Sentences with phrase «benefit as the death benefit»

Under this option, the policy provides a lump - sum benefit as the death benefit to the beneficiary of the policy, in case of demise of the insured person.

Not exact matches

As the name implies, term life insurance will provide a death benefit if an individual dies within the policy's term, up to 20 years typically.

Ryan's youth was marked by tragedy after his father's death when he was just 16, and the future Congressman funded his bachelor's degree with the Social Security benefits he received as a result.

One advantage C corporations have over unincorporated businesses and S corporations is that they may deduct fringe benefits (such as group term life insurance, health and disability insurance, death benefits payments to $ 5,000, and employee medical expenses not paid by insurance) from their taxes as a business expense.

«The type of hidden fees annuity investors should pay attention to are separate account [investment funds] expense ratios; back - end sales charges; annual administration fees; mortality and expense costs; any rider fees, such as guaranteed income rider, death benefit riders [and] principal protection riders, to name a few,» says financial planner Joseph Carbone of Focus Planning Group.

Like all Googlers, our named executive officers are eligible to participate in various employee benefit plans, such as medical, dental, and vision care plans, flexible spending accounts for health and dependent care, life, accidental death and dismemberment, disability, and travel insurance, survivor income benefit, employee assistance programs (e.g., confidential counseling), and paid time off.

The death benefit and payment plan of any standard whole life insurance policy are set as part of the policy and do not change.

A smaller death benefit is typical if you are looking to cover all costs associated with your passing, such as a funeral and potential hospital expenses.

While Old Age Security and the Guaranteed Income Supplement were designed to provide a basic minimum amount to Canadian seniors, the new Canada and Quebec Pension Plans were contributory social insurance programs established to provide basic death, survivor and disability benefits as well as retirement coverage.

This has the impact of providing you cash as well as reducing the life insurance policy's death benefit.

The way it works is that, each year, the insurer deduct all expenses, such as death benefits paid and the costs of running the business, from the money they've made (premiums collected, investments, and any other sources of income) and pays out any net profit as a dividend.

Buying paid - up additions is similar to buying a small single - premium life insurance policy as you increase the policy's cash value and death benefit but don't have ongoing payments.

In the event Mr. Block's employment terminates due to his death or disability (as defined in his offer letter), he or his estate will be entitled to receive the following payments and benefits (less applicable tax withholdings), in addition to any other compensation and benefits to which he (or his estate) may be entitled under applicable plans, programs and agreements of the Company:

The consumer will incur a surrender charge, be subject to the commencement of a new surrender period, lose existing benefits (such as a higher crediting guarantee than is currently available, as well as death, living or other contractual benefits), or be subject to increased fees, investment advisory fees or charges for riders and similar product enhancements;

Payouts for dismemberment are typically listed as a percentage of your policy's death benefit, with a certain percentage corresponding to each limb (or combination thereof).

However, the policy only pays a death benefit if you die due to a covered accident, such as a plane crash or sudden fall.

Term life insurance policies are quite cheap and can come with a variety of riders offering such assistance as disability income, waiver of premiums, and an accelerated death benefit in the case you become permanently disabled.

Investors should only buy an annuity contract for the annuity's additional features, such as lifetime income payments and / or death benefit protection.

Permanent insurance, which includes whole life and universal insurance policies, is for life: It provides a death benefit for as long as you pay the premium, but also may include cash value that can be accessed during the insured person's lifetime.1

A fee included in some annuity contracts that compensates the insurer for the risks it assumes in issuing the contract, such as the cost of death benefits, expenses of other insured income guarantees, and administrative costs.

The contract comes with a return - of - premium death benefit as standard and investors up to 90 years old are eligible to purchase the product.

No medical exam life insurance is more expensive than fully underwritten coverage and typically provides fewer options, such as the ability to increase your death benefit or convert a term policy to permanent coverage.

This provision states that no death benefit will be paid if you die as a result of your dangerous career or hobby (e.g., skydiving).

Unlike life insurance, annuity death benefits are taxed as ordinary income on any gains above the original investment amount.

No medical exam whole life insurance is typically used as a form of final expense insurance, as coverage is lifelong and death benefits are generally limited to a maximum of $ 25,000 or $ 50,000.

Therefore it's typically intended as final expense insurance, offering a large enough death benefit to cover a funeral and other costs associated with your passing.

This is known as a partial surrender, which reduces the cash surrender value of the policy and the death benefit amounts.

And life insurance policies with limited underwriting, such as simplified issue or guaranteed acceptance policies, regularly restrict death benefits to be less than $ 100,000 to $ 250,000.

However, permanent life insurance solutions that focus on providing lifetime guaranteed death benefits, such as these, are typically less expensive than other types of permanent life insurance that emphasize savings opportunities.

The consumer will incur a surrender charge, be subject to the commencement of a new surrender period, lose existing benefits (such as death, living or other contractual benefits), or be subject to increased fees, investment advisory fees or charges for riders and similar product enhancements;

Income annuities also come with what's known as a lifetime - only contract, or a death benefit for a limited period.

As long as you continue to pay the premium on time, your rate and death benefit are locked in and guaranteed to stay the samAs long as you continue to pay the premium on time, your rate and death benefit are locked in and guaranteed to stay the samas you continue to pay the premium on time, your rate and death benefit are locked in and guaranteed to stay the same.

If you name your four kids, for example, each would receive 25 % of the death benefit as your beneficiary.

Survivorship Builder is a single policy covering two lives that pays the death benefit upon the second insured's death — an option that might prove beneficial to some, such as, providing an income tax free death benefit, liquidity for estate taxes and wealth transfer and supplemental income needs.

Elite Choice also offers traditional fixed annuity benefits such as guaranteed minimum interest and death benefits, combined with the potential for additional interest linked to the return of an index.

MarketProtector offers the benefits of a traditional fixed annuity, such as guaranteed minimum interest, death benefits, and retirement income options such as IncomeAccelerator, which is an optional income benefit for an additional charge.

If you need a large amount of coverage, simplified issue life insurance isn't ideal for you because most life insurance companies cap the death benefit at $ 100,000 (some companies offer as high as $ 500,000.)

These changes are not significantly affected by economic developments, with the exception of changes in the interest rate forecast on federal employees» future benefits, such as pensions, death benefits, etc..

(2) And as part of your contract with an insurance company, you can also receive income guarantees and death benefits.

As you determine if an annuity may be right for you, remember that they are intended as vehicles for long - term retirement planning, which is why withdrawals reduce an annuity's remaining death benefit, contract value, cash surrender value and future earningAs you determine if an annuity may be right for you, remember that they are intended as vehicles for long - term retirement planning, which is why withdrawals reduce an annuity's remaining death benefit, contract value, cash surrender value and future earningas vehicles for long - term retirement planning, which is why withdrawals reduce an annuity's remaining death benefit, contract value, cash surrender value and future earnings.

This rider — also known as a Terminal Illness Death Benefit Rider — is included in your policy at no charge.

Universal life insurance is a flexible type of permanent life insurance policy in which the death benefit and premiums can be adjusted as your circumstances change.

Death benefits are tax - free so long as you're below federal and state estate exemption levels, which is the case for most households as the federal exemption level is approximately $ 5.5 million and only 18 states impose estate or inheritance taxes.

Whole life insurance policies are generally more expensive than alternatives, such as term life insurance, and the death benefit directly impacts that cost, so it's important to evaluate your family's needs before deciding to purchase.

If you already own life insurance, you can add the charitable organization as another beneficiary and specify how you want the death benefit distributed.

In the case that you pass, the policy beneficiaries should file a claim with the insurer, after which point the circumstances of your death will be reviewed and receive the payout (also called a death benefit or the face value of the policy) so long as everything is in order.

While an ILIT is an effective way to make sure that your life insurance death benefit is not taxable as part of your estate, there are a couple situations in which you may face a tax event:

You can think of this as getting your death benefit early, but with a few strings attached.

Unless the value that you withdraw is paid back to the insurance carrier before your death, the balance of your loan will be deducted from the death benefit, and the carrier will need you to repay the interest on the loan as well.

The taxable amount would be the the death benefit minus the value of whatever was paid to you, as well as any amount paid in premiums since they acquired the policy.