Sentences with phrase «of lump sum premium»

The insurance company pays the annuitant the annuity pension plan amount right after the receipt of the lump sum premium.

The annuity payouts occur from the next chosen frequency immediately after payment of lump sum premium and the payouts are available under various options

Not exact matches

Converting a typical U.S. monthly rate to a lump - sum premium using the rate schedule of PMI Group, the second - largest mortgage insurance firm in the U.S., an American customer with a fixed - rate 25 - year mortgage can expect to pay 1.15 % of the loan value to insure a mortgage with 10 % down.

One option is known as «single premium», in which you make a lump - sum payment at the time of closing which covers your PMI policy for as long as your mortgage is active.

Another option is to add the PMI premium in a lump sum to your mortgage balance and to repay it as part of your monthly mortgage payment.

One option is known as «single premium», in which you make a lump - sum payment at the time of closing which covers your PMI policy for as long as your mortgage is active.

You may also have the option of paying the premium annually, monthly, or as a lump - sum payment up front.

Mortgage insurance may come with a typical pay - as - you - go premium payment, or it may be capitalized into a lump - sum payment at the time of mortgage origination.

In case of occurrence of any of listed Critical illness, the Benefit (as chosen during inception) will be payable to you as a lump sum amount, irrespective of the death benefit payout option chosen, subject to policy being in force and all due premiums have been paid.

An income annuity that converts a lump - sum premium payment into a stream of income payments beginning within one year from purchase.

100 - 120 % of premiums paid are returned at the end of the policy term as a lump sum survival benefit.

You (the annuity owner) make a lump - sum payment or a series of premium payments to an annuity issuer (the insurance company), which will accumulate earnings at a fixed interest rate (a fixed annuity) or a variable rate determined by the growth (or losses) in investment options known as subaccounts (a variable annuity).

A SPIA, or single premium immediate annuity, is designed to generate instant income during retirement by taking a lump sum of money and converting it into systematic payments that continue for a specified period of time or for the life of the insured individual.

If you used the proceeds of a home mortgage to purchase or «carry» securities that produce tax - exempt income (municipal bonds), or to purchase single - premium (lump - sum) life insurance or annuity contracts, you can not deduct the mortgage interest.

The upfront premium is paid in a lump sum at closing or added to the loan balance, unlike the monthly premium, which is paid over the life of the loan in addition to the interest and principal.

The lump sum premium payment is an attribute of immediate annuities and ALSO means that they fall into the category of non-qualified annuities as compared to qualified annuities.

You may be billed monthly, annually, by an initial lump sum, or some combination of these practices for your mortgage insurance premium.

You give an insurer a lump sum of money (the premium) and in return you get a monthly payment for as long as you live, regardless of how the financial markets are behaving.

A Single Premium policy is the one in which the premium amount is paid in lump sum at the beginning of the policy as a return for the death benefit which is guaranteed to be paid up until the death of the policyholder.

No more lapses As the policy premium is single and is paid up in a lump sum, therefore, you do not have to stress over policy getting lapsed in a case of premium non-payment hence, making the policy valid for the entire policy term, which creates a good cash value while you render policy benefits in the end.

You pay a monthly premium - $ 500,000 of coverage for a twenty - year term will cost around $ 30 per month for a healthy male in their mid-30s - and, in return, your survivors will receive a tax - free lump sum of money if you die during the term.

The holder usually pays a premium, either in a series of payments or as one lump sum.

In exchange for a lump - sum premium, the insurance company promises to give you a steady, guaranteed paycheck for life (or a certain period of time, a less - common version of the product).

You can invest a lump sum today, or contribute flexible premium payments over time, 1 to build a stream of guaranteed lifetime income that starts when you need it to — any date 1 up to 40 years 2 in the future.

One thing that seniors might consider is a single premium option which is a lump sum payment into a policy in return for a certain amount of death benefit.

Once your premium payment term comes to an end, you receive a lump sum cash pay - out of 50 % of the «Sum Assured on Maturity».

For a small / regular premium, people could assure themselves of an increasingly valuable financial asset which transforms into a large lump - sum payment upon death.

The payable premium is based on the actual purchase price of the mortgage and can be paid in the form of a lump sum.

The company not only pays a lump sum assured at the time of your death, but it also pays back all the premiums you paid as the maturity amount.

Mortgage Insurance Premium: The lender may require you to pay your first year's mortgage insurance premium or a lump sum premium that covers the life of the loan, in advance, at the settlement.

An SPIA — or a single premium immediate annuity — create instant income during retirement through taking a lump sum of money and converting it into regular payments that continue for a specified period, or for the lifetime of the insured.

You can finance the cost of the insurance, paying an additional amount on top of your mortgage payment, you can pay the insurance premium in one lump sum each year, or you may be able to set up separate monthly payments with the lender or the private mortgage insurance company.

A premium is paid monthly to keep the policy active, covered in full or in part by the employer, and upon the death of the employee a lump sum of money, the death benefit, is paid out to a designated group or person known as the beneficiary.

An income annuity allows you to convert part of your retirement funds into a stream of guaranteed lifetime income payments using a single lump - sum of money called a «premium,» or through flexible premium payments over time, depending on the type of product selected.

Keep in mind that if a long - term care insurance policy does not accept lump - sum premium payments, you would have to make several partial exchanges from the CSV of your existing life insurance policy to the long - term care insurance policy provider to cover the annual premium cost.

The changes included limitations on the amounts that can be drawn in the first year, the option to receive a smaller one - time single lump sum disbursement, as well as changes to the mortgage insurance premium, the principal limit factor tables, and requiring a financial assessment of borrowers» ability to pay future property taxes and insurance obligations.

Life insurance policy is a contract between the insurers or insurance provider wherein a lump sum amount is promised as a death benefit to the beneficiary in the event of the policyholder's death, provided the policy was active and the premiums were paid till the insured's death.

The settlement company will continue paying the policy premiums until your death, and in exchange, they will pay you a lump sum of cash, which you can use for whatever you see fit — including saving for healthcare costs.

Premiums are the fixed periodic payment made to the insurance company in return of the lump sum payment offered by the insurer to the beneficiary at the time of demise of the insured person.

For the uninitiated, an annuity is a long - term contract between an individual and an insurance company which guarantees that in exchange for a lump - sum premium or a series of premiums the insurance company will guarantee an income stream that can last for a certain number of years — or even for an entire life.

(It's a good idea to time your card application such that you can pay off your annual car insurance premiums or other lump - sum payments to take a hefty chunk out of this spending requirement.)

The investor then takes over all the premium obligations and the original owner is relived of the ongoing financial burden while getting a lump - sum that is a lot more than the insurance company told them it was worth if it was surrendered.

Although there is typically no cash value, a term life policy can be worth the tradeoff — it can pay out a lump sum of cash later, for a lower initial premium now.

But keeping the time value of money in mind, insurance companies charge lesser premium for such a plan compared to the lump - sum payout term insurance plan, for a specific Sum Assured.

Term life is a fully different type of policy from that of universal life (indexed or not), or whole life insurance, but the basic idea is the same; the customer pays regular premiums to the insurer and should he die while the policy is in force, the insurer is obligated to pay his beneficiary or beneficiaries a pre-determined lump - sum amount.

Single Premium Policy With life insurance and annuities, a contract in which the entire premium is paid in a lump sum at the beginning of the contract period.

In exchange for paying premiums on a policy, the insurance company provides a lump - sum payment (far in excess of what you paid in), known as a death benefit, to beneficiaries upon the insured's death.

Cash Refund Annuity Income Payment Option Any type of income annuity that guarantees should the annuitant die prior to receiving payments equal to the premiums paid, the difference will be refunded to the named beneficiary in a lump sum.

Their premiums are often lump - sum payments and significantly higher, especially early in, than that of a term life policy, but because once the investment has been made, it is made, they can be used as security for loans and leveraged in a variety of ways to free up liquid capital, and their cash value is tax deferred.

Life insurance is a contract where, in exchange for premium payments, a lump sum of money is paid upon the death of the insured person.