Sentences with phrase «beneficiary in»

However, it is a good rule to name another charity as the contingent beneficiary in case the original beneficiary organization no longer exists.

Thus, the loss of the person would have a substantial impact on the beneficiary in regards to their relationship.

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.

Accidental death coverage provides payment to the insured's designated beneficiary in the event that someone who is covered on that auto insurance policy dies from accident - related injuries.

Accidental death life insurance is a no question term life insurance insurance policy that pays out benefits to your beneficiary in the event of accidental death of the insured.

Although traditional life insurance was developed to provide a death benefit to a beneficiary in the event of the insured person's death, several products evolved in the latter part of the 20th century that incorporated savings or investment.

Basically, there must be an «insurable interest» on the part of the beneficiary in order for the life insurance policy to have validity.

Otherwise, there may be potential for a family member to attack the validity of the beneficiary in court.

It pays benefits if you are injured or pays your beneficiary in case you are killed in the accident.

He should also name a secondary beneficiary in case his primary choice passes away.

Like other life insurance policies, here too the full sum assured is paid out to the nominee / beneficiary in case of the policyholder's death.

The lump - sum paid out by an AD&D policy can be used in any way you (or your beneficiary in the event of your death) choose.

He also names his brother as secondary beneficiary in case he and his wife die at the same time.

You can build your retirement corpus as per your risk appetite and on completion of the specified period, a certain amount of money is paid to the insured / beneficiary in the form of pension, monthly, half - yearly, or annually.

Aviva Young Scholar Advantage is a Unit Linked Insurance Plan specifically designed to protect the beneficiary in the unfortunate event of the policyholders» death.

This wording pays a deceased beneficiary's share of the death proceeds to the children of the deceased beneficiary in equal shares.

Group Term Life Insurance: A group insurance plan that provides a lump sum to a beneficiary in case of death of a covered member during the defined covered period.

You may also want to consider coverage that includes AD&D, which pays you or your beneficiary in case of your death or permanent dismemberment.

Generally speaking, life insurance is a type of coverage that provides a payout to a selected beneficiary in the event of the policyholder's death.

Instead, a child plan covers the parent's life and the child is the nominee or beneficiary in case an unforeseen eventuality or the parent's untimely death occurs.

Accidental Death Coverage — An option on an insurance policy that will pay a beneficiary in the event that the policy holder should die due to accident related injuries.

In all cases, Indemnity refers to the insurance proceeds that are paid to the insured or beneficiary in the event of a loss.

Have you named your spouse as a beneficiary in your will or on your life insurance policy?

Further, after marriage, they can add their spouse and children as beneficiary in the insurance contract.

First, the mortgage company or lender is usually the beneficiary in a mortgage protection insurance policy.

The lump sum payout will be made to the beneficiary in case of the unfortunate death of the policyholder.

A life insurance policy is designed to pay a stated sum to the designated policy beneficiary in the unlikely event that the insured dies within the policy's coverage period.

The child is the beneficiary in a child plan.

Other times you should update your beneficiary include getting married (add your spouse), getting divorced (subtract your spouse), when buying a new home or car (to make sure your wife is the primary beneficiary in case she needs to make loan payments), or after having a child (same, but for paying for college).

It's also smart to name a contingent beneficiary in the event that your existing beneficiary dies before you do.

Life Insurance is an agreement between an insurance company and a policyholder, under which the insurer guarantees to pay an assured some of the money to the nominated beneficiary in the unfortunate event of the policyholder's demise during the term of the policy.

Contingent Beneficiary — is a backup beneficiary in the event that your original beneficiary is unable to receive the funds.

Or, what if the policy owner never named a beneficiary in the first place?

The business is the owner of the policy, pays the premium and is the beneficiary in the event the key person dies.

Accordingly, a QLAC may provide for a single - sum death benefit paid to a beneficiary in an amount equal to the excess of the premium payments made with respect to the QLAC over the payments made to the employee under the QLAC.

With a graded benefit policy, there is no death benefit paid to the beneficiary in the first 2 years.

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.

In its most basic sense, funeral insurance actually works in a similar fashion to most other types of life insurance in that a person pays a premium to an insurance company in exchange for the payment of a death benefit to a named beneficiary in the case of the insured's death while the policy is in force.

But, remember that you may be able to change the beneficiary in the future if you choose.

Revocable Beneficiary In life insurance, a beneficiary whose rights in the policy are subject to the policyowner's reserved right to revoke or change the beneficiary designation at any time and without the consent of the beneficiary.

Accidental death life insurance is an insurance policy that pays out benefits to your beneficiary in the event of accidental death of the insured.

Mortality Charge is one that is paid in lieu of the assurance given by the insurance company of providing benefits to the beneficiary in the event of unfortunate death of the insured.

Mrs Franks had had a difficult relationship with both her chiildren, while the grandson who was made a residual beneficiary in the 1992 will had remained a favourite throughout.

A fiduciary relationship is a relationship, grounded in fact and law, between a vulnerable beneficiary and a fiduciary who holds and may exercise power over the beneficiary in situations recognized by law.

The deceased in the appeal court case separated from his wife in 2012 and took out a court - ordered life insurance policy that named his ex-wife as beneficiary in order to secure his future child and spousal support obligations.

Represented a trust and estate beneficiary in a lengthy trial asserting undue influence and related claims against the defendant.

Representation of a trust beneficiary in an action against trustees for self - dealing and breach of trust.

The question raised in Clark v. Rameker, whether inherited IRA funds are exempt from a debtor's bankruptcy estate, stands at the crossroads of financial planning and bankruptcy law and could be relevant to anyone with an IRA designating a beneficiary and anyone designated as a beneficiary in an IRA.

It has been a long standing practice in family law to include provisions that a support recipient be named as an irrevocable beneficiary in separation agreements and court orders.

Only she is listed as beneficiary in the paper.