Sentences with phrase «beneficiary receives the money»

This will allow you to ensure that your beneficiaries receive the money that is coming to them.

Instead of the policyholder's beneficiaries receiving the money outright, it can be used to benefit the policyholder in life and shield against other assets being used to pay for long - term care.

When the insured dies, the beneficiary receives the money that the insured deposited plus the associated interest earnings, which — due to the typically extreme conservatism of such investments — usually reflect an annual rate of 1 % or less.

If I am still alive at the end of my policy's term (Initial Premium Guarantee Period), do I or my beneficiary receive any money?

So with a $ 250,000 policy, if the insured passed away during those 10 years, the beneficiary receives that money.

Not exact matches

While the adult who opens the plan is the plan's owner, the beneficiary is the person who receives the money — and it can be changed.

This allows your beneficiaries to receive money or your spouse to keep receiving (probably reduced) payouts after you die.

The trust document will identify who the trust beneficiaries are, how and when trust beneficiaries may receive distributions from the trust, and how the money in the trust may be invested.

How often do they get the beneficiary to receive the money?

The scholarship organizations that receive the donation tax - credit money have become an institutional base for supporters and beneficiaries, and a mobilized political force.

In that case, you can name a trust as your beneficiary so that an appointed conservator can receive and disburse the money on your behalf.

You'll receive an IRS Form 1099 - Q if someone has contributed money to a 529 plan or a Coverdell Education Savings Account (Coverdell ESA) and designates you as the beneficiary.

The beneficiary is the person who will receive the money if you pass away, If you are married, the most logical beneficiary would be your spouse.

If someone has contributed money to a 529 plan or a Coverdell Education Savings Account (Coverdell ESA) and designates you as the beneficiary, you will receive an IRS Form 1099 - Q when you start tapping into those funds.

Similarly, some states impose an inheritance tax on beneficiaries who receive money or property when a friend or family member passes away, and will require you to report your inheritance on specific forms.

Because his term policy is still inforce, his wife, who is his beneficiary, receives $ 250,000 which not only helps replace his lost Social Security benefits, but also covers funeral expenses, medical bills, the remainder of their mortgage loan, and allows her to contribute money to their grandchildren's trust for college tuition.

The beneficiary is the individual named by the subscriber to receive the money to pay for post-secondary education.

Name a beneficiary to receive your money following your death, subject to applicable pension legislation

The beneficiaries receive installments depending on when the policyholder dies — so they'll get more money if the policyholder dies five years into a 20 - year policy than they will if he or she dies 15 years into the policy.

With a deferred annuity, your beneficiaries (the people you choose to receive your money after you die) will receive the money from your annuity.

If you have these concerns, you may have considered buying life insurance - which guarantees that certain people of your choice (your beneficiaries) will receive money if you die.

If after someone dies, you receive life insurance as the beneficiary, is the estate entitled to any of that money?

Name a beneficiary to receive your money after you're gone — if you have a spouse, they may have priority as a beneficiary

Even if you use all the money earmarked for LTC costs and services, your beneficiaries will receive a 20 % guaranteed minimum death benefit.

Like traditional life insurance, the death benefit of a second - to - die policy can ensure your beneficiaries receive a minimum amount of money, even if savings and other retirement income is spent during the lives of you and your spouse.

With the income provider option, you are able to decide how much money and how often your beneficiaries receive from your death benefit.

This beneficiary is the individual who will receive the policy's benefits (money payout) upon your death.

Beneficiaries can usually take the money all at once or over a number of years but it's all taxed when received.

Your beneficiary gets all the tax benefits from the money that you would have received.

With variable annuities you assign a beneficiary and, if you pass away, your beneficiary would receive a specified amount of money.

If you don't pass away during the terms of the contract, your beneficiaries won't receive money on it.

• Upcoming changes to EI will require beneficiaries to look for a job every day they receive government money and be able to show evidence of their job search.

Secondly, if your beneficiary is not disciplined financially, receiving a large amount as lump sum payment being the proceeds from your life insurance policy may encourage him to spend the whole money carelessly.

You will also name the beneficiaries and state the ways and manners you will want the beneficiaries to receive money from the ILIT.

The trust document will identify who the trust beneficiaries are, how and when trust beneficiaries may receive distributions from the trust, and how the money in the trust may be invested.

More importantly, any money you borrow and don't pay back (including the interest accrued) would be deducted from your death benefit when you die, which means your beneficiary would receive less.

Better, because that lump sum of money that your beneficiaries receive isn't taxable.

When a policyholder dies and his or her beneficiaries receive a death benefit, that money generally isn't reported as gross income, as far as the IRS is concerned.

This is the amount of money those that you designate as beneficiaries will receive when you die.

Conveniently leave money for your loved ones with the ability to bypass your estate by naming a beneficiary other than the estate to receive the death benefit

If there is more than one beneficiary, think about what assets or sum of money you want each person to receive.

Once you begin receiving payments, most annuity contracts do not allow money to be paid to your heirs, other than your designated joint - life beneficiary, in the event of your death.

When money, securities, property, or other assets are placed in a properly structured charitable remainder trust, the grantor or the grantor's beneficiaries receive payment of a specified amount at least annually.

Of course, designating a charity as the beneficiary of a life insurance policy means it will take time before the organization receives any money.

The EFC affects the amount of need - based financial aid your beneficiary will receive; a higher EFC reduces the amount of financial aid and need - based scholarship money your beneficiary will qualify to receive.

With a remainder trust, money and other assets are placed in the structured trust and any beneficiaries will receive a pre-determined amount of monetary support from the trust's interest gains on an annual basis.

Beneficiary The person, people or institution (s) that receive money if the policyholder dies.

That means the whole amount goes to your beneficiaries — and they don't have to plan their goals around receiving only a portion of the money thanks to taxes.

The beneficiary can then decide whether to receive the money as a lump - sum payment or if he or she would like to roll them over into another annuity that will pay out a regular income.

For the life insurance component, you won't be able to withdraw any money for a specified term, but you can choose to have your beneficiaries receive benefits for a fixed term, such as ten years.