Sentences with phrase «beneficiary upon your passing»

With the cash refund payout option (also known as the death benefit), you are guaranteed that any principal (premium paid into the contract) not yet returned through income payments will be returned to your beneficiary upon your passing.

Buying a term life insurance policy would provide your loved ones with a death benefit (paid to your named beneficiary upon your passing), which would help cover the costs that you normally covered.

IRA: Whomever you designate as the beneficiary will, in fact, become the beneficiary upon your passing.

If you have Long Term Care insurance it might pay you out for years if you qualify, leaving your Death Benefits in tact for your beneficiaries upon your passing.

Typically, Whole Life, the most common type of permanent insurance, not only serves to pay - out your beneficiaries upon your passing, but also has a current cash value that can be borrowed against or cashed - out anytime.

The policy will pay out the set death benefit tax free to your beneficiaries upon your passing (unless you have their Modified plan) which gives them the money to pay for your final expenses.

With whole life insurance plans a death benefit will be paid out to your beneficiary upon your passing.

If you have Long Term Care insurance it might pay you out for years if you qualify, leaving your Death Benefits intact for your beneficiaries upon your passing.

You will also need to decide whether you want a permanent policy that will build cash value over time, or a term policy that will simply provide a death benefit to your beneficiaries upon your passing.

Not exact matches

Upon your death, the business passes to the trust beneficiary, which must be a tax - exempt charitable institution.

Also called the face value of the policy, this refers to the payout the beneficiaries will receive upon your passing.

Upon the qualified plan holder's passing, a spousal beneficiary may be able to roll the proceeds into his own IRA.

Put another way, probate assets are generally those you own alone in your name, while nonprobate assets generally consist of assets you no longer have legal title to (i.e. trust assets), assets that will pass automatically upon your death (i.e. beneficiary designation), and assets owned jointly with others (i.e. joint tenancy with right of survivorship).

Charitable lead trusts provide that income may be paid to a charity at an amount to be based upon a specified formula for a defined term, with the remaining assets to pass to estate beneficiaries free of estate taxes.

In most cases, you can also choose a beneficiary to receive proceeds from your annuity upon your passing.

Upon the wife's death, as long as she didn't change the beneficiary, the funds would then be passed to the child.

Also called the face value of the policy, this refers to the payout the beneficiaries will receive upon your passing.

A charitable lead trust (CLT) designates a rate of return or income to be paid to the charity over a specified time period and is more commonly used for estate tax planning because the balance of the estate assets will pass to beneficiaries free of estate taxes upon expiration of that time period.

The remainder of the assets will pass to desired beneficiaries estate tax free upon expiration of the specified term.

Whether you are the sole breadwinner, one half of a joint - income couple, or a stay - at - home - parent, a term life insurance death benefit (the funds that your beneficiaries will receive upon your passing) can do much more than add a temporary boost to family finances and pay for funeral and burial expenses.

Whether you use a fixed annuity within your IRA for a future Stretch IRA Strategy, your current IRA should be set up for your listed beneficiaries to at least have this option upon your passing.

Many states have adopted a transfer upon death deed that allows real estate title to pass directly to a beneficiary without the need for probate.

Upon your passing, the benefit amount will be paid in a tax - free sum to your beneficiaries to settle any outstanding debts.

In fact, arguably the real downside of a life settlement to a consumer is simply that the intended beneficiaries of the policy will no longer receive the policy benefits upon the passing of the insured.

Upon your death, assets in these accounts are passed to beneficiaries without going through probate.

One key point to make here is that if two or more primary beneficiaries are selected, and one or more of them is dead upon the passing of the insured person, the money will be distributed to the remaining primary beneficiaries, rather than any of the funds going to the secondary beneficiaries.

Upon your death, in most states, the proceeds can pass to your beneficiaries free of any claims of your creditors.

Upon your passing, the benefit amount will be paid in a tax - free sum to your beneficiaries to settle any outstanding debts.

Reviewing things such as limits, and beneficiaries ensures these policies reflect and pay out in a way which honours one's personal wishes upon passing.

In most cases, you can also choose a beneficiary to receive proceeds from your annuity upon your passing.

A life insurance policy beneficiary is the person or the entity that will receive the policy's death benefit proceeds upon the passing of the insured.

Upon the policy holders» passing, their beneficiaries will receive their benefits on a graduated basis.

Upon the passing of the insured, the insurance company will cut a tax - free check to whoever is the beneficiary (s).

Upon your passing, your beneficiary or beneficiaries would receive the payout money — the coverage amount of the insurance policy.

When purchasing your policy you will select a beneficiary or beneficiaries who will receive the proceeds (death benefit) from your life insurance upon your passing.

Upon the death of the insured spouse, the death benefit from the life insurance policy passes tax - free to the listed beneficiary (typically the wife).

However, after a certain amount of time has passed, such as two or three years of policy ownership, the beneficiary would be eligible to receive all of the stated death benefit upon the insured's passing.

In fact, arguably the real downside of a life settlement to a consumer is simply that the intended beneficiaries of the policy will no longer receive the policy benefits upon the passing of the insured.

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.

These riders» critical / terminal illness payout is tax - exempt, and beneficiaries also receive the left over face value, untaxed, upon the policyholder's passing.

In short, with life insurance, you pay premiums over a given period so that your beneficiaries can receive a lump sum payment upon your passing (find out How to Collect a Life Insurance Payout).

Also called the face value of the policy, this refers to the payout the beneficiaries will receive upon your passing.

With term life you select the duration of coverage and pay your premiums each month (or annually) and the insurer agrees to pay out a death benefit to the person you choose (beneficiary) upon your passing, if you die during the term of your life insurance policy.

It's simple — You pay the insurance company a monthly or annual premium for a set amount of life insurance for a specific period of time, and the insurer agrees to pay out a death benefit to your beneficiary (you choose) upon your passing.

With whole life coverage, the death benefit is paid to the beneficiary of your choice, upon your passing.

It's important to let the beneficiary know that you have life insurance, and that they are named as beneficiary, and where to find your life insurance information so the beneficiary can contact your life insurance company to make a claim, upon your passing.

To put it in its most basic explanation, life insurance is a contract where you agree to pay a monthly premium and the insurance company agree's to pay your beneficiary an amount of money agreed upon in the contract when the covered person passes.

Once you have decided upon a face value for your policy, you can be certain that this is the amount given to your life insurance beneficiary when you pass.