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 benefic
Death benefit is
paid in event of
death of the life insured by the company to the benefic
death 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.&r
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.
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.&r
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, 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.&r
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.»
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.