Sentences with phrase «pay a death benefit to the beneficiary named»

The main purpose of the policy is to pay a death benefit to the beneficiary named in the policy.

Not exact matches

«A ruling by a Louisiana appeals court recently stated that the entire death benefit from a single premium annuity plan paid to the beneficiary named in that plan was subject to inheritance tax because it was part of the deceased annuity owner's estate,» says annuities specialist Steven Hart.

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.

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.

If your grandmother has also passed and there are no other named beneficiaries, then the death benefit will be paid to your uncle's estate.

In the event of the insured's death, a life insurance death benefit will be paid to the named beneficiary on the policy - provided a claim is filed.

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

Therefore, if you don't have a named life insurance beneficiary, or they're deceased, your family may never receive the death benefit you paid to have in place.

If the policyholder dies while the policy is in force, the coverage amount (grimly called a «death benefit») is paid out in one tax - free lump sum to the beneficiaries named in the policy.

In return for a premium payment, an insurance company will pay out a stated amount of tax - free death benefit to a named beneficiary — assuming, of course, the policy is in - force when the insured passes away.

If you die while the policy is in effect, then the insurer pays the full death benefit to whomever you've named as the beneficiary.

If the policyholder dies within the term of the policy — and the policyholder has paid the premiums and the policy is in good standing — the insurance provider will pay a death benefit to policy's named beneficiaries.

If you die during the policy term, the policy pays out the predetermined sum of money (or death benefit) to your named beneficiary (ies) as long as you continued to pay your premiums on 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 particular, these policies can help pay for estate taxes if the death benefit is paid directly to the named beneficiaries.

If you die while the policy is in force, a pre-set cash payment called a «death benefit» will be paid out to whomever you name as a beneficiary.

If the policyholder dies during the policy term, the death benefit, a tax - free lump sum of money, is paid out to named beneficiaries.

The husband signed «Expression of Wish (Nomination of Beneficiaries) Form, saying that «the trustees / scheme administrator has absolute discretion as to which of my beneficiaries receive the lump sum death benefit, I would like this to be paid to the following», where the widow is named with 1Beneficiaries) Form, saying that «the trustees / scheme administrator has absolute discretion as to which of my beneficiaries receive the lump sum death benefit, I would like this to be paid to the following», where the widow is named with 1beneficiaries receive the lump sum death benefit, I would like this to be paid to the following», where the widow is named with 100 % percent.

In case the insured dies during the grace period, the insurer is liable to pay the death benefit (coverage amount) to the beneficiary named in the policy, less any amount outstanding (including the unpaid premium).

It is, however, important to note that if there is an unpaid balance at the time of the insured's death, the unpaid amount will be charged to the death benefit amount that is paid out to the named policy beneficiary.

Alternatively, the employer may own and pay for the policy but permit the employee to name the beneficiary under the policy for a portion of the death benefit.

In many ways, Final expense insurance — which is also oftentimes referred to as funeral insurance or burial insurance coverage — works like most other types of life insurance in that, in exchange for a premium payment, a death benefit will be paid out to a named beneficiary (or beneficiaries).

When you purchase life insurance, you pay a premium to the life insurance company with the understanding that they agree to pay the face amount or death benefit to the beneficiary you have named.

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

No medical exam life insurance works in a similar manner to regular life insurance coverage in that in return for a premium payment; a death benefit amount is paid out to a named beneficiary.

In its most basic sense, funeral insurance actually works in a similar fashion to most other types of life insurance in that a person pays a premium to an insurance company in exchange for the payment of a death benefit to a named beneficiary in the case of the insured's death while the policy is in force.

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

With the whole life insurance policy through Colonial Penn, the full amount of the death benefit will be paid out to a named beneficiary (or multiple named beneficiaries), regardless of when death occurs.

This policy provides a graded benefit, which means that if death of the insured that is due to natural causes — in other words, death that is caused by means other than an accident — during the first two years in which the policy has been in force, the named policy beneficiary will only receive back all of the premiums that were paid in, plus 10 percent, as versus the face amount of the policy.

Death Benefit Only Plan — Where death benefits would be paid to the named beneficiary of an employee and which is a non-taxable benefit for the employee's esDeath Benefit Only Plan — Where death benefits would be paid to the named beneficiary of an employee and which is a non-taxable benefit for the employee's Benefit Only Plan — Where death benefits would be paid to the named beneficiary of an employee and which is a non-taxable benefit for the employee's esdeath benefits would be paid to the named beneficiary of an employee and which is a non-taxable benefit for the employee's benefit for the employee's estate.

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.

Death benefits paid out to your named beneficiary are exempt from both income tax and estate taxes.

If the policyholder dies while the policy is in force, the coverage amount (grimly called a «death benefit») is paid out in one tax - free lump sum to the beneficiaries named in the policy.

The policy owner is responsible to pay the premiums, and in exchange, the insurance company promises to pay the death benefit to the named beneficiaries.

If you die while the policy is in effect, then the insurer pays the full death benefit to whomever you've named as the beneficiary.

When the second spouse dies, the death benefit that the named beneficiary (ies) receive can be used to pay any outstanding estate taxes.

This act allows the court to decide that the life policy proceeds are paid as if the insured outlived the primary beneficiary and if a secondary beneficiary is named, he or she will receive the death benefit proceeds.

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.

If you named a beneficiary on your enrollment when you applied for coverage, benefits such as those for Accidental Death and Dismemberment (AD&D) or Flight Accidents will be paid to that person if you die.

Life insurance is typically pretty straightforward: you pay for a policy, and if you die while that policy is still in force, the death benefit goes to your named beneficiary.

The accidental death part of an AD&D policy pays a lump sum benefit to the person you've named as a beneficiary if you're killed in an accident.

Should the insured pass away during the policy's term, a death benefit will be paid out to the named beneficiary.

Universal life insurance pays death benefits to the named beneficiary after the insured's death.

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.

The death benefit will be paid to the beneficiary named by the insured, if they die.

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).

Term life insurance, as the name suggests, is a life insurance policy that covers a set number of years and would pay the lump sum death benefit to the beneficiary if the insured person died during the term of the policy.

If your grandmother has also passed and there are no other named beneficiaries, then the death benefit will be paid to your uncle's estate.

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).