Sentences with phrase «receive lump sum benefit»

BSLI Surgical Care Rider (UIN: 109B015V03): Under this Rider, if the life insured undergoes any surgery and is hospitalized for a minimum period of 24 years, then he / she is liable to receive a lump sum benefit to cover the expenses incurred.

The premium is Rs. 8353 if he chooses to receive a lump sum benefit, Rs. 7100 for annual income benefit and Rs. 10, 526 for increasing annual income benefit.

You receive a lump sum benefit on maturity and are also eligible for Guaranteed Yearly Additions and Bonuses that further maximize your savings.

At the end of policy term, Nikhil will receive a lump sum benefit of Rs. 1,00,950 (last installment of the Income Benefit along with the Terminal Bonus)

Cardiac Care is a fixed benefit plan that offers a Base Benefit under which you receive lump sum benefit for any of the covered conditions.

Opting for such a plan will ensure the nominees receive a lump sum benefit under the basic cover as well as regular monthly payments.

Recurring payout option also allows the beneficiary to receive a lump sum benefit instead of regular monthly or yearly payouts anytime after the death of the life insured.

Critical Illness Benefits Rider: Receive a lump sum benefit if you are diagnosed as critically ill.

The PLOP allows a member to receive a lump sum benefit payment along with a reduced monthly retirement allowance.

The plan also has a life insurance protection component ensuring that your family receives a lump sum benefit in case of your unfortunate death.

Scenario II: In case of Kamal's unfortunate demise in the sixth policy year, his nominee receives a lump sum benefit of Rs. 3,17,280 and the policy gets terminated.

Benefits like guaranteed additions and bonuses while ensuring that your family receives a lump sum benefit in case of your unfortunate death.

Not exact matches

Instead, she would receive a modest lump sum benefit.

If something were to happen to me, the way the system is right now, without me taking the pension, she would have just received a lump sum payment, not a monthly benefit.»

If you're between your preservation age and 60 years old and receive a lump sum super benefit that includes a taxable component, you must include it in your tax return.

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 death benefit is worth $ 1 million, and you elect to receive an annuity that pays out 6 % per year, you have to wait almost 17 years just to break even with what you'd get from a lump sum.

If you receive one or more super member benefits that are super lump sums in an income year, the LRC amount is reduced for the next income year by the total of the amounts that both:

The indexed capital amounts of benefits previously received, that are used to determine whether the current benefit is to be assessed against the lump sum RBL or pension RBL.

While the updated benefit kicked in on the first of the year, payments won't be made until summertime, when parents will receive a lump sum for the first half of 2015, after which payments will be made monthly.

This rider enables you to receive a lump sum portion of your death benefit to help pay expenses if you become terminally ill or need to live in a nursing home.

Lump - sum benefit In the event of your death, your beneficiaries will receive a tax - free benefit.

Benefits also include the tax deferral derived from receiving income in installments instead of in one large lump sum.

The rules must specify who is entitled to receive the benefits and whether they will be paid as an income stream or lump sum.

If you're a dependant of the deceased, you don't need to pay tax on the taxable component of a death benefit if you receive it as a lump sum.

There are two primary ways that a retiree can receive pension benefits, including accepting ongoing payments through an annuity - style distribution for life, or receiving the cash in one lump sum payment.

You can receive a lump sum payment from your death benefit, on a discounted basis, if you are diagnosed with a specific critical injury, such as a coma, severe brain injury, severe burns and paralysis.

Death Benefit Protection — Your entire accumulated value will be paid to your beneficiaries, who can elect to receive their benefits in a lump sum or series of payments.

Your beneficiaries receive a tax - free, lump - sum benefit after your death to cover living expenses, mortgage and debt payments, or anything else they need

As long as you are within the IRS per diem limit you can receive 2 % or 4 % of the death benefit either monthly or through an annual lump sum payment.

Guaranteed death benefit protection so that your beneficiary receives a lump sum payout when you die.

Additionally, the death benefit of life insurance is not taxed to the trust beneficiary, allowing the beneficiary to receive a large lump sum cash payout.

From 1 July 2017, you will no longer be able to elect to treat your super income stream benefits (that is, the periodic payments you receive) as lump sums for tax purposes.

On the other hand though, since Tom did a File & Suspend at age 66, he could retroactively receive two years» worth of benefits, for a total of $ 48,000 in a lump sum.

Instead of taking the Death Benefit of a life insurance policy all at once as a lump sum, it's also possible to receive the policy's payout in regular installments.

If your beneficiaries elect to receive the death benefit as installments rather than a lump sum, some of that will be taxed.

When a member has unrestricted non-preserved benefits as part of their TRIS, they may partially commute the TRIS and receive a lump sum payment up to the amount of their unrestricted non-preserved benefits.

Non-dependent beneficiaries will only be able to receive super death benefits as a lump sum.

If your beneficiary is a spouse or dependant they may choose to receive your death benefit payment as a pension or a lump sum.

The benefit can be paid in installments or a lump sum, with the beneficiary receiving the balance of the insurance payout after the policyholder's death.

In addition, come July, all families with children — taxable or not — will receive a lump sum of $ 360 per child under the age of 18 under the newly enhanced Universal Child Care Benefit.

Under taxation law, a person is included in the definition of a death benefit dependant if they receive a super lump sum because the deceased died in the line of duty.

Upon your retirement, you will normally receive your benefit as a lump sum.

The benefits of the SPIA annuity will also include the tax deferral that is derived from receiving income in payments instead of in one large lump sum.

This Guideline applies to an SMSF that receives a superannuation lump sum resulting from the commutation [1] of a death benefit income stream where the commutation occurred in circumstances described in paragraph 16 of this Guideline.

If a participant is eligible to receive a lump sum from a defined benefit plan or PBGC, the participant can transfer all or part of the lump sum into an IRA or other qualified plan.

If there are no dependent children, or none that are eligible for this benefit at the time of death, the beneficiary will receive a lump sum payment of $ 2,500.

If you or a family member traveling on an eligible booking is killed or severely disabled, you (or your dependents) can receive a lump - sum benefit.

The husband signed «Expression of Wish (Nomination of Beneficiaries) Form, saying that «the trustees / scheme administrator has absolute discretion as to which of my beneficiaries receive the lump sum death benefit, I would like this to be paid to the following», where the widow is named with 100 % percent.

The receiving spouse also benefits from lump sum spousal support because he / she can take that money and invest it somewhere or buy a property with it and earn interest on it rather than having to wait each month to get paid or be dependent on his / her ex-spouse.