Sentences with phrase «proceeds as a lump»

Reverse mortgage borrowers can opt to receive their loan proceeds as a lump sum, as a line of credit, or in ongoing installments.

With a fixed - rate reverse mortgage, you need to take your loan proceeds as a lump sum.

Your beneficiaries will receive the life insurance proceeds as a lump sum payment.

Commuting the maturity proceeds as a lump sum amount to the extent allowed under Income Tax act and balance amount to be utilised to purchase an immediate annuity from Future Generali India Life Insurance Co. Ltd. (FGILICL), which shall be guaranteed for life, at the then prevailing annuity rate.

Take only a part of the maturity proceeds as a lump sum, with the balance as pre-selected periodic installments in yearly, half - yearly, or quarterly mode, over a maximum period of five years

Commuting the proceeds as a lump sum amount to the extent allowed under Income Tax act and utilizing the remaining amount to purchase an Immediate Annuity (guaranteed for life) from Future Generali India Life Insurance Co. Ltd. at the then prevailing annuity rate

Step 3: Here, you need to mention whether you want your family to receive the policy proceeds as a lump sum, or Level / Increasing monthly income or Return of the premium amount at maturity.

You can also specify whether a beneficiary should receive the life insurance proceeds as a lump sum payment or in monthly payments.

Not exact matches

Life insurance proceeds are not taxable with respect to income tax, so long as the proceeds are paid out entirely as a lump sum, one time, payment.

Borrowers may choose how they wish to receive proceeds from a reverse mortgage: as a lump sum, in periodic payments, as a line of credit, or a combination of these options.

Flexible disbursement options — Loan proceeds can be collected as a lump sum (fixed - rate only), a line of credit to be drawn upon as needed2, a monthly payment for a set period of time or as long as you live in the home, or a combination of these options.

Life insurance proceeds are not taxable with respect to income tax, so long as the proceeds are paid out entirely as a lump sum, one time, payment.

If the inherited Roth IRA is less than five years old and the funds are withdrawn in a lump sum than the proceeds will be taxed as ordinary income.

Payment of loan proceeds — The borrower receives the loan money as a line of credit, monthly installments, a combination of both, as a lump sum, or the payment retires an existing mortgage.

Reverse mortgages allow homeowners age 62 and older to convert a portion of their home equity into tax - free loan proceeds, which they can elect to receive either in a single lump sum payment, monthly installments, or through a line of credit that allows funds to be withdrawn as needed.

This is a Fixed Rate product so the proceeds are given as a lump sum only in lieu of the option for a credit line.

Secondly, if your beneficiary is not disciplined financially, receiving a large amount as lump sum payment being the proceeds from your life insurance policy may encourage him to spend the whole money carelessly.

Most often, the life insurance proceeds from the death benefit are paid out as a single lump sum.

With a variable - rate reverse mortgage, you get the option of taking your proceeds as a monthly payment, line of credit, or lump sum.

The proceeds from a reverse mortgage can be paid to you in a lump sum that you can then use as you want.

The loan can be utilized as a line of credit, or proceeds can be taken out monthly or in a lump sum.

The Claimant did not have a breakdown of the total settlement proceeds of $ 365,000 as he was provided a lump sum cheque from ICBC without mention of awards for the specific damages sustained.

If settlement proceeds (taken as a lump sum, a structured settlement or some combination) are placed in a properly drafted supplemental (special) needs trust (SNT), they will not impact the plaintiff's eligibility for ongoing support from government funded programs.

In her decision of February 4, 2013 in Questel v. Questel, Justice Jackman - Brown ruled that the $ 623,040.00 in lump - sum lottery proceeds were not marital property as the winning drawing occurred 7 months after Mr. Questel had commenced his divorce action.

In the majority of cases, a named beneficiary will receive the death benefits as a lump sum payment and these proceeds are not subject to income tax.

The benefits are paid in a lump sum and non-taxable, so beneficiaries are able to use proceeds as they wish.

The life insurance proceeds are paid as a lump sum and are not taxable.

Most life insurance policies pay out the death benefit as a lump sum — although there are other options typically available for receipt of the policy proceeds.

The entire amount of the proceeds paid to you as a lump sum are considered taxable earnings.

Life insurance proceeds are not taxable with respect to income tax, so long as the proceeds are paid out entirely as a lump sum, one time, payment.

Annuity beneficiaries may choose to take the proceeds of the contract as a single lump sum.

Beneficiaries have the option to receive death benefit proceeds either in the form of a lump sum, one - time payment, or as a continuation of monthly or annual annuity payments paid directly to them.

If the beneficiary chooses to take the proceeds as a single lump sum, taxes are due on any portion that has yet to be taxed.

In any event, irrespective of whether the life insurance proceeds are obtained as one lump sum or in an installment option, the primary amount of the proceeds is generally free to the beneficiary of federal income taxation.

As mentioned above you can choose to have the proceeds of the policy paid in one lump sum.

As per DTC (Direct taxes code) the withdrawn lump sum amount is tax exempted but the maturity proceeds from annuity get taxed.

He / she may take the Maturity proceeds either in lump sum or as per the Settlement Option, which provides the flexibility of taking the maturity proceeds in the form of pre-selected periodic instalments (yearly, half - yearly and quarterly only) over a period of five years.

Some term plans in the industry offer an option to distribute the policy proceeds partially as a lump sum pay out and the remaining in the form of monthly income to the family in your absence.

The proceeds could be used to settle outstanding obligations such as a mortgage, plan for any lump sum expenditure such as children's marriage, and creating a corpus for the family.

While there are a number of other payment options that can be chosen by the owner of the policy prior to the death of the insured, in the absence of that choice, policy proceeds are always provided as a lump sum.

This is the hardest and most time consuming part of this project, as the process was proceeding quite slowly and I had to make sure that the tube was being stuffed evenly, without lumps.