Sentences with phrase «beneficiaries upon»

Many people want to name their children as the beneficiaries upon their death in this sort of situation.

Health insurers cover medical expenses; Property and Casualty insurers cover risks like accidents, injuries and theft; and Life insurers make a payment to beneficiaries upon the insured's death.

You will also need to decide whether you want a permanent policy that will build cash value over time, or a term policy that will simply provide a death benefit to your beneficiaries upon your passing.

Life insurance is a policy that offers a benefit to the designated beneficiaries upon the death of the policy holder.

In exchange for premium payments, the insurance company provides a lump - sum payment, known as a death benefit, to beneficiaries upon the insured's death.

Life insurance provides a lump sum payout to your beneficiary or beneficiaries upon your (the insured's) death.

The insurance company could legally deny paying your insurance claim to your beneficiaries upon your death, if it can be determined that your death was in any way caused by tobacco usage that you failed to disclose to the insurer on your application for coverage.

Life insurance is a contract between an insurer and a policyholder in which the insurer guarantees payment of a death benefit to named beneficiaries upon the death of the insured.

In addition to providing a payout to beneficiaries upon the policyholder's death, permanent life policies also accumulate cash value that can be borrowed against.

Thinking about life insurance as a contract, you agree to pay the insurance company to provide a certain amount of money to your beneficiaries upon your death.

This is a way to direct assets to younger beneficiaries upon the trustmaker's death.

You pay a premium for as long as you live, and a benefit will be paid to your beneficiaries upon your death.

IncentiveLife Legacy ® III is a flexible premium variable universal life insurance policy designed to provide cash to your beneficiaries upon your death so that they may use it to help preserve their quality of life.

SUCH FUNDS ARE GENERALLY PAID DIRECTLY TO YOUR DESIGNATED BENEFICIARIES UPON SETTLEMENT OF YOUR ESTATE.

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.

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.

If you have Long Term Care insurance it might pay you out for years if you qualify, leaving your Death Benefits intact for your beneficiaries upon your passing.

A withdrawal will reduce your cash value and surrender value by the amount of gross withdrawal, and will also reduce the face amount of the contract (the amount paid to beneficiaries upon the insureds death) by the amount of the withdrawal as well.

While life insurance has evolved to become a savings, investment, and tax optimization tool, the original and primary purpose is to provide a death benefit to beneficiaries upon the death of an insured.

Instead of purchasing a standard life insurance policy that pays out a death benefit to your beneficiaries upon your death, you can invest in an ILIT.

Life Insurance is an agreement between insurer and insured where insurer will pay a lump sum amount to the beneficiaries upon the death of the insured against the premium paid.

Exercising caution and using precise language when identifying beneficiaries enables a policyholder to avoid disputes between beneficiaries upon the insured's death.

The term «face value» in life insurance refers to the death benefit that is paid to beneficiaries upon the death of the insured.

Although an owner's choice to take a withdrawal from a policy may impact the benefit amount dispensed to beneficiaries upon the expiration of the insured, beneficiaries can neither prevent an owner from taking a policy loan nor compel him to pay back the funds withdrawn.

Death benefit riders and enhanced death benefit riders will pay out a lump sum to the annuitant's beneficiaries upon their death.

In exchange for premium payments, the insurance company presents a lump - sum payment, known as a death benefit to beneficiaries upon the event of the insured's death.

The policy will pay out the set death benefit tax free to your beneficiaries upon your passing (unless you have their Modified plan) which gives them the money to pay for your final expenses.

Life insurance securities provide finances for the named beneficiaries upon the policyholder's death.

The money you pay into the term life insurance is only available to your beneficiaries upon your death if you die during the term length.

Life insurance, or rather, standard life insurance, consists of a policy that is either permanent life insurance or term life insurance, with a death benefit paid to the beneficiaries upon the insurance holder's death.

With life insurance, a lump sum of money will be paid to your beneficiaries upon your death.

By purchasing life insurance, you gain the assurance that your insurer will pay a death benefit to your named beneficiaries upon your death (as long as your policy is still in force at that time).

The death benefit of a life insurance policy is the amount of money that is paid out to your beneficiaries upon your death and is determined by the life insurance contract.

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.»

Typically, Whole Life, the most common type of permanent insurance, not only serves to pay - out your beneficiaries upon your passing, but also has a current cash value that can be borrowed against or cashed - out anytime.

Life insurance is a type of insurance in which you pay a certain amount (premium payments) to a life insurance company and in exchange they agree to pay a lump - sum payment (the death benefit) to your beneficiaries upon your death.

The accumulated cash value of the policy will be paid out to beneficiaries upon the insured's death.

Life insurance will pay money to your beneficiaries upon death.

If you don't repay the loan plus interest, the amount will simply be deducted from the death benefit paid to your beneficiaries upon your death.

After the two years, the coverage becomes ordinary life coverage and the full death benefit would be paid to your beneficiaries upon your death.

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 death.

Voluntary life insurance is an optional benefit offered by employers, where an employee pays a monthly premium in return for cash paid to beneficiaries upon death.

If you have Long Term Care insurance it might pay you out for years if you qualify, leaving your Death Benefits in tact for your beneficiaries upon your passing.

And those with a cash refund would return residual funds to the policy beneficiaries upon death.

An important point to clarify is that your revocable living trust WILL PROVIDE asset protection for the YOUR BENEFICIARIES upon your death (or the death of the last grantor or trustor, i.e. creator, if a joint revocable living trust).

There are several topics related to taxes and annuities but for the sake of this article we will discuss compounding tax deferral, the taxation of Non-Qualified Annuity withdrawals, annuitization, Net Investment Income Tax (NIIT), and taxation to beneficiaries upon death.

As with other types of life insurance, you pay regular premiums to your insurance company, in exchange for which the insurance company will pay a specific benefit to your beneficiaries upon your death.

You pay a premium for as long as you live, and a benefit will be paid to your beneficiaries upon your death.

Please note that any outstanding loans will be subtracted from the death benefit paid to a beneficiary or beneficiaries upon your death.

IncentiveLife Legacy ® III is a flexible premium variable universal life insurance policy designed to provide cash to your beneficiaries upon your death so that they may use it to help preserve their quality of life.