Sentences with phrase «life pays a death benefit to any beneficiaries»

Term life pays a death benefit to any beneficiaries you choose, such as your spouse, if you die within the policy's term.

Not exact matches

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.

Protection for your group members — Death benefit is paid in event of death of the life insured by the company to the beneficDeath benefit is paid in event of death of the life insured by the company to the beneficdeath of the life insured by the company to the beneficiary.

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.

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

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.

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

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.

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.

A whole life policy pays a guaranteed lump sum death benefit to your beneficiary.

Besides paying a income tax free death benefit to your beneficiary, life insurance provides several benefits to you, the owner and insured.

Basically, the death benefit is how much the life insurance policy pays to your beneficiary, untaxed and in a single lump sum, should you die.

The life insurance death benefit is paid to your beneficiaries income tax free.

With a life insurance policy, if the insured person dies, the life insurance company will pay out a death benefit to the beneficiaries.

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.

That $ 42,000 could be used to pay the premiums on a life insurance policy, on the trustmaker's life, with the death benefit to pass to the 3 beneficiaries.

Cash value life insurance refers to a type of life insurance that, in addition to paying out a death benefit to your beneficiary or beneficiaries upon your death, accumulates cash value inside the policy while you are alive, that you can use for whatever you please.

It is so basic it should probably be called «death insurance» rather than life insurance, since your primary benefit is that it will pay out a death benefit to your beneficiary.

Whole life insurance will pay out a set amount of money to your beneficiaries when you die, called a «death benefit.»

The Legalese «The Acceleration of Death Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rDeath Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rdeath benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rdeath of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.»

Term life insurance is defined as a contract between the owner of the policy and the insurer, for a policy on the life of the insured, whereupon the insured's death, the insurer pays a lump sum death benefit to the beneficiary.

In the event of the insured's death, a life insurance death benefit will be paid to the named beneficiary on the policy - provided a claim is filed.

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.

The inner - workings of cash value life insurance consists of a life insurance policy, which is a contract between the policy owner, the insured (often the same person), and the insurer, where the insurer agrees to pay a death benefit to the policy's beneficiary, based on the owner continuing to make the policy's premium payments.

Whole life requires the policy owner to pay a fixed monthly premium for the rest of their life, and upon death, the company will payout the face value of the policy (death benefit) to the beneficiary.

The universal life insurance coverage extends to two people and pays the death benefit to the beneficiary upon the death of the second insured.

There are certain instances where this is not the case, but the typical life insurance policy arrangement will have the death benefit paid to the beneficiary tax free.

Variable life insurance pays a lump sum to your beneficiaries when you die, called a «death benefit.»

The life insurance death benefit is paid income tax free to your beneficiary.

Just like we saw with whole life insurance, the death benefit works in exactly the same way in that it will be paid to the beneficiary as long as the insured passes away within the dates of the policy, i.e. the contract.

After all, like life insurance, you pay a premium for it in exchange for a benefit to be paid to your beneficiary at your death.

Back in the day, any form of flying was considered extremely hazardous and most life insurance companies would either force the applicant to pay an exorbitant amount or they would add an aviation exclusion clause to the policy, in other words, if you died as the result of a plane crash, your beneficiaries wouldn't receive the death benefit.

The repayments that you then make to your life insurance policy will usually have a low rate of interest — and, if you do not end up paying back these funds, the amount of the unpaid balance will be deducted from the death benefit that your beneficiary receives.

If you die within that specific period of time, the life insurance carrier pays a death benefit to your beneficiaries.

Universal works just like whole life in that there's a death benefit paid to your beneficiaries and the coverage never ends or needs renewal.

If you have an outstanding loan on your whole life insurance policy when you die, the death benefit that is paid out to your beneficiary (or beneficiaries) will be reduced by the unpaid amount of..

Benefit: For life insurance, it is the amount of money specified in a life insurance contract to be paid to the beneficiary upon the death of the insured.

Life insurance is not taxable regarding the proceeds paid to your beneficiary from the death benefit.

Cash value life insurance is more applicable to wealth building discussions because cash value is typically used during the policy owner's lifetime and is forfeited upon death in lieu of the death benefit being paid to surviving beneficiaries.

For life insurance policies that pay death benefits in the form of a lifetime payout, the portion of the payout that is not subject to tax if the policy has no refund provision or stated time period guarantee which is determined by dividing the amount of the death benefit by the life expectancy of the beneficiary.

If the insured dies early in the policy's life, the death benefit paid to beneficiaries will be much lower than would be the case if option A was chosen.

Therefore, if you don't have a named life insurance beneficiary, or they're deceased, your family may never receive the death benefit you paid to have in place.

For example, by making your spouse the beneficiary, they can decide whether to use the death benefit to pay the mortgage (and continue living in the house) or for a more pressing expense.

Whether you are the sole breadwinner, one half of a joint - income couple, or a stay - at - home - parent, a term life insurance death benefit (the funds that your beneficiaries will receive upon your passing) can do much more than add a temporary boost to family finances and pay for funeral and burial expenses.

You pay a premium for as long as you live, and a benefit will be paid to your beneficiaries upon your death.