Sentences with phrase «income life insurance policyholders»

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Life insurance is intended to replace lost income if the policyholder dies prematurely, he explained.

1Withdrawals from life insurance policies may be subject to fees, penalties, and income taxes depending on the specific life insurance policy and the policyholder's tax situation.

In addition, although not guaranteed, these mutual that offer participating policies have life insurance dividends, that are paid to policyholders income tax free.

, but many people will use a life insurance benefit to meet their financial obligations after the loss of the policyholder's income.

Beneficiaries can then use the money for whatever they want, but many people will use a life insurance benefit to meet their financial obligations after the loss of the policyholder's income.

The Bankers Life Insurance Company investment policy is predicated upon ultimate protection and providing stable, predictable income to the company's policyholders.

1 Withdrawals and loans from life insurance policies may be subject to fees, penalties, and income taxes depending on the specific life insurance policy and the policyholder's tax situation.

Also known as an advanced life deferred annuity, longevity insurance is intended to provide guaranteed income for life once the policyholder reaches an age when other retirement funds may be mostly depleted.

Life insurance provides income to beneficiaries in the event of a policyholder's death.

Death benefits are the way in which annuities and life insurance policies compensate those close to or dependent upon the deceased policyholder for the costs associated with death (e.g. funeral expenses) and potential loss of income.

It made sense that policyholders would want to keep term insurance instead of expensive whole life insurance, especially here in Palo Alto or the Bay Area, where housing prices and incomes were rising very quickly and folks realized that they needed larger and larger amounts of term insurance to replace the income of the main breadwinner or to pay off a large mortgage at death.

If your income increases, you may need to review the face value (the amount paid to beneficiaries at the policyholder's death) of your life insurance policy.

HDFC Life Income Benefit on Accidental Disability Rider is available under this HDFC term insurance plan which can be added to the plan on request of the policyholder.

Payment of Income: Annuity income is paid after Kotak Mahindra Old Mutual Life Insurance Limited receives of a «Certificate of Existence» signed and submitted by the policyholder every year as per the format and procedure laid down by it (the insurance coIncome: Annuity income is paid after Kotak Mahindra Old Mutual Life Insurance Limited receives of a «Certificate of Existence» signed and submitted by the policyholder every year as per the format and procedure laid down by it (the insurance coincome is paid after Kotak Mahindra Old Mutual Life Insurance Limited receives of a «Certificate of Existence» signed and submitted by the policyholder every year as per the format and procedure laid down by it (the insuranceInsurance Limited receives of a «Certificate of Existence» signed and submitted by the policyholder every year as per the format and procedure laid down by it (the insuranceinsurance company)

An endowment insurance policy pays a sum or income to you - the policyholder - if you live to a certain age.

A critical reason to purchase life insurance is to ensure that one's dependents, i.e. parents, spouse and children, receive a lump sum or a regular monthly income that will guarantee their financial security, in the unfortunate event that the policyholder passes away or gets disabled (thus putting a stop to his / her income).

Life insurance payouts are commonly used to help cover funeral costs and the loss of income associated with the policyholder's absence.

The cash that is in a universal life insurance policy can be either borrowed or withdrawn by the policyholder for any reason — such as for paying off debt, funding a loved one's college education, or helping to supplement retirement income needs.

Term life: Term life insurance policies are available as income protection throughout the policyholder's working life and require no medical exam.

For the last decade, carriers and producers have de-emphasized cash accumulation insurance products (which build value that can be accessed by the policyholder or turned into supplemental retirement income) in favor of no - lapse guarantee life products that simply promote cheap premium.

In this way, disability income policies differ from critical illness insurance, which pays just a single lump - sum payment if the policyholder is impacted with a serious or life threatening disease.

At the core of combined coverage plans is the life insurance policy, with a designated face amount that will provide the policyholder's beneficiary with an income tax free death benefit.

Longevity insurance, [1] insuring longevity, also known as a longevity annuity [2] or deferred income annuity, [3] is an annuity contract designed to provide to the policyholder payments for life starting at a pre-established future age, e.g., 85, and purchased many years before reaching that age.

Cash from a whole life insurance policy can be either borrowed or withdrawn at any time by the policyholder, and for any reason, including the supplementing of retirement income or the payoff of debt.

American Income Life Insurance Company policyholders are able to access information about their coverage and their account directly online via the company's website.

• Income inclusion - If the contract does not meet the life insurance contract definition, then the income generated in the contract in every taxable year will be considered as ordinary income accrued or received by the policyhIncome inclusion - If the contract does not meet the life insurance contract definition, then the income generated in the contract in every taxable year will be considered as ordinary income accrued or received by the policyhincome generated in the contract in every taxable year will be considered as ordinary income accrued or received by the policyhincome accrued or received by the policyholder.

A permanent life insurance policyholder may be able to borrow or to withdraw these funds for any reason at all — including the payoff of debt, the supplementing of retirement income, or the assurance that a child or a grandchild will be able to pay for their college expenses.

The funds that are in the cash value component of a permanent life insurance policy may be withdrawn or borrowed by the policyholder for any reason that they see fit — including the payoff of debts, the supplementing of retirement income, or even for taking a nice vacation.

The money that is inside of the permanent life insurance policy's cash value may be withdrawn or borrowed for any reason that the policyholder sees fit — including the payoff of debts, the supplementing of his or her retirement income, and / or even for taking a nice vacation.

Life insurance Policyholder is eligible for tax exemptions under Income Tax Act Section 80D and 80C.

Some advisors recommend an amount of life insurance that equals or exceeds two to six times the annual income of the policyholder.

Tax benefit available only for premium paid for specified persons Under Section 80C of the Income Tax Act, any amount paid by a policyholder towards life insurance premium for self, spouse or his / her children can be claimed as deduction from taxable iIncome Tax Act, any amount paid by a policyholder towards life insurance premium for self, spouse or his / her children can be claimed as deduction from taxable incomeincome.

HDFC Life Click2Protect Plus term insurance plan offering from HDFC provides policyholders with a variety of cover options, namely the Life Cover option, Extra Life with accidental death benefit, option, Income option and Income Plus option.

Edelweiss Tokio Life Protection is a pure Term Insurance Plan which provides a lump sum to the family in the event of death of the policyholder taking care of the income replacement needs.

Aegon Life Easy Protect Insurance Plan is a term insurance plan where the death benefit is not paid in a lumpsum but paid in monthly installments so that the income needs of the family are met in the unfortunate death of the poliInsurance Plan is a term insurance plan where the death benefit is not paid in a lumpsum but paid in monthly installments so that the income needs of the family are met in the unfortunate death of the poliinsurance plan where the death benefit is not paid in a lumpsum but paid in monthly installments so that the income needs of the family are met in the unfortunate death of the policyholder.

By Definition Life insurance is meant to protect the policyholder's family against loss of income in case the policyholder meets a mishap or deceases due to some reason.

It is imperative to have a life insurance policy with an adequate sum insured so that it can replace the lost income and function as a financial buffer for the policyholder's family in the event of his / her demise.

Under life insurance policy, in case the policyholder suffers from the critical illness or severe disability then under the specified sections of Income Tax Act, the 10 % 0f the limit is increased to 15 % if the policy is issued after 01.04.2013.

The government does not tax a life insurance payout because the policyholder had already paid the premiums with taxable income.

1Withdrawals from life insurance policies may be subject to fees, penalties, and income taxes depending on the specific life insurance policy and the policyholder's tax situation.

Beneficiaries can then use the money for whatever they want, but many people will use a life insurance benefit to meet their financial obligations after the loss of the policyholder's income.

Unlike health insurance premiums, which policyholders may deduct from their federal income taxes, life insurance premiums are classified as a personal expense by the IRS.

A feature added to some life insurance policies providing for waiver of premium, or payment of monthly income, or other benefits if the policyholder becomes totally and permanently disabled, as provided in the policy.

If the single pay life insurance policy is surrendered within two years since inception, the tax deduction allowed in the past under Section 80C will be considered as income of the policyholder in the year of surrender and applicable tax will be levied.

In most term insurance sales claims result about 1 % of the time thus policyholders end up with a fistful of receipts Most insureds should own some whole life insurance to make sure their is an income tax free death benefit paid at death It is my belief that most insureds should own at least $ 100,000 of Whole life in addition to a large amount of term to cancel out temporary insurance needs.

Exide Life Guaranteed Income Insurance Plan bonus is an additional or extra sum given to a policyholder.

Exide Life Secured Income Insurance Plus bonus is an additional or extra sum given to a policyholder.