Sentences with phrase «lump sum death benefits as»

The nominee has the option at the time of claim settlement to take lump sum Death Benefits as the discounted value of outstanding instalments.

Apply these proportions to work out the tax - free and taxable component of Tim's lump sum death benefit as follows:

In the event of death of the life insured during the policy term, lump sum death benefit as Guaranteed Death Sum Assured (GDSA) is payable to the nominee.

Not exact matches

The tax treatment of both super and death benefits is also affected by whether the benefits are paid as a lump sum or income stream (regular payments).

Aside from the obvious value of receiving a large amount of cash as a lump sum, there are some risks with choosing an annuity to receive the death benefit.

For these reasons, it makes sense for the beneficiary to claim the death benefit as soon as possible as a lump sum.

Lump sum plus Monthly Income: Half of the death benefit will be paid out as lump sum for immediate needs, and the remaining half in form of monthly income increasing annually by 10 % at simple rate for a period of 15 yeLump sum plus Monthly Income: Half of the death benefit will be paid out as lump sum for immediate needs, and the remaining half in form of monthly income increasing annually by 10 % at simple rate for a period of 15 yelump sum for immediate needs, and the remaining half in form of monthly income increasing annually by 10 % at simple rate for a period of 15 years.

Lump sum: The entire death benefit will be paid out as a lump sum amount to secure your family's financial futLump sum: The entire death benefit will be paid out as a lump sum amount to secure your family's financial futlump sum amount to secure your family's financial future.

In case of occurrence of any of listed Critical illness, the Benefit (as chosen during inception) will be payable to you as a lump sum amount, irrespective of the death benefit payout option chosen, subject to policy being in force and all due premiums have beeBenefit (as chosen during inception) will be payable to you as a lump sum amount, irrespective of the death benefit payout option chosen, subject to policy being in force and all due premiums have beebenefit payout option chosen, subject to policy being in force and all due premiums have been paid.

With a family income policy, rather than a lump sum of money, the death benefit is paid out in monthly increments as a portion of the total death benefit.

This is in contrast to the typical death benefit, which is given out as a lump sum.

The likely reason for this is life insurance is viewed as using cash to purchase a death benefit, whereas an annuity is all about converting a lump sum into an income stream.

If you're not a dependant of the deceased, the death benefit must be paid as a lump sum.

If you're a dependant of the deceased, the death benefit can be paid as either a lump sum or income stream.

If you're a dependant of the deceased, you don't need to pay tax on the taxable component of a death benefit if you receive it as a lump sum.

You can receive a lump sum payment from your death benefit, on a discounted basis, if you are diagnosed with a specific critical injury, such as a coma, severe brain injury, severe burns and paralysis.

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.

(o) If there is no person who would be entitled, upon application therefor, to an annuity under section 2 of the Railroad Retirement Act of 1974 [98], or to a lump - sum payment under section 6 (b) of such Act, with respect to the death of an employee (as defined in such Act), then, notwithstanding section 210 (a)(9)[99] of this Act, compensation (as defined in such Railroad Retirement Act, but excluding compensation attributable as having been paid during any month on account of military service creditable under section 3 of such Act if wages are deemed to have been paid to such employee during such month under subsection (a) or (e) of section 217 of this Act) of such employee shall constitute remuneration for employment for purposes of determining (A) entitlement to and the amount of any lump — sum death payment under this title on the basis of such employee's wages and self — employment income and (B) entitlement to and the amount of any monthly benefit under this title, for the month in which such employee died or for any month thereafter, on the basis of such wages and self — employment income.

In exchange for premium payments, a life insurance policy provides a tax - advantaged lump - sum payment, known as a death benefit, to the beneficiaries when the insured passes away.

A Single Premium policy is the one in which the premium amount is paid in lump sum at the beginning of the policy as a return for the death benefit which is guaranteed to be paid up until the death of the policyholder.

As an asset based policy, it provides cash indemnity for long - term care services and a lump sum life insurance death benefit.

As long as you are within the IRS per diem limit you can receive 2 % or 4 % of the death benefit either monthly or through an annual lump sum paymenAs long as you are within the IRS per diem limit you can receive 2 % or 4 % of the death benefit either monthly or through an annual lump sum paymenas you are within the IRS per diem limit you can receive 2 % or 4 % of the death benefit either monthly or through an annual lump sum payment.

The beneficiary can elect to annuitize the death benefit over his / her life expectancy instead of taking it as a lump sum.

Most often, the life insurance proceeds from the death benefit are paid out as a single lump sum.

Instead of taking the Death Benefit of a life insurance policy all at once as a lump sum, it's also possible to receive the policy's payout in regular installments.

If your beneficiaries elect to receive the death benefit as installments rather than a lump sum, some of that will be taxed.

If a member has a terminal medical condition and two medical professionals certify that the condition is likely to result in the member's death in the next 24 months, the balance of their super account may be paid as a tax - free lump sum benefit.

Non-dependent beneficiaries will only be able to receive super death benefits as a lump sum.

If your beneficiary is a spouse or dependant they may choose to receive your death benefit payment as a pension or a lump sum.

The beneficiary can elect to annuitize the death benefit over his / her life expectancy instead of taking it as a lump sum in some instances.

Following R's death, D, his widow, filed an application for the lump - sum death benefit payable on his earnings record, as well as for a widow's insurance benefit to which she was also entitled on his earnings record.

A pro rata deduction is available when only part of the death benefit is paid to an eligible dependant or only part is paid as a lump sum.

The payment is only payable where the death benefit is being paid as a lump sum to an eligible dependant of the deceased member, who is either a:

The death benefit can be paid out as a lump sum, a monthly payment, or an annuity, although most people ask the insurance company for the lump sum.

A premium is paid monthly to keep the policy active, covered in full or in part by the employer, and upon the death of the employee a lump sum of money, the death benefit, is paid out to a designated group or person known as the beneficiary.

However, the new fund must commence a death benefit income stream or pay the amount out of super as a lump sum (or a combination of these).

If you only have a death benefit income stream, you can reduce any excess by removing («commuting») it from the death benefit income stream as a lump sum.

If the total value of your retirement phase interests exceeds the transfer balance cap and you only have a death benefit income stream, you can commute the excess as a lump sum.

Alternatively, Sasha could partially commute the reversionary death benefit income stream, but she would have to pay the commuted amount as a lump sum out of the super system.

A life insurance death benefit is most often doled out as one lump sum of money.

Life insurance policy is a contract between the insurers or insurance provider wherein a lump sum amount is promised as a death benefit to the beneficiary in the event of the policyholder

This is an important extra cost to be mindful of, and an argument for taking the death benefit as a lump sum.

Life insurance policy is a contract between the insurers or insurance provider wherein a lump sum amount is promised as a death benefit to the beneficiary in the event of the policyholder's death, provided the policy was active and the premiums were paid till the insured's death.

If your loved one was fatally injured at work, you may also be able to recover permanent total disability as death benefits for a period of time or in a lump sum amount.

The husband signed «Expression of Wish (Nomination of Beneficiaries) Form, saying that «the trustees / scheme administrator has absolute discretion as to which of my beneficiaries receive the lump sum death benefit, I would like this to be paid to the following», where the widow is named with 100 % percent.

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.

Accelerated death benefits are paid as a lump sum.

The death benefit is paid as a lump sum income tax free.

In the majority of cases, a named beneficiary will receive the death benefits as a lump sum payment and these proceeds are not subject to income tax.

In exchange for paying premiums on a policy, the insurance company provides a lump - sum payment (far in excess of what you paid in), known as a death benefit, to beneficiaries upon the insured's death.