Sentences with phrase «sum upon your death»

A term policy can be structured for a specific term that pays a lump sum upon your death which can be used for any purpose, including paying off your mortgage.

$ 500,000 Term Life Insurance Term life insurance is a financial security product that pays out funds in a lump sum upon death of the insured.

Often these options would them pay out the remaining lump sum upon the death of the beneficiary to another beneficiary.

The family gets a lump sum upon the death of the parent, and the future premiums of the policy are paid by the insurance company on behalf of the policy holder.

Rather than paying a lump sum upon his death, his wife will receive $ 50,000 per year for 20 years.

Policyholders pay an annual premium to the insurance company who will pay out a lump sum upon their death.

Option 3: Income Option Under the income option, 10 % of the sum assured is paid as a lump sum upon death of the life insured and the remaining 90 % of the sum assured shall be paid as monthly income over next 15 years (0.5 % of sum assured every month for 15 years).

The Sum Assured plus all bonuses to date is payable in a lump sum upon the death of the life assured.

Not exact matches

These optional forms can include cost - of - living increases or higher level amounts; the hypothetical account balance is not available as a lump sum except for small amounts or to the beneficiary of the participant upon his or her death before commencement.

In cases where excess wealth was held until death, he advocated its apprehension by the state on a progressive scale: «Indeed, it is difficult to set bounds to the share of a rich man's estates which should go at his death to the public through the agency of the State, and by all means such taxes should be granted, beginning at nothing upon moderate sums to dependents, and increasing rapidly as the amounts swell, until of the millionaire's hoard, at least the other half comes to the privy coffer of the State.»

A district school board may establish policies to provide for a lump - sum payment for accrued vacation leave to an employee of the district school board upon termination of employment or upon retirement, or to the employee's beneficiary if service is terminated by death.

At its most basic, life insurance provides a sum of money, called a death benefit, to the beneficiary of a life insurance policy upon the death of the insured.

Life insurance is a contract between you and a life insurance company to guarantee your survivors a sum of money upon your death, provided that all of the premiums are paid and the policy is still in force.

As a bit of review, the federal estate tax, is also coined the the «death tax» by opponents, and is a lump sum tax based upon the value of your gross estate upon death.

Because the federal estate tax imposes a lump sum obligation upon by the estate that is payable within 9 months of the date of death, a huge estate planning objective has been to avoid it at all costs.

(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.

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.

The insurance company pays out a lump sum death benefit to the beneficiary of the policy upon the death of the insured.

The cash value policy pays out a lump sum cash benefit upon the death of the insured for the benefit of the life insurance beneficiary.

Income Protection Option: Rather than the typical lump sum payout upon death, you can choose to pay your beneficiary the death benefit a monthly income stream.

The federal estate tax is a lump sum tax that is based upon the total amount of the gross estate at death.

For a small / regular premium, people could assure themselves of an increasingly valuable financial asset which transforms into a large lump - sum payment upon death.

Life insurance pays a lump sum of cash (called a «death benefit») to the beneficiary upon the policyholder's death.

Life insurance is a promise by an insurance company to pay those who depend on you a sum of money upon your death.

A premium is paid monthly to keep the policy active, covered in full or in part by the employer, and upon the death of the employee a lump sum of money, the death benefit, is paid out to a designated group or person known as the beneficiary.

Upon the death of the insured, the lump sum death benefit is paid income tax free to the policy beneficiary.

Lump - sum payments do not accrue interest: A $ 200,000 policy will pay out exactly $ 200,000 upon the death of the insured party.

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

Upon your death, the insurer pays your beneficiary a lump sum income tax free death benefit.

Upon your death, this feature allows you to set up your policy so that your family or beneficiary will receive monthly payments, rather than a lump sum.

Upon the death of the survivor, the policy pays out a lump sum death benefit to the beneficiary.

Pays an additional lump sum death benefit upon insured's death if such death occurs by covered accident.

Most people are aware that life insurance companies usually pay out a lump sum death benefit upon the death of the insured.

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.

Upon the death of the insured, the lump sum death benefit is paid income tax -LSB-...] Continue Reading

Endowment can also refer to a type of insurance policy that pays a lump sum upon the insured's death or after a specific term.

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.

Death Benefit is the sum paid to the beneficiary upon the insured's death irrespective of the cause of dDeath Benefit is the sum paid to the beneficiary upon the insured's death irrespective of the cause of ddeath irrespective of the cause of deathdeath.

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.

A premium is paid monthly to keep the policy active, covered in full or in part by the employer, and upon the death of the employee a lump sum of money, the death benefit, is paid out to a designated group or person known as the beneficiary.

The endowment without profit policies are also known as term insurance plans offer the nominee the sum assured only, upon death of the insured.

Upon death of the insured the death benefit is payable which can be taken in monthly instalments or in one lump sum

Under the Kotak Accidental Death Benefit rider, a lump sum benefit is given to the nominee upon the accidental death of the policyhoDeath Benefit rider, a lump sum benefit is given to the nominee upon the accidental death of the policyhodeath of the policyholder.

All life insurance policies work on the same basic premise; make payments, called premiums, to the insurance company, which guarantees to pay chosen beneficiaries a sum of money upon the death of the insured.

Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder).

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

Final expense insurance definition: a small whole life insurance policy ranging from $ 5,000 to $ 25,000 where the primary purpose of the lump sum death benefit payout is to cover burial expenses, such as a grave marker and cemetery plot, and other final expenses, such as any outstanding debts that are not forgivable upon death.

It defines life insurance «as a contract between and insurance policy holder and an insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person.»

With life insurance, a lump sum of money will be paid to your beneficiaries upon your death.

Both types of insurance pay a lump sum of money to the beneficiary upon the death of the policy holder.