Sentences with phrase «distributed as a death benefit»

Not exact matches

If you already own life insurance, you can add the charitable organization as another beneficiary and specify how you want the death benefit distributed.

The legislation has since changed, as explained below, but many of the Tribunal's comments (especially on the nature of a scheme administrator's power to decide to whom to distribute death benefits) are particularly relevant to the current legal position.

It is important to keep in mind that if the policy owner dies at any time during the term period, simply buying just the traditional term coverage and investing the difference will always provide the greatest return on capital, because in this case the policy owner's estate would not only receive the death benefit but can distribute the invested cash as well.

In addition, loans from insurers secured by policy values are not income and earnings credited to an owner's policy values (known as «inside buildup») by the insurance company are not currently taxed (and may escape taxation altogether if such earnings are not distributed other than as part of the death benefits paid upon the death of the insured).

You can list several on your policy, and either distribute the death benefit among them as you see fit or order them like pageant contestants, with one «winner» and then a first runner up, second runner up, etc., so that if the first beneficiary is unable to receive the death benefit, there's someone else on the list.

Any money that is not spent on nursing care benefits will be distributed to your heirs as an income tax - free death benefit under Internal Revenue Code Section 101 (a)(1).