Sentences with phrase «lump sum payout upon»

You can cross in for pension plans as a way to provide the lump sum payout upon the retirement or loss of life of the individual, whichever takes place in advance.

Income Protection Option: Rather than the typical lump sum payout upon death, you can choose to pay your beneficiary the death benefit a monthly income stream.

Income Protection Option: Rather than the typical lump sum payout upon death, you can choose to pay your beneficiary the death benefit a monthly income stream.

Not exact matches

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.

Upon claim payout (which is usually only 30 days from diagnosis), you will receive a lump sum payment according to your coverage level, which can be used as you see fit.

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

Upon claim payout (which is usually only 30 days from diagnosis), you will receive a lump sum payment according to your coverage level, which can be used as you see fit.

Final expense insurance definition: a small whole life insurance policy ranging from $ 5,000 to $ 25,000 where the primary purpose of the lump sum death benefit payout is to cover burial expenses, such as a grave marker and cemetery plot, and other final expenses, such as any outstanding debts that are not forgivable upon death.

In short, with life insurance, you pay premiums over a given period so that your beneficiaries can receive a lump sum payment upon your passing (find out How to Collect a Life Insurance Payout).

By choosing this rider, the assigned nominee / family of the life insured is provided with the monthly income apart from the lump sum payout they get upon the death of the insured.

Life insurance provides a lump sum payout to your beneficiary or beneficiaries upon your (the insured's) death.

Critical illness plans offer a lump sum payout of the coverage amount upon diagnosis.

The percentage of Guaranteed Payout depends upon the Policy Term, Premium Payment Term and the Premium Amount as mentioned below: (The Policyholder has an option to take the above mentioned maturity benefit as a lump sum.

This type of payout option allows the nominees to receive the portion of claim benefit as a lump sum and the remaining amount as installments in the form of a monthly or yearly income for a specified period of time depending upon the plan conditions.