Sentences with phrase «proceeds upon the death»

The proceeds upon your death, though, avoid estate taxation and are sheltered from creditors.

If your wife and son die before you, your granddaughter, the tertiary beneficiary, would receive the insurance proceeds upon your death.

The person you've chosen to have the first right to receive insurance payments or proceeds upon your death.

There are also products that are guaranteed to pay out proceeds upon death, known as guaranteed universal life, but have little to no cash value after the premium goes in.

A life insurance beneficiary is an individual who receives the policy's benefit proceeds upon the death of the insured.

Permanent life insurance offers an insurance component that pays a stated amount of proceeds upon the death of the insured, while at the same time providing a cash value or investment component that accumulates cash value that the policy holder may withdraw or borrow against.

Beneficiary is the person (s) or entity (ies)(for e.g. corporation, trust etc.) who is named in the policy as the recipient of insurance proceeds upon the death of the insured.

The two main reasons you might not want to change policies are surrender charges (only in permanent plans such as whole life or universal life), and your new policy will likely contain a new two year contestable period, which means the company could potentially weasel out of paying the life insurance proceeds upon your death if you die within 2 years of purchasing the policy and they find that you answered questions fraudulently on your application.

These types of policies offer an insurance component that pays a stated amount of proceeds upon the death of the insured.

Second - to - die life insurance: A life insurance contract which covers two lives and provides for the payment of the proceeds upon the death of the second insured.

Survivorship life insurance: A life insurance contract which covers two lives and provides for the payment of the proceeds upon the death of the second insured.

This type of plan will pay out the death benefit proceeds upon the death of the second insured.

If your wife and son die before you, your granddaughter, the tertiary beneficiary, would receive the insurance proceeds upon your death.

The person or persons named in the life insurance policy that will receive the insurance proceeds upon the death of the insured.

Not exact matches

Upon your death, the trust established for your children may use the proceeds of the insurance to purchase the stock from your estate.

Like any beneficiary, the charity will receive the proceeds of your policy upon your death.

I still kept a round of duties, and would not suffer myself to run into any open vices, and so got along very well in time of health and prosperity, but when I was distressed or threatened by sickness, death, or heavy storms of thunder, my religion would not do, and I found there was something wanting, and would begin to repent my going so much to frolics, but when the distress was over, the devil and my own wicked heart, with the solicitations of my associates, and my fondness for young company, were such strong allurements, I would again give way, and thus I got to be very wild and rude, at the same time kept up my rounds of secret prayer and reading; but God, not willing I should destroy myself, still followed me with his calls, and moved with such power upon my conscience, that I could not satisfy myself with my diversions, and in the midst of my mirth sometimes would have such a sense of my lost and undone condition, that I would wish myself from the company, and after it was over, when I went home, would make many promises that I would attend no more on these frolics, and would beg forgiveness for hours and hours; but when I came to have the temptation again, I would give way: no sooner would I hear the music and drink a glass of wine, but I would find my mind elevated and soon proceed to any sort of merriment or diversion, that I thought was not debauched or openly vicious; but when I returned from my carnal mirth I felt as guilty as ever, and could sometimes not close my eyes for some hours after I had gone to my bed.

If you name the trust as beneficiary at your death, the plan will lose the tax deferment treatment upon the transfer, but the trustee will be able to distribute the plan proceeds according to the terms set out in your living trust.

For example, if you have two beneficiaries slated to split the death benefit, and one of them predeceases you, leaving two heirs behind, upon your death 50 % of the policy's proceeds would go to the living beneficiary and 50 % would be split between the other beneficiary's heirs.

Like any beneficiary, the charity will receive the proceeds of your policy upon your death.

It finally turned to the joint and several liability rule under the Income Tax Act, which says that upon the death of the annuitant of a RRIF, the annuitant (or the annuitant's estate) and any recipient of RRIF proceeds are «jointly and severally liable to pay a part of the annuitant's tax» on the RRIF for the year of the annuitant's death.

Cajon — If you mean naming a spouse or common - law partner as a beneficiary upon death then the answer is yes you can and the proceeds are tax free.

Beneficiary: A person (s) designated by the policy owner to receive the proceeds of an insurance policy upon the death of the insured.

The death benefit proceeds are payable upon the second death.

Proceeds: The amount payable under the terms of a life insurance policy upon the insured's death or upon the maturity of an endowment.

Now, if you passed away, the death benefit would be distributed based upon who was still alive and able to claim the proceeds:

Upon your death, the life insurance proceeds are used to repay any outstanding loans.

The proceeds or benefit that is payable to the beneficiary of a life insurance contract upon the death of the insured.

Points do not constitute property of any person and may not be brokered, bartered, attached, pledged, gifted, sold, or transferred upon disability, death, upon operation of law, or in connection with any domestic relations dispute and / or other legal proceeding.

Life insurance is based in contract law, and the proceeds pass by operation of law upon the insured's death.

In North Carolina the wrongful death proceeds are distributed based upon intestate succession and never become a part of the estate.

Your beneficiary receives the proceeds of your life insurance policy upon your death.

In many ways, Final expense insurance works like any other type of life insurance policy in that a premium is paid for the coverage, and then upon the insured's death, the proceeds are paid out to a named beneficiary.

Beneficiary: A person (s) designated by the policy owner to receive the proceeds of an insurance policy upon the death of the insured.

Upon the death of the insured, the beneficiary will receive the proceeds of the life insurance taxfree.

If proceeds are payable upon the second death, it is called survivorship insurance.

However, it is important to note that any amount of the balance that is not repaid will be charged against the death benefit proceeds that are ultimately paid out to the beneficiary upon death.

Death Benefit Life insurance policy proceeds payable to the beneficiary upon proof of the insured's dDeath Benefit Life insurance policy proceeds payable to the beneficiary upon proof of the insured's deathdeath.

At the same time, it gives coverage for the insured party's family, which means that beneficiaries will receive proceeds from the insurance claim upon death of the policy holder.

Upon your death, in most states, the proceeds can pass to your beneficiaries free of any claims of your creditors.

Upon your death, the proceeds of your policy will be paid to the named beneficiaries that are listed on your contract.

Upon death, the proceeds from the policy will be contributed to the charity as a charitable gift.

Life insurance proceeds are available almost immediately upon your death and can help you avert this situation.

A life insurance policy beneficiary is the person or the entity that will receive the policy's death benefit proceeds upon the passing of the insured.

In doing so, the owner of a life insurance policy is required to name a beneficiary — or beneficiaries — who will receive the insurance policy proceeds upon the individual's death.

Upon the death of the insured, the third party receives the proceeds of the life insurance policy from the insurer.

There have been cases where a beneficiary has been deemed to not have an insurable interest and the life insurance proceeds went to a different party than the beneficiary listed upon the death of the insured.

You see, in doing so, your life insurance proceeds will flow, first to your spouse, and then into your trust upon your death if your spouse predeceased you.

Like any beneficiary, the charity will receive the proceeds of your policy upon your death.

A nominee is the person designated by the policyholder to receive the proceeds of an insurance policy, upon the death of the insured.