Sentences with phrase «sum life insurance payment»

The income from both policies will be around $ 50,000 per year plus they will provide a lump sum life insurance payment when they die.

Not exact matches

You give an insurance company money in a lump sum or in payments over a period of years, then at retirement, the cash gets «annuitized,» or paid out in a string of payments based on your life expectancy.

The premise behind an immediate annuity is simple: You invest a lump sum of money with an insurance company (although you would actually do so through an adviser, a broker or insurance agent) and in return you receive a guaranteed monthly payment for life regardless of how the financial markets perform.

That's because when you invest a lump sum with an insurer today, the insurance company guarantees you will receive a monthly income payment for the rest of your life.

Life insurance proceeds are not taxable with respect to income tax, so long as the proceeds are paid out entirely as a lump sum, one time, payment.

Purchasing a life insurance annuity is less popular than simply accepting a lump sum, as there's not a huge advantage to choosing such deferred payments when the lump sum is tax - free.

The premium could be paid to the life insurance company as a lump sum, an annual or semi-annual payment, or monthly amount, for example.

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).

An immediate annuity is a contract between you and an annuity issuer (an insurance company) to which you pay a single lump sum of cash in exchange for the issuer's promise to make payments to you (or the annuitant) for a fixed period of time or for the life of the annuitant.

Single premium life offers permanent life insurance that is paid up in a onetime lump sum payment.

Life insurance proceeds are not taxable with respect to income tax, so long as the proceeds are paid out entirely as a lump sum, one time, payment.

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.

An annuity is usually a series of regular payments to you by a life insurance company in return for a lump sum payment.

Two types of universal life insurance: The «Single - Premium» universal life policy can be purchased with a single lump - sum payment.

Secondly, if your beneficiary is not disciplined financially, receiving a large amount as lump sum payment being the proceeds from your life insurance policy may encourage him to spend the whole money carelessly.

Commutation Right: The right of a beneficiary to receive in a single lump - sum the remaining payments under an installment option which was selected for the settlement of the proceeds of life insurance policy.

This means that like other types of life insurance, the contract can either be funded by lump sum or series of installment payments.

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

Life insurance is simply a contract between an insurance company and a policy holder to provide a lump sum payment to a designated beneficiary when the policy holder dies.

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.

Most people know that a life insurance policy pays out a lump sum amount in exchange for a stream of payments to the insurance company.

If the deceased held life insurance, it may offer an advance payment of a portion of the total sum insured to help cover funeral costs.

Designed to prevent the risk of outliving your income, annuities work by giving a lump sum or series of payments to an insurance company, and in return, the insurer agrees to pay you a guaranteed income for a certain length of time (or even for the rest of your life).

Permanent life insurance never expires * and your beneficiaries can receive a lump sum payment when you die.

Keep in mind that if a long - term care insurance policy does not accept lump - sum premium payments, you would have to make several partial exchanges from the CSV of your existing life insurance policy to the long - term care insurance policy provider to cover the annual premium cost.

A standard fixed annuity is an insurance contract that allows an individual to pay premiums — either in a lump sum or by monthly installments — and obtain set income payments for life.

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

A contract sold by a life insurance company in which an insured makes contributions into a fund that can then be withdrawn in a lump sum or a series of future payments.

In return for investing a lump sum (or premium, as it's known in annuity - speak) with an insurance company, you receive payments that begin at once and continue for life.

Then you should even consider «Life Insurance», which will pay your dependents a lump sum, or regular payments, should the worst happen and you die.

Weight your resources before you opt for a life insurance policy and do not opt for a lump sum payment of your policy if you find that this would burn a hole in your pocket and it would become difficult for you to make up for the same in coming months.

Using this approach, rather than borrowing a sum of money on an annual basis to cover an annual premium payment, like you might expect, you typically finance a one - time, larger amount to fund a single premium life insurance 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 benefit.

And while there are several different options for structuring a life insurance settlement, benefits are typically paid as a lump - sum cash payment.

This single premium whole life insurance policy provides lifetime protection in one lump sum payment.

However, some life insurance policyholders may have concerns about their beneficiaries» ability to properly manage such a lump sum payment.

Life insurance proceeds are quickly paid a few different ways like a large sum, and they are usually non-taxable so that the recipient can use the payment from the proceeds any way they like or need to use them.

Commutation Right: The right of a beneficiary to receive in a single lump - sum the remaining payments under an installment option which was selected for the settlement of the proceeds of life insurance policy.

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.

Life insurance policies often allow the option of having the proceeds paid to the beneficiary either in a lump sum cash payment or an annuity.

These insurance policies can provide coverage in the form of a lump sum payment in the event that you are diagnosed with specific diseases considered life threatening, such as cancer, heart disease, diabetes, stroke, kidney failure or Alzheimer's disease.

Life insurance guarantees payment of a specified sum of money on the death of the insured person.

Life insurance is a contract where, in exchange for premium payments, a lump sum of money is paid upon the death of the insured person.

In sum, if an insurance company rescinds a life insurance policy within the contestability period, the insured may be advised to continue to make payments in the hope that the insurance company will cash them.

The premium could be paid to the life insurance company as a lump sum, an annual or semi-annual payment, or monthly amount, for example.

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 deLife 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 delife insurance company and in exchange they agree to pay a lump - sum payment (the death benefit) to your beneficiaries upon your death.

A term life insurance payout is another form of a lump sum payment, once it's paid out to your beneficiary they can use it to pay for anything.

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.

Designed to prevent the risk of outliving your income, annuities work by giving a lump sum or series of payments to an insurance company, and in return, the insurer agrees to pay you a guaranteed income for a certain length of time (or even for the rest of your life).

This is a sort of life insurance where the beneficiary gets a lump sum payment.