Sentences with phrase «receive death benefits»

This is typical in cases of acute or terminal illness: As their medical debts pile up, beneficiaries often can not wait to receive death benefits.

If one of the insured passes away before the 20 - year term expires, the surviving spouse will be able to file a claim and receive the death benefits in one lump sum.

If you pass away during this period of time, the person or people who you have named as beneficiaries on this policy may receive death benefits.

This specifically states a defined period of time that the primary beneficiary must outlive the insured to receive the death benefits and is usually a period of 10 to 30 days after the death of the insured.

If you both have insurance policies on him and he were to pass away, you both would receive death benefits.

Beneficiary: The person named in the policy to receive the death benefits at the death of the insured.

If you have committed suicide within two years of your policy beginning, your beneficiaries will not receive any death benefits.

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.

For their beneficiaries to receive death benefits, traditional term life insurance policyholders must die within the specified term of their policy.

The beneficiary who will receive death benefits as long as he / she is alive when the insured dies.

The person you choose to receive the death benefits of your life insurance policy is the beneficiary.

In certain situations, other persons may be able to receive Death Benefits.

In cases in which an employee dies as a result of a work injury, the deceased worker's family may be able to receive death benefits.

For example, if one spouse were to die before a financial agreement were reached, being divorced will affect the surviving spouse's entitlement to receive death benefits from the pension.

The policy will then remain in force, and the buyer will make the payments for you and receive the death benefits when you pass away.

With a term life plan, though, your beneficiaries won't receive death benefits if you die after your term has expired.

If your claim fulfills the terms of the policy, your beneficiaries will receive a death benefits that can help replace lost income and pay expenses.

Not only would your beneficiary receive the death benefits, or «face value» of the life insurance policy, but you are also accumulating a «living» benefit — the cash value that accumulates in the saving / investment component of your policy.

Again, your beneficiaries will still receive the death benefits of your policy during the contestability period.

The person, people or organization that will receive death benefits when the insured dies.

A) Both policyowners would need to pay extremely high premiums to make up for the money the life insurance company would lose in death benefit payouts, or B) the life insurance company would go bankrupt with both policyowners paying such low premiums and then no families would receive death benefits.

If you pass away during the specified term of the policy, your designated beneficiary will receive the death benefits from your policy.

So, whether you pass away immediately after purchasing coverage or 50 years later, your beneficiaries would receive a death benefit.

Whether you eventually need long term care services or your beneficiaries receive the death benefit, you can feel confident with protection that lasts a lifetime.

If you die within the term, your beneficiaries receive the death benefit amount to help replace your income.

With term and permanent life insurance, you make premium payments so that in the event of your passing, your loved ones and beneficiaries will receive the death benefit proceeds from the policy.

One of the key differences to understand is that while you can purchase much more term life insurance than permanent insurance for your money, if you don't die during the term, your favorite charity won't receive any death benefit.

However, this means that if something happens down the line that causes the owner of a policy to not want their initial beneficiary to receive their death benefit (such as divorce), it'll still go to the beneficiary they chose during their application.

This product is used to ensure the family always will receive a death benefit and is done at the lowest cost to the owner of the contract.

That means, if you were to die before the end of the term, your beneficiaries would receive the death benefit.

If your beneficiary chooses to receive the death benefit as an annuity, that means he or she wants to divide up the payments across a number of years of his or her choosing.

The third party receives the death benefit if you pass away while the coverage remains in force.

Your beneficiary can choose to receive the death benefit as an annuity, which is like receiving an income every year.

Lastly, your beneficiary will no longer receive the death benefit.

But you may want to choose to receive the death benefit as an annuity if you have fewer expenses, such as when you're older and retired.

Another option is to receive the death benefit as an annuity.

Aside from the obvious value of receiving a large amount of cash as a lump sum, there are some risks with choosing an annuity to receive the death benefit.

If the policyholder outlives the term of the policy, however, the beneficiary will not receive a death benefit.

In case of an unfortunate event of death, Rahul's nominee will receive Death Benefit as applicable under the Base Plan & will additionally receive Rs. 500,000 as a part of the Rider's Death Benefit.

With permanent life insurance your beneficiaries are guaranteed to receive a death benefit when you die.

So, whether you pass away immediately after purchasing coverage or 50 years later, your beneficiaries would receive a death benefit.

With this coverage, you receive a death benefit if your child dies while your policy is in force.

A different way to receive the death benefit is with a family income life insurance policy — one that treats the death benefit like an income stream instead of a lottery prize.

• Life insurance claims are filed when an insured person dies so his or her beneficiary receives the death benefit payout.

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

may be receiving a death benefit income stream and are looking to transfer super to the retirement phase

You want to know that it will be around for many years so when it's time for your loved ones are to receive the death benefit, they have no issues.

And, just in case, your beneficiary is the person you designate to receive the death benefit.

Your beneficiary receives a death benefit if you die, but if you live out your policy then the insurance