Sentences with phrase «chosen life insurance beneficiary»

It is fairly basic in its setup, providing your chosen life insurance beneficiary with an income tax free death benefit should you pass away during the term.

Understanding how to choose your life insurance beneficiary designation.

Most people don't put much thought into choosing a life insurance beneficiary.

So often times, choosing a life insurance beneficiary is easy — however there are some circumstances when it's not so easy.

Choosing a life insurance beneficiary can be difficult.

Last but not least, work with an experienced life insurance agent who can advise you on choosing a life insurance beneficiary and answer any questions you may have.

Here are some ins and outs for choosing a life insurance Beneficiary and helping to make sure that the benefit amount goes where you intended:

But really, the sky's the limit when choosing a life insurance beneficiary.

A key step in purchasing a life insurance policy is choosing your life insurance beneficiary — the person (or entity) who will receive the cash benefit from your policy after you die.

Choosing a life insurance beneficiary for your new life insurance policy is the most important decision you'll make.

There are dozens of possible ways to choose a life insurance beneficiary.

Not exact matches

Selecting beneficiaries for retirement benefits is different from choosing beneficiaries for other assets such as life insurance.

Life insurance annuities will be fixed - interest annuities, but as a beneficiary you can choose whether you want the benefit paid out throughout a fixed period or your lifetime.

We recommend term life insurance over mortgage life insurance if you're in good health because you'll get cheaper quotes and the death benefit goes to the beneficiary you choose.

However, life insurance policy beneficiaries can use the death benefit any way they choose.

Although the death benefit of a term life insurance policy can be used any way the beneficiary chooses, the funds are commonly used for:

Term life insurance provides a death benefit to your beneficiaries if you should die during the number of years, or «term» you choose.

Term life insurance is the cheapest form of coverage, you can choose a death benefit that covers multiple loans or expenses, and you can choose your beneficiary.

As with other types of life insurance, group life insurance allows you to choose your beneficiary.

Most consumers forego mortgage life insurance policies altogether and choose to either purchase a traditional term life insurance policy, which is comparable in price and effectively serves the same purpose while providing more financial flexibility to beneficiaries.

Just like other forms of end of life insurance, you may choose to designate how your beneficiary uses remaining funds, such as donating to a charity, or simply gifting the balance to a predetermined organization.

Your beneficiaries can choose to use the proceeds from a life insurance policy to pay for your final expenses.

Choosing beneficiaries, and keeping those choices up - to - date, is an important part of owning life insurance.

Unless beneficiary assignment are irrevocable, which would be specified on your life insurance policy, you can change your beneficiaries whenever you choose.

If you choose your spouse to be the owner and beneficiary of your life insurance policy, the proceeds of the policy will be subject to estate taxes and perhaps probate administration when he or she eventually dies.

Life insurance beneficiaries are a critical part of any policy and something you should choose wisely.

For the life insurance component, you won't be able to withdraw any money for a specified term, but you can choose to have your beneficiaries receive benefits for a fixed term, such as ten years.

Because of its importance, it's imperative to be both educated and mindful of how you choose the beneficiaries for your term life insurance policy.

Choosing a term life insurance beneficiary can be difficult.

The person you choose to receive the death benefits of your life insurance policy is the beneficiary.

When you purchase life insurance, you enter into a contract with a life insurance company that agrees to pay a death benefit to your beneficiary, which can be your spouse, children or anyone you choose.

Your beneficiaries can use the life insurance proceeds immediately and in any manner or purpose they choose.

A supplemental policy works the same way as most types of life insurance: You choose a coverage amount to purchase; make regular payments on the premium, and your beneficiary can receive a cash benefit when you pass away.

If more than one beneficiary is chosen, you must designate the percentage or proportion you want each life insurance beneficiary to receive.

Further, with term life insurance, your beneficiary may choose how best to spend the life benefit — paying off the mortgage, other debts or funding children's education.

Choose your beneficiary carefully and amend your life insurance policy as circumstances change.

If you have chosen this form of life insurance that includes the waiting period, then the beneficiary will only receive the premium payments you have made with interest.

Also, if you a choosing a minor as beneficiary, a guardian must be assigned to oversee / supervise the proceeds of the life insurance policy, and the spending of those proceeds until the minor named beneficiary reaches the age of adulthood.

The Beneficiary is the person the insured chooses to receive the death benefit of the life insurance policy.

Life insurance provides a lump sum of money to your chosen beneficiaries in the event of your death.

While naming your spouse as your life insurance policy beneficiary is quite common, not everyone chooses to do so.

Upon purchasing your life insurance policy, you will need to decide who will be your beneficiary, or beneficiaries, if you choose more than one individual.

In some cases, a person may have taken out a life insurance policy and had no one close to list as a beneficiary, and chose you.

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

When choosing a life insurance policy beneficiary, you are allowed to name more than just one person or entity to receive policy benefits.

The primary beneficiary is the person or entity that is chosen to receive the death benefit first, receiving the proceeds of your life insurance policy when you die.

Life insurance annuities will be fixed - interest annuities, but as a beneficiary you can choose whether you want the benefit paid out throughout a fixed period or your lifetime.

When choosing a life insurance policy beneficiary, it is possible to name more than just one person or entity.

For example, if Harry married Sally and got a life insurance policy on himself during their marriage, odds are that he would choose Sally to be the policy's primary beneficiary.

All life insurance policies work on the same basic premise; make payments, called premiums, to the insurance company, which guarantees to pay chosen beneficiaries a sum of money upon the death of the insured.