Sentences with phrase «specific death benefit amount»

It expires at a certain age or after a certain period of time (say, 30 years), and provides a specific death benefit amount to your loved ones if you pass away before the term ends.

Your choices include choosing between the amount equivalent to the cash value or a combination of a specific death benefit amount plus the cash value.

Not exact matches

Some life insurance may offer death benefit options, including: a specific benefit that does not vary; a face amount plus the policy value; or the face amount plus premiums paid less withdrawals and loans.

If so, I use a specific fixed indexed annuity that offers a contractual 4 % annual compounding death benefit to offset the annual RMD withdrawal amount.

Which means we make consider a specific face amount should be enough but in reality that number could change real easy due to inflation and additional liabilities requiring more life insurance in the form of a higher death benefit.

Term insurance is the least expensive way to purchase a substantial death benefit on a coverage amount per premium dollar basis over a specific period of time.

With the accelerated death benefit, if you are diagnosed terminally ill then your life insurance policy will pay out 25 % up to 80 % of the face amount depending on the specific carrier and the face amount of your policy.

The death benefit amount is paid out subject to specific restrictions with the first couple of years, often called the contestability period.

They may be insuring your future retirement income by providing a guaranteed withdrawal benefit rider, or insuring a specific amount of death benefit to go to your heirs, or insuring a minimum return.

First, the basics of how term life insurance works: You buy a term life insurance policy for a death benefit of a specific dollar amount and a specific length of time — the term.

Our life insurance death benefit calculator will help determine the best face amount for your specific needs.

After a specific amount of time, that money can be used to pay premiums, used as a loan or as added death benefits for your beneficiaries.

Since those insured by whole life never have to requalify, they can count on a specific amount of death benefit for their survivors at a premium that never changes.

As a rider you can attach to a life insurance policy, the Guaranteed Insurability option allows you to increase the coverage amount on specific dates or to choose an entirely new policy based on your original life insurance health rate class.You will be limited on how much you can get, but typically the maximum amount will be twice your original death benefit, up to $ 125,000.

The portion of death benefits that can be claimed may be «capped» at a specific amount and is available before you actually die.

As the name implies, if you choose a specific income policy settlement option, you will receive an equal dollar amount of income each year until all of the proceeds from the policy's death benefit have been paid out.

Additionally, it offers flexibility in two important ways: the death benefit and premium payments.1 Once you determine the amount of coverage you desire, we can modify the death benefit and premium payments to fit your specific objectives.

Because whole life insurance policies are complicated and the premiums are high for the amount of death benefit you get, whole life insurance is only the best option for seniors in a few situations, such as when you want to minimize estate taxes for your heirs, or if you want to leave a specific amount of money to someone or a charity no matter how old you are when you die.

You might be more familiar with a person being insured for a specific amount, and that is exactly what the death benefit is: the amount for which you are insured.

The amount of death benefit needed is very specific to each individual situation, and we advise that you always consult with a financial planner when determining specific needs.

If you do decide to allocate your death benefit to several individuals, we recommend you designate a percentage of the life insurance proceeds to each individual rather than a specific amount.

However, carriers limit the death benefit to less than $ 100,000, and only pay out the full amount if you outlive a specific waiting period detailed in the contract (usually 1 or 2 years).

You pay the same amount of premium for a specific period to receive the death benefit.

The insurance policy will function just like a term life insurance policy because it will last a specific number of years and the whole premium payment will cover the death benefit amount.

Ask the life insurance company to give you a quote based on a specific premium amount and a stated death benefit.

With interest only, the death benefit is held in a trust and only the interest is paid to beneficiaries for a specific amount of time.

In addition to these carrier specific limitations, the vast majority of life insurance companies will not allow you to decrease your policy's face amount, which is also known as the death benefit, to less than $ 100,000.

If you pick this type of life insurance policy, you are agreeing to pay a certain amount in premiums on a regular basis for a specific death benefit.

Some of these lending firms are very specific in the death benefit amounts they will cover, so this solution may not be an option for everyone.

It's simple — You pay the insurance company a monthly or annual premium for a set amount of life insurance for a specific period of time, and the insurer agrees to pay out a death benefit to your beneficiary (you choose) upon your passing.