Sentences with phrase «keep life insurance beneficiaries»

Steven A. Loeb, a lawyer, offers advice on how to keep life insurance beneficiaries out of probate court.

Finally, it's critical to keep your life insurance beneficiaries updated whenever there's a big life event such as when you get married, experience a divorce, or when a new child or grandchild joins the family.

Not exact matches

A life insurance policy is cover that a person takes out, keeps up with the monthly premiums and in turn the insurer undertakes to pay their dependents / beneficiaries out upon their death.

Always keep your beneficiary information current on all your life insurance policies.

A Cost of Living Adjustment (COLA) rider is designed to help the beneficiary's disability insurance benefits keep pace with inflation.

Choosing beneficiaries, and keeping those choices up - to - date, is an important part of owning life insurance.

You may keep property received on this date or later as result of inheritance, bequest, devise, property settlements involving divorce, or beneficiary on life insurance.

Unlike a term life insurance policy, a permanent life insurance policy lets you rest assured that your beneficiaries will receive funds — regardless of when you die — as long as your premiums are kept up.

Generally speaking, this is initially the most affordable life insurance you can buy that offers a lump sum death benefit paid to your beneficiary so long as you keep paying premiums and you pass away within the term.

For instance, a life insurance policyholder may be able to access some of the cash value to meet their immediate needs while keeping the policy in force for beneficiaries.

When you file the life insurance claim, keep in mind that each beneficiary must fill out the proper forms.

Keep in mind that when purchasing life insurance for someone else or naming them as your beneficiary, you may need to get personal information such as name, date of birth, social security number and health information.

The commission compensates the agent or broker for the time spent advising you on how much and what type of life insurance to buy, for facilitating the application process, and for any further service that's needed in future years to keep the policy up - to - date (such as changing beneficiary designations, arranging policy loans or coordinating your financial plans with your lawyer and accountant).

As you search for a lost policy, keep in mind that if it was a term life insurance policy, then you as the beneficiary collect the benefit only if the insured person died within the term.

In naming a beneficiary, keep in mind that the life insurance company will want to see only the names of those who are financially dependent upon you.

Life insurance is one of the most important risk protection tools, especially during uncertain times and failure to keep this contract in force has an adverse impact on the beneficiaries and dependents of the policyholders.

Though I focus on representing New York and New Jersey life insurance beneficiaries in bad faith denial claims, I try to keep abreast about other evolving issues in life insurance.

If your spouse owns your life insurance policy, it keeps your policy excluded from your estate and ensures your policy will not be taxed before passing the death benefits to your beneficiaries.

Choosing beneficiaries, and keeping those choices up - to - date, is an important part of owning life insurance.

Keep in mind: Your premium (amount you pay in exchange for life insurance) payments and death benefit (amount paid to your beneficiaries should you die during the term length) will remain level.

Keep in mind that certain states require your spouse's permission to name someone else as your life insurance beneficiary, says LexisNexis.

The policyholder is responsible for paying the premiums to keep the life insurance policy in force — even if the beneficiary is someone else.

Since those who have a whole life insurance policy will never need to re-qualify for their coverage (provided that they keep their coverage in force by paying the premium), then they can always count on having a set amount of death benefit available to their beneficiary.

Choosing a beneficiary, and keeping that choice up - to - date, are important parts of purchasing a life insurance policy.

If you need life insurance, we know they have good financial ratings which will keep you secure in the knowledge your beneficiary will receive the death benefit no matter what happens.

Whole life insurance protects your beneficiaries in your absence and acts as an asset - accumulating tool, while universal life insurance gives you the chance to regulate your insurance coverage in keeping with your current condition.

Since estate probate can take months and creditors can come after the life insurance death benefit, we recommend naming beneficiaries and keeping the list regularly updated.

Name all your beneficiaries explicitly, keep your list of beneficiaries updated, and provide each of those people with a copy of your life insurance policy.

They had life insurance on each other, but the primary goal of his insurance with her as beneficiary was so she could take care of his grandfather, keeping him in his own home, a plan that none of the rest of the family wanted to participate in.

Keep in mind that changing the beneficiary of a final expense policy is more complicated than for other types of life insurance, because the policy pays out to the company which will handle your final needs.

If you expect to receive alimony and child support from your spouse, you may want to require (in the separation agreement) that your spouse buy a life insurance policy (or keep the existing one in force), naming you as the beneficiary.

In that case, one partner would need to keep their ex-spouse as the beneficiary on their life insurance policy to guarantee that the debt is repaid.