Sentences with phrase «insurance beneficiaries still»

The majority of term life insurance beneficiaries still opt to receive benefits either in a single payment or as a permanent annuity.

Not exact matches

Although the contingent beneficiary is named in the life insurance policy, he or she won't receive a portion of the death benefit if any of the primary beneficiaries are still alive.

Nobody likes the grim idea of death, but having life insurance ensures that your beneficiary, be it your parents, children and / or spouse, can still finance their lives even after your passing.

Living Benefits Though the life insurance policies provide you with death benefits for your beneficiaries, you still need to reconsider on the uncertain expenses that crop with age.

Maintaining life insurance policy ownership also means you have the responsibility to occasionally review the policy to ensure it is up - to - date and still structured to be of most benefit to you and the beneficiaries.

With a term life insurance policy, your named beneficiaries receive a payment if your policy is still in force when you die.

Several of the life insurance riders described above can provide you or your beneficiaries with extra coverage so that the student loan can still be paid if you die unexpectedly, or if you become critically ill or disabled and can no longer earn an income.

Most life insurance riders can offer you or your beneficiaries additional coverage so that the student loan will still be repaid if you were to pass away unexpectedly, if you get disabled, or become critically ill and aren't able to bring home a paycheck.

Thus, a whole life insurance policy leverages a portion of your financial resources for the sole purposes of providing a legacy to your beneficiaries, while still maintaining control of your assets.

Permanent life insurance still enjoys the tax - free death benefit for designated beneficiaries.»

While burial insurance may be purchased for the purpose of paying for funeral costs, the proceeds can still be used for paying any expenses that the beneficiary sees fit.

Also, if pass away, your beneficiaries are still paid the policy's face value — just like a standard term life insurance policy — but with the ROP rider your have paid higher premiums for the same death benefit.

Maintaining life insurance policy ownership also means you have the responsibility to occasionally review the policy to ensure it is up - to - date and still structured to be of most benefit to you and the beneficiaries.

When you mention I durable interest — any beneficiary would benefit — that's what insurance is for — but I wouldn't want to pay her premiums and her husband then be able to get the insurance payout and then I'd still be the family member who would pay for the burial expenses.

Although the contingent beneficiary is named in the life insurance policy, he or she won't receive a portion of the death benefit if any of the primary beneficiaries are still alive.

You would be surprised at how often someone with life insurance dies and ends up leaving their spouse with nothing because their ex-spouse is still listed as their primary beneficiary.

For instance, if a married couple purchased life insurance on each other and at a later date they divorced, they would still continue to serve as each other's beneficiary if one were to die, and would still be eligible to collect the contract's death benefit.

Life insurance is typically pretty straightforward: you pay for a policy, and if you die while that policy is still in force, the death benefit goes to your named beneficiary.

Life insurance payouts rarely go through the probate process, and if our beneficiaries are already taken care of and covered, mentioning it in your will isn't really necessary, yet still optional.

If at 85 you bought a life insurance policy and died at 94, years removed from the first 2 years of policy activation, your beneficiaries will still have to wait a year probationary period before being paid death benefit.

A term insurance policy will require a medical exam, but your family will be listed as the beneficiary of the policy, and they can use the money to pay off a mortgage debt, but still have control over any excess without having to worry about the bank as a middleman.

By purchasing life insurance, you gain the assurance that your insurer will pay a death benefit to your named beneficiaries upon your death (as long as your policy is still in force at that time).

If you have more than one life insurance policy, cashing in one of them would still provide your beneficiaries with coverage.

With a term life insurance policy, your named beneficiaries receive a payment if your policy is still in force when you die.

In passing that Act, Congress declared that employers with 20 or more full time employees (or equivalent) who also provide their employees with health insurance must continue to provide the insurance at the group rate to an employee or their spouse or dependents (all are «qualified beneficiaries») when one of six «qualifying events» occurs (termination of employment, reduction in hours [disqualifying from insurance eligibility], death of the employee, separation / divorce of employee and spouse, dependent child who loses dependency through age (19 or 23 is still a student) or marriage (becomes someone else's problem).

However, there are additional considerations if you plan to name a child or grandchild as a Beneficiary, and if the child is still a minor (younger than age 18) at the time that Gerber Life receives the insurance claim.

And if you do purchase a guaranteed life insurance policy but die before the initial two years, your beneficiaries will still get more money from the policy than had the same money just been sitting in a savings account.

The death benefit for this policy is still tax - free that is paid out by the life insurance company when you pass away and your beneficiaries will still receive it with this policy.

Whatever you use reduces the balance in your life insurance plan, but if there is something leftover when you pass, that amount is still paid to your named beneficiary,» Roger says.

It is important to note here, though, that even though a life insurance policy loan is not required to be repaid, if the insured dies while there is still a balance outstanding, the amount of this balance — plus interest — will be subtracted from the total amount of death benefit proceeds that are paid out to the beneficiary.

This is why it's so important for policy owners to regularly review their life insurance decisions to make sure the named beneficiaries still are the people who should collect the money — especially if you've experienced major life changes.

During this time, life insurance companies must still pay the death benefit to your beneficiaries should you pass away.

Endowment Insurance Endowment insurance provides for the payment of the face amount to your beneficiary if death occurs within a specific period of time such as twenty years; or, if at the end of the specific period you are still alive, for the payment of the face amounInsurance Endowment insurance provides for the payment of the face amount to your beneficiary if death occurs within a specific period of time such as twenty years; or, if at the end of the specific period you are still alive, for the payment of the face amouninsurance provides for the payment of the face amount to your beneficiary if death occurs within a specific period of time such as twenty years; or, if at the end of the specific period you are still alive, for the payment of the face amount to you.

Even if paid by a modified endowment contract, a death benefit can still be passed on to beneficiaries tax free, assuming that the normal requirements for a tax free death benefit under life insurance rules are met.

Therefore, you can still be insured by your term life insurance policy, and your beneficiaries remain the same, even after you transfer ownership of the policy.

You can borrow from this cash value of your insurance policy tax - free while you're still alive and once you have died, your beneficiary will receive the death benefit minus the amount you borrowed (if you didn't pay it back while you were alive).

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.

and are increasing in popularity because if these riders go unused, there is no loss of premium - the premiums are returned if the policyholder passes away before a specific age, and the beneficiaries are still entitled to receive the life insurance policy's face value in the event of the policyholder's death.

An endowment policy is defined as a type of life insurance that is payable to the insured if he / she is still living on the policy's maturity date, or to a beneficiary otherwise.

Although I still do not feel it right to deprive beneficiaries of their life insurance proceeds so that an insured can get his or her hands on the proceeds of policies during their lifetime through settlements with investors, after much study and deep thought I can only conclude that there are situations where this is, not only justified, but is absolutely necessary.

For life insurance it is extremely important to check into the financial stability of the insurer, as you hope the company will not have to pay out for a long time, but if it does you and your beneficiaries will want it to be still in business and stable enough to pay out the claim.

This is an important difference between mortgage insurance and mortgage life insurance because your beneficiaries can still decide what to do with the cash and are not required to pay off the mortgage.

So, as you can see, if none of the people you named as beneficiaries are still alive when it's time to collect the life insurance payout, the death benefit just gets passed down from estate to estate.

All insurance riders offered within variable contracts and policies fall into one of two categories; living benefit riders generally guarantee some sort of defined payout while the insured or annuitant is still alive, while death benefit riders protect against declines in contract values due to market conditions for beneficiaries.

Like other forms of life insurance, variable life policies are designed to provide your beneficiaries (family, friends or even an organization) with a death benefit if you die while your policy is still in effect.

Death benefit, also known as «survivor benefit», is the money your beneficiary or survivor collects from your life insurance policy if at the event of your death the policy you are still under the insurance policy.

If you have a $ 200,000 level term life insurance policy, and you die 10 years later with the balance of $ 140,000 still outstanding on the loan, the mortgage will be fully paid, and the remaining $ 60,000 will be paid directly to your beneficiaries.

If the beneficiary of a policy has died, the estate of the beneficiary can still collect the insurance payment, assuming that the beneficiary does have an heir or heirs of some kind (as most people do).

One of the still remaining, best aspects of Life insurance, (theinvestment aspect of which has been generally agreed to be poor atbest) is that the insurance industry has gotten congress to retain thatpayouts of life insurance to a beneficiary are NOT TAXABLE..

Should you still have any additional questions regarding how life insurance works, how a beneficiary can be paid, and / or the insurance carrier that may be right for you, please feel free to contact us directly.