Sentences with phrase «named beneficiaries upon»

Life insurance is a contract between an insurer and a policyholder in which the insurer guarantees payment of a death benefit to named beneficiaries upon the death of the insured.

Life insurance securities provide finances for the named beneficiaries upon the policyholder's death.

By purchasing life insurance, you gain the assurance that your insurer will pay a death benefit to your named beneficiaries upon your death (as long as your policy is still in force at that time).

Buying a term life insurance policy would provide your loved ones with a death benefit (paid to your named beneficiary upon your passing), which would help cover the costs that you normally covered.

In return for these premiums, the insurance company will provide a death benefit to a named beneficiary upon proof of the insured's death and a policy cash value.

When you have a final expense insurance policy, a death benefit is paid out to a named beneficiary upon the death of the insured.

Accidental Death & Dismemberment plans are similar to a life insurance policy, in that you would name a beneficiary upon purchasing your travel insurance.

A type of financial - protection policy that provides cash to a named beneficiary upon the insured's death, which an insurance company will offer to an applicant regardless of health.

The death benefit is the face amount or coverage amount of the policy that will be paid to the named beneficiary upon death of the insured (less any outstanding policy loans and interest).

Whole life policies offer a choice of having a level benefit (where the policy pays out the face amount and any rider benefits to a named beneficiary upon the insured's death), or a graded benefit (where the policy will pay out a reduced amount of benefit if the insured's death occurs for reasons other than an accident within the first two policy years).

Life insurance pays out a specified amount to a named beneficiary upon your death.

With term insurance, only a death benefit is paid out to a named beneficiary upon the insured's death.

In return for these premiums, the insurance company will provide a death benefit to a named beneficiary upon proof of the insured's death and a policy cash value.

The initial amount of life insurance that will be payable to the named beneficiary upon the death of the insured.

Not exact matches

Put another way, probate assets are generally those you own alone in your name, while nonprobate assets generally consist of assets you no longer have legal title to (i.e. trust assets), assets that will pass automatically upon your death (i.e. beneficiary designation), and assets owned jointly with others (i.e. joint tenancy with right of survivorship).

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.

Cajon — If you mean naming a spouse or common - law partner as a beneficiary upon death then the answer is yes you can and the proceeds are tax free.

Because they are close relations, you can choose to name them as beneficiaries even if they do not rely upon your finances.

Another name would be «death» insurance, since the focus is on providing for the insured's beneficiary upon the death of the insured.

If I have a will with «person A» named as beneficiary for the TFSA and a Beneficiary form completed naming «person B»... who would actually be entitled to the assets beneficiary for the TFSA and a Beneficiary form completed naming «person B»... who would actually be entitled to the assets Beneficiary form completed naming «person B»... who would actually be entitled to the assets upon death?

A life insurance policy is a contract between you and an insurance company that provides your named beneficiaries with a death benefit payout upon your death (if your policy is in good standing).

Life insurance provides a tax - free cash payment to your named beneficiaries (such as your spouse or children) upon your death.

Among the various assets he owned upon death was a U.S. individual retirement account (IRA) on which the taxpayer and his siblings were named as beneficiaries.

Finally, upon the death of the employee, the death benefit would go to the employee's named beneficiaries.

A Designation of Beneficiary Form filed with an investment firm upon the opening of an Investment account in April 2012, where the sole stated beneficiary is one of the three friends named in the (second bullet above) oBeneficiary Form filed with an investment firm upon the opening of an Investment account in April 2012, where the sole stated beneficiary is one of the three friends named in the (second bullet above) obeneficiary is one of the three friends named in the (second bullet above) of the will?

A reissue transaction is a reportable event if a living owner, principal co-owner, surviving co-owner, beneficiary, or other person entitled to ownership (for example, an heir upon the death of persons named on the bond) is not named owner or principal co-owner in the new registration on the bond issued in the transaction.

Remember also to name a remainder beneficiary upon the death of the pets.

Financial Accounts: Most financial accounts may be made payable upon death to a named beneficiary, including a nonprofit organization such as Animal Humane.

In many ways, Final expense insurance works like any other type of life insurance policy in that a premium is paid for the coverage, and then upon the insured's death, the proceeds are paid out to a named beneficiary.

Level Term Rider Proceeds of this rider are payable to the beneficiary upon receiving proof that the person named as Covered Insured died while his or her coverage under this rider was in effect.

You can name any trusted family member as a beneficiary and they will be responsible to make the claim and use the money to carry out your wishes upon your death.

(Upon the insured's death, the remainder of the death benefit will be paid out to the policy's named beneficiary).

The insurance company pays a cash amount (called the coverage amount or death benefit) to the beneficiary (s) named in the policy upon the death of the insured person named in the policy.

When buying life insurance, you designate who or what should receive the related benefits upon your death; those that you name are the beneficiaries.

Upon your death, the proceeds of your policy will be paid to the named beneficiaries that are listed on your contract.

Upon your death, your remaining annuity benefits (if any) will go to the person you name as your beneficiary, but again, how this works can vary depending on the type of the annuity.

You can name any beneficiary, typically a family member, who would make the claim and receive the money upon your death.

In doing so, the owner of a life insurance policy is required to name a beneficiary — or beneficiaries — who will receive the insurance policy proceeds upon the individual's death.

In naming a beneficiary, keep in mind that the life insurance company will want to see only the names of those who are financially dependent upon you.

Beneficiary is the person (s) or entity (ies)(for e.g. corporation, trust etc.) who is named in the policy as the recipient of insurance proceeds upon the death of the insured.

In some cases, the naming of a beneficiary is irrevocable, meaning the policyholder can not remove or replace the beneficiary with another entity or reduce the potential benefits the irrevocable beneficiary receives upon the insured's expiry without the beneficiary's express written consent.

In other words, regardless of how long the insured has had the policy, upon death, the policy will pay out the full amount of the stated death benefit to the named beneficiary.

In this case, the proceeds are paid out to a named beneficiary, who is generally in charge of overseeing that the wishes of the insured take place upon his or her death.

The insurance company pays a cash amount or death benefit to the beneficiary (s) named in the policy upon the death of the insured named in the policy.

Then, upon the death of the insured, the funds from a burial insurance policy will be paid out, free of income taxes, to your named beneficiary (or beneficiaries).

For instance if an insured has four children, the contract owner could name each child a 25 % primary beneficiary, meaning each child will receive 25 % of the total death benefit upon payout.

Beneficiary is the person named in the insurance contract who is entitled to receive the benefits of the policy upon the death of the policy holder.

Upon the death of the primary insured, term life insurance pays the face value of the policy to the named beneficiary.

Upon the death of the insured, the death benefit is then paid to the named beneficiaries of the ILIT.

The second person named to receive benefits upon the death of an insured if the first - named beneficiary is not alive or does not collect all the benefits before his or her own death.