widower's, Surviving Civil Partner's Contributory Pension; Guardian's Payment Contributory; Bereavement Grant; Widowed or Surviving Civil Partner Grant paid by virtue of receipt of a benefit under Part 2 Treatment Benefit under Section 138 of the aboBenefit; State Pension Contributory; State Pension Transition; Invalidity Pension; Widow's, Widower's, Surviving Civil Partner's Contributory Pension; Guardian's Payment Contributory; Bereavement Grant; Widowed or Surviving Civil Partner Grant paid by virtue of receipt of a benefit under Part 2 Treatment Benefit under Section 138 of the abobenefit under Part 2 Treatment Benefit under Section 138 of the aboBenefit under Section 138 of the above Act;