Sentences with phrase «even death of a beneficiary»

Not exact matches

Nobody likes the grim idea of death, but having life insurance ensures that your beneficiary, be it your parents, children and / or spouse, can still finance their lives even after your passing.

Like traditional life insurance, the death benefit of a second - to - die policy can ensure your beneficiaries receive a minimum amount of money, even if savings and other retirement income is spent during the lives of you and your spouse.

Life Insurance is designed to pay out a lump sum to your relatives or other beneficiaries in the unfortunate even of your death, offering peace of mind and financial security at the most difficult of times.

Frequent flier miles may live on after death — Airlines often allow transfers of frequent flier miles to beneficiaries when a member dies, even if written policies are vague... (See Transfer miles)

I think life insurance is a much safer bet than Vegas, because if you die while your life insurance policy is «In Force» your beneficiary will receive the death benefit, but in Vegas your odds aren't even 50/50 on any form of gambling.

Beneficiaries continue to receive AAFMAA Survivor Assistance Services at the time of the member's death, even if they elected LTCSO.

If the bank had been made the beneficiary, they would've been given the full death benefit, even if some of the loan had already been paid off.

It is important to note, however, that even though a withdrawal or a loan is not required to be paid back, if there is an unpaid balance in the cash - value component of the policy at the time of the insured's death, then the amount of that balance will be charged against the death benefit that is paid out to the policy's beneficiary.

Privacy is still important even after death, so you might not think you would have the right to inquire about a death benefit if you are not the immediate family member, however there are circumstances where even if you are not the next of kin you may have the right to information; For example, if you are the beneficiary named on the policy.

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.

Even though the beneficiaries will receive the basic sum assured in case of your death, the Accidental Rider offers your family extra funds to make sure that you can manage all their expenditure, thereby making it less nerve - racking to deal with the loss of their loved one.

Even if your child has a sibling or other family member waiting in the wings to assume full responsibility of their needs and care in the event of your death, naming that individual as your beneficiary can not ensure that the money you intended to put towards your child's lifetime care will be used in such a way.

These organizations often operate with tight margins, and you can help further their mission even in death by naming one as a beneficiary of your life insurance policy.

A variety of life changes may impact who you need to have as your beneficiary, from a new marriage to divorce and even death.

Changes and milestones in one's life whether it being marriage, dissolution of a marriage, children born, or even a death to an existing beneficiary should be reviewed thoroughly with one's broker or agent.

Even if the policyholder dies within the window of policy coverage, your beneficiaries may still have to wait a probationary period of 1 to 3 years before death benefits are paid out.

«Life insurance is frequently used to cover debts and protect the estate assets in case of death, sometimes even paid for by the beneficiaries to help manage the cash flow of the insured,» says Minor.

Even though the beneficiaries of a life insurance policy may not have to pay taxes on a death benefit, they may pay taxes on the estate left to them.

It is important to note here, though, that even though a life insurance policy loan is not required to be repaid, if the insured dies while there is still a balance outstanding, the amount of this balance — plus interest — will be subtracted from the total amount of death benefit proceeds that are paid out to the beneficiary.

It's also worth considering buying a larger death benefit than your beneficiaries will need because life insurance benefits are paid out in a tax - free lump sum, and if invested, can reap a significant amount of interest even in the very first year.

Nonetheless, the bottom line remains: if Barbara doesn't need the cash value (in this case she doesn't, as it's inside an ILIT anyway), and can afford to continue paying the premiums, maintaining the life insurance death benefit as a «fixed income substitute» actually turns out to be a remarkably appealing fixed income investment to maintain for the rest of her life... even if the reality is that the return will only accrue to her beneficiaries and not herself.

Should the insured live past the first few years of policy ownership and pass away after that, the beneficiary would be able to receive the full amount of the death benefit — even on a plan that contains the graded death benefit option.

The amount for which you are insured, the death benefit, will be paid to your beneficiaries at the time of your death - even if you live past 100.

If you keep the policy in your name with the charity as your beneficiary, your estate will include the death benefit as part of its worth, even though the proceeds are going elsewhere.

First, the death benefit can provide a source of income for your beneficiaries, and help ensure that your dreams for them still happen — even if you are not there to personally provide for them.

Apart from this, if the insured owns a joint term insurance policy, then only one death payout is offered under the policy, even in the case of accidental death of both the insured persons, only one death benefit is payable to the beneficiary of the policy.

Even if a beneficiary is tried for murder and is found not guilty, if there is enough evidence linking them to the death, an insurer could take the beneficiary to court to argue they don't deserve the money, said Dennis Jay, executive director of the Coalition Against Insurance Fraud.

An example is, even if the policy allows for the beneficiary to be changed, the children should still be entitled to a portion of your former husband's estate that is equal the value of the death benefit.

Even though the amount of the death benefit is tied to the mortgage on the home, the beneficiaries of the policy are not required to use the proceeds to pay off the mortgage.

It allows them to ask for more life insurance coverage to ensure their beneficiaries are taken care of after their death — even getting the maximum amount if they so choose.

Like other forms of life insurance, variable life policies are designed to provide your beneficiaries (family, friends or even an organization) with a death benefit if you die while your policy is still in effect.

There is, however, the assurance of knowing that even after your death your beneficiaries can still benefit from you.

Even in a «worst case» scenario where the insured dies from a natural cause during the graded death benefit exclusion period, because their beneficiary will still receive all of the premium payments the insured made plus some small amount of interested added on!

Even though the death benefit is not income taxable to your beneficiary, the amount of the death benefit is added to the gross value of your estate for estate tax purposes unless it is owned by a life insurance trust.

With some companies, the beneficiary only receives a percentage of the amount or the death benefit can even fall over time.

Senior citizens can easily gain many benefits by getting life insurance over 80 no medical exam even in their older age.The amount of money that will be given to their children or beneficiaries after their death, can be used for the funeral expenses of the holder.