Sentences with phrase «beneficiaries upon the death of the policyholder»
Term life insurance pays out a lump sum of cash («death benefit») to the beneficiary upon the death of the policyholder.
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When you think of life insurance, you think of a death benefit being paid to a beneficiary upon the death of a policyholder.
Not exact matches
Life insurance pays a lump sum of cash (called a «death benefit») to the beneficiary upon the policyholder's death.
A death benefit is a payment to the beneficiary on an annuity, pension, or life insurance policy upon the death of the annuitant or policyholder.
A beneficiary is a person or entity entitles to receive claim amount and other benefits upon the death of the policyholder.
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.
Life insurance is a contract between a person or policyholder and an insurer or Insurance Company, where the insurer promises to pay a designated beneficiary a specified sum of money, upon the death of the insured, in exchange for a premium paid.
on life insurance policies release a sizable chunk of the policy's death benefit to the policyholder while he / she is still alive, allowing the usage of the death benefit funds on valid diagnosis of one of the critical or terminal illnesses stated in the policy.These riders» critical / terminal illness payout is tax - exempt, and beneficiaries also receive the left over face value, untaxed, upon the policyholder's passing.
If the policyholder elects not to have the benefit paid out immediately upon his death but instead held by the insurance company for a given period of time, the beneficiary may have to pay taxes on the interest generated during that period.
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.
the employee is informed in writing that an applicable policyholder will be a beneficiary of any proceeds payable upon the death of the employee.