Sentences with phrase «sum death benefit payment»

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CPP Death Benefit The Canada Pension Plan death benefit is a one - time, lump - sum payment to your estate that can help to pay for funeral cDeath Benefit The Canada Pension Plan death benefit is a one - time, lump - sum payment to your estate that can help to pay for funeralBenefit The Canada Pension Plan death benefit is a one - time, lump - sum payment to your estate that can help to pay for funeral cdeath benefit is a one - time, lump - sum payment to your estate that can help to pay for funeralbenefit is a one - time, lump - sum payment to your estate that can help to pay for funeral costs.

At this point, the carrier will give you a lump sum payment equal to your total death benefit and end your policy.

With lump sum payments you'll get the entire death benefit at once.

The tax treatment of both super and death benefits is also affected by whether the benefits are paid as a lump sum or income stream (regular payments).

Whereas, a life insurance contract is an asset that is designed (at least traditionally) to provide a death benefit to one's estate, an annuity is centered around converting a lump sum payment (or series of payments) into a stream of income for a fixed period (usually for life).

You pay a premium (payment) in return for a death benefit (the lump sum that will be paid to your survivors if you die while the policy is in force).

Fixed annuities offer a standard death benefit of a lump sum payment or withdrawals under an income option of the full value of the contract at time of death.

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.

(o) If there is no person who would be entitled, upon application therefor, to an annuity under section 2 of the Railroad Retirement Act of 1974 [98], or to a lump - sum payment under section 6 (b) of such Act, with respect to the death of an employee (as defined in such Act), then, notwithstanding section 210 (a)(9)[99] of this Act, compensation (as defined in such Railroad Retirement Act, but excluding compensation attributable as having been paid during any month on account of military service creditable under section 3 of such Act if wages are deemed to have been paid to such employee during such month under subsection (a) or (e) of section 217 of this Act) of such employee shall constitute remuneration for employment for purposes of determining (A) entitlement to and the amount of any lump — sum death payment under this title on the basis of such employee's wages and self — employment income and (B) entitlement to and the amount of any monthly benefit under this title, for the month in which such employee died or for any month thereafter, on the basis of such wages and self — employment income.

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.

In exchange for premium payments, a life insurance policy provides a tax - advantaged lump - sum payment, known as a death benefit, to the beneficiaries when the insured passes away.

You make payments on the policy and, in return, the insurance company provides a lump - sum payment, also called a death benefit, to the beneficiaries you have chosen upon the death of the insured.

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.

At this point, the carrier will give you a lump sum payment equal to your total death benefit and end your policy.

When death occurs, the death benefit will be paid out to the beneficiary, generally in a lump sum payment.

With one lump sum payment, you will have a paid - up death benefit provided by the issuing insurance company that will allow you to pre-fund specific legacy goals with confidence.

One thing that seniors might consider is a single premium option which is a lump sum payment into a policy in return for a certain amount of death benefit.

Lump sum, where the life insurance company pays the total amount of the benefit in one single payment at the death of the insured

A life insurance policy is simply a contract between a life insurance provider and an individual to provide a lump - sum payment, called a death benefit, in exchange for making premium payments to the provider.

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 payment is only payable where the death benefit is being paid as a lump sum to an eligible dependant of the deceased member, who is either a:

An anti-detriment payment is an additional lump sum amount that may be paid to an eligible dependant when a lump sum death benefit is paid.

The death benefit can be paid out as a lump sum, a monthly payment, or an annuity, although most people ask the insurance company for the lump sum.

The life insurance death benefit is a tax - free lump sum payment - usually.

In this example, the present value of the death benefit exceeded the present value of the premium payments — i.e., the sum total of each year's discounted cash inflows / outflows is positive — and so the policy is sellable.

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.

Because with term insurance, you're generally just paying for the death benefit, the lump sum payment your beneficiaries will receive if you die during the term of the policy.

The Accelerated Living Benefit Rider provides for a single lump sum payment of an accelerated life insurance benefit using a portion of your life insurance certificate's death bBenefit Rider provides for a single lump sum payment of an accelerated life insurance benefit using a portion of your life insurance certificate's death bbenefit using a portion of your life insurance certificate's death benefitbenefit.

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.

Yes, in most instances your named beneficiary will receive a non-taxable lump sum payment on your death benefits.

The death benefit is paid in lump sum or a monthly payment.

You pay a premium (payment) in return for a death benefit (the lump sum that will be paid to your survivors if you die while the policy is in force).

In exchange for paying premiums on a policy, the insurance company provides a lump - sum payment (far in excess of what you paid in), known as a death benefit, to beneficiaries upon the insured's death.

Accordingly, a QLAC may provide for a single - sum death benefit paid to a beneficiary in an amount equal to the excess of the premium payments made with respect to the QLAC over the payments made to the employee under the QLAC.

It also works out well as a single premium life insurance policy option, where you make one lump sum payment for a lifetime death benefit.

The Income Protection Option (IPO) allows a different death benefit payment other than a lump sum.

These policies also pay out a lump sum payment for permanent disabilities and a death benefit if an employee is fatally injured.

Life insurance is a type of insurance in which you pay a certain amount (premium payments) to a life insurance company and in exchange they agree to pay a lump - sum payment (the death benefit) to your beneficiaries upon your death.

The benefit provides a payment of Rs. 1 lakhs of the Sum Assured in lump sum to the nominee within 48 hours of death of the insured if the company has been duly notified.

The death benefit can be paid out as a lump sum, a monthly payment, or an annuity, although most people ask the insurance company for the lump sum.

Single - premium variable life insurance allows you to buy insurance with a single premium (lump sum) payment in return for a guaranteed death benefit that will remain paid - up until you die.

Normally, when the policyholder dies, the death benefit is paid to the beneficiaries as a tax - free, lump - sum amount (or, sometimes, a series of payments) and that's the end of the transaction.

The fixed amount paid by latter to the former is referred to as the premium payment and the lump - sum amount paid to the nominee in the event of the death of the latter if referred to as the death benefit.

It's just that such life insurance coverage offers lean benefits packages, much leaner death benefit payment sums, non-flexible policy options and severely restricted terms of coverage.

Usually, it's a lump sum payment (sometimes known as a death benefit) to beneficiaries.

Upon being diagnosed, you can access a portion of your death benefit as a lump sum cash payment to use however you see fit.

Rather than the life insurance company pay the normal lump sum death benefit, with the IPO you choose how much and for how long your beneficiary receives monthly or annual payments.

This differs from the typical death benefit selection in that usually, the beneficiary who completes a death claim elects how he or she would like to receive the death benefit, whether as a lump sum, or annuity payments for X number of years.

This means that if you had $ 500,000 in death benefits, your beneficiaries would receive $ 425,000 as a lump sum payment of the death benefits.