Sentences with phrase «still pay the death benefit to your beneficiaries»

During this time, life insurance companies must still pay the death benefit to your beneficiaries should you pass away.

Not exact matches

However, the primary purpose of these policies is still to pay out a death benefit to your beneficiaries when you pass away, and this benefit makes up a significant portion of the cost of buying a policy.

In cases where there are multiple beneficiaries, the insurer will split the death benefit according to the instructions you've left in your contract, but otherwise still pay each recipient a lump sum.

This rider lets the policy owner take part of the death benefit to pay for nursing home care and home health care of the insured person, while still leaving at least a partial death benefit to the beneficiaries.

So, even if the entire death benefit is advanced due to long term care needs, the policy will still pay a lump sum death benefit to your beneficiary when you die.

The original death benefit will still be paid out income tax free and the additional amount paid out to your beneficiary will be reported as interest income.

The policy will still pay out a death benefit to your beneficiaries when you die, but over time this death benefit is gradually replaced by the cash value.

The policy will still pay out a death benefit to your beneficiaries when you die, but over time this death benefit is gradually replaced by the cash value.

Life insurance is typically pretty straightforward: you pay for a policy, and if you die while that policy is still in force, the death benefit goes to your named beneficiary.

If at 85 you bought a life insurance policy and died at 94, years removed from the first 2 years of policy activation, your beneficiaries will still have to wait a year probationary period before being paid death benefit.

However, if the insured were to pass away while there is still a cash balance due; the amount of unpaid cash will be subtracted from the death benefit proceeds that are paid out to the policy's beneficiary.

Even if the policyholder dies within the window of policy coverage, your beneficiaries may still have to wait a probationary period of 1 to 3 years before death benefits are paid out.

By purchasing life insurance, you gain the assurance that your insurer will pay a death benefit to your named beneficiaries upon your death (as long as your policy is still in force at that time).

This rider lets the policy owner take part of the death benefit to pay for nursing home care and home health care of the insured person, while still leaving at least a partial death benefit to the beneficiaries.

And any remaining death benefit will still be paid to the beneficiary.

It is important to note here, though, that even though a life insurance policy loan is not required to be repaid, if the insured dies while there is still a balance outstanding, the amount of this balance — plus interest — will be subtracted from the total amount of death benefit proceeds that are paid out to the beneficiary.

The original death benefit will still be paid out income tax free and the additional amount paid out to your beneficiary will be reported as interest income.

This means the beneficiary would still receive a death benefit, and for qualifying policies, cash value would continue to grow, and dividends would still be paid out.

So, even if the entire death benefit is advanced due to long term care needs, the policy will still pay a lump sum death benefit to your beneficiary when you die.

Even if paid by a modified endowment contract, a death benefit can still be passed on to beneficiaries tax free, assuming that the normal requirements for a tax free death benefit under life insurance rules are met.

These give the policy flexibility in the later year if you want to stop making premium payments, but keep the policy in force so it will still pay out the death benefit to your beneficiaries.

However, the primary purpose of these policies is still to pay out a death benefit to your beneficiaries when you pass away, and this benefit makes up a significant portion of the cost of buying a policy.

A person may choose to become a viator if he is diagnosed with an incurable illness and determines his beneficiaries no longer need the death benefit of his policy, and that he can put the money to better use while still alive, such as paying for medical treatments.

There is also a death benefit paid to beneficiaries and a low - risk cash value can be withdrawn from the account while the holder is still alive.

If you're still alive when that term is over, you don't have to pay your premiums anymore, but there will be no death benefit for your beneficiaries.