Sentences with phrase «larger death benefit to your beneficiaries»
If you have accumulated a sizable cash value over the life of your permanent life insurance policy and do not intend to use these funds yourself, you may choose to leave a larger death benefit to your beneficiaries.
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Additionally, the death benefit of life insurance is not taxed to the trust beneficiary, allowing the beneficiary to receive a large lump sum cash payout.
After paying a lower premium for such a life annuity, the employee would be able to retain a larger portion of his or her account, maximizing the employee's lifetime benefits, while also leaving larger death benefits for a beneficiary, from the remaining amount of the account.
This is because a larger portion of the cost of the contract would be allocable to death benefits if, after the required beginning date and before the annuity starting date, the participant were able to replace a designated beneficiary who has died (or to replace a designated beneficiary who has a short life expectancy with one who has a longer life expectancy).
Basically several states have sued large insurance carriers and AIG, Prudential, Nationwide and several others have agreed to settle claims that they haven't done all they could to locate beneficiaries who haven't claimed life insurance death benefits.
No matter how large your death benefit, it passes to your beneficiaries generally income tax - free.
No matter how large the death benefit, it passes to your beneficiaries generally income tax - free.
Purchasing a life insurance policy with a death benefit large enough to offset the amount of capital gains and estate tax you expect your estate to be subjected to, guarantees your beneficiaries will not be forced to sell your assets or be left with a fraction of your estate.
Life insurance will provide a large one time death benefit paid to beneficiaries, and there are a number of uses for this.
Tax - free death benefit — No matter how large your death benefit, it passes to your beneficiaries generally income tax - free.
This will allow him or her to «accumulate» a larger amount of death benefit for their beneficiary should they pass away within a short period of time.