Sentences with phrase «pay a death benefit to your beneficiaries so»

Since the insurer is guaranteed to pay a death benefit to your beneficiaries so long as all premiums are paid, permanent life insurance rates are significantly higher than those for term life insurance.

Since the insurer is guaranteed to pay a death benefit to your beneficiaries so long as all premiums are paid, permanent life insurance rates are significantly higher than those for term life insurance.

Not exact matches

It is so basic it should probably be called «death insurance» rather than life insurance, since your primary benefit is that it will pay out a death benefit to your beneficiary.

Binding death benefit nomination: Where the super fund, in the event of your death, must pay your superannuation benefit to your nominated beneficiary, unless it would be unlawful to do so.

So, even if the entire death benefit is advanced due to long term care needs, the policy will still pay a lump sum death benefit to your beneficiary when you die.

Where the superannuation fund, in the event of your death, must pay your superannuation benefit to your nominated beneficiary, unless it would be unlawful to do so.

Generally speaking, this is initially the most affordable life insurance you can buy that offers a lump sum death benefit paid to your beneficiary so long as you keep paying premiums and you pass away within the term.

Should you die while the policy is in force, your beneficiaries will receive not only your the initial face value as a death benefit, but also it's common for dividends to buy additional insurance by way of what are called «paid up additions», so the death benefit could actually be higher than the face value at the purchase of the policy.

If the insured dies during this period, death benefits are paid out to the beneficiary so long as premium payments have been made.

So long as you regularly pay your premium, then the death benefits allocated for your beneficiaries are guaranteed to be paid out.

If you purchase a long - term care hybrid policy and never actually need long - term care, most life insurance companies have set it up so that the money you've paid in for the rider will ultimately be rerouted to your regular life insurance coverage, and your beneficiaries will receive the full death benefit amount.

The way it works is that when a death benefit is paid out to the beneficiaries, Foresters will donate an additional 1 % of the face amount to a chosen registered charity so the certificate holder can support their favorite cause.

vary depending on the type of life policy and its coverage benefits, most life insurance policies are set up so that in the event of a person's death, a sum of money is paid to the chosen beneficiary.

So, you pay premiums to the insurer, and if you die, the insurer pays out a life insurance death benefit to your family (beneficiary).

So if you named your spouse as primary beneficiary, had not named any contingent beneficiaries, and you both pass away at the same time, then the insurance company won't be able to pay your spouse — and at that point they will simply pay the death benefit to the estate.

The beneficiary could use the death benefit to pay the estate taxes, so your heirs would not have to sell off parts of the estate or business to pay Uncle Sam.

So, even if the entire death benefit is advanced due to long term care needs, the policy will still pay a lump sum death benefit to your beneficiary when you die.

This could have an effect on how much of the final expenses can be paid with the death benefit proceeds — so if any cash is used from the cash value component, it may be wise to inform the beneficiary of this.

It's important to note, however, your beneficiary can use the death benefit for any reason they choose, so it's critical that you and your beneficiary agree on using the death benefit to pay off the mortgage.

These give the policy flexibility in the later year if you want to stop making premium payments, but keep the policy in force so it will still pay out the death benefit to your beneficiaries.

In most cases, should the insured die from natural causes during the graded death benefit, most if not all of the paid premiums will be returned to the insured beneficiaries so it will be as though the insured didn't actually lose money by purchasing the policy and dying too soon!

It's not all bad news because with most guaranteed accepted life insurance policies, the best final expense and burial insurance companies will generally have a policy whereby: Should the insured die from natural causes during the graded death benefit, most if not all of the paid premiums will be returned to the insured beneficiaries so it will be as though the insured didn't actually lose money by purchasing the policy and dying too soon!

They are so sure they are going to have to pay out a death benefit to my beneficiary that they just aren't going to put their company at risk.

So if you had been paying $ 1000 a year for 5 years on your $ 250,000 policy and it was determined that you should have been paying $ 2000 a year, they would deduct that additional 5 years time $ 1000 and deliver a death benefit of $ 245,000 to your beneficiary.