Sentences with phrase «funds upon your death»

Life insurance policies provide funds upon your death.

The Moss / Chumley Memorial Fund was begun in 1989 by Frank Moss and the Meadows Museum as a tribute to Jim Chumley; Moss's name was added to the fund upon his death in 1991.

Also, your premiums may be higher if you choose to purchase more coverage so that your death beneficiaries will receive more funds upon you death.

They must be aware of it, but you can be the owner of the policy, pay the premiums, and determine who will be the benefactor of the funds upon death, which could be yourself.

Life insurance provides the foundation of coverage which can guarantee a source of funds upon the death of the insured.

You can also select beneficiary options so you can determine who will receive funds upon your death.

Jean Keim shared there will be a new trust award funded upon her death: $ 1,000 teaching or supervision of group psychotherapy

Not exact matches

He said he would deliver cash to a trust for his wife's benefit upon his death, with instructions to put 10 % in bonds and 90 % in index funds, preferably from mutual - fund house Vanguard Group.

If you haven't taken the time to draft a living will or outline exactly how you want your retirement funds — and any other financial assets you own — distributed upon your death, there is a risk that your significant other may not see your hard - earned dollars.

A donor - advised fund account also provides tax - advantaged ways to add to your account upon your death.

Upon his death in 1927, his will established the Charles Bigelow Fund, reading in part, «In making this gift it is my desire to promote so far as is my power a better knowledge of the education, using the word education in its broadest sense to include influence as well as methods of training, which will best tend to improve the human race.»

Upon his death in 1963, Thomas bequeathed to Harvard funds that support the professorships at the Ed School, the Faculty of Arts and Sciences, and the Divinity School.

Upon the wife's death, as long as she didn't change the beneficiary, the funds would then be passed to the child.

The article we published on Survivor's Benefits stated that «Upon your death, the funds in your TSP account can not remain in the TSP.

And funding a policy can be done in months a couple of years, not 10 + years as many suggest based upon conventional policy designs that focus on death benefit.

A very common approach is to use a second to die life policy OR a guaranteed universal life policy to fund a stand alone special needs trust upon the trustmaker's death.

If the TFSA has only a beneficiary designated, the funds will be paid, upon your death, in cash to the beneficiary.

The death benefit of a life insurance policy is the amount paid out upon the death of the insured, while cash value refers to the amount of funds in a permanent life insurance policy's cash account.

Estate planning — Life insurance can provide funds for estate taxes and other liabilities upon your death, and may help your survivors avoid the sale of a home or business in order to meet those obligations.

Other popular reasons for having life insurance include: Income replacement for dependents; to pay off debt like a mortgage or a line of credit; to create an emergency fund; to cover final expenses incurred upon your death; for estate planning reasons or to leave money to a favourite charity.

Upon the death of the accountholder (s), the funds in the account will be distributed evenly to each beneficiary who survives the account holders (s)(or to his or her representatives as applicable).

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.

And those with a cash refund would return residual funds to the policy beneficiaries upon death.

You may exclude certain assets from the probate process, typically enacted upon your death, guaranteeing that funds are available to take care of your pet in the short - term.

The Pet Survivor Program is funded through planned giving in wills and trusts that take effect upon a person's death.

$ 500,000 Term Life Insurance Term life insurance is a financial security product that pays out funds in a lump sum upon death of the insured.

With no retirement savings, no emergency fund, and no life insurance, how does a family continue to pay bills upon the death of a breadwinner?

Estate planning — Life insurance can provide funds for estate taxes and other liabilities upon your death, and may help your survivors avoid the sale of a home or business in order to meet those obligations.

In this case, the burial insurance will cover death and funeral expenses that are agreed upon in the contract and the term life insurance policy may be used as a payout to the beneficiaries to help provide financial support for living needs, bills, and children's» education funds.

The goal of an ILIT is to ensure funds are available upon your death to cover final expenses and care for your beneficiaries.

COLI was originally purchased on the lives of key employees and executives by a company to hedge against the financial cost of losing key employees to unexpected death, the risk of recruiting and training replacements of necessary or highly trained personnel, or to fund corporate obligations to redeem stock upon the death of an owner.

These funds could purchase a single premium, paid - up policy with a $ 130,000 death benefit payable to the charity upon her death.

And funding a policy can be done in months a couple of years, not 10 + years as many suggest based upon conventional policy designs that focus on death benefit.

Then, upon the death of the insured, the funds from a burial insurance policy will be paid out, free of income taxes, to your named beneficiary (or beneficiaries).

A very common approach is to use a second to die life policy OR a guaranteed universal life policy to fund a stand alone special needs trust upon the trustmaker's death.

An indexed universal life insurance policy pays a death benefit, also the opportunity to build funds based upon the increase of an underlying market index.

on life insurance policies release a sizable chunk of the policy's death benefit to the policyholder while he / she is still alive, allowing the usage of the death benefit funds on valid diagnosis of one of the critical or terminal illnesses stated in the policy.These riders» critical / terminal illness payout is tax - exempt, and beneficiaries also receive the left over face value, untaxed, upon the policyholder's passing.

It offers a death benefit upon the death of the second insured and cash accumulation, which can provide a source of funds if needed.

Sole proprietorship's, partnerships, and closed corporations buy life insurance to fund buy - sell agreements upon the death of an owner, partner or shareholder.

The least expensive way to fund the payment of these taxes is through a tax free, upon death, term or permanent insurance policy.

The funds can also be used to payoff any debts that may become unsustainable upon the death of one of the partners.

Upon the unfortunate event of death within the term of the policy, the higher of Total Fund Value or Assured death benefit is payable to the nominee and the policy gets terminated.

For instance, if the surviving policyholder were a stay - at - home spouse without an independent source of assets, that person would need funds to maintain living and business expenses upon the death of the main breadwinner.