Sentences with phrase «death benefit amount if»

This is because not all policies will automatically pay out 100 % of the stated death benefit amount if the insured passes away within a certain amount of time after purchasing the policy.

An optional benefit that will increase the death benefit amount if your death is due to an accident.

In other words, you get some access to the death benefit amount if you meet certain requirements.

A graded death benefit life insurance policy will pay out only a certain percentage of the stated policy death benefit amount if the insured dies within the first 1 to 3 years after initially purchasing the policy.

This add on allows you to receive up to 50 % of your death benefit amount if you are diagnosed with a terminal illness.

Accidental death benefit rider — This rider will increase the death benefit amount if the death is the result of an accident.

An optional benefit that will increase the death benefit amount if your death is due to an accident.

Not exact matches

Do ask yourself: If today I gave you a check in the amount of the death benefit of the life insurance policy you're considering, would you quit your job and work free for me until you die?

Finally, if you die before the loan is paid back, the loan amount will be deducted from the death benefit your beneficiaries receive.

They also have a death benefit, meaning that if you die before you started receiving payments, your beneficiary can receive a specified amount.

If you have already accumulated assets, you can subtract the amount of those assets from your total death benefit need, assuming they are somewhat liquid and wouldn't require a large amount of effort or loss in order to gain access to cash.

To calculate the amount of the death benefit, Service Canada first calculates the amount that the CPP retirement pension is or would have been if the deceased was age 65 at the time of death.

If you die within the term, your beneficiaries receive the death benefit amount to help replace your income.

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.)

If you die by any means after the first two years, the full death benefit amount will be paid to your beneficiaries.

If the beneficiary is a minor, another option is an «interest income» payout, which makes guaranteed payments toward the interest on the death benefit for a specified time — for example, until the minor comes of age — at which point the benefit amount becomes available to that beneficiary.

An accelerated death benefit allows a policyholder to receive an advance of the face amount if diagnosed with a terminal illness and given less than twelve months to live.

If your beneficiary tries to claim the death benefit and the insurer finds out you died from a previously undisclosed alligator - wrestling avocation, the insurer could recalculate your premiums to the amount it believes you should have been paying and subtract that amount from the payout.

Use of the accelerated death benefit with permanent policies may increase countable assets if the amount advanced exceeds the cash surrender value.

Finally, if you die before the loan is paid back, the loan amount will be deducted from the death benefit your beneficiaries receive.

If you die before it is repaid, the carrier will reduce the death benefit your beneficiaries receive by that unpaid amount.

If you die with an outstanding loan, any amount still owed, plus interest, will be taken from your death benefit before your beneficiary receives the remainder.

if someone had $ 1,000 per month to spend on life insurance, if the entire amount is applied to the base premium, this would purchase a larger death benefit.

Similarly, a policy's death benefit can be customized (the amount can range from $ 50,000 to over $ 1 million) and should reflect your family's financial needs if you passed.

So, if your financial situation changes over time and you want a greater amount of coverage, you would be able to increase your policy's death benefit without demonstrating your insurability.

If you die during the first two years, the death benefit paid to your beneficiaries generally will be the amount you paid in premiums plus interest, although some companies will pay the full face amount for accidental death.

A deferred income annuity has a death benefit option that returns your initial purchase amount to your beneficiaries if you die before the commencement age you've chosen.

Benefits increase 5X in case of accidental death If you die as the result of an accident (as defined in your policy) before age 85, your beneficiary will be eligible to receive five times your coverage amount.

If you're inquiring as to what happens to the cash value balance, this does not get added to the death benefit amount.

If you pass away after and have borrowed against the cash value of your policy, the amount borrowed will be deducted from the death benefit.

Like traditional life insurance, the death benefit of a second - to - die policy can ensure your beneficiaries receive a minimum amount of money, even if savings and other retirement income is spent during the lives of you and your spouse.

It gives you access to a portion (or full amount) of your policy's death benefit, if you are diagnosed with a terminal illness resulting in six months or less to live.

For example, if you have a pre-existing condition and want a $ 350,000 death benefit to cover your mortgage, you will only be able to get this amount of coverage through a term life insurance policy.

The Legalese «The Acceleration of Death Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rDeath Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rdeath benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rdeath of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.»

(o) If there is no person who would be entitled, upon application therefor, to an annuity under section 2 of the Railroad Retirement Act of 1974 [98], or to a lump - sum payment under section 6 (b) of such Act, with respect to the death of an employee (as defined in such Act), then, notwithstanding section 210 (a)(9)[99] of this Act, compensation (as defined in such Railroad Retirement Act, but excluding compensation attributable as having been paid during any month on account of military service creditable under section 3 of such Act if wages are deemed to have been paid to such employee during such month under subsection (a) or (e) of section 217 of this Act) of such employee shall constitute remuneration for employment for purposes of determining (A) entitlement to and the amount of any lump — sum death payment under this title on the basis of such employee's wages and self — employment income and (B) entitlement to and the amount of any monthly benefit under this title, for the month in which such employee died or for any month thereafter, on the basis of such wages and self — employment incomIf there is no person who would be entitled, upon application therefor, to an annuity under section 2 of the Railroad Retirement Act of 1974 [98], or to a lump - sum payment under section 6 (b) of such Act, with respect to the death of an employee (as defined in such Act), then, notwithstanding section 210 (a)(9)[99] of this Act, compensation (as defined in such Railroad Retirement Act, but excluding compensation attributable as having been paid during any month on account of military service creditable under section 3 of such Act if wages are deemed to have been paid to such employee during such month under subsection (a) or (e) of section 217 of this Act) of such employee shall constitute remuneration for employment for purposes of determining (A) entitlement to and the amount of any lump — sum death payment under this title on the basis of such employee's wages and self — employment income and (B) entitlement to and the amount of any monthly benefit under this title, for the month in which such employee died or for any month thereafter, on the basis of such wages and self — employment incomif wages are deemed to have been paid to such employee during such month under subsection (a) or (e) of section 217 of this Act) of such employee shall constitute remuneration for employment for purposes of determining (A) entitlement to and the amount of any lump — sum death payment under this title on the basis of such employee's wages and self — employment income and (B) entitlement to and the amount of any monthly benefit under this title, for the month in which such employee died or for any month thereafter, on the basis of such wages and self — employment income.

So, if you had a $ 500,000 death benefit and your insurer capped the amount you could accelerate at «the lesser of $ 250,000 or 75 % of the policy's face value», you could request up to $ 250,000 while still living.

Given their intent, survivor life insurance policies can have incredibly high death benefits and you won't be limited if you need a fair amount of coverage.

If the loan has not been paid back at the time of death, the amount of the loan will be deducted from the death benefit amount.

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.)

If your intention is to build up cash savings to protect your loved ones in case something happens to you, the death benefit protection offered by cash value life insurance will typically provide them with a greater amount than the cash value of your account.

Back in the day, any form of flying was considered extremely hazardous and most life insurance companies would either force the applicant to pay an exorbitant amount or they would add an aviation exclusion clause to the policy, in other words, if you died as the result of a plane crash, your beneficiaries wouldn't receive the death benefit.

If you die within two years of buying your guaranteed life insurance policy, you don't get the full death benefit amount.

The repayments that you then make to your life insurance policy will usually have a low rate of interest — and, if you do not end up paying back these funds, the amount of the unpaid balance will be deducted from the death benefit that your beneficiary receives.

If the death benefit goes to your estate, probate proceedings could delay distributing the money, and the cost of probate could diminish the amount available to your heirs.

If you have an outstanding loan on your whole life insurance policy when you die, the death benefit that is paid out to your beneficiary (or beneficiaries) will be reduced by the unpaid amount of..

Here, if the annuitant were to die within the protected period, the enhanced death benefit will be the greater of the minimum benefit amount, less monthly income received, and the early death benefit.

Under either option, a higher death benefit may apply if the value in the Policy Account reaches a certain level relative to the Face Amount.

For life insurance policies that pay death benefits in the form of a lifetime payout, the portion of the payout that is not subject to tax if the policy has no refund provision or stated time period guarantee which is determined by dividing the amount of the death benefit by the life expectancy of the beneficiary.

If the goal is to follow the MEC rules, then the wealth building strategy would be to maximize the amount of cash that can be deposited into the policy while maintaining the appropriate amount of death benefit.

However, it contains a Graded Death Benefit for the first two years — this means that if death occurs within the first two years of policy ownership, your beneficiaries will receive your accumulated premium payments and 10 % interest instead of the face amount of your poDeath Benefit for the first two years — this means that if death occurs within the first two years of policy ownership, your beneficiaries will receive your accumulated premium payments and 10 % interest instead of the face amount of your podeath occurs within the first two years of policy ownership, your beneficiaries will receive your accumulated premium payments and 10 % interest instead of the face amount of your policy.