Sentences with phrase «name them the beneficiary if»

When you open an account for a Roth IRA, you'll name a beneficiary if something should happen to you.

The insurance company will pay the death benefit to your named beneficiary if you die while your policy is in effect.

Accidental death insurance also referred to as accidental death and dismemberment insurance (AD & D) is designed to pay a set amount to a named beneficiary if the covered individual dies as a direct result of an accident.

With accidental death coverage, there is a death benefit paid out to a named beneficiary if the insured dies as the result of a covered accident.

It is important to note that with this guaranteed issue policy, there is a reduced amount of death benefit paid out to the policy's named beneficiary if the insured dies within three years of purchasing the policy.

This provides a death benefit to a named beneficiary if the insured dies as the result of a covered accident.

You spouse may have a legal right to the life insurance benefit, even if you do not name them the beneficiary if you used community property money to pay the policy's premiums.

The death benefit will be paid out to a named beneficiary if the insured passes away while the policy is in force.

With graded benefits, the entire amount of the stated death benefit may not be paid out to the named beneficiary if the insured dies within the first few years of owing the policy.

Term life insurance will only payout benefits to the named beneficiaries if the insured dies within the period term.

A life insurance policy pays a sum of money to a named beneficiary if the insured dies while the policy is in force.

It also pays a death benefit to any named beneficiary if the policy holder passes away within the one - year term.

With this type of life insurance plan, a partial amount of coverage will be provided to a named beneficiary if the insured passes away within the first couple of years that the policy is in force.

In the event of death, while covered by the «term» of the policy, the predetermined monetary benefit will be paid to the named beneficiary if you have paid the insurance premium.

Not exact matches

For example, if you update your will but forget to change the designated beneficiary to your IRA, the person named to your IRA is legally entitled to that asset when you die.

If your child does not end up going to college, you can either name a new beneficiary (different kid) or just pay the taxes on profits.

For example, this information includes your name, address, tax identification number, birth date, investment selection, beneficiary information, and possibly your personal bank account information and / or email address if you have provided that information.

For example, this information may include your name, address, social insurance number, investment selection, beneficiary information, account holdings, financial situation and possibly your personal bank account information if you are signing up for certain account options that involve the transmission of money between your bank account and your account with us.

If you prefer to retain ownership of your policy and name the Foundation as beneficiary, your estate will receive a tax receipt for the proceeds after your passing.

For example, if your spouse named you as the primary beneficiary of his IRA, and your son as the contingent beneficiary, if you disclaim your IRA inheritance (meeting all the necessary requirements), your son would inherit all of the IRA assets.

The site can not process any request if beneficiary's name doesn't match the trading account's name, and any request to transfer money to a 3rd party will not go through.

If you name your four kids, for example, each would receive 25 % of the death benefit as your beneficiary.

The only exceptions to this are if you don't name a beneficiary or your beneficiaries pass away first.

In addition to a primary beneficiary, it's important to name a contingent beneficiary who would receive the assets if the primary beneficiary is unable.

Name as your beneficiary your loan co-signer or someone who would have to repay your debt if you would die.

The contingent bequest provides for family and friends and will benefit the hospital only if the named beneficiaries predecease you.

If no beneficiary is named, the RRSP becomes part of your estate — and may lead to probate fees and taxes.

When you open an RRSP it is important to name a beneficiary to avoid a huge tax bill if you pass away.

Spouses are often named as beneficiaries (for obvious reasons) and if you've ever watched a Lifetime movie or any episode of Law & Order you know that the spouse is always the first suspect when there's foul play involved.

If the policy names the estate as the beneficiary, the estate will pay off all creditors before distributing any remaining money to the heirs.

Term life insurance is not taxable if the death benefits are payable to a named beneficiary (which must be a real person).

We don't recommend naming your kids as a beneficiaries if they're still minors.

Although the contingent beneficiary is named in the life insurance policy, he or she won't receive a portion of the death benefit if any of the primary beneficiaries are still alive.

If the annuitant dies during the period of payment, the payments will continue to the designated beneficiary (or a contingent annuitant, if namedIf the annuitant dies during the period of payment, the payments will continue to the designated beneficiary (or a contingent annuitant, if namedif named).

The site can not process any request if beneficiary's name doesn't match the trading account's name, and any request to transfer money to a 3rd party will not go through.

If you die while your policy is in force, your named beneficiaries will receive the policy's death benefit.

Include the death benefit and cash surrender value — if any — of each policy, as well as the names of the insurance companies and the beneficiaries.

If you have relatives or people that you're close to that you would trust to handle your funeral, we generally recommend that you name them as your beneficiary instead of a funeral home.

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.

For example, if the will or trust leaves equally among the testator's children, all life insurance policies and annuities should name the trust as beneficiary.

For example, if an individual owns a policy based on the life of his spouse and names himself as the beneficiary, this policy will not be creditor proof.

If a contingent or secondary beneficiary is not named, the life insurance proceeds will be paid to the estate of the policy owner by default.

You choose a death benefit and pay a premium for a certain «term» and if you die during the «term» the insurer pays out the death benefit to your named beneficiary.

I think your grandchild will have better long - term control if the IRA is originally in her name rather than as a beneficiary on your account.

If you don't put some thought into how you name your beneficiaries, your family and estate may face legal or tax complications.

When you purchase a term policy, you can name specific beneficiaries to receive the death benefit if you pass away.

Lastly, even if a beneficiary was properly named to secure creditor protection, the beneficiary may pass away before the life insured.

If you name the trust as beneficiary at your death, the plan will lose the tax deferment treatment upon the transfer, but the trustee will be able to distribute the plan proceeds according to the terms set out in your living trust.

If you want the assets in your account to go to someone besides your spouse — a child, a friend or a charity — you can name them as the «beneficiary» of your TFSA.

For instance, if a married couple with three kids, ages 4 to 12, spends $ 5,000 per child on sports each year, they could set up a trust naming each child and spouse as beneficiaries.