Sentences with phrase «amount of the death benefit paid»

Should the modified death benefits option be chosen, there would be a limit on the amount of death benefit paid out during the first two years.

With the guaranteed acceptance coverage through Colonial Penn, if the insured dies within the first two years of coverage, then the amount of the death benefit paid out to the beneficiary will be reduced.

It is important to note that with this guaranteed issue policy, there is a reduced amount of death benefit paid out to the policy's named beneficiary if the insured dies within three years of purchasing the policy.

Not exact matches

The taxable amount would be the the death benefit minus the value of whatever was paid to you, as well as any amount paid in premiums since they acquired the policy.

Policyholders who can provide evidence of good health pay lower rates and qualify for bigger death benefit amounts compared to those who can not.

In case of occurrence of any of listed Critical illness, the Benefit (as chosen during inception) will be payable to you as a lump sum amount, irrespective of the death benefit payout option chosen, subject to policy being in force and all due premiums have beeBenefit (as chosen during inception) will be payable to you as a lump sum amount, irrespective of the death benefit payout option chosen, subject to policy being in force and all due premiums have beebenefit payout option chosen, subject to policy being in force and all due premiums have been paid.

Another thing to consider is that a mortgage life insurance policy is often written as a decreasing term policy, so the death benefit decreases over time, (just as your mortgage payoff amount decreases as you pay your monthly mortgage payments), but the premium remains the same over the life of the policy.

The taxable amount would be the the death benefit minus the value of whatever was paid to you, as well as any amount paid in premiums since they acquired the policy.

Colonial Penn's term and whole life insurance products don't require a medical exam and have a maximum death benefit of $ 50,000, meaning you'll typically pay higher premiums and won't be able to purchase a greater amount of coverage should your financial needs change.

Depending upon the type and the amount of the policy, a beneficiary will typically have several choices regarding how the death benefit from the policy will be paid — all at once, or over time from an annuity.

Whole life insurance will pay out a set amount of money to your beneficiaries when you die, called a «death benefit.»

Death Benefit: For QLACs with return of premium and / or death benefit riders, beneficiaries will receive any remaining value in the contract in the case of the annuitant's premature death, amounting to the difference between the initial premium paid and the cumulative income payments receDeath Benefit: For QLACs with return of premium and / or death benefit riders, beneficiaries will receive any remaining value in the contract in the case of the annuitant's premature death, amounting to the difference between the initial premium paid and the cumulative income payments reBenefit: For QLACs with return of premium and / or death benefit riders, beneficiaries will receive any remaining value in the contract in the case of the annuitant's premature death, amounting to the difference between the initial premium paid and the cumulative income payments recedeath benefit riders, beneficiaries will receive any remaining value in the contract in the case of the annuitant's premature death, amounting to the difference between the initial premium paid and the cumulative income payments rebenefit riders, beneficiaries will receive any remaining value in the contract in the case of the annuitant's premature death, amounting to the difference between the initial premium paid and the cumulative income payments recedeath, amounting to the difference between the initial premium paid and the cumulative income payments received.

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 income.

On top of the death benefit amount, this option allows any amount left in the policy fund to accumulate cash value and the total to be paid tax - free to the beneficiary.

A Single Premium policy is the one in which the premium amount is paid in lump sum at the beginning of the policy as a return for the death benefit which is guaranteed to be paid up until the death of the policyholder.

At death, the entire face amount, which is composed of the base death benefit and investment, is paid to the beneficiary tax - free.

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.

For DIAs with return of premium and / or death benefit riders, beneficiaries will receive any remaining value in the contract in the case of the annuitant's premature death, amounting to the difference between the initial premium paid and the cumulative income payments received.

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.

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 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..

Benefit: For life insurance, it is the amount of money specified in a life insurance contract to be paid to the beneficiary upon the death of the insured.

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.

The death benefit of a life insurance policy is the amount paid out upon the death of the insured, while cash value refers to the amount of funds in a permanent life insurance policy's cash account.

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

For example, some policies allow tax - free access to the amount of death benefit to pay for long - term care costs.

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

The amount of the benefit paid to MCAP will include the outstanding balance of the insured mortgage, plus accrued interest from the date of death to the date of claim settlement.

In return for a premium payment, an insurance company will pay out a stated amount of tax - free death benefit to a named beneficiary — assuming, of course, the policy is in - force when the insured passes away.

The face amount of coverage can go up to $ 20,000, and the full death benefit will be paid out after the insured has had the policy for a period of at least three years.

Paying back these loans is optional; however, any portion of the loan that is not repaid at the time of the insured's death will decrease the amount of death benefit proceeds that are paid out to the beneficiary.

This means that in many cases the full amount of death benefit will be paid upon the death of the insured without a waiting period.

The amounts to be paid represent the excess of the guaranteed death benefit over the values of contractholders» accounts.

When the individual dies, the employer receives a portion of the death benefit equal to the amount paid in premiums.

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.

However, the new fund must commence a death benefit income stream or pay the amount out of super as a lump sum (or a combination of these).

Once you decide on the amount of death benefits you want, the premium you pay is guaranteed for the life of the policy.

Alternatively, Sasha could partially commute the reversionary death benefit income stream, but she would have to pay the commuted amount as a lump sum out of the super system.

Section 279D of the ITAA 1936 allowed a deduction to a superannuation fund which paid a death benefit to a dependant of the deceased member where the fund increased the benefit to the amount that would have been paid had there been no tax on contributions.

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.

Death benefit A death benefit is the amount paid to the beneficiary at the time of the death of the insDeath benefit A death benefit is the amount paid to the beneficiary at the time of the death of the insdeath benefit is the amount paid to the beneficiary at the time of the death of the insdeath of the insured.

Some examples include accidental death benefit, which pays double the face amount for accidental deaths, and child term rider, which adds coverage to the child of the insured.

Life insurance policy is a contract between the insurers or insurance provider wherein a lump sum amount is promised as a death benefit to the beneficiary in the event of the policyholder's death, provided the policy was active and the premiums were paid till the insured's death.

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.

Death benefit amount: Highest of Base sum assured, Maturity sum assured or 105 % of all the premiums paid

Death benefit amount: Higher of basic sum assured + guaranteed additions, 10 X annualized premium and 105 % of premiums paid

Insurance companies make a tremendous amount of money from lapsed policies, after individuals pay premiums for years and then never collect a death benefit.