Sentences with phrase «amount of the death benefit if»

This type of policy pays your beneficiary a fixed amount of death benefits if you die in an accident.

One of these is the fact many guaranteed acceptance life insurance policies will not pay out the full amount of the death benefit if the insured dies within the first two years of owning the policy.

Here, the named beneficiary will not receive the full amount of the death benefit if the insured dies within the first two or three years that the policy is in force.

This rider is an additional amount of death benefit if the insured dies due to accident.

This type of policy pays your beneficiary a fixed amount of death benefits if you die in an accident.

Not exact matches

Do ask yourself: If today I gave you a check in the amount of the death benefit of the life insurance policy you're considering, would you quit your job and work free for me until you die?

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.

To calculate the amount of the death benefit, Service Canada first calculates the amount that the CPP retirement pension is or would have been if the deceased was age 65 at the time of death.

If you need a large amount of coverage, simplified issue life insurance isn't ideal for you because most life insurance companies cap the death benefit at $ 100,000 (some companies offer as high as $ 500,000.)

If the beneficiary is a minor, another option is an «interest income» payout, which makes guaranteed payments toward the interest on the death benefit for a specified time — for example, until the minor comes of age — at which point the benefit amount becomes available to that beneficiary.

An accelerated death benefit allows a policyholder to receive an advance of the face amount if diagnosed with a terminal illness and given less than twelve months to live.

Use of the accelerated death benefit with permanent policies may increase countable assets if the amount advanced exceeds the cash surrender value.

So, if your financial situation changes over time and you want a greater amount of coverage, you would be able to increase your policy's death benefit without demonstrating your insurability.

Benefits increase 5X in case of accidental death If you die as the result of an accident (as defined in your policy) before age 85, your beneficiary will be eligible to receive five times your coverage amount.

If you pass away after and have borrowed against the cash value of your policy, the amount borrowed will be deducted from the death benefit.

Like traditional life insurance, the death benefit of a second - to - die policy can ensure your beneficiaries receive a minimum amount of money, even if savings and other retirement income is spent during the lives of you and your spouse.

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.

For example, if you have a pre-existing condition and want a $ 350,000 death benefit to cover your mortgage, you will only be able to get this amount of coverage through a term life insurance policy.

The Legalese «The Acceleration of Death Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rDeath Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rdeath benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rdeath of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.»

(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 incomIf 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 incomif 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.

So, if you had a $ 500,000 death benefit and your insurer capped the amount you could accelerate at «the lesser of $ 250,000 or 75 % of the policy's face value», you could request up to $ 250,000 while still living.

Given their intent, survivor life insurance policies can have incredibly high death benefits and you won't be limited if you need a fair amount of coverage.

If the loan has not been paid back at the time of death, the amount of the loan will be deducted from the death benefit amount.

If you need a large amount of coverage, simplified issue life insurance isn't ideal for you because most life insurance companies cap the death benefit at $ 100,000 (some companies offer as high as $ 500,000.)

If your intention is to build up cash savings to protect your loved ones in case something happens to you, the death benefit protection offered by cash value life insurance will typically provide them with a greater amount than the cash value of your account.

Back in the day, any form of flying was considered extremely hazardous and most life insurance companies would either force the applicant to pay an exorbitant amount or they would add an aviation exclusion clause to the policy, in other words, if you died as the result of a plane crash, your beneficiaries wouldn't receive the death benefit.

If you die within two years of buying your guaranteed life insurance policy, you don't get the full death benefit amount.

The repayments that you then make to your life insurance policy will usually have a low rate of interest — and, if you do not end up paying back these funds, the amount of the unpaid balance will be deducted from the death benefit that your beneficiary receives.

If the death benefit goes to your estate, probate proceedings could delay distributing the money, and the cost of probate could diminish the amount available to your heirs.

If you have an outstanding loan on your whole life insurance policy when you die, the death benefit that is paid out to your beneficiary (or beneficiaries) will be reduced by the unpaid amount of..

Here, if the annuitant were to die within the protected period, the enhanced death benefit will be the greater of the minimum benefit amount, less monthly income received, and the early death benefit.

For life insurance policies that pay death benefits in the form of a lifetime payout, the portion of the payout that is not subject to tax if the policy has no refund provision or stated time period guarantee which is determined by dividing the amount of the death benefit by the life expectancy of the beneficiary.

If the goal is to follow the MEC rules, then the wealth building strategy would be to maximize the amount of cash that can be deposited into the policy while maintaining the appropriate amount of death benefit.

However, it contains a Graded Death Benefit for the first two years — this means that if death occurs within the first two years of policy ownership, your beneficiaries will receive your accumulated premium payments and 10 % interest instead of the face amount of your poDeath Benefit for the first two years — this means that if death occurs within the first two years of policy ownership, your beneficiaries will receive your accumulated premium payments and 10 % interest instead of the face amount of your podeath occurs within the first two years of policy ownership, your beneficiaries will receive your accumulated premium payments and 10 % interest instead of the face amount of your policy.

They also may feature graded death benefits, meaning you won't receive the full benefit amount if you die during an initial period of time (usually the first year or two of the policy).

With this policy, you can only accelerate death benefits if you get a terminal illness and the amount is limited to $ 250,000 or 75 % of your death benefit (whichever is smaller).

So, for example, if you contracted cancer and needed a large amount of money to cover hospital bills and medication, you could choose to receive a portion of your policy's death benefit immediately in order to cover the expenses.

The death benefit coverage in force at December 31, 2011 (representing the amount payable if all of approximately 480,000 contractholders had submitted death claims as of that date) was approximately $ 5.4 billion.

For example, if 70 % of the death benefit is paid to the member's spouse and 30 % is paid to the member's brother, claim a tax deduction for the anti-detriment amount paid.

Over time, the savings component provided by the policy grows and the death benefit shrinks; if the policyholder dies after the cash value of the policy is fully realized, the entire amount paid comes from the cash value rather than the death benefit.

Similarly, this is why the employee is only paying the amount of applicable term insurance if they are only receiving access to the death benefit while the employer has access to cash values.

In addition to reducing the death benefit, if you want to surrender the policy or take a loan, the amount of funds available to you will be reduced.

If you need or want to stop paying premiums, you can use the cash value to continue your current insurance protection for a specified time or to provide a lesser amount of death benefit protection covering you for your lifetime.

If there are any loans against the life policy, then these amounts will reduce the face value of the death benefit when the insured passes away.

If you borrow against an existing policy to pay premiums on a new policy, death benefits payable under your existing policy will be reduced by the amount of any unpaid loan, including unpaid interest.

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.

By contacting our lawyer at Butler & Company we can explain THE EXACT AMOUNT of both funeral and death benefits immediately available to you if you provide us with some very minor details.

Common carrier death benefit provision — If the insured dies while on an airplane, train, or bus, this rider provides an additional death benefit equal to 100 % of the original face amount.

If you do have a loan outstanding on such a policy at the time of your death, this loan reduces the benefit amount to a beneficiary.

If, however, the insured lives past the first two or three years, and then he or she passes away, the entire amount of the stated death benefit will be paid out to the beneficiary.