Sentences with phrase «means an income replacement»

«specified benefit» means an income replacement benefit, non-earner benefit, caregiver benefit or a payment for housekeeping or home maintenance services under section 23.

Not exact matches

A 60 per cent replacement rate means that someone who earned $ 40,000 on average while working would receive $ 24,000 in retirement income from public sources.

Many people rely on the 70 percent replacement rule, meaning you'll need to have about 70 percent of your pre-retirement income in retirement.

Focusing on income as the outcome is an important first step in helping participants meet their replacement income goals; effective progress means continuing to evaluate new income - focused solutions, improving plan metrics and utilizing relevant benchmarks to measure success.

I.e. if the yearly budget is $ 100K, then providing 10 yrs of income replacement will mean a $ 1million policy.

While Social Security is an important component of someone's overall financial plan, it is not meant to be the only replacement for income in retirement.

No, it means your insurance will pay for the repair / replacement of your car, and any health expenses and lost income you may incur, if an uninsured motorist hits YOU.

This is not meant as income replacement but to cover the cost of overhead while the lawyer is on leave.

The weekly amount of any income replacement or non-earner benefit payable under this Regulation, determined without regard to any other income replacement assistance, within the meaning of subsection 4 (1), that is received by the insured person.

They know that ignorance of the law means more money in the pocket of the insurance company — instead of being used for your medical costs, lost income, replacement of your equipment, and compensation for your pain and suffering.

This means that our team will make sure that you receive income replacement quickly so that you can continue to pay your bills.

But what does that term income replacement really mean?

Life insurance is meant to be used as an income replacement to benefit those who depend upon you financially.

It is primarily a means of income replacement, where - in the loss of income of the policy holder is made good by the insur - ance amount on his death.

This typically means that your income replacement needs going forward are also likely to increase.

The money released to you when you use your disability income rider is meant to be a reasonable replacement for that lost income and may be subject to income tax.

That means that the income replacement protection of a life insurance policy is still important, yet another reason to look into the purchase of a senior life insurance policy.

This means that you are looking more at income replacement and retirement protection than debt payment for the life insurance policy to cover.