Sentences with phrase «increasing amount of death benefit»

Increasing term life insurance is a term policy that maintains the same premium throughout the term, but that has an increasing amount of death benefit.

After your initial payment, you have the option of reducing or increasing the amount of your death benefit.

With universal policies (universal life and variable universal life) you can reduce or increase the amount of the death benefit and vary the amount or timing of premium payments, subject to certain limitations.

Enhanced Beneficiary Benefit Rider (EBB) This optional rider can increase the amount of the death benefit your beneficiaries receive, depending on the performance of the policy.

This can increase the amount of death benefit coverage that is paid out to the beneficiary, provided that the insured dies as a result of injuries that were sustained in a covered accident.

The policy can be even further customized by adding riders such as the estate protection rider — which increases the amount of the death benefit by up to 100 percent should both of the insured individuals pass away before the fourth anniversary of the policy — and / or the guaranteed policy split rider — which allows the policy to be split into two individual policies should the insured individuals divorce each other, or if the tax laws change.

Once the money invested increases the amount of the death benefit, the tax - free cash value can then be borrowed against.

This is term life insurance that allows you to periodically increase the amount of the death benefit of the policy.

Not exact matches

Use of the accelerated death benefit with permanent policies may increase countable assets if the amount advanced exceeds the cash surrender value.

So, if your financial situation changes over time and you want a greater amount of coverage, you would be able to increase your policy's death benefit without demonstrating your insurability.

Optional death benefits are available for an additional fee and offer the potential to increase the amount of money you provide when the time comes.

Benefits increase 5X in case of accidental death If you die as the result of an accident (as defined in your policy) before age 85, your beneficiary will be eligible to receive five times your coverage amount.

A PerspectiveSM variable annuity includes a standard death benefit and the option to choose one of our enhanced benefits that for an additonal fee offers the potential to increase the amount of money you provide when the time comes.

Section 279D of the ITAA 1936 allowed a deduction to a superannuation fund which paid a death benefit to a dependant of the deceased member where the fund increased the benefit to the amount that would have been paid had there been no tax on contributions.

Compared to a policy that provides an increasing death benefit, one that provides a level death benefit will be less expensive (that is, the premiums will be lower for the same amount of initial benefit).

The amount of this death benefit can not decrease, nor can the amount of the premium increase — even in the event that the insured contracts an adverse health condition in the future.

Benefits increase 5X in case of accidental death If you die as the result of an accident (as defined in your policy) before age 85, your beneficiary will be eligible to receive five times your coverage amount.

Moreover, the face amount of death benefit is also flexible and you can increase or decrease it with regard to your current financial opportunities.

Paid - Up Additions Amounts of life insurance purchased either by policy dividends or by additional premium, and added to the original life insurance policy to increase the death benefit and cash values.

The death benefit increases because small amounts of additional insurance are being purchased each year.

With whole life insurance, the premium amount will never increase, and the amount of the death benefit will not decrease — even as the insured gets older (and even if he or she contracts an adverse health issue).

You may purchase Additional PIP coverage, to raise the overall limit of No - Fault benefits available in case of an accident up to $ 100,000 or higher and, in the process, increase the potential maximum amounts of lost earnings payments, other necessary expenses or the death benefit, depending on the limit you select.

Accidental death benefit rider — This rider will increase the death benefit amount if the death is the result of an accident.

The policy is called «graded» because the death benefit is graded — it increases a bit for the first few years of the policy until it reaches the amount you buy — for example if you buy a $ 100,000 graded policy, the $ 100,000 won't be fully in effect until after 3 years (or two years depending on the company).

But they start with appreciably lower amounts than with Level Term or Increasing Term policies because the death benefit in the event of the insured's death is decreasing all the time.

As neither the cash value nor the death benefit is predetermined or guaranteed, the policyholder bears the risk of a poor fund performance which results in the decreased amount of the death benefit and the cash value and the increased premiums the insured has to pay to keep the policy in effect.

Because it is whole life, premiums never increase, but your initial monthly cost will be substantially higher than the term counterpart of the same death benefit amount.

Death benefit amounts of whole life policies can also be increased through accumulation and / or reinvestment of policy dividends, though these dividends are not guaranteed and may be higher or lower than earnings at existing interest rates over time.

b. Level death benefit, indexed: This option features yearly increase in the amount of death benefit as predetermined by percentage rule.

People who have a serious health problem may receive a policy with a «graded death benefit,» which means the coverage amount increases over time and your beneficiaries won't receive the full face value if you die within the first few years of the policy.

However, the policy does not provide any returns beyond the death benefit (the amount of insurance purchased); the policy has no additional cash value, unlike permanent life insurance policies, which have a savings component, increasing the value of the policy and its eventual payout.

d. Level death benefit with cumulative gross premiums: The amount received is increased as the amount of the gross deposit added to the policy increases.

Graded Death Benefit Life Insurance is a type of life insurance policy that provides a limited amount of life insurance to begin with, and over time the amount of life insurance coverage will increase, either gradually before leveling off, or sharply before it becomes level.

After a certain amount of time, stipulated in the policy, the accumulated cash can be used for loans or other purposes while you are living, or can be an increased death benefit to your beneficiaries.

These are: • Death benefits deemed on not to increase • The maturity date payable • Death benefits that should be provided right after the maturity date is being determined • The sum amount of the total endowment benefit which includes the cash value surrendered within the maturity date that should not the very least exceed the amount payable as death benefit within the span of the contDeath benefits deemed on not to increase • The maturity date payable • Death benefits that should be provided right after the maturity date is being determined • The sum amount of the total endowment benefit which includes the cash value surrendered within the maturity date that should not the very least exceed the amount payable as death benefit within the span of the contDeath benefits that should be provided right after the maturity date is being determined • The sum amount of the total endowment benefit which includes the cash value surrendered within the maturity date that should not the very least exceed the amount payable as death benefit within the span of the contdeath benefit within the span of the contract.

This type of coverage is guaranteed in terms of the death benefit amount, regardless of the insured's increasing age, and whether or not the insured contracts a health issue — and, the cash value will grow at a set interest rate that is set by the insurance company.

During the time that is chosen, the death benefit on the policy remains level, and the amount of the premium will not increase.

Whole life insurance provides a set amount of death benefit protection, as well as a premium that will not increase over time — even as the insured ages, or if they contract an adverse health issue.

Determining amounts to be received by multiple beneficiaries should be done as a percentage of the amount to be dispensed at the time of expiry since the death benefit of permanent policies may change as their cash values increase or decrease over time.

Typically, once an insured has been approved for coverage, the amount of the death benefit protection is locked in, as is the premium amount — which means that the premium that is charged will not go up, even as the insured's age increases, and if he or she contracts an adverse health condition.

Similarly, our comparison of premiums vs death benefits and rate classes also highlights just how important your health is when comparing life insurance quotes, especially as the policy amount increases.

Life stage protection: The option allows you to increase the basic sum assured at specified events of marriage and childbirth, without any medical tests: Marriage: The life insured can increase the death benefit by 50 % of the original death benefit, subject to a maximum additional amount of Rs. 50 lakhs 1st childbirth: The life insured can increase the death benefit by 25 % of the original death benefit, subject to a maximum additional amount of Rs. 25 lakhs 2nd childbirth: The life insured can increase the death benefit by 25 % of the original death benefit, subject to a maximum additional amount of Rs. 25 lakhs

As its name implies, an increasing term life insurance policy is one in which the amount of the death benefit will increase over time.

The face amount, and thereby the death benefit, can change for a number of reasons but it is much more difficult to increase a death benefit substantially than to decrease it in most circumstances.

With variable life insurance, the death benefit may increase or decrease — however, it will not go below the guaranteed minimum amount — which is typically the original amount of death benefit that is purchased.

Other features include the ability to increase or decrease the death benefit as the insured's needs change; the ability to change the amount and / or the timing of the premium payment; and the ability to choose which investment options may be able to help the policy holder to meet best his or her retirement income needs the best.

These reasons for a change in the face amount can include additional paid up insurance bought with dividends, a face reduction for the purpose of saving money on insurance costs, and having an increasing death benefit based on cash value.

Split dollar insurance: An arrangement between two people (often an employer and an employee) where life insurance is written on the life of one who also names the beneficiary of the net death benefits (death benefits less cash value), and the other is assigned the cash value (or equivalent amount of death benefits), with both sharing the premium payments (usually the noninsured paying a portion equal to the increase in cash value each year and the insured paying the balance of the annual premium).

So your policy death benefit can grow over time, increasing the amount of chronic illness income benefit you would have access to later in life.

You should probably fiddle abound with the coverage amount, checking out how each plan varies by increasing your death benefit by increments of $ 1,000.