Sentences with phrase «payments until death»

Joint - life and joint - survivor annuities make payments until the death of one or both of the annuitants respectively.

Accelerated Access Solution: if the insured suffers from a qualifying chronic illness, this life insurance rider will provide monthly payments until the death benefit has been exhausted.

By promising to continue payments until death, income annuities still offer this classic, simple, and crucial protection today.

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.

Not that long ago, both groups were likely to have access to defined benefit pension plans that guaranteed monthly payments until death.

It will cover the total relative loss they suffered, paid through annual payments until their death.

«It will take a few months to set up schemes for paying compensation — particularly for those who will receive regular payments until their deaths — meaning the first payouts will be made next year.»

Not exact matches

If the beneficiary is a minor, another option is an «interest income» payout, which makes guaranteed payments toward the interest on the death benefit for a specified time — for example, until the minor comes of age — at which point the benefit amount becomes available to that beneficiary.

A permanent insurance policy covers you until your death, regardless of age — so long as premium payments are up to date.

@DilipSarwate: In addition what Feral Oink says, an annuity need not keep going until death (e.g., mortgage payments made to you).

If you have nominated a reversionary beneficiary then that person will continue to receive your pension payments until the account runs out and they'll be able to manage the account just as you could before your death.

Annuity payments are received until death and can't be commuted into a lump sum.

Life annuity payments that continue until the death of both annuitants.

The QJSA authorizes the retirement plan to make periodic payments to the participant until his or her death and then make periodic payments to the surviving spouse for his or her remaining life.

(With a joint annuity, payments continue until the death of the second spouse.)

This means in the event of the policy holder's death, a spouse would continue to collect payments until they pass away.

This way you are ensuring that you don't run out of money and would be receiving monthly payments during your retirement until death.

A second to die life insurance policy, also called survivorship life insurance, covers two individuals (usually a married couple) and delays the payment of the death benefit until the second person's death.

From the very beginning, you select whether you want to receive payment until a specific date or until death.

Bob also had a $ 60,000 life insurance policy through his employer that his employer was kind enough to keep making payments on until Bob's death, so Mary would have access to $ 60,000 additional life insurance money.

Single - premium variable life insurance allows you to buy insurance with a single premium (lump sum) payment in return for a guaranteed death benefit that will remain paid - up until you die.

You might save a lot of money on your utilities by going without heating during the winter, until you realize that saving for a mortgage down payment in New England isn't worth freezing to death over.

An annuity can be a single life annuity or a joint life annuity where the payments are guaranteed until the death of the second annuitant.

A guaranteed annuity or life and certain annuity, makes payments for at least a certain number of years (the «period certain»); if the annuitant outlives the specified period certain, annuity payments then continue until the annuitant's death, and if the annuitant dies before the expiration of the period certain, the annuitant's estate or beneficiary is entitled to collect the remaining payments certain.

The phases of an annuity can be combined in the fusion of a retirement savings and retirement payment plan: the annuitant makes regular contributions to the annuity until a certain date and then receives regular payments from it until death.

When payments are made based on joint lives, the payments continue until the death of the second annuitant.

After you reach 70 or 80, the policy may pay for itself by siphoning payments from your premium cash value, reducing death benefit value until the policy cannibalizes itself.

Under this arrangement, you deposit your payment for funeral arrangements into a federally insured bank until your death.

These payments will continue either until the beneficiary's death or a time they set when the claim is made.

A straight life annuity is a retirement income product that pays a benefit until death but forgoes any further beneficiary payments or a death benefit.

A permanent insurance policy covers you until your death, regardless of age — so long as premium payments are up to date.

With a joint - payout pension, your pension checks will be smaller, but if your spouse outlives you, the monthly payments will continue until their death.

This type of term life insurance policy enables your death benefit to be paid out either in a lump sum, or distributed through regular equal payments to your family until the designated term ends.

Even though her policy provides the same coverage as Bob's, her payments are $ 3,000 and she will pay them annually until her death.

Whole Life can be described as «longer term life insurance for a longer period of time (lifetime) as long as monthly, bi-annual, or annual payments are made, and coverage then stays in force until money is no longer paid — or death.»

If the beneficiary is a minor, another option is an «interest income» payout, which makes guaranteed payments toward the interest on the death benefit for a specified time — for example, until the minor comes of age — at which point the benefit amount becomes available to that beneficiary.

They can use the the smaller death benefit to continue to make mortgage payments until they have another plan in place.

At that time, if you're still around, no more premiums (payments) are due, and the policy would stay in force until your death.

A person who is recently bereaved (married, co-habiting and persons in a civil partnership) and is thus parenting alone but who doesn't qualify for a Widow's, Widower's or Surviving Civil Partners Contributory Pension can claim one - parent family payment for up to two years from the date of death of the spouse, cohabitant or civil partner or until their youngest child reaches 18 years of age, whichever is earlier.

A Reverse Mortgage is normally used by elderly individuals who owned their home free and clear that don't want to have a monthly mortgage payment, want their equity out of the home and want to continue living in their home until their death.