Sentences with phrase «contract pays a death benefit to the beneficiaries»

The annuity contract pays a death benefit to the beneficiaries designated by the owner of the annuity when the annuitant dies.

Not exact matches

Death Benefit: For QLACs with return of premium and / or death benefit riders, beneficiaries will receive any remaining value in the contract in the case of the annuitant's premature death, amounting to the difference between the initial premium paid and the cumulative income payments receDeath Benefit: For QLACs with return of premium and / or death benefit riders, beneficiaries will receive any remaining value in the contract in the case of the annuitant's premature death, amounting to the difference between the initial premium paid and the cumulative income payments reBenefit: For QLACs with return of premium and / or death benefit riders, beneficiaries will receive any remaining value in the contract in the case of the annuitant's premature death, amounting to the difference between the initial premium paid and the cumulative income payments recedeath benefit riders, beneficiaries will receive any remaining value in the contract in the case of the annuitant's premature death, amounting to the difference between the initial premium paid and the cumulative income payments rebenefit riders, beneficiaries will receive any remaining value in the contract in the case of the annuitant's premature death, amounting to the difference between the initial premium paid and the cumulative income payments recedeath, amounting to the difference between the initial premium paid and the cumulative income payments received.

Or, if you prefer, you can preselect how the death benefit will be paid to your beneficiaries (available with nonqualified and IRA contracts only).

Term life insurance is defined as a contract between the owner of the policy and the insurer, for a policy on the life of the insured, whereupon the insured's death, the insurer pays a lump sum death benefit to the beneficiary.

The inner - workings of cash value life insurance consists of a life insurance policy, which is a contract between the policy owner, the insured (often the same person), and the insurer, where the insurer agrees to pay a death benefit to the policy's beneficiary, based on the owner continuing to make the policy's premium payments.

For DIAs with return of premium and / or death benefit riders, beneficiaries will receive any remaining value in the contract in the case of the annuitant's premature death, amounting to the difference between the initial premium paid and the cumulative income payments received.

Just like we saw with whole life insurance, the death benefit works in exactly the same way in that it will be paid to the beneficiary as long as the insured passes away within the dates of the policy, i.e. the contract.

Benefit: For life insurance, it is the amount of money specified in a life insurance contract to be paid to the beneficiary upon the death of the insured.

In cases where there are multiple beneficiaries, the insurer will split the death benefit according to the instructions you've left in your contract, but otherwise still pay each recipient a lump sum.

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.

Unlike life insurance contracts that provide a death benefit which is non-taxable to beneficiaries, annuities paid to an estate incur what is called «income in respect to a decedent ``.

Life insurance policy is a contract between the insurers or insurance provider wherein a lump sum amount is promised as a death benefit to the beneficiary in the event of the policyholder's death, provided the policy was active and the premiums were paid till the insured's death.

The company promises to pay a death benefit to a beneficiary when the insured dies as long if the insured meets the conditions of the contract (for example, dying within the term period).

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.

The company promises to pay a death benefit to a beneficiary when the insured dies as long if the insured meets the conditions of the contract (for example, dying within the term period).

The company promises to pay a death benefit to a beneficiary when the insured dies, as long as the insured meets the conditions of the contract.

A contract is described in this paragraph (c)(2)(iv) if the contract provides that no benefit is permitted to be paid to a beneficiary other than the employee's surviving spouse after the employee's death --

The contract satisfies the requirements of this paragraph (c)(2)(ii) if the contract provides that no benefit is permitted to be paid to a beneficiary other than the employee's surviving spouse after the employee's death --

The death benefit that is paid to your beneficiaries can be adjusted higher or lower as defined in the policy without having to buy a new contract.5

The death benefit of a life insurance policy is the amount of money that is paid out to your beneficiaries upon your death and is determined by the life insurance contract.

If the policyholder dies within that contracted time, death benefits will be paid to the beneficiary.

Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder).

The most common type of guarantee is a death benefit guarantee which guarantees that upon your death the greater of the current contract value or the full amount of your contributions (minus any withdrawals) will be paid out to your beneficiary.

If the insured dies during the term period, the death benefit will be paid to the beneficiary according to the terms of the contract.

If an insured person dies during the free look period, a full death benefit must be paid to beneficiaries of the contract.

A policy is a life insurance contract between you, the policy owner and insured, and the insurer, where the insurer agrees to pay a death benefit to your beneficiary upon your payment of premiums.

The death benefit is paid tax free to the named beneficiaries, and the beneficiaries are determined by the contract owner.

Life insurance is a contract between an insured (insurance policy holder) and an insurer, where the insurer promises to pay a designated beneficiary a sum of money (the «benefits») upon the death of the insured person.

Even if paid by a modified endowment contract, a death benefit can still be passed on to beneficiaries tax free, assuming that the normal requirements for a tax free death benefit under life insurance rules are met.

Unlike life insurance contracts that provide a death benefit which is non-taxable to beneficiaries, annuities paid to an estate incur what is called «income in respect to a decedent ``.

The death benefit is paid to the stated beneficiaries of the contract, which are determined by the owner before the insured person is deceased.

Just like we saw with whole life insurance, the death benefit works in exactly the same way in that it will be paid to the beneficiary as long as the insured passes away within the dates of the policy, i.e. the contract.

Once you sign up, as long as you continue to pay your premium and meet the terms of the contract, the death benefit will be paid to your beneficiaries when you pass away.

DEFINITION of Life Insurance: Life insurance is a contract between the owner and the insurer, where the insurer agrees to pay a death benefit to the beneficiary upon the death of the insured.

As long as you pay your premium as you set out to and as described in the life insurance policy contract, your beneficiaries will receive the death benefit when you pass away.

A life insurance policy in the state of Ohio is a legal contract that states that you (the insured) will pay a life insurance company a premium and the life insurance company will pay a death benefit to a beneficiary of your choice.

Term life insurance is defined as a contract between the owner of the policy and the insurer, for a policy on the life of the insured, whereupon the insured's death, the insurer pays a lump sum death benefit to the beneficiary.

With immediate annuities, the contract must have a specific rider that offers a death benefit to pay the beneficiaries the remaining balance of an annuity if a designated number of payments were not made during the annuitant's life — meaning he died prior to realizing the full benefit.

A death benefit can usually be paid to any beneficiary you nominate, though different beneficiaries may receive different amounts depending on their circumstances (usually their age at the time the benefit begins) or your insurance contract.