Sentences with phrase «beneficiaries in a lump sum»

Cash Refund Annuity Income Payment Option Any type of income annuity that guarantees should the annuitant die prior to receiving payments equal to the premiums paid, the difference will be refunded to the named beneficiary in a lump sum.

Since life insurance claims are often distributed to beneficiaries in a lump sum (though other options are available), you may want to calculate how far into the future your spouse, children or other dependents may require your assistance.

Generally, life insurance death benefits that are paid out to a beneficiary in lump sum are not included as income to the recipient of the life insurance payout.

The 50 % Death Benefit guarantee means that regardless of what happens with the SPIA policy, one - half of the initial premium will go to the beneficiaries in a lump sum.

In short, when a person dies, the death benefit will be paid to the beneficiary in a lump sum or in parts.

In short, when a person dies, the death benefit will be paid to the beneficiary in lump sum or in parts.

Not exact matches

Specifically, individuals can make a lump - sum gift to a 529 plan of up to $ 65,000 ($ 130,000 for married couples) and avoid gift tax, provided the gift is treated as having been made in equal installments over a five - year period and no other gifts are made to that beneficiary during the five years.

A family income benefit rider provides steady income to beneficiaries to cover monthly costs beyond the lump - sum death benefit in the event the insured dies prematurely,.

Lump - sum benefit In the event of your death, your beneficiaries will receive a tax - free benefit.

Basically, the death benefit is how much the life insurance policy pays to your beneficiary, untaxed and in a single lump sum, should you die.

With a 529 plan, you could give $ 75,000 per beneficiary in a single year and treat it as if you were giving that lump sum over a 5 - year period.3 This approach can help an investor potentially make very large 529 plan contributions without eating into his or her lifetime gift - tax exclusion.

Death Benefit Protection — Your entire accumulated value will be paid to your beneficiaries, who can elect to receive their benefits in a lump sum or series of payments.

This election allows you to make a lump - sum contribution up to five times the annual exclusion amount of $ 75,000 per beneficiary in one year and elect to treat the contribution as if it was made ratably over five years avoiding federal gift tax liability, as long as you make no other gifts to the same beneficiary for the next five years.

If you are the beneficiary of a life insurance policy, you typically have two options for receiving your payout: in a lump sum or in installments.

In exchange for premium payments, a life insurance policy provides a tax - advantaged lump - sum payment, known as a death benefit, to the beneficiaries when the insured passes away.

You make payments on the policy and, in return, the insurance company provides a lump - sum payment, also called a death benefit, to the beneficiaries you have chosen upon the death of the insured.

When death occurs, the death benefit will be paid out to the beneficiary, generally in a lump sum payment.

Commutation Right: The right of a beneficiary to receive in a single lump - sum the remaining payments under an installment option which was selected for the settlement of the proceeds of life insurance policy.

A provision of 529 plans allows you to make a lump - sum gift to a beneficiary of up to $ 75,000 (up to $ 150,000 if you are married and file a joint tax return) in one year without creating a taxable gift.

Life insurance (also known as death cover) will pay a lump sum to your beneficiaries in the event of your death.

If the policyholder dies while the policy is in force, the coverage amount (grimly called a «death benefit») is paid out in one tax - free lump sum to the beneficiaries named in the policy.

In cases where there are multiple beneficiaries, the insurer will split the death benefit according to the instructions you've left in your contract, but otherwise still pay each recipient a lump suIn cases where there are multiple beneficiaries, the insurer will split the death benefit according to the instructions you've left in your contract, but otherwise still pay each recipient a lump suin your contract, but otherwise still pay each recipient a lump sum.

The beneficiary can elect to annuitize the death benefit over his / her life expectancy instead of taking it as a lump sum in some instances.

The benefit can be paid in installments or a lump sum, with the beneficiary receiving the balance of the insurance payout after the policyholder's death.

A premium is paid monthly to keep the policy active, covered in full or in part by the employer, and upon the death of the employee a lump sum of money, the death benefit, is paid out to a designated group or person known as the beneficiary.

Life Insurance is designed to pay out a lump sum to your relatives or other beneficiaries in the unfortunate even of your death, offering peace of mind and financial security at the most difficult of times.

Term life insurance is a kind of life insurance policy that covers you for a set period of time — not your whole life — and pays out a lump sum of money to your beneficiaries if you die while the policy is in effect.

These two contractual structures will ensure that you (or you and your spouse) will be paid for life, and the remaining money will go to your listed beneficiaries in full (lump sum with «Cash Refund» and in payments with «Installment Refund»).

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

If you have less than 10 years of creditable service or no eligible survivor, any contributions remaining in the retirement fund are paid in a lump sum (with interest) to your designated beneficiary or an individual in order of precedence as set by law.

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.

Premiums are the fixed periodic payment made to the insurance company in return of the lump sum payment offered by the insurer to the beneficiary at the time of demise of the insured person.

The benefit is payable to a designated beneficiary in the event of death by a lump sum of 4 x annual basic salary.

In some cases, the beneficiary of a family income rider may choose a lump sum rather than receiving monthly payments.

In the majority of cases, a named beneficiary will receive the death benefits as a lump sum payment and these proceeds are not subject to income tax.

That lump sum can then be invested in order to provide the income the beneficiaries will need to move on with their lives.

The benefits are paid in a lump sum and non-taxable, so beneficiaries are able to use proceeds as they wish.

Term life is a fully different type of policy from that of universal life (indexed or not), or whole life insurance, but the basic idea is the same; the customer pays regular premiums to the insurer and should he die while the policy is in force, the insurer is obligated to pay his beneficiary or beneficiaries a pre-determined lump - sum amount.

An insurance policy provides a tax - free lump sum to a named beneficiary that could be used towards funding college in the event of the death of a parent.

Yes, in most instances your named beneficiary will receive a non-taxable lump sum payment on your death benefits.

In exchange for paying premiums on a policy, the insurance company provides a lump - sum payment (far in excess of what you paid in), known as a death benefit, to beneficiaries upon the insured's deatIn exchange for paying premiums on a policy, the insurance company provides a lump - sum payment (far in excess of what you paid in), known as a death benefit, to beneficiaries upon the insured's deatin excess of what you paid in), known as a death benefit, to beneficiaries upon the insured's deatin), known as a death benefit, to beneficiaries upon the insured's death.

Life insurance benefits are usually paid out to beneficiaries in a one - time lump sum.

Commutation Right: The right of a beneficiary to receive in a single lump - sum the remaining payments under an installment option which was selected for the settlement of the proceeds of life insurance policy.

Life insurance policies often allow the option of having the proceeds paid to the beneficiary either in a lump sum cash payment or an annuity.

The benefit can be turned into a cash stream by your beneficiary rather than being paid in a lump sum.

Life insurance provides a lump sum of money to your chosen beneficiaries in the event of your death.

For example, in case of death, the beneficiaries can opt for lump - sum payment or monthly payment for up to 10 years.

In most cases, the beneficiary of the life insurance plan is going to receive the payout in a lump - sum, which means that they are going to get all of that money at one timIn most cases, the beneficiary of the life insurance plan is going to receive the payout in a lump - sum, which means that they are going to get all of that money at one timin a lump - sum, which means that they are going to get all of that money at one time.

In the event of the key employee's death, the policy's death benefit is payable to the company which can be used to provide continued supplemental benefits or to provide a lump sum benefit to the executive's named beneficiary.

In the event the executive dies, the life insurance policy death benefits are available to fund the plan and provide a lump sum benefit to the executive's beneficiary subject to the terms of the agreement.