Sentences with phrase «life insurance death benefit pay»

Parents will often request to have their life insurance death benefit paid in installments if their beneficiary is a young child or someone dependent on their income.

Life insurance death benefits paid out of qualified plans also retain their tax - free status, and this insurance can be used to pay the taxes on the plan proceeds that must be distributed when the participant dies.

Parents will often request to have their life insurance death benefit paid in installments if their beneficiary is a young child or someone dependent on their income.

If the life insurance death benefit paid to you is not greater than the amount of the life insurance death benefit payable at death then it is not taxable and you should not include it on your tax return.

Not exact matches

One advantage C corporations have over unincorporated businesses and S corporations is that they may deduct fringe benefits (such as group term life insurance, health and disability insurance, death benefits payments to $ 5,000, and employee medical expenses not paid by insurance) from their taxes as a business expense.

These insurance policies are less pricey than traditional life insurance, since they pay benefits only after the death of both husband and wife.

Like all Googlers, our named executive officers are eligible to participate in various employee benefit plans, such as medical, dental, and vision care plans, flexible spending accounts for health and dependent care, life, accidental death and dismemberment, disability, and travel insurance, survivor income benefit, employee assistance programs (e.g., confidential counseling), and paid time off.

Like all employees, our named executive officers are eligible to participate in various employee benefit plans, including medical, dental, and vision care plans, flexible spending accounts for health and dependent care, life, accidental death and dismemberment, disability, and travel insurance, survivor income benefit, employee assistance programs (e.g., confidential counseling), and paid time off.

The downside to paid - up whole life insurance policies is that each premium payment is also deducted from the policy's death benefit.

Buying paid - up additions is similar to buying a small single - premium life insurance policy as you increase the policy's cash value and death benefit but don't have ongoing payments.

Permanent insurance, which includes whole life and universal insurance policies, is for life: It provides a death benefit for as long as you pay the premium, but also may include cash value that can be accessed during the insured person's lifetime.1

Because your life insurance premiums are paid with after tax dollars, the death benefit is able to be paid out in lump sum without any state or federal taxes being withheld.

Unlike term life insurance, mortgage life insurance typically pays the death benefit directly to your mortgage lender.

With a guaranteed issue life insurance policy, if you die because of an accident (e.g. a car crash) within the first two years, the full death benefit will be paid to your beneficiaries.

Whole life insurance pays out the death benefit at any time death occurs, after all, the whole life is covered.

The transfer for value rule essentially says that, when you pass away, the third party would have to pay taxes on the life insurance death benefit.

There are a lot of costs that go into insuring someone including administrative costs, the medical exam and testing costs, and potentially having to pay out a large death benefit, so life insurance companies weigh all the risks for those who apply for coverage.

When you purchase term life insurance, you agree to pay recurring premiums in return for the commitment by the insurance company to pay a death benefit if the insured happens to die during the term that the insurance policy is in effect.

Term life insurance is affordable because it does not accrue a cash value and only pays the death benefit.

If you have a life insurance policy, and you've been keeping up with your premiums, your insurer will pay out a death benefit when you die.

The last reason an insurance company might not pay out the death benefit is if you commit suicide within the first two years of taking out the life insurance policy.

However, the death benefit and cash value can continue to grow with participating policies since the dividend can be applied to purchase additional paid - up life insurance coverage.

To illustrate, understand that very few «term life policies» ever pay a death benefit because the insurance company has determined that the policy will likely expire before the death benefit is ever paid... and most do.

The downside to paid - up whole life insurance policies is that each premium payment is also deducted from the policy's death benefit.

As an added benefit, the life insurance death benefit of the new hybrid policy would pay off her mortgage if she passed away, assuming she didn't use the policy for long - term care.

On the other hand, as long as premiums are paid, a permanent life insurance policy will always pay out a death benefit since it never expires.

All contract guarantees, including optional living and death benefit riders and annuity payout rates, are backed by the claims - paying ability and financial strength of issuing insurance company.

Buying paid - up additions is similar to buying a small single - premium life insurance policy as you increase the policy's cash value and death benefit but don't have ongoing payments.

If the insured dies within this term (10, 15, 20, 25, 30, or 35 years), the life insurance company pays a lump sum death benefit to the policy's beneficiaries.

A return of premium life insurance policy is one where, minus very negligible fees, your premium payments are refunded to you at the end of the term (assuming the death benefit hasn't been paid out, of course).

Unlike term life insurance, mortgage life insurance typically pays the death benefit directly to your mortgage lender.

The death benefit for both term and permanent life insurance is paid to your beneficiaries free of income tax.

Accidental death insurance is a legitimate product that is similar to term life insurance, but only pays a death benefit if you pass away due to an accident.

Life insurance policies have a variety of tax benefits, such as the death benefit paid to beneficiaries being free of income tax.

Since the insurer is guaranteed to pay a death benefit to your beneficiaries so long as all premiums are paid, permanent life insurance rates are significantly higher than those for term life insurance.

«Direct term life insurance» simply refers to a term life insurance policy in which the party upon whose death the benefit would be paid out is the same party paying for the policy.

Universal life insurance pays out a tax - free lump sum to your beneficiaries when you die, called a «death benefit.»

Like term life insurance, whole life insurance policies pay a death benefit if you die while your policy is in force.

Term life insurance is a type of life insurance that only pays out a death benefit if the policyholder dies within the term of the policy.

If you're very healthy, and there's little risk that the life insurance company will have to pay the death benefit, you'll get more affordable rates.

Term life insurance covers you for a fixed number of years, such as 1, 5, 10, 20, or 30 and pays a death benefit if you pass away during the covered time period.

Or you may wish to lock in a steady rate with a permanent life insurance policy, which accrues cash value, and pays a guaranteed death benefit, even if you live to be 100 years old.

Take life insurance as an example: you pay for a policy, and if you die during the term then that money (the death benefit) goes to the person you named as your beneficiary on the policy.

Term life insurance pays a death benefit to the policy beneficiary if the policyholder dies within the term of the policy.

Term life insurance policies are temporary and only pay out a death benefit to the beneficiary if the policyholder dies within the term of the policy.

With most term life insurance policies, the death benefit — the portion of money that's paid out to beneficiaries — works the same way.

A) Both policyowners would need to pay extremely high premiums to make up for the money the life insurance company would lose in death benefit payouts, or B) the life insurance company would go bankrupt with both policyowners paying such low premiums and then no families would receive death benefits.

An ILIT or Irrevocable Life Insurance Trust by definition is an irrevocable trust that is set up to hold life insurance and pay a death benefit to children and / or grandchildLife Insurance Trust by definition is an irrevocable trust that is set up to hold life insurance and pay a death benefit to children and / or grandInsurance Trust by definition is an irrevocable trust that is set up to hold life insurance and pay a death benefit to children and / or grandchildlife insurance and pay a death benefit to children and / or grandinsurance and pay a death benefit to children and / or grandchildren.

The main difference between term life and permanent insurance is that term insurance only pays death benefits to your beneficiaries, while permanent life insurance pays out death benefits and accumulates cash value which will continue to build up over the life of the policy.

Life insurance companies pay a death benefit (sometimes in the millions) to the beneficiaries of an insured if they die.