Sentences with phrase «policy death benefit when»

And, if you get caught lying about smoking, any claim on your life insurance policy death benefit when you die may be contested by the insurance company if smoking is the cause of your death.

Not exact matches

When it is time for either college or retirement, the policy holder can borrow money from the cash value and pay it back with the death benefit when they When it is time for either college or retirement, the policy holder can borrow money from the cash value and pay it back with the death benefit when they when they die.

Such policies also pay out a death benefit to your heirs when you die, but they are far more expensive than term life.

It's designed to reach the size of the death benefit when the policy matures (typically, when you turn 100).

Whole life insurance policies are usually structured to mature when you turn 100 years old, at which point the cash value should equal the death benefit.

When a death benefit is paid depends on the structure of the policy:

This Act mandated that insurers provide written notice to policyowners, if an insured is 60 or older or is known by the insurer to be terminally or chronically ill, and if a policy owner requests to surrender the policy, request an accelerated death benefit under the policy, or when an insurer sends notice to the owner that the policy may lapse, that there are options to lapse or surrender available to them.

This made it possible for insured individuals to use a portion of their policy's death benefit when it was needed most without selling it off at a discount.

When the policy term concludes, the death benefit ends.

When you purchase term life insurance, you agree to pay recurring premiums in return for the commitment by the insurance company to pay a death benefit if the insured happens to die during the term that the insurance policy is in effect.

When you comparison shop, the death benefit amount that your loved ones would receive and the cost of the policy are the most important factors to consider.

However, when a shareholder dies and the death benefit is paid to a C corporation, the corporation's exposure to the alternative minimum tax (AMT) is increased to the extent that the death benefit exceeds the corporation's basis in the policy.

Among them are the rights to: bullet joint parenting; bullet joint adoption; bullet joint foster care, custody, and visitation (including non-biological parents); bullet status as next - of - kin for hospital visits and medical decisions where one partner is too ill to be competent; bullet joint insurance policies for home, auto and health; bullet dissolution and divorce protections such as community property and child support; bullet immigration and residency for partners from other countries; bullet inheritance automatically in the absence of a will; bullet joint leases with automatic renewal rights in the event one partner dies or leaves the house or apartment; bullet inheritance of jointly - owned real and personal property through the right of survivorship (which avoids the time and expense and taxes in probate); bullet benefits such as annuities, pension plans, Social Security, and Medicare; bullet spousal exemptions to property tax increases upon the death of one partner who is a co-owner of the home; bullet veterans» discounts on medical care, education, and home loans; joint filing of tax returns; bullet joint filing of customs claims when traveling; bullet wrongful death benefits for a surviving partner and children; bullet bereavement or sick leave to care for a partner or child; bullet decision - making power with respect to whether a deceased partner will be cremated or not and where to bury him or her; bullet crime victims» recovery benefits; bullet loss of consortium tort benefits; bullet domestic violence protection orders; bullet judicial protections and evidentiary immunity; bullet and more...

Mr Osborne told the party faithful in 2007 when he announced the policy that the inheritance tax change would benefit nine million families and ensure «only millionaires pay death duties».

In a nutshell, while most whole life insurance is fixated on maximizing the death benefit of a policy and just allowing cash values to grow over time, strategic self banking focuses on maximizing life insurance cash values, so the whole life insurance plan can be used strategically as a savings and personal financing vehicle for the purpose of recapturing your cost of capital incurred when having to deal with third party lenders or using your own cash.

Naturally, a policy buyer would prefer the insured to be elderly, in poor health, with a policy that has low cash value and a high death benefit, because all of these factors might increase the buyer's yield - to - maturity on the policy when you die.

If you have a life insurance policy, and you've been keeping up with your premiums, your insurer will pay out a death benefit when you die.

The lone exception is when the policy has an accelerated death benefits feature, and the owner has a terminal illness.

Make sure the policy you choose has the coverage you need in terms of level premiums, death benefits and cash value when it matures.

However, since you are no longer the owner of the policy, you won't receive a tax credit when the death benefit is eventually paid.

The premiums are incredibly high and increase over time (in contrast to «level term» policies, «level benefit» means the death benefit stays the same while rates rise), and coverage ends when you turn 80.

When a death benefit is paid depends on the structure of the policy:

So that when that inevitable day arrives, your policy has grown as you aged, allowing your beneficiary to receive a death benefit that has (hopefully) kept up with the pace of inflation.

When you purchase term life insurance, you agree to pay recurring premiums in return for the commitment by the insurance company to pay a death benefit if the insured happens to die during the term that the insurance policy is in effect.

When you purchase a term policy, you can name specific beneficiaries to receive the death benefit if you pass away.

And chances are, you are more likely to live longer, so a policy that maximizes your death benefit when you die may be the better option.

If no long - term care benefits are paid, then the policy pays out the full death benefit when the insured person dies.

The second instance is when a policy incurs a material change, such as a reduction to the death benefit, which may or may not cause the policy to MEC.

In contrast to term insurance, a whole life insurance policy pays the death benefit stipulated in the contract upon the death of the insured, regardless of when it may occur.

Such policies terminate when the death benefit falls to zero.

One last point, when we design a strategic banking policy, we use term insurance to help lower the premium and increase the initial death benefit.

When shopping for term life insurance, the key policy features which will impact premiums are the term length and death benefit.

The death benefit from the policy becomes available upon the second death when estate tax and estate

When the savings component of the insurance policy is separated from the death benefit, the risk is transferred to the policy holder.

Generally, term policies never pay a death benefit because they expire prior to death, and insurance companies know this when they issue these inexpensive policies.

This GUL policy often has one of the lowest premiums in the marketplace, making it an excellent choice when you are looking for permanent death benefit protection vs cash value accumulation.

When a loved one passes away, the insured's life insurance policy can provide a death benefit that helps family members to pay for medical payments, end - of - life expenses and funeral costs.

When purchasing life insurance coverage, it is important to determine what type of policy — as well as how much in death benefit (face amount)-- will be right for you and your survivors.

In exchange for premium payments, a life insurance policy provides a tax - advantaged lump - sum payment, known as a death benefit, to the beneficiaries when the insured passes away.

Let's say you purchase a whole life policy with a $ 1 million death benefit when you're 25 years old.

The person or entity that you name as beneficiary on your life insurance policy contract will receive the death benefit proceeds when you die.

As you can see, when you withdraw or borrow money from the policy's cash value, the insurer will reduce the death benefit accordingly.

However, the primary purpose of these policies is still to pay out a death benefit to your beneficiaries when you pass away, and this benefit makes up a significant portion of the cost of buying a policy.

When you make premium payments on a cash - value life insurance policy, one portion of the payment is allotted to the policy's death benefit (based on your age, health and other underwriting factors).

The difference is that, for first - to - die policies, the death benefit is paid when the first spouse passes away.

As a result, the best whole life insurance rates are not achieved when you compare a cash value focused policy vs a death benefit focused policy.

If you have an outstanding loan on your whole life insurance policy when you die, the death benefit that is paid out to your beneficiary (or beneficiaries) will be reduced by the unpaid amount of..

When you purchase a Return of Premium (ROP) life insurance policy, if you die during the term, your beneficiaries receive the death benefit.

Unless Joe terminates the policy or changes ownership over to Karen, when Karen dies, Joe will still receive the death benefit even though there is no longer overt insurable interest.

This Act mandated that insurers provide written notice to policyowners, if an insured is 60 or older or is known by the insurer to be terminally or chronically ill, and if a policy owner requests to surrender the policy, request an accelerated death benefit under the policy, or when an insurer sends notice to the owner that the policy may lapse, that there are options to lapse or surrender available to them.