Sentences with phrase «for paying the death benefit to the beneficiaries»

The Insurance Company — issues the policy and is responsible for paying the death benefit to the beneficiaries if the insured dies while the policy is in force

Not exact matches

Protection for your group members — Death benefit is paid in event of death of the life insured by the company to the beneficDeath benefit is paid in event of death of the life insured by the company to the beneficdeath of the life insured by the company to the beneficiary.

The death benefit for both term and permanent life insurance is paid to your beneficiaries free of income tax.

Since the insurer is guaranteed to pay a death benefit to your beneficiaries so long as all premiums are paid, permanent life insurance rates are significantly higher than those for term life insurance.

Take life insurance as an example: you pay for a policy, and if you die during the term then that money (the death benefit) goes to the person you named as your beneficiary on the policy.

You choose a death benefit and pay a premium for a certain «term» and if you die during the «term» the insurer pays out the death benefit to your named beneficiary.

It is quite different from term insurance, which covers you for set number of years and only pays death benefits to your beneficiaries.

Liberty Bankers can not be responsible for tax consequences caused by incorrect beneficiary designations: death benefits will be paid to the beneficiary on record as of the date of the annuitant's death.

If you die during the first two years, the death benefit paid to your beneficiaries generally will be the amount you paid in premiums plus interest, although some companies will pay the full face amount for accidental death.

Cash value life insurance refers to a type of life insurance that, in addition to paying out a death benefit to your beneficiary or beneficiaries upon your death, accumulates cash value inside the policy while you are alive, that you can use for whatever you please.

Death Benefit: For QLACs with return of premium and / or death benefit riders, beneficiaries will receive any remaining value in the contract in the case of the annuitant's premature death, amounting to the difference between the initial premium paid and the cumulative income payments receDeath Benefit: For QLACs with return of premium and / or death benefit riders, beneficiaries will receive any remaining value in the contract in the case of the annuitant's premature death, amounting to the difference between the initial premium paid and the cumulative income payments reBenefit: For QLACs with return of premium and / or death benefit riders, beneficiaries will receive any remaining value in the contract in the case of the annuitant's premature death, amounting to the difference between the initial premium paid and the cumulative income payments recedeath benefit riders, beneficiaries will receive any remaining value in the contract in the case of the annuitant's premature death, amounting to the difference between the initial premium paid and the cumulative income payments rebenefit riders, beneficiaries will receive any remaining value in the contract in the case of the annuitant's premature death, amounting to the difference between the initial premium paid and the cumulative income payments recedeath, amounting to the difference between the initial premium paid and the cumulative income payments received.

Term life insurance is defined as a contract between the owner of the policy and the insurer, for a policy on the life of the insured, whereupon the insured's death, the insurer pays a lump sum death benefit to the beneficiary.

Whole life requires the policy owner to pay a fixed monthly premium for the rest of their life, and upon death, the company will payout the face value of the policy (death benefit) to the beneficiary.

For DIAs with return of premium and / or death benefit riders, beneficiaries will receive any remaining value in the contract in the case of the annuitant's premature death, amounting to the difference between the initial premium paid and the cumulative income payments received.

After all, like life insurance, you pay a premium for it in exchange for a benefit to be paid to your beneficiary at your death.

Benefit: For life insurance, it is the amount of money specified in a life insurance contract to be paid to the beneficiary upon the death of the insured.

For life insurance policies that pay death benefits in the form of a lifetime payout, the portion of the payout that is not subject to tax if the policy has no refund provision or stated time period guarantee which is determined by dividing the amount of the death benefit by the life expectancy of the beneficiary.

For others they have the peace of mind of knowing that as long as they continue to pay the premiums on a permanent insurance product, their beneficiaries will eventually receive a death benefit.

For example, by making your spouse the beneficiary, they can decide whether to use the death benefit to pay the mortgage (and continue living in the house) or for a more pressing expenFor example, by making your spouse the beneficiary, they can decide whether to use the death benefit to pay the mortgage (and continue living in the house) or for a more pressing expenfor a more pressing expense.

Whether you are the sole breadwinner, one half of a joint - income couple, or a stay - at - home - parent, a term life insurance death benefit (the funds that your beneficiaries will receive upon your passing) can do much more than add a temporary boost to family finances and pay for funeral and burial expenses.

For SPIAs with death benefit riders, a benefit would be due to a beneficiary if the cumulative income payments made are less than the initial premium paid.

You pay a premium for as long as you live, and a benefit will be paid to your beneficiaries upon your death.

The insurance company will pay the death benefit, for both of the lives insured, to the specified beneficiary.

As with other types of life insurance, you pay regular premiums to your insurance company, in exchange for which the insurance company will pay a specific benefit to your beneficiaries upon your death.

In return for a premium payment, an insurance company will pay out a stated amount of tax - free death benefit to a named beneficiary — assuming, of course, the policy is in - force when the insured passes away.

This rider lets the policy owner take part of the death benefit to pay for nursing home care and home health care of the insured person, while still leaving at least a partial death benefit to the beneficiaries.

For example, VUL provides tax - deferred cash value growth potential and income tax - free death benefits paid to your beneficiaries.1

Term life insurance is a «pure» insurance policy: when you pay your premium, you're just paying for the death benefit that goes to your beneficiaries in the event of your death.

+ read full definition for the death benefitDeath benefit Money that your life insurance or savings and pension plan (s) pays to your estate or beneficiary after your death.

If your beneficiaries don't know about the policy, they won't know to claim the death benefit you've been paying for all this time, and having easy access to the policy will help them claim the payout as soon as possible.

In particular, these policies can help pay for estate taxes if the death benefit is paid directly to the named beneficiaries.

Term life offers coverage for a set period of time and then expires, and pays a death benefit to beneficiaries if the policyholder dies while the policy is in effect.

The company promises to pay a death benefit to a beneficiary when the insured dies as long if the insured meets the conditions of the contract (for example, dying within the term period).

Should you die while the policy is in force, your beneficiaries will receive not only your the initial face value as a death benefit, but also it's common for dividends to buy additional insurance by way of what are called «paid up additions», so the death benefit could actually be higher than the face value at the purchase of the policy.

The company promises to pay a death benefit to a beneficiary when the insured dies as long if the insured meets the conditions of the contract (for example, dying within the term period).

In life insurance, the insurer agrees to pay the beneficiaries a specified sum (death benefit) to indemnify them for the financial loss resulting from the death of the insured.

After paying a lower premium for such a life annuity, the employee would be able to retain a larger portion of his or her account, maximizing the employee's lifetime benefits, while also leaving larger death benefits for a beneficiary, from the remaining amount of the account.

After the two - year Graded Death Benefit period, if you die for any reason the full face amount of the policy shall be paid to your beneficiary.

Alternatively, the employer may own and pay for the policy but permit the employee to name the beneficiary under the policy for a portion of the death benefit.

In many ways, Final expense insurance — which is also oftentimes referred to as funeral insurance or burial insurance coverage — works like most other types of life insurance in that, in exchange for a premium payment, a death benefit will be paid out to a named beneficiary (or beneficiaries).

Voluntary life insurance is an optional benefit offered by employers, where an employee pays a monthly premium in return for cash paid to beneficiaries upon death.

No medical exam life insurance works in a similar manner to regular life insurance coverage in that in return for a premium payment; a death benefit amount is paid out to a named beneficiary.

In exchange for paying premiums on a policy, the insurance company provides a lump - sum payment (far in excess of what you paid in), known as a death benefit, to beneficiaries upon the insured's death.

In its most basic sense, funeral insurance actually works in a similar fashion to most other types of life insurance in that a person pays a premium to an insurance company in exchange for the payment of a death benefit to a named beneficiary in the case of the insured's death while the policy is in force.

Death Benefit Only Plan — Where death benefits would be paid to the named beneficiary of an employee and which is a non-taxable benefit for the employee's esDeath Benefit Only Plan — Where death benefits would be paid to the named beneficiary of an employee and which is a non-taxable benefit for the employee's Benefit Only Plan — Where death benefits would be paid to the named beneficiary of an employee and which is a non-taxable benefit for the employee's esdeath benefits would be paid to the named beneficiary of an employee and which is a non-taxable benefit for the employee's benefit for the employee's estate.

The cost of insurance for the renewable term element inside a universal life insurance policy can be high in later years, but some companies reduce the cost of insurance by paying the death benefit to beneficiaries over an extended period of 30 years.

Accordingly, a QLAC may provide for a single - sum death benefit paid to a beneficiary in an amount equal to the excess of the premium payments made with respect to the QLAC over the payments made to the employee under the QLAC.

The death benefit is paid to the beneficiary if the insured person dies during the one year period of time in which they term lasts for.

For starters, any money you borrow and do not pay back will be deducted from the death benefit eventually paid to your beneficiaries.

Liberty Bankers can not be responsible for tax consequences once death benefits are paid to the beneficiary on record as of the date of the annuitant's death.