Sentences with phrase «portion of the life insurance payout»
While you can leave your entire policy to one person, you can also designate multiple people to receive portions of your life insurance payout.
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It lets you take a portion of the life insurance payout while you're still alive to pay for medical expenses, including long - term care.
Not exact matches
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.
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.
A terminal insurance payout may be a portion or the entirety of the value of the life insurance policy.
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
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.
In addition, a good portion of survey respondents weren't familiar with what a life insurance payout can be used for, and don't own a policy because they know very little about it.
A minimal amount of term insurance premium dollars needs to go toward funding the death benefit of a term life policy, because a significant portion of the premium calculation resides in the payout ratio or probability of loss — death of the insureds.
With insurance products like whole life insurance, the insurance carrier must set aside a significant portion of the paid premiums as a reserve to pay for the future death benefit payout, and that death benefit will be paid if the insured continues to pay premiums until he or she dies while the insurance policy is «In Force».