Sentences with phrase «death benefit payments so»

In 1971 Ohio State Life was the first company to offer an advance on death benefit payments so that the policyholder could sustain their life.

Not exact matches

With term and permanent life insurance, you make premium payments so that in the event of your passing, your loved ones and beneficiaries will receive the death benefit proceeds from the policy.

The cash value will be included in the death benefit payment, so as your cash value grows the insurer's commitment to cover the death benefit shrinks.

Another thing to consider is that a mortgage life insurance policy is often written as a decreasing term policy, so the death benefit decreases over time, (just as your mortgage payoff amount decreases as you pay your monthly mortgage payments), but the premium remains the same over the life of the policy.

You may need to purchase more coverage so that the death benefit includes the extra mortgage payments.

Some may select a death benefit that matches the mortgage on the home, so the spouse does not have the burden of monthly mortgage payments.

death benefit income streams paid to a non-dependant (payments to a dependant are tax - free so the proportions do not need to be calculated).

In this example, the present value of the death benefit exceeded the present value of the premium payments — i.e., the sum total of each year's discounted cash inflows / outflows is positive — and so the policy is sellable.

The death benefit can provide income replacement, cover any major debts like a mortgage payment so your family can have a roof over their head and pay for funeral expenses.

If the insured dies during this period, death benefits are paid out to the beneficiary so long as premium payments have been made.

If you die on active duty, SGLI will allow your family to receive an extra $ 150,000 payment up to the maximum allowed coverage of $ 400,000, so you have the option to pay for a lower coverage amount and still receive the full $ 400,000 death benefit depending on the circumstances.

A pure LIC term insurance plan which provides for the payment of the death benefit in case of unfortunate death of the life insured so that the family can take care of their financial needs in the absence of the bread - winner.

Another thing to consider is that a mortgage life insurance policy is often written as a decreasing term policy, so the death benefit decreases over time, (just as your mortgage payoff amount decreases as you pay your monthly mortgage payments), but the premium remains the same over the life of the policy.

With term and permanent life insurance, you make premium payments so that in the event of your passing, your loved ones and beneficiaries will receive the death benefit proceeds from the policy.

However, many companies also allow you to take the death benefits as an annuity which means that your beneficiaries can receive the life insurance proceeds monthly or as a set payment every few years or so.

That means that from the time of purchase to the end of the policy, your premium payments and death benefit should remain locked in place (so long as you make your premium payments on schedule, and haven't taken out any cash value).

With an increasing death benefit you are buying more insurance, so the payment would be $ 270,000 ($ 250,000 plus $ 20,000).

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

Whole life insurance does give the policy owner the option of using dividend payments to purchase additional paid up insurance, so hypothetically a whole life policy can have an increasing death benefit over time if this dividend option is chosen.

The benefit being that you can make more or less premium payments and lower your death benefit, if you so desire.

These give the policy flexibility in the later year if you want to stop making premium payments, but keep the policy in force so it will still pay out the death benefit to your beneficiaries.

The cash value will be included in the death benefit payment, so as your cash value grows the insurer's commitment to cover the death benefit shrinks.

Available waiver of premium rider and accidental death benefit rider can be added to your limited payment life insurance policy if you should so choose.

For Standard Life Provisions, the company offers Salary - based Benefit Schedules; Dependent Coverage; Waiver of Premium (in case employees become disabled and so that they can continue life insurance without any premium payments), Accelerated Death Benefits (for employees with a life expectancy of 12 months), Portability (for those who want to leave their employment), Conversion (for employees to convert term life insurance to a new policy), and Bereavement Counseling (for counseling services).

But so - called cash value life insurance policies have not only a death benefit but an investment account, which is contributed to with a part of every premium payment.

If you want to get the payment out of the way or even leave a section of your death benefit to charity, this policy is a great way to do so.