Sentences with phrase «income during the payout period»

Not exact matches

Deferral of Social Security income, say from age 62 to age 70, has a similar effect on payouts as in a deferred income annuity (another name for longevity insurance); mortality credits can accrue during this deferral period, say from 62 to 70.

Distributions received by the beneficiary during the remainder of the payout period will result in income tax liability that is equal to what the original owner would have owed, which is tax liability for only a portion of each payment called an «exclusion ratio.»

In case of the unfortunate event of death of policyholder during the income benefit period, the remaining payouts will be made to the nominee.

Option B - Income Protection Under this option, the Death Benefit shall be payable as Monthly Income (payouts made each month) to your nominee during the payout period as chosen by you at inception of policy.

Guaranteed Base Income (GBI), as a percentage of Sum Assured, accrues each year during the payout period.

Note: In case of death of the life insured during the payout period, the nominee can exercise an option to either continue receiving the Income Benefit and one — time Terminal Benefit or opt for the Commuted Value of the same.

o Monthly Income Benefit: In case of death of the life insured during the policy term, the nominee is entitled to receive the monthly income that starts from the date of death till the end of the policy term, subject to a guaranteed payout for a minimum period of 36 mIncome Benefit: In case of death of the life insured during the policy term, the nominee is entitled to receive the monthly income that starts from the date of death till the end of the policy term, subject to a guaranteed payout for a minimum period of 36 mincome that starts from the date of death till the end of the policy term, subject to a guaranteed payout for a minimum period of 36 months.

On the death of the Life Insured during the Payout Period, the beneficiary will continue to receive the outstanding survival benefits (Income Benefit and Terminal Benefit).

Income Benefit: Monthly income payable during the 10 year Payout Period post completion of the PolicyIncome Benefit: Monthly income payable during the 10 year Payout Period post completion of the Policyincome payable during the 10 year Payout Period post completion of the Policy Term.

Pure Income Benefit Option: If the life insured survives during the benefit payout period (starts immediately after completion of the premium payment term till maturity of the policy), he / she will receive Annual Guaranteed Income, Special Additional Bonus, & Simple Reversionary Bonus.

Survival Benefit as guaranteed income every year is payable during the payout period.

He will receive income benefits of «12,00,000 during the payout period of 5 years, as below: