Sentences with phrase «beneficiaries on the death»

In contrast, a standard term life insurance policy pays your policy amount to beneficiaries on death.

A superannuation income stream that automatically reverts to a nominated beneficiary on the death of its current recipient.

Protect families of group members - Sum Assured is payable by the Company to the beneficiary on death of the Life Insured.

A reversionary beneficiary is the nominated dependant beneficiary of a superannuation income stream that automatically reverts to the nominated beneficiary on the death of the superannuation income stream recipient (member).

So it may depend on whether you have access to the funds directly or if you are just the beneficiary on death (meaning whoever set up the policy owns the cash value, not you)

While a will offers a way to ensure your assets pass to your chosen beneficiaries on death, not everyone dies with a will.

A life insurance policy will pay designated beneficiaries on the death of a covered individual.

In contrast, a standard term life insurance policy pays your policy amount to beneficiaries on death.

LIC Varishtha Pension Bima Yojana returns the purchase price to the beneficiary on death of the pensioner.

However some states may require separating spouses to buy life insurance naming their exes as beneficiaries on the death benefit to ensure their child (ren) are provided for no matter the outcome.

A life insurance contract is an agreement to pay your beneficiaries on your death.

Not exact matches

«Every withdrawal will include an earnings portion, meaning that if the owner makes a nonqualified withdrawal, he or she is going to pay a penalty tax on earnings unless the withdrawal qualifies for an exemption, such as the death or disability of the beneficiary,» he said.

The RMD amount is distributed to you as beneficiary in the year of death and must be based on the original owner's RMD schedule but is distributed under your tax ID number.

It is also important to realize that leaving the company may not be the only way you are leaving your account behind — an unexpected death without beneficiaries named on your account could mean the plan money gets distributed to your estate and can possibly incur unwanted tax implications.

Is His Blood a form of a Will not written on paper that testifies to His Body's Death that after the death of the testator His wealth is distributed to His beneficiaDeath that after the death of the testator His wealth is distributed to His beneficiadeath of the testator His wealth is distributed to His beneficiaries.

I / WE HEREBY RELEASE, WAIVE, DISCHARGE AND COVENANT NOT TO SUE the CHICAGO SPORT & SOCIAL CLUB, INC. («CSSC») and its affiliates (CSSC and its affiliates are referred to collectively as the «CLUB»), the sufficiency of which consideration is expressly acknowledged, and intending to be legally bound, do hereby, for myself, my heirs, executors, administrators, insurers, assigns, attorneys, representatives, agents, beneficiaries, legatees, representatives, successors, assigns and any other persons who may make claims on my behalf (collectively the «RELEASORS») OR ALL SPORTS SERIES / PARK DISTRICT OF HIGHLAND PARK / WINDY CITY FIELD HOUSE / CHICAGO PARK DISTRICT / FITNESS FORMULA CLUBS (FFC — UNION STATION) / URBANA PARK DISTRICT / MADISON PARKS ORGANIZATION / ABUNDANT LIFE CHRISTIAN SCHOOL / LANSING PARKS / CITY OF BLOOMINGTON / UNIVERSITY OF MICHIGAN / CHICAGO PUBLIC SCHOOLS — LAKE VIEW HIGH SCHOOL / CAMP OJIBWA / AUSTIN PARKS AND RECREATION facilities used by the participant, including its owners, managers, promoters, lessees of premises used to conduct the event or program, premises and event inspectors, underwriters, consultants and others who give recommendations, directions, or instructions to engage in risk evaluation or loss control activities regarding the CHICAGO SPORT & SOCIAL CLUB, INC. («CSSC») and its affiliates (CSSC and its affiliates are referred to collectively as the «CLUB»), the sufficiency of which consideration is expressly acknowledged, and intending to be legally bound, do hereby, for myself, my heirs, executors, administrators, insurers, assigns, attorneys, representatives, agents, beneficiaries, legatees, representatives, successors, assigns and any other persons who may make claims on my behalf (collectively the «RELEASORS») OR ALL SPORTS SERIES / PARK DISTRICT OF HIGHLAND PARK / WINDY CITY FIELD HOUSE / CHICAGO PARK DISTRICT / FITNESS FORMULA CLUBS (FFC — UNION STATION) / URBANA PARK DISTRICT / MADISON PARKS ORGANIZATION / ABUNDANT LIFE CHRISTIAN SCHOOL / LANSING PARKS / CITY OF BLOOMINGTON / UNIVERSITY OF MICHIGAN / CHICAGO PUBLIC SCHOOLS — LAKE VIEW HIGH SCHOOL / CAMP OJIBWA / AUSTIN PARKS AND RECREATION facilities or events held at such facility and each of them, their directors, officers, agents, employees, all for the purposes herein referred to as «Releasee»... FROM ALL LIABILITY TO THE UNDERSIGNED, my / our personal representatives, assigns, executors, heirs and next to kin FOR ANY AND ALL CLAIMS, DEMANDS, LOSSES OR DAMAGES AND ANY CLAIMS OR DEMANDS THEREFORE ON ACCOUNT OF ANY INJURY, INCLUDING BUT NOT LIMITED TO THE DEATH OF THE PARTICIPANT OR DAMAGE TO PROPERTY, ARISING OUT OF OR RELATING TO THE EVENT (S) CAUSED OR ALLEGED TO BE CAUSED IN WHOLE OR IN PART BY THE NEGLIGENCE OF THE RELEASEE OR OTHERWISon my behalf (collectively the «RELEASORS») OR ALL SPORTS SERIES / PARK DISTRICT OF HIGHLAND PARK / WINDY CITY FIELD HOUSE / CHICAGO PARK DISTRICT / FITNESS FORMULA CLUBS (FFC — UNION STATION) / URBANA PARK DISTRICT / MADISON PARKS ORGANIZATION / ABUNDANT LIFE CHRISTIAN SCHOOL / LANSING PARKS / CITY OF BLOOMINGTON / UNIVERSITY OF MICHIGAN / CHICAGO PUBLIC SCHOOLS — LAKE VIEW HIGH SCHOOL / CAMP OJIBWA / AUSTIN PARKS AND RECREATION facilities used by the participant, including its owners, managers, promoters, lessees of premises used to conduct the event or program, premises and event inspectors, underwriters, consultants and others who give recommendations, directions, or instructions to engage in risk evaluation or loss control activities regarding the CHICAGO SPORT & SOCIAL CLUB, INC. («CSSC») and its affiliates (CSSC and its affiliates are referred to collectively as the «CLUB»), the sufficiency of which consideration is expressly acknowledged, and intending to be legally bound, do hereby, for myself, my heirs, executors, administrators, insurers, assigns, attorneys, representatives, agents, beneficiaries, legatees, representatives, successors, assigns and any other persons who may make claims on my behalf (collectively the «RELEASORS») OR ALL SPORTS SERIES / PARK DISTRICT OF HIGHLAND PARK / WINDY CITY FIELD HOUSE / CHICAGO PARK DISTRICT / FITNESS FORMULA CLUBS (FFC — UNION STATION) / URBANA PARK DISTRICT / MADISON PARKS ORGANIZATION / ABUNDANT LIFE CHRISTIAN SCHOOL / LANSING PARKS / CITY OF BLOOMINGTON / UNIVERSITY OF MICHIGAN / CHICAGO PUBLIC SCHOOLS — LAKE VIEW HIGH SCHOOL / CAMP OJIBWA / AUSTIN PARKS AND RECREATION facilities or events held at such facility and each of them, their directors, officers, agents, employees, all for the purposes herein referred to as «Releasee»... FROM ALL LIABILITY TO THE UNDERSIGNED, my / our personal representatives, assigns, executors, heirs and next to kin FOR ANY AND ALL CLAIMS, DEMANDS, LOSSES OR DAMAGES AND ANY CLAIMS OR DEMANDS THEREFORE ON ACCOUNT OF ANY INJURY, INCLUDING BUT NOT LIMITED TO THE DEATH OF THE PARTICIPANT OR DAMAGE TO PROPERTY, ARISING OUT OF OR RELATING TO THE EVENT (S) CAUSED OR ALLEGED TO BE CAUSED IN WHOLE OR IN PART BY THE NEGLIGENCE OF THE RELEASEE OR OTHERWISon my behalf (collectively the «RELEASORS») OR ALL SPORTS SERIES / PARK DISTRICT OF HIGHLAND PARK / WINDY CITY FIELD HOUSE / CHICAGO PARK DISTRICT / FITNESS FORMULA CLUBS (FFC — UNION STATION) / URBANA PARK DISTRICT / MADISON PARKS ORGANIZATION / ABUNDANT LIFE CHRISTIAN SCHOOL / LANSING PARKS / CITY OF BLOOMINGTON / UNIVERSITY OF MICHIGAN / CHICAGO PUBLIC SCHOOLS — LAKE VIEW HIGH SCHOOL / CAMP OJIBWA / AUSTIN PARKS AND RECREATION facilities or events held at such facility and each of them, their directors, officers, agents, employees, all for the purposes herein referred to as «Releasee»... FROM ALL LIABILITY TO THE UNDERSIGNED, my / our personal representatives, assigns, executors, heirs and next to kin FOR ANY AND ALL CLAIMS, DEMANDS, LOSSES OR DAMAGES AND ANY CLAIMS OR DEMANDS THEREFORE ON ACCOUNT OF ANY INJURY, INCLUDING BUT NOT LIMITED TO THE DEATH OF THE PARTICIPANT OR DAMAGE TO PROPERTY, ARISING OUT OF OR RELATING TO THE EVENT (S) CAUSED OR ALLEGED TO BE CAUSED IN WHOLE OR IN PART BY THE NEGLIGENCE OF THE RELEASEE OR OTHERWISON ACCOUNT OF ANY INJURY, INCLUDING BUT NOT LIMITED TO THE DEATH OF THE PARTICIPANT OR DAMAGE TO PROPERTY, ARISING OUT OF OR RELATING TO THE EVENT (S) CAUSED OR ALLEGED TO BE CAUSED IN WHOLE OR IN PART BY THE NEGLIGENCE OF THE RELEASEE OR OTHERWISE.

(a) There are risks and dangers associated with participation in ALL SPORTS SERIES AND CHICAGO SPORT & SOCIAL CLUB, INC. («CSSC») and its affiliates (CSSC and its affiliates are referred to collectively as the «CLUB»), the sufficiency of which consideration is expressly acknowledged, and intending to be legally bound, do hereby, for myself, my heirs, executors, administrators, insurers, assigns, attorneys, representatives, agents, beneficiaries, legatees, representatives, successors, assigns and any other persons who may make claims on my behalf (collectively the «RELEASORS») events and activities which could result in bodily injury, partial and / or total disability, paralysis and death.

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.

The amount of the death benefit is called coverage, and the amount of coverage you need depends on your financial situation and the amount your beneficiaries need to survive without you.

Upon the death of the owner, the beneficiary may be liable for any taxes on the death benefit.

Banks and credit unions in the U.S. allow account holders to add pay - on - death beneficiaries to their accounts in order to avoid probate.

they are payable for the life of the member, or for the reversionary beneficiary's life on the death of the member

on death, the balance may be paid as a lump sum to a designated beneficiary, used to buy a further pension for a surviving spouse or may continue as a reversionary pension.

The «beneficiary» in this context doesn't mean the account goes to them on your death or their parents on your death.

Typically a married couple adds each other as the «Pay on Death» beneficiary designation for each bond purchase or you can add your children or whomever you desire as beneficiary.

Take life insurance as an example: you pay for a policy, and if you die during the term then that money (the death benefit) goes to the person you named as your beneficiary on the policy.

If you or your beneficiary elect an option other than lump sum, any interest accrued on the death benefit will be taxed.

TFSAs are a great way to pass on wealth to your heirs in a tax - efficient manner — not only will they avoid paying capital gains tax on the growth of your investments before your death, but if you designate them as beneficiaries, the money will bypass your will.

Liberty Bankers can not be responsible for tax consequences caused by incorrect beneficiary designations: death benefits will be paid to the beneficiary on record as of the date of the annuitant's death.

Your death benefit on your life insurance is not taxed to your beneficiary.

And the death benefit on a properly designed life insurance retirement plan increases each year as your cash value grows, so when you do die, your beneficiary receives the maximum death benefit possible.

Finally, many states have adopted transfer - on - death deeds (TODD) that allow you to transfer your real property to your designated beneficiaries upon your death.

CDs: Hold property in joint tenancy with right of survivorship (or as tenancy by the entirety if owners are spouses), transfer title to a revocable living trust, or name a payable - on - death beneficiary.

However, if your beneficiary receives the life insurance payment as a series of installments, the insurer will typically pay interest on the outstanding death benefit.

Parents will often request to have their life insurance death benefit paid in installments if their beneficiary is a young child or someone dependent on their income.

Money Market Accounts: Hold property in joint tenancy with right of survivorship (or as tenancy by the entirety if owners are spouses), transfer title to a revocable living trust, or name a payable - on - death beneficiary.

That $ 42,000 could be used to pay the premiums on a life insurance policy, on the trustmaker's life, with the death benefit to pass to the 3 beneficiaries.

The beneficiary for the accidental death insurance benefit on this product follows the automatic succession of: spouse, child (ren), parents, brothers and sisters, estate.

Use this form to designate or change your Transfer on Death beneficiary on your Franklin Templeton mutual fund account.

REALITY: Provided you haven't annuitized your contract, annuities offer a guaranteed * death benefit that would pass on to your beneficiaries.

Tax experts estimate that failure to claim the Income in Respect of Decedent (IRD) deduction can result in a tax rate of 80 % or more on the inherited amount, broken down to a combination of estate taxes paid by the deceased IRA owner and federal / local state taxes paid by the beneficiary who inherits the assets after the death of the IRA owner.

Regarding your next question, as an example, if there are two beneficiaries, each designated to receive 50 % of the death benefit, and one beneficiary has not yet filed, the life insurance company will sit on that beneficiary's portion until the rightful beneficiary comes forward and to claim the benefit.

Term life insurance is defined as a contract between the owner of the policy and the insurer, for a policy on the life of the insured, whereupon the insured's death, the insurer pays a lump sum death benefit to the beneficiary.

If you list more than one primary beneficiary on your application, you will be required to list what percentage of the death benefit each beneficiary is to receive.

That way, when your beneficiary sells your home, they are taxed based on how much it has appreciated from the value at the date of death, rather than your original purchase price.

A death put is an optional redemption feature on a debt instrument allowing the beneficiary of the estate of a deceased bondholder to put (sell) the bond back to the issuer at face value in the event of the bondholder's death or legal incapacitation.

If the policyholder dies during the term — and he or she has paid the premiums on time and the policy is in good standing — the beneficiaries listed in the policy will receive a death benefit.

In addition to capital gain, the fair market value of the RRSP or RRIF is also taxable on the surviving spouse's death, provided there is no qualified beneficiary.

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.

The person or entity that you name as beneficiary on your life insurance policy contract will receive the death benefit proceeds when you die.