Sentences with phrase «pay beneficiaries»

Advantages of Whole Life Insurance Advantages of whole life insurance pay your beneficiaries a pre-decided quantity of cash.

This is because the insurance company is obliged to pay your beneficiaries a sum of USD 1,000,000 but the insurance company will get a part of that money from the fund value hence the risk of the insurance company is USD 1,000,000 minus the Fund Value thus also reducing your absolute cost of insurance.

Once the policy is in effect, if you die, the company will pay your beneficiaries the full death benefit.

This means that if you pass away from any health - related issues during the first two years of your policy, the policy will not pay your beneficiaries the full death benefit.

If a carrier determines that you violated your policy terms, it can refund your premiums to your estate and pay your beneficiaries nothing.

You hold up your end of the bargain with lifelong annual payments and the insurer guarantees to pay your beneficiaries a specific sum in the event of your death, no matter what.

With immediate annuities, the contract must have a specific rider that offers a death benefit to pay the beneficiaries the remaining balance of an annuity if a designated number of payments were not made during the annuitant's life — meaning he died prior to realizing the full benefit.

A life insurance contract is an agreement to pay your beneficiaries on your death.

Even if the death benefit is certainly not taxable, an insurance company is required to pay the beneficiaries a fixed interest rate while they are holding it as the beneficiaries are going through the claims process.

The accidental death benefit rider provides that if you should die in an accident the life insurance company will pay your beneficiaries twice the basic death benefit.

Do you prefer to buy a term policy that will pay your beneficiaries at death or would you like a policy that would have some cash values that you can fall back on if you are in need of cash in an emergency?

Policyholders agree to make premium payments to the company, and, in exchange, the company agrees to pay your beneficiaries a sum of money if you die while the policy is still in force.

Survivorship universal life insurance is often referred to as second - to - die insurance it insures two people but doesn't pay beneficiaries until both policyholders have passed away.

If something untoward happens to you during this period, the insurer will honor the commitment and pay your beneficiaries.

After two years, most graded plans pay your beneficiaries the full insurance amount.

The guaranty association will pick up the slack and continue to uphold the terms of your life insurance policy and pay your beneficiaries the death benefit should you pass away.

If the death benefit is not paid in a timely manner, the life insurance company may need to pay the beneficiaries interest.

A life - plus - 10 annuity on the other hand, continues to pay your beneficiaries the monthly payment for 10 years following your death.

If the life insurance company can not pay your beneficiaries, they will by default pay your estate.

Life insurance policies pay the beneficiaries of the policyholder a predetermined benefit if the policyholder dies.

You agree to pay premiums, and the carrier agrees to pay your beneficiaries a sum of money should you die.

This is a rider that will pay your beneficiaries more money if your death is the result of an accident.

In exchange for a fixed monthly or annual payment, that policy is a promise from the insurance carrier that they will pay your beneficiaries a set amount if you pass away before the end of the term.

Most insurance companies will pay the beneficiaries quickly, but it is up to them to inform the company in order to cash in the policy.

In difficult economic times, people need to know that their insurance companies will be able to pay their beneficiaries the money they wanted them to have should the policyholders pass away.

If the insured dies before the term ends, the insurance carrier agrees to pay any beneficiaries a lump sum of money.

With permanent life insurance policies, insurers know they will have to pay your beneficiaries at some point.

Focus solely on the guaranteed column, as this is what your insurance plan is contractually guaranteed to pay your beneficiaries; assumed values are always estimates or guesses on what will happen.

So if you pass away and had $ 500,000 of insurance then it would pay your beneficiaries $ 500,000.

Guaranteed coverage will pay your beneficiaries if your death results from disease, illness, AND accidents.

In life insurance, the insurer agrees to pay the beneficiaries a specified sum (death benefit) to indemnify them for the financial loss resulting from the death of the insured.

The administration estimates, based on current conditions, that even in 2037, there will be enough money generated from current workers to pay beneficiaries $ 760 for every $ 1,000 in benefits they were supposed to get.

There's no technical limitation or minimum requirement, but two practical factors would be: 1) in an irrevocable trust, you are placing some of your assets forever outside of your control and you can not directly benefit from them, and 2) since you can not be a trustee of your own irrevocable trust the trust will have to contain enough assets to pay the trustees for their time as well as to pay the beneficiaries for whom the trust is set up.

If you die within the time period defined in the policy, the insurance company will pay your beneficiaries the face value of your policy.

The issuing insurance company guarantees, subject to the insurance company's claims - paying ability, that upon your death it will pay your beneficiaries a preset amount that is typically free from income taxes.

«The last bailout of N8.8 bn he collected, Fayose fixed N5.3 bn of this money in Skye Bank so that he can benefit from the interest that will accrue on the deposit while the remaining N3.2 bn is in the JAC Account, even as he has refused to pay the beneficiaries of the bailout as approved by the Federal Government.»

If the status quo in the markets were to continue for the foreseeable future — which it won't — pensions funds will run out of cash to pay beneficiaries well in advance of the «foreseeable future.»

* You can even purchase an annuity that will last throughout your spouse's lifetime, continue paying your beneficiaries if you die within a certain time frame, or increase payments to keep up with inflation.

If the misstatement is not discovered until after you die, the insurance company must compute the amount of insurance your premiums would have purchased for someone of your actual age or sex and pay your beneficiary that amount.

If John dies prematurely within the 20 - year period, the insurance company pays his beneficiary a benefit of $ 500,000.

If you die as the direct result of a vehicular, air, or sea accident that you did not deliberately cause, your insurer will pay your beneficiary the accidental death benefit, which is normally twice the value of your insurance policy's face value.

(There are longevity annuities that pay your beneficiary any part of your original investments you didn't receive in payments.

529 Plans have no age or income restrictions for contributions or withdrawals, and the only limit on contribution amounts is that the total contributions may not be greater than the amount needed to pay the beneficiary's qualified education expenses.

Since life insurance pays your beneficiary when you pass, insurers want to be as accurate as possible and will often ask about your:

Life insurance pays your beneficiaries a substantial cash benefit should you die during the term of the policy — essentially protecting them against the risk that you might die prematurely, placing them in financial jeopardy.

College savings plans allow the person saving to establish an account for a student (the beneficiary) for the purpose of paying the beneficiary's eligible college expenses.

All are tax deferred and will pay your beneficiary a specified minimum amount when you die.

Income Protection Option: Rather than the typical lump sum payout upon death, you can choose to pay your beneficiary the death benefit a monthly income stream.

* You can even purchase an annuity that will last throughout your spouse's lifetime, continue paying your beneficiaries if you die within a certain time frame, or increase payments to keep up with inflation.

A $ 500,000 term life insurance policy pays your beneficiaries $ 500,000 whether you die tomorrow, or 15 years from now.