Sentences with phrase «benefit upon your 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.

Nothing will ever change, and it pays out your death benefit upon passing so your family isn't stuck with your final expenses.

The insurance company promises to pay out a death benefit upon the passing of the insured person.

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.

If it is a sizeable death benefit, paying premiums for a decade might be well worth your kids while if they stand to reap a large return on investment when they receive the death benefit upon your passing.

Therefore, even if you outlive the insurance, you will still receive the full death benefit upon your passing.

A term life insurance policy provides death benefits upon the passing of the insured, if that policyholder dies within a specified term.

Not exact matches

This forces upon elected officials to communicate and collaborate on the issues and to pass laws which, ideally, would benefit a larger swath of the population.

Once you know you want to provide benefits to your family upon your passing, and you have chosen to buy a permanent life insurance policy, the next decision you need to make is which type of permanent life insurance best suits your needs.

What happens upon your death if your significant other also passes around the same moment, is that the life insurance policy will not pay out any benefit to your significant other.

This may be better than Social Security or a life - only income option from your defined - benefit pension, where nothing passes to heirs upon your death.

Upon your passing, he / she will have the option to continue the contract in his / her name until the benefit has been paid out.

Bear in mind that, like most pensions and annuities, CPP and OAS are income streams that «run out» or reduce upon the passing of a spouse, unlike personal assets that have both a survivor and estate benefits.

By growing your cash value and death benefit you will be maximizing your legacy because your policy will pay an ever increasing death benefit to your future heirs upon your passing, unlike term life that will most likely expire worthless.

Students who are not high school graduates (or who have not received General Education Certificates) can demonstrate that they have the «ability to benefit» from the education or training being offered by passing an approved ability - to - benefit (ATB) test or upon satisfactory completion of six credit hours or equivalent coursework that is applicable toward a degree or certificate.

Now, if you passed away, the death benefit would be distributed based upon who was still alive and able to claim the proceeds:

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.

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.

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

You'll need to call in to get your Priority Pass membership benefit — it does not automatically activate upon credit card approval.

It states: «That upon any land so granted by way of gift as aforesaid, or any part thereof, ceasing to be used for the purposes of the institution, the same shall thereupon immediately revert to and become again a portion of the estate or manor or possessions of the Duchy, as the case may be to all intents and purposes as fully as if this Act or any such grant as aforesaid had not been passed or made, except that where the institution shall be removed to another site the land not originally part of the possessions of either of the Duchies aforesaid may be exchanged or sold for the benefit of the said institution, and the money received for equality of exchange or on the sale may be applied towards the erection or establishment of the institution upon the new site.»

Many people set up trusts as a way of managing their assets, to pass them on while they are alive and to ensure that specific people benefit from those assets upon their death.

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.

While a first to die joint life policy pays out upon the death of the first covered person, a second to die life insurance policy will not pay out benefits until both of the insureds have passed on.

Death benefit is provided upon the passing of the last surviving partner, at which time the full benefit is paid out so it can be used to cover a number of expenses, including estate taxes

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

What happens upon your death if your significant other also passes around the same moment, is that the life insurance policy will not pay out any benefit to your significant other.

«Martin decided to take a lower monthly payout on his pension so upon his passing his wife would receive a monthly death benefit to keep her income stream intact.»

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.

These plans cover two lives, with a death benefit that is payable upon the second person's passing.

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.

The death benefit that your loved ones will be able to receive upon your passing will most likely be less than that offered by a policy that requires an exam.

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).

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.

What we mean by this is that it's always better to have an insurance policy with a 100 % guarantee that your loved ones will receive the full death benefit right away upon your passing.

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.

Although life insurance pays out a death benefit upon an insured's passing, not all policies will work in the same manner.

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.

By growing your cash value and death benefit you will be maximizing your legacy because your policy will pay an ever increasing death benefit to your future heirs upon your passing, unlike term life that will most likely expire worthless.

Now, if you passed away, the death benefit would be distributed based upon who was still alive and able to claim the proceeds:

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.

Which is why you buy life insurance in the first place, to make sure your loved ones receive the death benefit from your policy upon your passing.

After the first two years have been passed, the full death benefit will be paid upon your death.

Upon your passing, the death benefit from your life insurance policy will be paid as a tax - free lump sum directly to the trust you created for your child.

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.