Sentences with phrase «death benefits on»

Plus, you give up the death benefits on the policy once you take the cash.

Yes, the insurer may deny coverage and refuse to pay a claim for death benefits on a life insurance policy if it is determined the applicant for coverage lied about his or her health on the application, and the lie was related to a health issue which would have resulted in the insurance company declining to insure the person for life insurance.

It is a request made by the beneficiary for the payment of Death Benefits on the death of the Life Assured, as per the terms of the policy.

Similar to burial insurance, the death benefits on guaranteed issue life insurance are typically smaller than those of many traditionally underwritten policies.

The death benefits on a whole life policy are usually guaranteed, so you can know exactly how much money your family will receive in the event of your unexpected passing.

As I've previously reported, life insurance companies have been getting heat for not paying death benefits on unclaimed life insurance policies after the insured has become deceased.

Additionally, to avoid potential taxation of death benefits on business owned life policies issued after August 17, 2006, you need to adhere to the rules and guidelines established under the Pension Protection Act of 2006.

¹ Death benefits on life insurance owned by a C Corporation may be subject to the corporate Alternative Minimum Tax (AMT).

Therefore, it is important to ask the insurance provider whether the death benefits on the policy will be «graded.»

There are some insurance carriers that may provide death benefits on burial insurance that are up in the range of $ 100,000 or more — and in some instances, coverage may even be closer to $ 500,000.

If their situations change, it is unlikely that they will be able to increase or decrease either the premiums or the death benefits on their whole life policies without surrendering them and purchasing new policies.

Finally, a couple more benefits of a MEC are that the death benefit on life insurance is tax free and the death benefit can be accelerated due to chronic illness, as a possible alternative or addition to long term care insurance.

Your death benefit on your life insurance is not taxed to your beneficiary.

And the death benefit on a properly designed life insurance retirement plan increases each year as your cash value grows, so when you do die, your beneficiary receives the maximum death benefit possible.

Also, how exactly would a life insurance company make any money if they guaranteed a $ 1 million dollar death benefit on $ 400k in premiums, and at death they paid BOTH in full?

Instead, you typically name spouses, trusted relatives, or trustees who will manage the death benefit on behalf of your minor children.

Yet, if the insured does not ever need this benefit, they will still maintain the protection of the death benefit on the policy, along with the cash growth.

As long as you keep up with the premium payments and you don't cancel the policy early, there will be a guaranteed death benefit on both term and whole life.

Should the insured pass away any time after two years have elapsed, the beneficiary would receive 100 percent of the amount of the stated death benefit on the policy.

First, they pay out the death benefit on a graded basis, and second, they charge a higher premium than alternate policies.

Reevaluate your death benefit on an ongoing basis — especially as you earn more, change jobs, have a child, get married, get divorced, experience a serious illness or disability, begin caring for an aging parent, have a death in the family, or start a business.

Now it's true that the death benefit on both is only $ 4 million compared to $ 8 million with the two policies, but as you can see the price is significantly less than even insuring one of them for $ 4 million.

The state guaranty funds stand behind the insurance companies, and no one has failed to receive a death benefit on a timely basis as a result.

The recent maturity of two large policies, one with no extension and one with a reduced death benefit on extension, has significantly improved the balance of the portfolio: policies with no expiry date now account for 44 % of the portfolio compared with 41.7 % a year ago.

For a chronic illness claim, the minimum accelerated death benefit amount per election, except the final election, is 5 % of the death benefit on the initial election date or $ 50,000, whichever is less.

You must apply for an additional policy to increase the Death Benefit on the policy.

The death benefit on this type of policy is not paid out until the second person dies however.

The amount of the death benefit on the unemployed spouse is still unlikely to be as much as the one on the working spouse, but it should still be substantial enough to prevent financial burden.

The death benefit on the life insurance policy is there as security that the lender will get the loan repaid should this happen.

Term insurance is the least expensive way to purchase a substantial death benefit on a coverage amount per premium dollar basis over a specific period of time.

An existing life insurance policy can be used to satisfy the lenders requirements as long as the amount of death benefit on the policy is enough to cover the loan amount required.

LTCSO allows the owner of the AAFMAA policy the option of converting the death benefit on an eligible insured life — normally payable only upon the death of the insured — into regular periodic payments prior to death, specifically to defray the cost of nursing home, custodial or home health care for the insured.

That means the death benefit on mortgage life insurance decreases over the years just like your falling loan principal.

Since the death benefit on term life insurance is paid on less than 1 % of policies, there is relatively low risk to insurers.

A death benefit on your insurance policy is an amount of money that may be paid out in a single lump sum...

Finally, there are the types of expenses your loved ones would normally spend a life insurance death benefit on.

This handy rider gives you the power to increase the size of the death benefit on your current policy without having to undergo a new medical exam, which is great if you're over 35 or have developed new health issues since you last bought life insurance.

Term insurance is also the least expensive way to purchase a substantial death benefit on a coverage amount per premium.

In other words, the death benefit on the policy is designed to go down over time along with your mortgage balance.

This means that even if you have drawn on a particular rider, you remain eligible for the death benefit on the life insurance plan.

If your policy was issued after 8/16/2006, the life insurance death benefit on the life of a company employee payable to policy owner / employer can be subjected to income taxes.

The death benefit on most equity - indexed annuities is equal to the full contract value, i.e. premium plus accrued gains compounded annually minus any prior withdrawals, calculated as of the date of death, or in some cases, as of the last contract anniversary.

Usually, a parent can buy only half the death benefit on a child compared to his or her own policy.

What is the death benefit on a fixed deferred annuity?

Be cautious of canceling a variable annuity that has a loss, as in these cases the death benefit on the annuity may be at least equal to your cost basis, so by canceling the annuity; you would be foregoing some level of death benefit.

«Assuming normal underwriting costs, in order to pay an $ 800,000 death benefit on a $ 200,000 premium, the insurance company will need to earn about 8 percent a year,» Buck said.

The risk of paying the death benefit on a policy for a smoker, as opposed to a similar person who does not smoke cigarettes, is significantly higher.

An accidental death benefit rider allows you to increase the death benefit on your policy in case you die as a result of an accident or injury (typically you must die within 90 days of the accident or injury to qualify).

Unlike many other decreasing term life insurance policies, the death benefit on the Farmers Decreasing Term plan goes down monthly as versus on an annual basis.

Since the life cover continues even after the incidence of critical illness, the family can avail of death benefit on Samir's unfortunate death over the policy tenure.