Sentences with phrase «set lump sum of money»

Furthermore, conventional life insurance pays out a set lump sum of money upon death.

Not exact matches

You purchase the contract for a specific amount of money, either through a lump sum or periodic payments, and in exchange, the insurer agrees to pay you a set amount on a recurring basis.

We believe that, as well as the obvious benefit of a tax - free lump sum when your baby grows to age 18, saving for your child helps to educate them about the importance of money and preparing for their future, helping to set up positive habits from a young age.

Personal loans are fixed: You receive a lump sum of money, and you must pay it off in installments by a set date, usually a few years.

You set aside regular amounts of money or a lump sum payment for your funeral.

To make that lump sum payment, the program asks that you set aside a specific amount of money every month in savings.

Term life insurance is a kind of life insurance policy that covers you for a set period of time — not your whole life — and pays out a lump sum of money to your beneficiaries if you die while the policy is in effect.

In short you hand over a lump - sum amount of money to an insurance company and they pay you a set amount of money every month for the rest of your life.

When you buy an annuity, you deposit a lump sum of money, and the insurance company agrees to pay you a guaranteed income for a set period of time — or for the rest of your life.

Annuities are often used as a retirement planning tool primarily because they can allow you to turn a lump sum of money into a steady income stream for a set number of years, or even the rest of your life.