Sentences with phrase «payout of your life insurance benefits»

The trust controls the payout of your life insurance benefits upon your death as dictated by the terms you initially agreed upon.

Not exact matches

A term life insurance policy offers coverage for a specified period of time, meaning that if you die during the term of the policy the beneficiary will receive the specified payout (also known as the death benefit or face value of the policy).

All contract guarantees, including optional living and death benefit riders and annuity payout rates, are backed by the claims - paying ability and financial strength of issuing insurance company.

If you have a life insurance policy, a payout of the death benefit is preceded by a claim providing a death certificate.

Death benefit: This is the life insurance payout to beneficiaries in the event of the life insured's death.

With a number of ways to use the money that builds up in the cash value account, such as taking out a life insurance loan or paying insurance premiums, the flexibility these policies offer make them attractive to individuals looking to build up savings while at the same time securing insurance coverage providing leverage in the form of a death benefit payout.

A term life insurance policy offers coverage for a specified period of time, meaning that if you die during the term of the policy the beneficiary will receive the specified payout (also known as the death benefit or face value of the policy).

Usually having to do with terminal illness or catastrophic circumstances, this feature allows access to a portion of a life insurance policy's death benefit, or payout.

Additionally, the death benefit of life insurance is not taxed to the trust beneficiary, allowing the beneficiary to receive a large lump sum cash payout.

For life insurance policies that pay death benefits in the form of a lifetime payout, the portion of the payout that is not subject to tax if the policy has no refund provision or stated time period guarantee which is determined by dividing the amount of the death benefit by the life expectancy of the beneficiary.

Instead of taking the Death Benefit of a life insurance policy all at once as a lump sum, it's also possible to receive the policy's payout in regular installments.

Endowment insurance is typically best used by those who are looking for the combined benefit of both life insurance and potential future payouts, rather than heavily relying on one aspect.

Premium payments are also fixed for the term of the policy, but because a death benefit payout is expected more often than not, premium rates are often higher than with term life insurance.

If he dies as a result of a car accident, his beneficiary would receive the $ 500,000 life insurance benefit plus the $ 1 million accidental death benefit for a total payout of $ 1.5 million.

It's like getting a free life insurance policy; if you pass away before the term ends, the policy will payout 100 % of the benefit.

Decreasing term life insurance is a type of «annual renewable» life insurance whose premiums are typically level, but whose death benefit payout decrease each and every month or year.

The truth, however, is that to ensure the prompt delivery of a life insurance payout, a beneficiary must take initiative in order to receive the policy owner's death benefit.

The Gerber Life College Plan is an individual endowment policy with an adult life insurance benefit that provides a guaranteed payout of $ 10,000 up to $ 150,000 when it matures in 10 to 20 yeLife College Plan is an individual endowment policy with an adult life insurance benefit that provides a guaranteed payout of $ 10,000 up to $ 150,000 when it matures in 10 to 20 yelife insurance benefit that provides a guaranteed payout of $ 10,000 up to $ 150,000 when it matures in 10 to 20 years.

While life insurance policies provide for a single payment of the death benefit, policies may also offer other payout options that are intended to fit your needs and those of your family.

A whole life insurance policy may seem to be more costly, but the benefits of a guaranteed lifetime payout and a cash value may outweigh the difference.

Sometimes referred to as joint life insurance, this type of coverage offers death benefit payout either upon the death of the first insured or the death of the second.

The Future Generali Life Insurance plan offers triple benefits: money back, lumpsum payout and insurance cover until the age of Insurance plan offers triple benefits: money back, lumpsum payout and insurance cover until the age of insurance cover until the age of 80 years.

With the right amount of life insurance, you can have peace of mind knowing that after you're gone, not only will their basic needs be met, but the payout from the death benefit can help pave the way for a brighter future that includes money for college tuition and other educational expenses.

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The cash value aspect of whole life insurance also serves as a forced savings vehicle: Over time the insurer reduces its commitment to cover your death benefit as your cash value grows and eventually becomes big enough to cover the entire death benefit payout.

While mortgage life insurance works in much the same manner as a regular life insurance policy does, with the payout of death benefits upon death of an insured, in many instances, these types of policies will only require a minimal amount of underwriting for approval.

A term life insurance policy offers coverage for a specified period of time, meaning that if you die during the term of the policy the beneficiary will receive the specified payout (also known as the death benefit or face value of the policy).

In addition to higher premiums, insurance companies that issue guaranteed life policies protect themselves against risk in two additional ways: (1) by offering relatively low payouts, and (2) by typically not providing a death benefit during the first two years after issuing the policy (if the policyholder dies during this time, the company issues a refund of premiums instead).

However, the policy does not provide any returns beyond the death benefit (the amount of insurance purchased); the policy has no additional cash value, unlike permanent life insurance policies, which have a savings component, increasing the value of the policy and its eventual payout.

Living Benefits When it comes to life insurance policies, some companies offer a portion of the payout of the death benefit to the person that is dying to help with final expenses

Final expense insurance definition: a small whole life insurance policy ranging from $ 5,000 to $ 25,000 where the primary purpose of the lump sum death benefit payout is to cover burial expenses, such as a grave marker and cemetery plot, and other final expenses, such as any outstanding debts that are not forgivable upon death.

Incontestability Clause definition: makes a death benefit payout from a life insurance company incontestable after a certain period of time has passed, typically two years, regardless of any misrepresentation or concealment.

If you have a life insurance policy, a payout of the death benefit is preceded by a claim providing a death certificate.

Usually having to do with terminal illness or catastrophic circumstances, this feature allows access to a portion of a life insurance policy's death benefit, or payout.

Generally, life insurance death benefits that are paid out to a beneficiary in lump sum are not included as income to the recipient of the life insurance payout.

Instead of taking the Death Benefit of a life insurance policy all at once as a lump sum, it's also possible to receive the policy's payout in regular installments.

Therefore, in this type of plan, the life insurance benefit payout would essentially be doubled if the insured dies as the result of a covered accident.

One of the biggest concerns life insurance buyers have is whether or not their insurance company will payout the full death benefit if they were to suddenly pass away.

Now since these benefits aren't as obvious as the benefits to those who are the beneficiaries of a life insurance policy payout, we've chosen to list just a few them in this article so that we might help make the decision to purchase a life insurance policy on yourself just a bit easier.

This industry standard recommends that the death benefit, or payout amount, of your life insurance policy should be seven to 10 times your annual income.

The term, death benefit and payout details can vary depending on the type of term life insurance plan you choose.

Get maturity payout over a period of 12 years — Get a Total Maturity Benefit which is twice the total premiums paid under the life insurance plan over a period of 12 years.

A cheap term life insurance policy before the discovery of a major health issue will provide your beneficiaries a large death benefit payout at an affordable rate.

Edelweiss Tokio Life - MyLife +: A non-participating, non-linked Term Insurance plan which offers the flexibility to choose the death benefit as a lump sum or monthly payout or a mixture of both.

With a number of ways to use the money that builds up in the cash value account, such as taking out a life insurance loan or paying insurance premiums, the flexibility these policies offer make them attractive to individuals looking to build up savings while at the same time securing insurance coverage providing leverage in the form of a death benefit payout.

Investors buy groups of life insurance policies for more than their current cash value because with a large enough group of policies, they will make money from the death benefit payouts.

Aegon Life offer a range of savings plans that come with the added benefits of insurance, as well as options like money back at regular intervals, a boost in savings, and bonus payouts.

The benefits of a standard life insurance policy are appealing, but there is one factor that not everyone considers, and that is the taxation of your benefit payout.

The death benefit payout of your life insurance is not taxed to your beneficiary.

The death benefit of universal and variable universal life insurance are tied to the success of investments, so the actual death benefit payout may be less than the policyholder planned to leave his or her family if the investments do not yield the anticipated return.