Sentences with phrase «on death benefit payments»

In 1971 Ohio State Life was the first company to offer an advance on death benefit payments so that the policyholder could sustain their life.

Not exact matches

After annuity income payments begin, any death benefit payable will be based on the annuity option you have chosen.

If the beneficiary is a minor, another option is an «interest income» payout, which makes guaranteed payments toward the interest on the death benefit for a specified time — for example, until the minor comes of age — at which point the benefit amount becomes available to that beneficiary.

The company also offers an enhanced package called their Personal Auto Enhancements Endorsements, which adds among other features accidental death payments, and increased benefit limits for medical payments or accidents / trip interruptions incurred while away on vacation.

Borrower benefits: RISLA offers its borrowers options like loan forgiveness in the case of death or permanent disability, forbearance for up to 12 months for borrowers who go back to school, and co-signer release after 24 months of on - time payments

However, if your beneficiary receives the life insurance payment as a series of installments, the insurer will typically pay interest on the outstanding death benefit.

ANICO's GUL policy provides guaranteed death benefit protection as long as premium payments are made on time.

You can receive a lump sum payment from your death benefit, on a discounted basis, if you are diagnosed with a specific critical injury, such as a coma, severe brain injury, severe burns and paralysis.

(o) If there is no person who would be entitled, upon application therefor, to an annuity under section 2 of the Railroad Retirement Act of 1974 [98], or to a lump - sum payment under section 6 (b) of such Act, with respect to the death of an employee (as defined in such Act), then, notwithstanding section 210 (a)(9)[99] of this Act, compensation (as defined in such Railroad Retirement Act, but excluding compensation attributable as having been paid during any month on account of military service creditable under section 3 of such Act if wages are deemed to have been paid to such employee during such month under subsection (a) or (e) of section 217 of this Act) of such employee shall constitute remuneration for employment for purposes of determining (A) entitlement to and the amount of any lump — sum death payment under this title on the basis of such employee's wages and self — employment income and (B) entitlement to and the amount of any monthly benefit under this title, for the month in which such employee died or for any month thereafter, on the basis of such wages and self — employment income.

You make payments on the policy and, in return, the insurance company provides a lump - sum payment, also called a death benefit, to the beneficiaries you have chosen upon the death of the insured.

When you make premium payments on a cash - value life insurance policy, one portion of the payment is allotted to the policy's death benefit (based on your age, health and other underwriting factors).

The inner - workings of cash value life insurance consists of a life insurance policy, which is a contract between the policy owner, the insured (often the same person), and the insurer, where the insurer agrees to pay a death benefit to the policy's beneficiary, based on the owner continuing to make the policy's premium payments.

Depending on the type of permanent life insurance, you can change your premium payment and death benefit.

As long as you keep up with the premium payments and you don't cancel the policy early, there will be a guaranteed death benefit on both term and whole life.

If a policy of insurance has been or shall be effected by any person on his own life or upon the life of another person, the policyowner shall be entitled to any accelerated payments of the death benefit or accelerated payment of a special surrender value permitted under such policy as against the creditors, personal representatives, trustees in bankruptcy and receivers in state and federal courts of the policyowner.

Funds can not include anti-detriment payments as part of a death benefit if the member dies on or after 1 July 2017.

Some may select a death benefit that matches the mortgage on the home, so the spouse does not have the burden of monthly mortgage payments.

If you are looking for a very safe and stable product, whole life and universal life offer guaranteed minimum returns on investment, while a universal policy lets you alter your death benefits and premium payments if you need more flexibility.

From 1 July 2017, funds may only include an anti-detriment payment as part of a death benefit if the member has died on or before 30 June 2017.

All guarantees, including death benefit payments, are dependent on the claims - paying ability of New York Life Insurance and Annuity Corporation (NYLIAC) and do not apply to the investment performance of the underlying funds in the variable annuity.

Workers» compensation funds can provide substantial payments for permanent disfigurement or scars, vocational retraining if the injury prevents the worker from returning to their original job and death benefits for immediate family members if the worker was killed on the job.

(2) Notwithstanding anything in this Act, but subject to subsections (2.1) and (2.2), an application for a benefit, other than a death benefit, that would have been payable in respect of a month to a deceased person who, prior to the person's death, would have been entitled on approval of an application to payment of that benefit under this Act may be approved in respect of that month only if it is made within 12 months after the death of that person by the estate, the representative or heir of that person or by any person that may be prescribed by regulation.

Further, family members of an employee killed in climbing accidents on the job may be eligible for death benefits, which can include payments based on a percentage of the employee's wages and a burial allowance.

(a) is subrogated to and is deemed to be the assignee of all rights of recovery against any other person liable in respect of the loss, damage, bodily injury or death of a person to whom, on whose behalf or in respect of whom the payment of benefits or insurance money is made or to be made, and

Universal life insurance offers flexible premium payments and a death benefit than can be increased or decreased depending on your needs.

And as your pay down on your home loan accelerates since you are applying more of your payment to principal, your death benefit pay out also decreases at an accelerated rate to match.

You may purchase Additional PIP coverage, to raise the overall limit of No - Fault benefits available in case of an accident up to $ 100,000 or higher and, in the process, increase the potential maximum amounts of lost earnings payments, other necessary expenses or the death benefit, depending on the limit you select.

Effect on policy: After payment of an accelerated death benefit, the policy face amount will be reduced proportionally to the amount you chose to accelerate.

Based on the size of the death benefit or the number of months a policyholder would like their beneficiaries to receive payments, a policyholder can determine the distribution plan that works best for their family.

Yes, in most instances your named beneficiary will receive a non-taxable lump sum payment on your death benefits.

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.

Your payments stay the same, you get a guaranteed rate of return on the «cash value» investment component of the policy, and the death benefit amount doesn't change.

A death benefit is a payment to the beneficiary on an annuity, pension, or life insurance policy upon the death of the annuitant or policyholder.

LTCSO allows the owner of the AAFMAA policy the option of converting the death benefit on an eligible insured life — normally payable only upon the death of the insured — into regular periodic payments prior to death, specifically to defray the cost of nursing home, custodial or home health care for the insured.

Illustration A document used to show a life insurance or annuity policy's guaranteed and (non-guaranteed) projected values, including cash values, income payments, and death benefits, based on certain assumptions.

If you die on active duty, SGLI will allow your family to receive an extra $ 150,000 payment up to the maximum allowed coverage of $ 400,000, so you have the option to pay for a lower coverage amount and still receive the full $ 400,000 death benefit depending on the circumstances.

Termination of the policy also occurs on payment of the Death Benefit.

The policy is terminated upon the earliest of the following: on payment of the Surrender Benefit, or Death Benefit or Maturity Benefit.

There is a Double Death benefit or Permanent Total Disablement Benefit, in which there is payment of double benefit (200 % of the Sum Insured) for the death or the Permanent Total Disablement due to the accident while travelling as a passenger on public tranDeath benefit or Permanent Total Disablement Benefit, in which there is payment of double benefit (200 % of the Sum Insured) for the death or the Permanent Total Disablement due to the accident while travelling as a passenger on public trbenefit or Permanent Total Disablement Benefit, in which there is payment of double benefit (200 % of the Sum Insured) for the death or the Permanent Total Disablement due to the accident while travelling as a passenger on public trBenefit, in which there is payment of double benefit (200 % of the Sum Insured) for the death or the Permanent Total Disablement due to the accident while travelling as a passenger on public trbenefit (200 % of the Sum Insured) for the death or the Permanent Total Disablement due to the accident while travelling as a passenger on public trandeath or the Permanent Total Disablement due to the accident while travelling as a passenger on public transport

A minimum guaranteed death benefit that won't decrease as long as you continue to make your minimum premium payments on time

The plan covers against death of the policyholder only without covering the payment of any benefit up on maturity.

Termination of the policy also occurs on payment of the Surrender Benefit, Maturity benefit or the Death BBenefit, Maturity benefit or the Death Bbenefit or the Death BenefitBenefit.

Termination occurs on payment of the Death Benefit.

If the chosen Benefit Payment Preference is Save - n - Gain under any of the plan option, in case of death or critical illness suffered by the insured during the tenure of the plan, the Sum Assured is paid to the beneficiary who is the child, all future premiums are waived off and 50 % of the premiums are paid by the company towards the plan and 50 % to the beneficiary on every premium due date and the plan continues.

There are limitations and conditions regarding payment of benefits due to misrepresentations on the application or when death is the result of suicide in the first two policy years.

This way, if your ex passes and you were relying on their child support payments, you'll be able to receive the death benefit to pay for you and your children, but you don't have to rely on him or her to make the premium payments (which you can ask for the money for in the divorce settlement.

Depending on the guaranteed life insurance policy and the company you acquire it from, death benefit payments could be denied or forfeited if the policyholder dies within the first 24 months of policy activation.

After annuity income payments begin, any death benefit payable will be based on the annuity option you have chosen.

Oftentimes the accelerated death benefit is automatically included on certain types of life insurance policies for free or for just a small amount of additional premium payment.

For example, if you start making your premium payments on a whole life insurance policy, the insurance company will eventually close out the policy and you will no longer receive a death benefit from it.