Sentences with phrase «death benefit when»

They do believe one day they will want the death benefit when they have a family.

OK, I want the cash value to be added to the death benefit when I die.

The third party becomes the new owner of the policy, pays the premiums, and receives the full death benefit when the insured dies.

Life insurance pays a death benefit when the insured party dies.

The primary beneficiary is the person who receives the death benefit when the insured dies..

In this case the children, not their mother, would receive the death benefit when their father dies..

There is no set term — whole life policies build cash value over time, and this cash value exists to support the death benefit when the policy owner no longer pays premiums.

The third party takes over paying the policy's premiums and receives the full $ 1 million death benefit when the insured dies.

And, if you get caught lying about smoking, any claim on your life insurance policy death benefit when you die may be contested by the insurance company if smoking is the cause of your death.

However, it's important to note that any money you borrow, plus interest, will be deducted from the death benefit when you die.

First and foremost, you're relinquishing the death benefit when you surrender a life insurance policy, which means your heirs will receive nothing from the policy when you die.

Survivorship life insurance is often chosen when the purpose of the insurance is to leave money to the couple's heirs, which is why it only pays the death benefit when both spouses have died.

The settlement buyer ultimately receives the death benefit when you die.

And chances are, you are more likely to live longer, so a policy that maximizes your death benefit when you die may be the better option.

Second death insurance (also known as dual - life insurance, survivorship policy, and second - to - die insurance) is a type of life insurance policy that only pays the death benefit when both both of the joint policyholders pass away.

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.

Insider's Tip: Don't worry too much about finalizing your death benefit when you apply.

The birth of a child or a divorce can affect your initial choice of who will receive the death benefit when you die.

First To Die - Pays a death benefit when you or your spouse dies, whichever comes first.

Second To Die - Pays the death benefit when both you and your spouse have passed away.

If you don't repay the loan, or you pay only part of it back, the balance will be deducted from your death benefit when you die.

That is why it is so important to work with a broker that can help you navigate the application and the company what will underwrite your activates without lying and get a policy that will pay the death benefit when you die.

Some are focused more on the initial death benefit, while other life insurance policies focus on the cash value growth, which may create a larger death benefit when all is said and done.

Finally, there is the option to sell your insurance policy to a life settlement company who will give you cash for your policy — possibly even more cash than you would get by canceling — and then they would keep the policy and continue paying the premiums, collecting the death benefit when you die

Accelerated death benefit riders pay an unrestricted advance of a portion of the life insurance death benefit when the insured experiences terminal or chronic illness as defined in the rider.

They continue to pay the premiums, and they collect the death benefit when the insured individual dies.

The cash value will become equal to the death benefit when the policy is at maturity date.

Any loan balance will simply be deducted from the death benefit when you pass away.

Your contingent beneficiary (alternate) receives the death benefit when your beneficiary does not survive your death.

Any outstanding loans will be deducted from the death benefit when a death claim is filed by the beneficiary.

A permanent life insurance policy vs a term life insurance policy would be a policy that offers a permanent death benefit when all premiums are paid vs a term life policy that only provides a temporary death benefit for period of years.

And it's worth noting that the intent of the calculator is to emphasize to you as a consumer that life insurance is a good deal if you need a death benefit when you pass.

Some annuities do not pay a death benefit when the contract holder dies.

With permanent life insurance, part of your premiums are invested and some of it can be borrowed tax - free for retirement, or your children's college education, or anything else you'd like and your heirs will get a nice death benefit when you pass away.

With permanent life insurance your beneficiaries are guaranteed to receive a death benefit when you die.

The new owner takes responsibility for paying the premiums and collects the policy's death benefit when the client passes away.

[2] The third party becomes the new owner of the policy, pays the premiums, and receives the full death benefit when the insured dies.

The rider provides an effective way for the insured to increase the death benefit when life changes such as marriage, childbirth, and homeownership, require additional coverage to make certain surviving loved ones are financially protected.

On top of that, the cash value is guaranteed to equal the death benefit when you reach 100.

The new owner takes over premium payments and receives the full death benefit when the insured dies.

If no long - term care benefits are paid, then the policy pays out the full death benefit when the insured person dies.

Then, the addition of a qualified long - term care rider will allow the life insurance contract to be accessed for living benefits by paying down the face amount of the death benefit when the policyholder qualifies for long - term care benefits.

These policies, often known as «whole» or «universal» life insurance, are designed to build up a cash value over the years and provide a death benefit when the insured passes away.

You can use all of the death benefit for long term care expenses, but your beneficiaries will still receive a guaranteed minimum death benefit when you die, usually a percentage of the original death benefit.

The objective of the IRS code change was to prevent large corporations from purchasing life insurance policies on its non-key employees simply to receive a tax free death benefit when the employee or former employee dies.

However, insurance companies can and occasionally do contest the paying of a death benefit when they suspect misrepresentation, suicide or fraud.

Please bear in mind, that the policy will end if you accept the surrender value, so you will have NO death benefit when your mother does pass away... Good luck!

On the other hand, Accidental Death and Dismemberment insurance consists of policies that only pay out a death benefit when the cause of death is not due to illness or what is generally considered natural causes.

Survivorship life insurance insures the lives of two people and pays the death benefit when the second person dies.

If you have linked your mortgage with the life insurance plan, the family will receive an accumulated death benefit when you die and your outstanding debt will be paid off by the insurer.