Sentences with phrase «payable at the death»

The general function of life insurance is to create a sum of money payable at the death of the insured in order to replace the economic loss resulting from the person's death.

This coverage can help protect your loved ones by providing cash benefits payable at your death.

Whole insurance offers lifelong protection with premiums that never increase, and provides cash benefits payable at your death.

Whole Life Insurance Permanent life insurance offering protection for the whole of life, with proceeds payable at death (or maturity of the policy) provided premiums are paid.

These riders usually have an annual cost to the contract itself, but this cost does not lower the amount payable at death.

Joint Life and Survivor Insurance Joint Life and Survivor Insurance provides coverage for two or more persons with the death benefit payable at the death of the last of the insureds.

Whole life insurance: A plan of insurance offering protection for the whole of life, proceeds being payable at death.

If the life insurance death benefit paid to you is not greater than the amount of the life insurance death benefit payable at death then it is not taxable and you should not include it on your tax return.

Not exact matches

At the time of your death, the insurance proceeds are payable to a trustee who handles them for your family in the manner specified in the trust document.

Because the federal estate tax imposes a lump sum obligation upon by the estate that is payable within 9 months of the date of death, a huge estate planning objective has been to avoid it at all costs.

employment income (salaries, commissions, vacation pay) owing by the employer but not payable at the time of death for a pay period that ended before the date of death, as well as retroactive payments paid pursuant to a collective agreement signed before the date of death;

The death benefit payable at any point in time will not be less than 105 % of all premiums paid.

The total tax payable on your $ 184,914 RRIF would likely be at least 30 % and likely much more than that depending on your other sources of income in your year of death.

When an asset passes to a surviving spouse on death, by default, it is transferred at its adjusted cost base for tax purposes, meaning no capital gains tax is payable at that time.

It's used primarily for estate planning purposes, as the estate tax is usually only payable at the second death.

At the time of your death, preneed life insurance proceeds are often made payable immediately to an assignee (typically the funeral home) to cover costs with little (if any) delay.

The death benefit coverage in force at December 31, 2011 (representing the amount payable if all of approximately 480,000 contractholders had submitted death claims as of that date) was approximately $ 5.4 billion.

Under the second variant, a death benefit consists of a Lump Sum benefit, which is payable instantly on demise, followed by the regular payouts in form of the total Fund Value and Family Income Benefit at the conclusion of the Term of your policy.

The coverage amount payable to your beneficiary at the end of your life, called your death benefit, usually has a maximum limit of around $ 25,000.

Accordingly, estate planning is often aimed at reducing the amount of estate administration tax payable on death by employing other means of transmitting wealth.

I GIVE the amount which at my death equals the maximum which I can give to them by this my will without Inheritance Tax becoming payable in respect of this gift:

(5) Where insurance money is by the contract payable to a person who has died or to his or her personal representative and such deceased person was not at the date of his or her death domiciled in Ontario, the insurer may pay the insurance money to the personal representative of such person appointed under the law of his or her domicile, and any such payment discharges the insurer to the extent of the amount paid.

Where an ICBC insured at the date of death resulting from a motor vehicle accident comes within an age group set out in column A of the following Table and the insured has the status set out in column B, C or D, the amount of death benefit payable under section 92 is the amount set out below that status and opposite that age group.

Proceeds In life insurance or annuities, the net amount of death benefit payable by the company at the insured's death.

This rider enables your spouse, if he or she is the sole primary beneficiary, to continue your policy upon your death as the new owner, at a potentially higher policy value that includes any amount that would be payable under the Enhanced Beneficiary Benefit Rider.

Moreover, the sum assured payable on death will not be reduced at any point of time during the term of the policy except where partial withdrawals have been made during the two - year period immediately preceding the death of the life assured.

At the end of the second year and thereafter, the full protection is payable when death occurs - whatever the cause!

The coverage amount payable to your beneficiary at the end of your life, called your death benefit, usually has a maximum limit of around $ 25,000.

The death benefit, payable if the insured stay at home spouse dies, could help pay for childcare, housekeeping, meals, and other services your family can't do without.

In case of availing monthly instalments, a fixed monthly income chosen at the inception of the plan is payable following the month of death till the end of the plan tenure subject to a minimum of 3 years or 36 monthly payments.

The date at which the face amount of a life insurance policy becomes payable by either death or other contract stipulation.

The actuarial present value of one unit of an n - year term insurance policy payable at the moment of death can be found similarly by integrating from 0 to n.

To determine the actuarial present value of the benefit we need to calculate the expected value E (Z)-LCB- \ displaystyle \, E (Z)-RCB- of this random variable Z. Suppose the death benefit is payable at the end of year of death.

If the benefit is payable at the moment of death, then T (G, x): = G - x and the actuarial present value of one unit of whole life insurance is calculated as

The Death Benefit promised by the contract is a fixed obligation calculated to be payable at the end of life expectancy, which may be 50 years or more in the future.

The lump sum death benefit is payable as long as the deceased worker was considered to be currently insured, which means they had at least 6 quarters of earnings covered by Social Security withholding during the full 13 - quarter period prior to their death.

When there is «gap,» or difference, between the cash value of the policy and the death benefit payable under the policy, this difference is the «net amount at risk» since it represents an amount of money that the insurer needs to pay with money that the policy has not yet earned.

At the owner's death, the policy proceeds are payable to the trust which can then, at the direction of the trustee, be used to pay any applicable estate taxeAt the owner's death, the policy proceeds are payable to the trust which can then, at the direction of the trustee, be used to pay any applicable estate taxeat the direction of the trustee, be used to pay any applicable estate taxes.

No benefit for accidental death is payable if the Insured's death is caused or contributed to by: disease or infirmity of mind or body, or medical or surgical treatment for such disease or infirmity; an infection not occurring as a direct result or consequence of an accidental bodily injury; any attempt at suicide, or intentional self - inflicted injury, while sane or insane; travel in an aircraft or device used for testing or experimental purposes, used by or for military authority or used for travel beyond the earth's atmosphere; active participation in a riot or insurrection; committing or attempting to commit a felony; intoxication as defined by the jurisdiction where the accidental injury occurred; riding or driving an air, land or water vehicle in a race, speed or endurance contest; rock or mountain climbing; bungee jumping; or aeronautics (hang - gliding, skydiving, parachuting, ultralight, soaring, ballooning and parasailing).

And the insured amount is payable by the Insurer at the end of a specified number of years or upon the death of the Insured, whichever is earlier.

Bonus gets added to your policy from first year of the policy which is payable either at maturity or death or surrender whichever is earlier

Any benefits payable to the Insured Person and unpaid at the Insured Person's death will be paid to the Insured Person's estate.

On death of the life assured at any time prior to 11th February 2027, «165,100.00 plus the vested bonuses will be payable.

Suicide Exclusion: If the Life Assured commits suicide within one year from the risk commencement date or revival date, if revived, whether sane or insane at that time, the Company will limit the Death Benefits to the Fund Value as available on the death date and no insurance benefit will be payDeath Benefits to the Fund Value as available on the death date and no insurance benefit will be paydeath date and no insurance benefit will be payable.

Maturity Benefit No amount is payable on maturity 1) Reducing Cover - The death benefit will be as per the monthly loan schedule stated at inception of the member contract.

Joint Life Insurance Joint Life Insurance provides coverage for two or more persons with the death benefit payable at the first death.

Option B - Income Protection Under this option, the Death Benefit shall be payable as Monthly Income (payouts made each month) to your nominee during the payout period as chosen by you at inception of policy.

Endowment policy: A life insurance policy in which the cash value and face value are equal to each other at the policy's maturity date; a policy under which the face amount is payable on a specified future date (maturity date) if the insured is then living, or at the insured's death, if that should occur sooner.

Suicide Exclusions: If the Life Assured commits suicide within 12 months from the policy commencement date or revival date, whether sane or insane at that time, the Company will limit the Death Benefit to the Fund Value and no insurance benefit will be payable.

Joint Life Annuity for life with return of premium (ROP) payable on the death of the last survivor, which enables the annuitants to receive a pre-decided, fixed, guaranteed amount, provided at least one of the annuitants is alive.