Sentences with phrase «pay the death benefit to the beneficiaries list»

Not exact matches

If the policyowner dies while the policy remains in effect, the death benefit is paid out to the listed beneficiary or beneficiaries, while the cash value becomes the property of the insurance company.

Nationwide agreed to pay $ 7.2 million to seven states in order to settle allegations that it failed to pay death benefits to a significant number of people who were unaware that they were listed as beneficiaries on life insurance policies.

Or you can instead list your surviving spouse or family members as the sole primary beneficiaries, allowing them the freedom to pay off the mortgage once they get the death benefit.

A policy with a May 1, 2015, effective date means that if the insured passes away on May 1, 2015, or afterward, the policy will pay the death benefit to any listed beneficiaries.

The death benefits associated with the policy are paid to the listed beneficiary -LRB-'s) and there are no guarantees that its benefit will be sufficient when needed to pay for any particular goods or services nor that those goods or services will be provided by any particular provider.

Traditional life insurance policies pay the death benefit directly to the beneficiaries listed on a policy.

If you are listed as the beneficiary of an annuity, you will not have to pay income taxes on the death benefits you receive from it.

Per the policy that is purchased, when the insured person dies the policy will pay the death benefit to the listed beneficiary or beneficiaries if more than one is listed.