Sentences with phrase «beneficiary upon the death»

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

Finally, many states have adopted transfer - on - death deeds (TODD) that allow you to transfer your real property to your designated beneficiaries upon your death.

Cash value life insurance refers to a type of life insurance that, in addition to paying out a death benefit to your beneficiary or beneficiaries upon your death, accumulates cash value inside the policy while you are alive, that you can use for whatever you please.

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.»

The universal life insurance coverage extends to two people and pays the death benefit to the beneficiary upon the death of the second insured.

Cajon — If you mean naming a spouse or common - law partner as a beneficiary upon death then the answer is yes you can and the proceeds are tax free.

Benefit: For life insurance, it is the amount of money specified in a life insurance contract to be paid to the beneficiary upon the death of the insured.

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.

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

Another name would be «death» insurance, since the focus is on providing for the insured's beneficiary upon the death of the insured.

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

It's simple: you purchase $ 300,000 worth of life insurance and $ 300,000 will be paid to your beneficiary upon your death.

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.

If an estate is larger and therefore vulnerable to federal or state estate tax exposure, an irrevocable trust may be used to provide liquidity for the estate without being subject to estate taxes by owning the policy and being designated as the beneficiary upon the death of the insured.

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).

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

Remember also to name a remainder beneficiary upon the death of the pets.

It provides cash to the beneficiary upon the death of the insured.

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.

When you have a final expense insurance policy, a death benefit is paid out to a named beneficiary upon the death of the insured.

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

However, it is important to note that any amount of the balance that is not repaid will be charged against the death benefit proceeds that are ultimately paid out to the beneficiary 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.

Life insurance will pay money to your beneficiaries upon death.

Life insurance is financial coverage that pays a specified amount of money to a chosen beneficiary upon the death of the main policy holder.

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 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.»

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.

In fact, you are usually required to keep paying but the amount paid over the benefit amount will be paid to your beneficiary upon your death.

Most annuity payments cease upon the death of the annuitant (this is what makes them different from regular life insurance policies, which generally make a payment to a beneficiary upon the death of the insured).

The death benefit is the face amount or coverage amount of the policy that will be paid to the named beneficiary upon death of the insured (less any outstanding policy loans and interest).

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).

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

Both types of insurance pay a lump sum of money to the beneficiary upon the death of the policy holder.

Life insurance pays out a specified amount to a named beneficiary upon your death.

Return of premium (ROP) is a type of life insurance policy that returns the premiums paid for coverage if the insured party survives the policy's term, or includes a portion of the premiums paid to the beneficiary upon the death of the insured.

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

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

Once again, since it is whole life, the policy will remain in place for life and your death benefit will be paid to the beneficiary upon your death.

Every life insurance policy has a «death benefit,» or a sum of money to be paid to a beneficiary upon your death, attached.

Death Benefit relates to the proceeds of the life insurance policy received by the nominee or the beneficiary upon the death of the life assured.

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.

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.

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.

These policies offer a component with permanent death benefit proceeds to the insured's beneficiary upon death.

If this rider is triggered and paid, the balance of the death benefit would be paid to the beneficiary upon the death of the insured.

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 an estate is larger and therefore vulnerable to federal or state estate tax exposure, an irrevocable trust may be used to provide liquidity for the estate without being subject to estate taxes by owning the policy and being designated as the beneficiary upon the death of the insured.