Sentences with phrase «than a lump sum death»

Rather than a lump sum death benefit payout, the rider stretches out the death benefit payout over a longer period, say 10 years or 20 years.

Some companies will allow you to choose a special election to pay your policy out over a series of years, rather than a lump sum death benefit.

Not exact matches

With a family income policy, rather than a lump sum of money, the death benefit is paid out in monthly increments as a portion of the total death benefit.

If you or your beneficiary elect an option other than lump sum, any interest accrued on the death benefit will be taxed.

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.

If your beneficiaries elect to receive the death benefit as installments rather than a lump sum, some of that will be taxed.

Accelerated death benefit rider — pays 92 % of the death benefit in a lump sum if life expectancy is less than 24 months.

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.

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

There are a few edge cases, like if the death benefit is rolled up in an estate tax or if your beneficiaries elect to receive it in installments rather than a lump sum, but for the most part the money is paid out without being reduced by taxes.

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.

A conventional Term or Universal life insurance policy has no provisions for lump sum payment for anything other than the death benefit.

You might be surprised to learn there are a handful of companies who allow you designate a fixed payment for a fixed number of years as the policy's death benefit, rather than a lump sum benefit.

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

Terminal Illness Rider — This plan will pay out 30 % (in most states) of the death benefit in a lump sum if the insured is diagnosed with a covered terminal illness and is given a limited life span of less than 12 months.

Income Protection Agreement — provides an irrevocable settlement option, that pays the death benefit over a period of years, which provides for greater cash accumulation and a benefit stream for beneficiaries (rather than a lump sum).

It's also worth considering buying a larger death benefit than your beneficiaries will need because life insurance benefits are paid out in a tax - free lump sum, and if invested, can reap a significant amount of interest even in the very first year.

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 additional death benefit can be taken as lump sum or as 25 % of basic sum assured paid at the end of the each last four years and family income benefit as 1 % of the basic sum assured at the end of every month following the date of death till the end of the policy term but not less than 36 monthly payments.

The nominee gets the Sum Assured (SA) on death of the policyholder which is higher than 10 times the annual premium or 105 % of all premiums paid till death under the Lump sum Benefit option.

If your beneficiaries elect to receive the death benefit as installments rather than a lump sum, some of that will be taxed.

With a family income policy, rather than a lump sum of money, the death benefit is paid out in monthly increments as a portion of the total death benefit.

We even work with a few life insurance carriers that offer 20 to 50 percent lower premiums for electing to have your death benefit paid out over time rather than as a lump sum.

On death of the Life Assured during the Policy Term due to causes other than accident, provided the policy is in - force, the Death Sum Assured will be paid as lump sum to the Beneficdeath of the Life Assured during the Policy Term due to causes other than accident, provided the policy is in - force, the Death Sum Assured will be paid as lump sum to the BeneficDeath Sum Assured will be paid as lump sum to the Beneficiary.

Upon your death, regardless of how you die other than by suicide the full face amount of the policy will be paid to your beneficiary in one lump sum or in the form of an income if you elect to go this way.

In these situations, we recommend setting up your policy's death benefit as an annuity rather than a lump sum.

With an Accidental Death Benefit Rider, you can secure a higher lump sum than a standalone policy.

If 105 % of total premiums paid till the date of death is higher than sum assured on death, then any such difference will be paid as lump sum.

If 105 % of total premiums paid till the date of death is higher than sum assured on death, then any such difference will be paid as a lump sum.

If life insurance death benefits are paid to you in a lump sum or other than at regular intervals, include the life insurance death benefits in your gross income on your tax return only to the extent the life insurance death benefits are more than the amount payable to you at the time of the insured person's death.