Sentences with phrase «payments upon their death»

For a small / regular premium, people could assure themselves of an increasingly valuable financial asset which transforms into a large lump - sum payment upon death.

Beneficiary A beneficiary is the person (s) selected by the policy owner to receive the life insurance payments upon the death of the insured.

John and Margaret each purchased a $ 25,000 whole life final expense life insurance policy to pay for their funeral expenses and 12 months of their mortgage payments upon their death.

His $ 10,000 was to be used to pay their mortgage payments upon their death for one year.

Under the terms of a life insurance policy, the insurer will generally make a payment upon the death of the insured.

A beneficiary is the person (s) selected by the policy owner to receive the life insurance payments upon the death of the insured.

The beneficiary receives the death benefit or any remaining annuity payments upon the death of the owner.

Term life insurance would provide a lump sum payment upon your death which is usually free of income taxes or you may decide to have an income paid to your loved ones.

Not exact matches

The employment agreements also provide for certain payments to the executives upon death or «disability.»

The contract said that the payments would stop upon her death, at which point she would be carried out and Raffray could move in.

A district school board may establish policies to provide for a lump - sum payment for accrued vacation leave to an employee of the district school board upon termination of employment or upon retirement, or to the employee's beneficiary if service is terminated by death.

Terms for private loans are much more stringent and may be less forgiving if you chance upon unexpected problems or issues that may occur down the road (such as disability, death or any other disruption of your payment schedule due to unforeseen circumstances).

An option / rider that refunds premiums paid into an annuity less cumulative income payments made, upon the death of the annuitant.

Life insurance classified as return of premium (ROP) features a return of premiums paid to purchase coverage if the insured outlives the term of the policy, or payment of some portion of premiums paid to the beneficiary upon the insured's death.

The Legalese «The Acceleration of Death Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rDeath Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rdeath benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rdeath of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.»

(o) If there is no person who would be entitled, upon application therefor, to an annuity under section 2 of the Railroad Retirement Act of 1974 [98], or to a lump - sum payment under section 6 (b) of such Act, with respect to the death of an employee (as defined in such Act), then, notwithstanding section 210 (a)(9)[99] of this Act, compensation (as defined in such Railroad Retirement Act, but excluding compensation attributable as having been paid during any month on account of military service creditable under section 3 of such Act if wages are deemed to have been paid to such employee during such month under subsection (a) or (e) of section 217 of this Act) of such employee shall constitute remuneration for employment for purposes of determining (A) entitlement to and the amount of any lump — sum death payment under this title on the basis of such employee's wages and self — employment income and (B) entitlement to and the amount of any monthly benefit under this title, for the month in which such employee died or for any month thereafter, on the basis of such wages and self — employment income.

You make payments on the policy and, in return, the insurance company provides a lump - sum payment, also called a death benefit, to the beneficiaries you have chosen upon the death of the insured.

If a policy of insurance has been or shall be effected by any person on his own life or upon the life of another person, the policyowner shall be entitled to any accelerated payments of the death benefit or accelerated payment of a special surrender value permitted under such policy as against the creditors, personal representatives, trustees in bankruptcy and receivers in state and federal courts of the policyowner.

With the cash refund payout option (also known as the death benefit), you are guaranteed that any principal (premium paid into the contract) not yet returned through income payments will be returned to your beneficiary upon your passing.

Death benefit payments are dependent upon the claims - paying ability of New York Life Insurance and Annuity Company.

Life insurance provides a tax - free cash payment to your named beneficiaries (such as your spouse or children) upon your death.

Even the death of a former spouse may not stop the payments if your decree states that his / her benefit will continue to be paid to the court or the estate or children upon your former spouse's death.

Lenders will be more inclined to approve your loan if you assign a term life insurance policy to guarantee payment even upon death.

is a request for payment by the beneficiary for the amount promised as death benefit upon the insured

For example, payment amounts typically are reduced if an annuity has a survivor feature that provides benefits to a beneficiary upon the participant's death.

The person you've chosen to have the first right to receive insurance payments or proceeds upon your death.

Upon successfully proving negligence by a motor vehicle driver in a bicycle accident, you may be able to recover payment for all related medical and hospital bills and expenses — including bills for doctor visits, physical therapy, and surgery — as well as compensation for lost wages, pain and suffering, mental anguish, emotional distress, lost earning capacity, permanent impairment, and wrongful death.

Upon her partner's death, Ms McLaughlin claimed Bereavement Payment and Widowed Parent's Allowance, but was refused both benefits by the DSD because she was neither married to nor a civil partner of Mr Adams at the date of his death.

This benefit allows the owner to receive payment of a portion of the death benefits under the policy upon terminal illness of the insured.

Lump - sum payments do not accrue interest: A $ 200,000 policy will pay out exactly $ 200,000 upon the death of the insured party.

Upon their death, payments terminate and the insurer keeps any balance that remains.

Upon your death, this feature allows you to set up your policy so that your family or beneficiary will receive monthly payments, rather than a lump sum.

Pure Endowment A life insurance contract that provides payment only upon survival of the insured to a certain date and not in the event of that person's prior death.

A policy owner receives a cash payment, while the purchaser of the policy assumes all future premium payments and receives the death benefit upon the death of the insured.

This benefit allows the owner to receive payment of a portion of the death benefits under the policy upon chronic illness of the insured.

In exchange for paying premiums on a policy, the insurance company provides a lump - sum payment (far in excess of what you paid in), known as a death benefit, to beneficiaries upon the insured's death.

In addition, unless the annuity contract specifies a beneficiary, most annuity payments cease upon the death of the recipient.

A death benefit is a payment to the beneficiary on an annuity, pension, or life insurance policy upon the death of the annuitant or policyholder.

It comes in two basic flavors: «immediate death benefit» plans, which provide full benefits to your loved ones upon your death no matter how long you've owned the policy, and «graded benefit» plans, which offer partial payments if you've held the policy for less than two or three years and provide full payment if you've held it longer.

LTCSO allows the owner of the AAFMAA policy the option of converting the death benefit on an eligible insured life — normally payable only upon the death of the insured — into regular periodic payments prior to death, specifically to defray the cost of nursing home, custodial or home health care for the insured.

Life insurance is a contract where, in exchange for premium payments, a lump sum of money is paid upon the death of the insured person.

If you do have a mortgage that you would like to be paid off, paid down, have payments made, or have your equity in your home protected upon death, then mortgage protection is a perfect solution for you and your loved ones.

Life insurance is a type of insurance in which you pay a certain amount (premium payments) to a life insurance company and in exchange they agree to pay a lump - sum payment (the death benefit) to your beneficiaries upon your death.

The policy is terminated upon the earliest of the following: on payment of the Surrender Benefit, or Death Benefit or Maturity Benefit.

The Legalese «The Acceleration of Death Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rDeath Benefit Rider provides payment of all, or a portion of the death benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rdeath benefit, of the amount that would normally be paid to the beneficiaries upon the death of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.&rdeath of the insured, while the insured is alive if they are determined to be terminally ill with 12 months (24 months in some states) or less to live.»

But many annuities reduce this risk by offering a death benefit, such as a return of some or the entire principal to your heirs upon death if you haven't started receiving income payments yet.5 Even if you have started receiving payments but the payments haven't reached the amount of premium you paid, your heirs may receive a refund of the unused premium.

Since most AD&D payments usually mirror the face value of the original life insurance policy, the beneficiary receives a benefit twice the amount of the life insurance policy's face value upon the accidental death of the insured.

Otherwise, in particular if payments end upon the beneficiary's death, it is called a life annuity.

The single life annuity payment option typically provides the largest payment amount, but has the most risk since payments cease upon the annuitant's death.

Most annuity payments cease upon the death of the annuitant (this is what makes them different from regular life insurance policies, which generally make a payment to a beneficiary upon the death of the insured).