Sentences with phrase «policy the payout options»

Depending on the amount of the insurance policy the payout options should be either lump sum, annuitized, fixed monthly payments for a period of time, or left with the insurance company in an interest bearing account with check writing privileges.

Not exact matches

Please check with your state lottery to find out their policy regarding changing the payout option after winning the jackpot.

A terminal illness rider, also known as an accelerated death benefit rider, offers you the option of receiving a percentage of your policy's payout immediately in the case you're diagnosed with a terminal illness.

The payout for the policy with CPI - U rider in this example provides a payout between the 2 % inflation rider and 3 % inflation rider option.

The Guaranteed Annual Payout percentage depends on the Policy term option chosen and is mentioned below.

In case of occurrence of any of listed Critical illness, the Benefit (as chosen during inception) will be payable to you as a lump sum amount, irrespective of the death benefit payout option chosen, subject to policy being in force and all due premiums have been paid.

With hybrid long - term care life insurance policies you get a death benefit payout along with the option to use the policy if you are faced with the need for qualifying long - term care services.

A terminal illness rider, also known as an accelerated death benefit rider, offers you the option of receiving a percentage of your policy's payout immediately in the case you're diagnosed with a terminal illness.

If you are the beneficiary of a life insurance policy, you typically have two options for receiving your payout: in a lump sum or in installments.

Additionally, with an annuity, policy holders have the option of collecting payouts from the annuity over the course of their lifetime, countering the risk that a retiree can outlive his / her income.

Like Max's plan, Kotak's plan also has the option called «Recurring payout» wherein part of the claim is paid on policy holder's death and a fixed monthly / yearly amount is paid for next 15 years to the nominee.

Flexible Payout Option can only be chosen at inception of the policy

Your policy is designed around you, so you can tailor your payout option and other features to meet your unique retirement needs, including leaving a legacy to your loved ones.

Like traditional LTCi plans, hybrid policies offer leveraged payouts, inflation protection, coverage in any setting (like your own home, assisted living or a nursing home) and waiting period options.

Having to choose between payout ranges and deductible options makes the policy confusing and difficult to navigate.

In this scenario, the second option is actually a better choice, because utilizing a second - to - die life insurance policy, called a survivorship policy, allows the cost of insurance to be spread over two lives, not one, reducing the overall risk of an earlier payout by the insurance company.

Each insurer has its own policy coverage restrictions, benefit payouts, and other options.

You might even explore a life settlement option, which will preserve the years of payments you put into the policy and yet give you a cash payout.

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.

For example, a refund of premium (cash back option) if you outlive your term policy, and additional death benefit payouts for death caused by certain types of accidents.

These policies have higher premiums and lower payouts, but they may be the only option for someone with a substance abuse problem and repeat DUI / DWI offenses.

Determined on the basis of chosen premium payment option and chosen plan option i.e. recurring or immediate payout, basic Sum Assured, age, gender, smoking status and policy term

However, we think your money is better spent on getting a more robust policy for unpredictable illnesses and injuries (over a wellness option, we'd choose instead: a higher reimbursement rate, a lower deductible or a higher payout limit).

Transamerica, an A + rated company founded in 1904, offers unique options, with a few of their term life products, such as Living Benefits for early access to death benefits in the case of terminal or chronic illness; Income Protection Options to allow customers to select from a combination of income stream and lump sum payouts for beneficiaries; no required medical exams for policy amounts below $ 250,000; and low, $ 25,000 minimum face amount requiroptions, with a few of their term life products, such as Living Benefits for early access to death benefits in the case of terminal or chronic illness; Income Protection Options to allow customers to select from a combination of income stream and lump sum payouts for beneficiaries; no required medical exams for policy amounts below $ 250,000; and low, $ 25,000 minimum face amount requirOptions to allow customers to select from a combination of income stream and lump sum payouts for beneficiaries; no required medical exams for policy amounts below $ 250,000; and low, $ 25,000 minimum face amount requirements.

Checking their needs and their ICICI Prudential life insurance policy status will help people to understand which payout option works for them

For those of you wondering whether to buy a policy online or through traditional channels, you must note that the online money income plans offer the same payout option as the traditional policies though the cost of the online money income plans may be slightly less due to reduced cost.

The companies offer various customisation options to their online money income policies and generally allow customers to choose between various premium payment and payout options.

Different policies offer different MIP payout options.

Most of the policies such as monthly income plan SBI, LIC monthly income plan or any other money income plan from other insurance companies has different payout options for the insured amount depending on the needs of the nominees.

Your policy is designed around you, so you can tailor your payout option and other features to meet your unique retirement needs, including the opportunity for leaving a legacy.

The default payout option of most policies remains a lump sum, says Richard Reich, President, Intramark Insurance Services, Inc..

A terminal illness rider, also known as an accelerated death benefit rider, offers you the option of receiving a percentage of your policy's payout immediately in the case you're diagnosed with a terminal illness.

Typically a universal life policy will have two options for the death benefit payout which are option A and option B. Option A is your normal fixed death benefit payout without any cash value, usually this is the amount of coverage you got when you first bought the poption A and option B. Option A is your normal fixed death benefit payout without any cash value, usually this is the amount of coverage you got when you first bought the poption B. Option A is your normal fixed death benefit payout without any cash value, usually this is the amount of coverage you got when you first bought the pOption A is your normal fixed death benefit payout without any cash value, usually this is the amount of coverage you got when you first bought the policy.

The monthly payout option states that after the initial, elimination period of 30 - 90 days, benefits are payable at a monthly stated amount for the life of the key man disability policy which is usually 6 - 24 months depending on the company's need.

Depending on the carrier the policy is placed with, you may have different options for receiving your payout.

Under all the plan options, the policy holder receives lumpsum payout on diagnosis of terminal illness.

As you begin discussing policy options with your life insurance company, you'll hash out typical policy choices including payouts and coverage limits, term length, and under what conditions the policy will be paid out.

This is a great option for those who desire to make their life insurance a forced savings account, with the payout upon the end of the policy or when the insured dies.

For example, a refund of premium (money back option) in the event that you outlive your term policy, and additional death benefit payouts for death due to certain kinds of accidents.

Another endorsement — the Income Protection Option (IPO)-- will allow the policy owner to choose a specific form of payout for the policy's death benefit, including either a lump sum at various times or monthly payments to the beneficiary, at the time of policy issue.

Or if he wants to make withdrawals or surrender the policy or if he lives up to maturity wants payout, again whole life could be the best option for them.

Like Max's plan, Kotak's plan also has the option called «Recurring payout» wherein part of the claim is paid on policy holder's death and a fixed monthly / yearly amount is paid for next 15 years to the nominee.

Option B - Income Protection Under this option, the Death Benefit shall be payable as Monthly Income (payouts made each month) to your nominee during the payout period as chosen by you at inception of pOption B - Income Protection Under this option, the Death Benefit shall be payable as Monthly Income (payouts made each month) to your nominee during the payout period as chosen by you at inception of poption, the Death Benefit shall be payable as Monthly Income (payouts made each month) to your nominee during the payout period as chosen by you at inception of policy.

Income Payout option has to be chosen at the inception of policy.

You will have the option to either receive the bonus payouts during the policy term or you can accumulate them under the policy.

Under the Systematic Partial Withdrawal option, on the completion of five policy years, an amount of the Fund Value, at the time of the start of the Systematic Partial Withdrawal, is paid to the policyholder from his / her unit account, as structured and regular payouts.

It is a single premium policy with five different payout options and has four payment modes — yearly, half - yearly, quarterly and monthly.

Aegon Life EduCare Advantage Plan — A participatory child education plan with a limited premium payment option which provides lump sum payouts in the last 4 years of the policy's life.

In case, any of the mentioned Critical Illness occurs, the Benefit is paid to you as a Lump sum amount, as selected during the inception, heedless of the death benefit payout option you choose, subject to the policy being in function and the payment is made for all the due payments.

The pension policy holder may have no option but to adopt a high risk high return approach to ensure the payout is adequate at the retirement age.