Sentences with phrase «beneficiary does»

When the insured dies, the beneficiary doesn't get the death benefit plus the cash value.

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In the event that one policy pays off in full the other policy is prorated by the other so that the beneficiary doesn't receive the full payout amount for the second ploicy..

If the beneficiary of a policy has died, the estate of the beneficiary can still collect the insurance payment, assuming that the beneficiary does have an heir or heirs of some kind (as most people do).

A contingent or secondary beneficiary will receive the proceeds if the primary beneficiary does not outlive the insured.

When the policy lapses, the beneficiary does not receive the death benefit payment.

The designation of a life insurance beneficiary does not always come without controversy.

In case the policyholder dies during the term of the plan, the policy continues, the nominee / beneficiary doesn't have to pay any further premiums and at the time of maturity, the sum assured and other benefits as promised in the insurance policy are paid to the child.

As we mentioned above, the beneficiary does not need to be a family member or even a human being — it can be a trust fund, or a non-profit organization, or a business partner.

Your contingent beneficiary (alternate) receives the death benefit when your beneficiary does not survive your death.

Another knock on whole life and permanent life insurance in general is your beneficiary does not get your cash value and death benefit.

If the insured is alive at the end of your term period, then the beneficiary does not receive the payout of the death benefit.

Your beneficiary does not pay federal income taxes on the death benefit received.

Income to the beneficiary does not typically face income tax.

When evaluating a life insurance application, if the prospective beneficiary does not appear to have a legitimate insurable interest, the insurance company will request an explanation of the relationship.

Sometimes known as supplemental needs trusts, these trusts are most useful when the beneficiary does not have the legal capacity to handle their own finances or care.

Technically a beneficiary does not have to do anything to receive your policy's death benefit, but it's a good idea to make sure he or she is aware that the policy exists in case there are any delays or complications on the insurer's side.

Your named beneficiary doesn't have to be a person.

Keep in mind that naming a charity as a beneficiary doesn't provide the same charitable income tax benefits as gifting a policy.

So this limited analogy shows that even though your beneficiary does not get the cash value, they get the total death benefit.

In practice, this means that where trustees have refused to disclose documents requested by a beneficiary, the beneficiary does not have a right that he / she can enforce to obtain the documents.

The beneficiary does not have a «job» to do.

You'll want to think about questions like how do you want funds disbursed, what happens if the beneficiary doesn't use the funds, how do you want the trust to terminate, who do you want to manage the trust, and more.

For instance, if your primary beneficiary does not survive you, you can indicate your next choice through a contingent bequest.

For instance, if your primary beneficiary does not survive you, then you can indicate your next choice through a contingent bequest.

It is enforceable in court if the trustee fails to abide by its terms unlike a bequest to an individual for the care of your pet, which is not enforceable if the beneficiary does not use it as intended.

If the beneficiary does not continue education after high school, your RESP provider will ensure that your contributions are returned to you and tell you how much income you made on those contributions.

If the designated beneficiary doesn't need the money, it can be transferred to a sibling, cousin, grandchild, or other relative — even to yourself.

If a beneficiary doesn't attend a participating college or university, the prepaid tuition plan may pay less than if the beneficiary attended a participating college or university.

In addition, if a beneficiary doesn't attend a participating college or university, the prepaid tuition plan may pay less than if the beneficiary attended a participating college or university.

However establishing this takes a while and hence most of the times beneficiary does not pay back the money that is not rightfully his.

If the beneficiary does not pursue postsecondary studies and no other beneficiary is named, grants will be returned to the government and contributions will be refunded to the subscriber.

If your beneficiary does not attend college, you will be penalized 10 % on any non-qualified withdrawals.

Technically a beneficiary does not have to do anything to receive your policy's death benefit, but it's a good idea to make sure he or she is aware that the policy exists in case there are any delays or complications on the insurer's side.

The designation of a life insurance beneficiary does not always come without controversy.

A graded death benefit means that the beneficiary does not get the full benefit if the insured dies within the graded period.

An RESP will be required to repay CESG money in certain situations, such as when a beneficiary does not pursue higher education or the plan is terminated.

Moreover, a plan holder acting for a beneficiary doesn't have to be a resident of Canada.

An account owner may contribute to a beneficiary's account if, at the time of the contribution, the total balance of all accounts for that beneficiary does not exceed $ 500,000.

Can the money be rolled into an RSP if its not used for education even if the beneficiary does, in fact, go to university?

Changing a revocable beneficiary does not require the consent of the beneficiary, while changing an irrevocable beneficiary does.

The POD beneficiary does not have to sign a signature card because he only has signing privileges in the event of your death.

The beneficiary does not automatically replace the trustee as the account holder of record.

Contributions made by individuals and family members are tax - deductible for the account beneficiary - even if the account beneficiary does not itemize.

Building on this, a large portion of these income - driven beneficiaries do not actually need the benefits of such a plan.

However, many current and future Social Security beneficiaries don't know some important details about how the program works.

I haven't seen any #Dumsor «beneficiary» stand up and wave like this LEAP beneficiary did at #SOTNGhana @JDMahama pic.twitter.com/nPhclL 6ejT

It's unfortunate that some beneficiaries did not cash the funds issued to them, and the department reminds all beneficiaries that a change of residence can be easily filed with Probation to ensure delivery.»

To you who are beneficiaries don't let me down, don't let your parents down and don't let the people of Ofoase - Ayirebi down,» Mr. Oppong - Nkrumah emphasised.

Their opponents are fully mobilized against them when they are proposed and their potential beneficiaries do not yet know who they are.