Sentences with phrase «lump sum payout if»

Critical illness insurance provides you a lump sum payout if you develop cancer, have a heart attack, have a stroke, or have any one of about 2 dozen covered conditions.

Most term life insurance policies have a monthly premium that will not change throughout the term of the policy and a fixed lump sum payout if you die during the term period.

Here's some advice from Bankrate that says to take the lump sum payout if you win the lottery.

Not exact matches

If a lone winner took the lump - sum payout on the jackpot's current amount, it would be an estimated $ 389.8 million.

If you choose to go with a fixed interest rate, you must take out a lump sum, whereas if you choose to go with a variable interest rate, you have the option of receiving payouts as a lump sum, line of credit, monthly payments, or a combination of all threIf you choose to go with a fixed interest rate, you must take out a lump sum, whereas if you choose to go with a variable interest rate, you have the option of receiving payouts as a lump sum, line of credit, monthly payments, or a combination of all threif you choose to go with a variable interest rate, you have the option of receiving payouts as a lump sum, line of credit, monthly payments, or a combination of all three.

If you are the beneficiary of a life insurance policy, you typically have two options for receiving your payout: in a lump sum or in installments.

The changes, which were part of the budget deal signed into law last week, also eliminated the option of getting a lump - sum payout if you suspended an application for benefits and later changed your mind.

If they later changed their minds, they could get a lump - sum payout back to the date of those applications.

One common options is if you own a home with home equity you can obtaining a 2nd mortgage or a home equity loan to payout CRA in one lump sum.

Pension plan members in the private sector need to at least consider the risk of their company being able to fund their pension payments for life if they have the opportunity to commute their pension and otherwise take a lump - sum payout upon leaving the plan.

Or the commuted value if you chose a lump - sum payout upon leaving the pension?

However, If you recently came into a large lump sum — from an inheritance, the sale of a property or business, or a pension payout — things are a little different.

And if you invest the money from your lump sum payout, earnings from those investments will be taxed.

If you are going in for a home loan, or already have one which is not covered with an insurance, get yourselves covered a lump - sum payout term plan in the way illustrated below.

Lump Sum Payment: If all of the payouts are in the form of monthly income, then this lump sum amount includes the bonus amounts that may have been declared by the insurance compLump Sum Payment: If all of the payouts are in the form of monthly income, then this lump sum amount includes the bonus amounts that may have been declared by the insurance complump sum amount includes the bonus amounts that may have been declared by the insurance company.

If you happen to get a lump sum windfall from a life insurance payout, estate settlement or other source, consider putting it into an annuity.

However, if the nominee prefers to have a lump - sum benefit instead of a staggered benefit, the remaining payouts are discounted at the rate 5.25 % per annum and will be paid as lump - sum immediately.

Case 1: In a 15 - year (180 months) Family First Plan with face amount of Rs. 4,000 Monthly Family First, if the insured person dies in, say, the 120th month, the beneficiary will receive Rs 4,000 monthly income installment for the month of death and the remaining 60 - months period plus a lump sum of Rs. 80,000 (20 x 4000) with the first monthly payout.

These plans come with an aim to rescue if the insured has a feeling that his dependent might not be able to handle or invest the lump sum payout efficiently.

Technically, term plans can be described as a contract between the person insured and the insurance company wherein the company agrees to payout the lump - sum amount, referred to as the Sum Assured if the policy holder expires during the term of the plan.

The payout of a large, untaxed lump - sum will allow Jim's wife to invest the money she receives from the life insurance policy once he is gone, if she outlives him.

If the policyholder survives the term it gives out lump sum payout as per the maturity benefit.

If you pass away during the term of your policy, your beneficiaries will receive the death benefit as a lump sum (find out How to Collect a Life Insurance Payout).

This payout is in addition to the lump sum payout, even if the claim arises during the last 4 years of the policy.

Maturity benefits payable as lump sum payout which is the base Sum Assured plus accrued bonus and Terminal Bonus, (if any) and the policy terminates.

If you want to receive the outstanding maturity benefit as a lump sum at any time during the payout period, the discounted value @ 9 % per annum discount rate is payable.

The lump sum payout is given to the nominee in the event of death and the entire value of the fund is given to the insured if he survives the policy term.

There are few term plans which offer the flexibility to the nominees to take the death claim as lump sum at a discounted rate even if in the plan benefit is opted as staggered payout.

Critical illness insurance cover make lump sum or staggered payout if the policyholder is diagnosed with one of the critical illnesses mentioned in the policy.