Sentences with phrase «payments after their deaths»

Alternatively, if you're healthy and have a long life expectancy, or if you want to make sure your spouse receives the highest monthly payment after your death, delaying might be the best choice.

While this might sound attractive initially, «if terms are not in place, the insurance company stops payments after your death, which could be a large portion of your initial investment,» said Office.

In addition to fixed and variable annuities, there are joint life annuities for partners who want their surviving spouses to continue to receive payments after their deaths.

For example, by choosing a «joint - and - survivor option,» you can assure that a spouse will continue to collect payments after your death.

The downside: The version of a longevity annuity that offers the highest monthly payment provides no payments after your death.

Under both federal and state income tax rules, alimony will be deductible by the payor spouse, and is taxable to the receiving spouse, provided that: (1) the payments are in cash and not in kind; (2) the payments are made incident to divorce or to a separation agreement; (3) the parties have not designated the payments as non-alimony; (4) the parties are not living in the same household; and (5) the payor has no liability for payment after the death of the payee spouse.

In this case, the company ceases to make annuity payments after the death of the policyholder.

Someone who is looking for a low cost term plan with a range of cover options like lumpsum payment after death or staggered monthly payments after death or a combination of the two options can consider buying for this plan.

The six weeks» payment after death (where the deceased person's payment continues for 6 weeks to their spouse or partner who is also getting a weekly welfare payment), the Widowed or Surviving Civil Partner's Grant of $ 6,000 and assistance with funeral costs under Exceptional Needs Payments are unaffected.

Not exact matches

After annuity income payments begin, any death benefit payable will be based on the annuity option you have chosen.

The Church then said that a Christian who had received the sacrament of penance, could by various good works, the saying of particular prayers or doing such pious works as assisting in the building of churches (by a cash payment) achieve release from some part of, sometimes all of, whatever «temporal punishment» he might still be due to undergo after death.

A West Seneca woman has admitted to illegally collecting monthly pension payments for more than 30 years after the death of her mother.

In the event that you die before the end of your subscription period, your estate shall be entitled to a refund of that portion of any payment you made for your subscription which is allocable to the period after your death.

In the event that you die before the end of your subscription period, your estate shall be entitled to a refund of that portion of any payment you had made for your subscription which is allocable to the period after your death.

Even after controlling for total wealth, the security offered by DB plans — those guaranteed monthly payments until death — lead people to retire 1 - 2 years earlier than they would with 401k plans.

If the delay is over a year after the death, the surviving spouse may lose benefits, because CPP only makes back payments for a year.

At the time of retirement, the contributor can also opt for higher payment percentages to the survivor after his death.

footnote ** IRA distributions received before you're age 59 1/2 may not be subject to the 10 % federal penalty tax if the distribution is due to your disability or death; is distributed by a reservist who was ordered or called to active duty after September 11, 2001, for more than 179 days; or is for a first - time home purchase (lifetime maximum: $ 10,000), postsecondary education expenses, substantially equal periodic payments taken under IRS guidelines, certain unreimbursed medical expenses, an IRS levy on the IRA, or health insurance premiums (after you've received at least 12 consecutive weeks of unemployment compensation).

The contract expires after payment of the death claim.

Payment for the face value of the insurance policy or death benefits, which your beneficiary or beneficiaries will receive after you pass away

That probably wouldn't make sense, as you would no longer have access to your $ 1 million for emergencies and such (although in return for a smaller payout some annuities do provide at least some access to principal or allow for payments to continue after death).

Borrower benefits: RISLA offers its borrowers options like loan forgiveness in the case of death or permanent disability, forbearance for up to 12 months for borrowers who go back to school, and co-signer release after 24 months of on - time payments

Payments normally stop after the death of both spouses; however, you may also have the option to transfer the annuity to one or more beneficiaries.

For joint contracts, you can have annuity payments continue for your survivor after your death.

Provides payment to a beneficiary that can be the basis of financial stability and security after the death of the insured.

The additional 10 % tax generally does not apply to payments that are: • Paid after you separate from service during or after the year you reach age 55; • Annuity payments; • Automatic enrollment refunds; • Made as a result of total and permanent disability; * • Made because of death; • Made from a beneficiary participant account; • Made in a year you have deductible medical expenses that exceed 7.5 % of your adjusted gross income; * • Ordered by a domestic relations court; or • Paid as substantially equal payments over your life expectancy.For more info see: https://www.tsp.gov/PDF/formspubs/tsp-780.pdf Enjoy your retirement!

Your beneficiaries receive a tax - free, lump - sum benefit after your death to cover living expenses, mortgage and debt payments, or anything else they need

The principal only becomes available after your death, and the net income payments will not change with changing inflation.

The term «proceeds and avails», in reference to policies of life insurance, includes death benefits, accelerated payments of the death benefit or accelerated payment of a special surrender value, cash surrender and loan values, premiums waived, and dividends, whether used in reduction of premiums or in whatever manner used or applied, except where the debtor has, after issuance of the policy, elected to receive the dividends in cash.

Funds can not include anti-detriment payments as part of a death benefit if the member dies on or after 1 July 2017.

The payments specified in the annuity contract will be paid to you during your retirement (or, in some situations, to your beneficiaries after your death).

In his will, he left the cities of Boston and Philadelphia what essentially amounted to annuities that provided payments well into the future.1 Some of that money was even earmarked to be distributed two hundred years after his death.

This would result in a lower monthly retirement payment than the single annuity option, but your spouse would continue to receive a portion of your retirement income after your death.

You should make this payment as soon as possible after the member's death.

A superannuation death benefit is a payment you make to a person or to a trustee of a deceased estate after the member had died.

The taxable amount is reduced by any HSA payments for the decedent's qualified medical expenses, if paid within one year after death.

[2] The payment of the superannuation interest after the member's death is called a superannuation death benefit.

Payments sent by direct deposit after the date of death or ineligibility of a beneficiary (except for salary payments) must be returned to the federalPayments sent by direct deposit after the date of death or ineligibility of a beneficiary (except for salary payments) must be returned to the federalpayments) must be returned to the federal agency.

The type of annuity affects the amount of the payment and how much, if anything, a beneficiary will receive after a participant's death.

And if a man helps to raise an illegitimate child, or a step - child, with regular maintenance payments, there could be grounds for contesting a will that does not provide for the child after his death.

Ensure that if the terms of the court order or contract require it, sufficient provision is made in the will for the making of support payments after the testator's death.

(2) Notwithstanding anything in this Act, but subject to subsections (2.1) and (2.2), an application for a benefit, other than a death benefit, that would have been payable in respect of a month to a deceased person who, prior to the person's death, would have been entitled on approval of an application to payment of that benefit under this Act may be approved in respect of that month only if it is made within 12 months after the death of that person by the estate, the representative or heir of that person or by any person that may be prescribed by regulation.

On the other hand, the injured elderly person can have a settlement structured so that his or her grandchildren or other beneficiaries will receive guaranteed settlement payments after his or her death.

But in many cases compensation will be financially essential for the family to make ends meet after the death, and we will try to understand the needs of the family and to secure an early interim payment where possible.

Annuity of whole life along with an option of transferring 50 % payment made to spouse after the death of policy holder.

If the surviving spouse's death is after the required beginning date for the surviving spouse, then the return of premium payment is treated as a required minimum distribution for the year in which it is paid and is not eligible for rollover.

In the event that the Insured dies after a written request for an accelerated death benefit is submitted but before payment is made and we receive written notice at our home office of this death, the request for an accelerated death benefit will be considered void and no benefit will be paid under the rider.

Effect on policy: After payment of an accelerated death benefit, the policy face amount will be reduced proportionally to the amount you chose to accelerate.

The rejection feature for suicidal deaths applies here as well as the paid - up feature which offers coverage even after the premium payments end at 95.

If it was then found out after your death, within two years of your application, the insurance company would not be liable to make any payments for your death benefit to your beneficiary.