Sentences with phrase «certain death benefit payment»

Not exact matches

Specifically, these 1099s report income from the acquisition or abandonment of secured property, cancelled debt, distributions from a medical savings account, long - term care and accelerated death benefits, original issue discount, taxable distributions from cooperatives, and certain government and qualified state tuition program payments.

One thing that seniors might consider is a single premium option which is a lump sum payment into a policy in return for a certain amount of death benefit.

With universal policies (universal life and variable universal life) you can reduce or increase the amount of the death benefit and vary the amount or timing of premium payments, subject to certain limitations.

Term life insurance is considered to be the most basic form of coverage, providing a certain amount of death benefit in exchange for a premium payment.

How it works: These policies promise a certain death benefit, and payments don't change.

Universal life provides a death benefit, and cash value build up, however, these policies are more flexible than whole life, as the policyholder may (within certain guidelines) alter the timing and the amount of the premium payment.

Universal life insurance, also known as Flexible Premium Adjustable Life Insurance, has flexible premiums with a minimum and maximum payment option, while giving you the option to change the death benefit within certain guidelines set forth in the contract.

Illustration A document used to show a life insurance or annuity policy's guaranteed and (non-guaranteed) projected values, including cash values, income payments, and death benefits, based on certain assumptions.

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.

As an alternative, most life insurance policies can include an accelerated death benefit rider that allows for tax - free payments to cover medical care in certain «critical» circumstances.

Oftentimes the accelerated death benefit is automatically included on certain types of life insurance policies for free or for just a small amount of additional premium payment.

Term life insurance is considered to be the most basic form of coverage, providing a certain amount of death benefit in exchange for a premium payment.

The annuity would provide lifetime (or a certain yearly amount) of future payments, but would have no value at death while the life policy would immediately create a sizable death benefit providing tax - free proceeds to children or a spouse at passing.

However, unlike other contracts wherein fulfilling certain obligations from both sides will generally be simultaneous, in life insurance contracts, the customer fulfils his obligations of payment of premium either immediately (single premium) or periodically (annually) with a hope and belief that the other party (insurer) will be fulfilling his part of the obligation in due course through multiple events like partial withdrawals, loans, survival or maturity benefits, surrenders or any live or death claim as per contractual obligations.

It's simply the insurance company promising that after so many payments at a certain amount, they will guarantee a death benefit.

Universal life insurance offers policy holders a great deal of flexibility in that they can choose — within certain parameters — when they make their premium payment, as well as how much of that payment is allocated to the death benefit and how much of it is allocated to the cash value component.

This does not expire when the policyholder reaches a certain age; and that allows the policyholder to adjust the amount and timing of premium payments and the amount of the death benefit while the policy is in force.

The flexibility comes in that the policyholder is allowed to change — within certain guidelines — the death benefit, as well as the timing and the amount of the policy's premium payment.

You can reduce or increase your death benefit, and also pay your premiums at any time and in any amount (subject to certain limits) after you've made your first premium payment.

Specifically, West Coast Life provides term and term - like life insurance, which provide protection for a certain period of time, universal life insurance, which provides life - long insurance but with particular premium requirements that need to be met; Survivor Life Insurance, which covers the lives of two persons who are insured, and the death benefit is given when the last of these two persons insured dies; and annuities, which are insurance contracts, which payments can be set regularly to aid in meeting the needs of people saving for their retirement.

Generally, a universal life policy provides flexibility by allowing the policy owner to change the death benefit at certain times, or to vary the amount or timing of premium payments.

For instance, policies with regular premium payment options may also have the option to receive a death benefit that is certain times the annualised premium.

You have the liberty to reduce or increase your death benefit and also to pay your premiums at any time and in any amount (subject to certain limits) after your first premium payment has been made.