Sentences with phrase «entire amount of the death benefit»

However, once the plan has been in force for a certain number of years, the beneficiary will be eligible to receive the entire amount of the death benefit when the insured passes away.

Therefore, the entire amount of the death benefit that is received can be used for whatever the beneficiary sees fit.

If, however, the insured lives past the first few years and then passes away, the entire amount of the death benefit will be paid out.

Not exact matches

At death, the entire face amount, which is composed of the base death benefit and investment, is paid to the beneficiary tax - free.

Over time, the savings component provided by the policy grows and the death benefit shrinks; if the policyholder dies after the cash value of the policy is fully realized, the entire amount paid comes from the cash value rather than the death benefit.

If, however, the insured lives past the first two or three years, and then he or she passes away, the entire amount of the stated death benefit will be paid out to the beneficiary.

This company offers OPTerm life insurance policies, which provide a level amount of death benefit throughout the entire term, or time frame, of the policy.

With the level term plans, both the amount of the death benefit and the amount of the premium due remains the same throughout the entire lifetime of the policy.

This means that if the insured passes away within the first two or three years that the policy is in force, the named beneficiary will only receive a portion of the death benefit rather than the entire stated amount.

If you named the lender as the beneficiary, the lender would receive the entire death benefit even though you've paid down the balance and if you did that, the life insurance company wouldn't issue you the amount of coverage needed — they'll typically only issue 80 % of the loan amount.

Your death benefit should encompass that entire dollar amount minus any liquid assets you already have that your family can use to make up some of the financial shortfall.

Over time, the savings component provided by the policy grows and the death benefit shrinks; if the policyholder dies after the cash value of the policy is fully realized, the entire amount paid comes from the cash value rather than the death benefit.

But many annuities reduce this risk by offering a death benefit, such as a return of some or the entire principal to your heirs upon death if you haven't started receiving income payments yet.5 Even if you have started receiving payments but the payments haven't reached the amount of premium you paid, your heirs may receive a refund of the unused premium.

And, the death benefit and the amount of the premium are guaranteed throughout the entire term of the policy.

The insured can access the entire death benefit in a short amount of time to help pay for a chronic illness.

In most cases, term life insurance will maintain a set amount of death benefit throughout the entire time of the policy.

What happens is, if you do use the benefit, again which is 2 % of the face value per month, your death benefit is reduced by that amount until the entire face value has been reduced to zero.

One type — level term — will keep the face amount (death benefit) of the policy the same throughout the entire duration of the policy.

Plus, if you go with a level term life insurance policy, the amount of the policy's death benefit, and its premium cost can remain the same throughout the entire duration of the policy.

If you choose to pay off the loan, your death benefit will be reinstated as the initial face value of the policy (plus the entire cash - value amount earned while owning the policy, if you have requested that option).

With graded benefits, the entire amount of the stated death benefit may not be paid out to the named beneficiary if the insured dies within the first few years of owing the policy.

With a level term life insurance policy, the amount of the death benefit will remain the same over the entire lifetime of the policy.

The premiums you pay for this level amount of death benefit may also be level for the entire period, may be level only for a specified period, or may increase over time.

Now the insurance company pays the death benefit of Rs. 5 Crore, this entire amount is tax free in the hands of your loved ones!

The nominee can avail the entire death benefit in a lump sum amount or avail 50 % of the benefit in a lump sum and the rest 50 % in equal monthly instalments @ 0.42 % of the Guaranteed Death Benefit for 10 years post ddeath benefit in a lump sum amount or avail 50 % of the benefit in a lump sum and the rest 50 % in equal monthly instalments @ 0.42 % of the Guaranteed Death Benefit for 10 years postbenefit in a lump sum amount or avail 50 % of the benefit in a lump sum and the rest 50 % in equal monthly instalments @ 0.42 % of the Guaranteed Death Benefit for 10 years postbenefit in a lump sum and the rest 50 % in equal monthly instalments @ 0.42 % of the Guaranteed Death Benefit for 10 years post dDeath Benefit for 10 years postBenefit for 10 years post deathdeath.

The policy promises entire sum assured as a death benefit along with accrued bonuses regardless of the amount of survival benefit already paid.

Most term life insurance plans come with an option to covert the entire or partial amount of death benefit to a permanent life insurance plan (coverage beyond age 100).

The nominee has an option to utilize the death benefit either to Utilize the entire proceeds of the policy / part thereof for purchasing an immediate annuity or withdraw the entire amount of the policy.

If, however, the insured passes away after owning this policy for more than two years, then the entire amount of the stated death benefit will be paid out (minus any unpaid cash value loan balance).

The nominee can utilize the Death Benefit by utilizing the entire proceeds of the policy or part thereof for purchasing an Immediate Annuity or to withdraw the entire proceeds of the policy or to utilize the amount of the policy or part thereof for buying a Single Premium Pension Plan.