Sentences with phrase «then death benefit payments»

In the event that the insured policy owner has weeks left to live and can verify such by medical evaluation, then death benefit payments can start being paid out to allocated beneficiaries.

Not exact matches

(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.

The policy will then remain in force, and the buyer will make the payments for you and receive the death benefits when you pass away.

The selling policyowner receives an upfront cash payment in exchange for transferring ownership of the life insurance policy — typically more than any existing cash value but less than the policy's full death benefit — and the investor as the new owner then continues to make the ongoing / annual premium payments.

If it was then found out after your death, within two years of your application, the insurance company would not be liable to make any payments for your death benefit to your beneficiary.

Then I read further, and apparently, the idea is more like, the death benefit goes up over time as the premiums are paid, but if someone stops paying the premiums the death benefit is still paid but it's just whatever small amount he had left it at with his last premium payment.

If the insured policy owner passes away while there is outstanding debt leveraged against the whole life policy, then the difference will be subtracted from any future death benefit payments.

When a consumer sells a policy in a «life settlement» transaction, the policy owner receives a cash payment and the purchaser of the policy assumes all future premium payments — then receives the death benefit upon the death of the insured.

If the beneficiary sets a time to stop receiving interest payments and is alive when that time comes, they will receive the full death benefit of the policy then.

Then look at whatever the corresponding monthly payment will be for whatever death benefit you are contemplating.

If you want a flexible plan that allows you to build cash value, change your premium payments, and adjust your death benefit, then universal life may be a good option for you.

For instance, revisiting the earlier scenario, consider for a moment what happens if the insured makes ongoing premium payments — to cover both the annual insurance death benefit, and to build up the reserves to have the policy endow at $ 1,000,000 at age 100 — and then passes away after only 20 years.

The selling policyowner receives an upfront cash payment in exchange for transferring ownership of the life insurance policy — typically more than any existing cash value but less than the policy's full death benefit — and the investor as the new owner then continues to make the ongoing / annual premium payments.

If the death or the first diagnosis of cancer (subject to waiting period **) occurs during the premium payment term, then, an additional benefit as Income Benefit will be pbenefit as Income Benefit will be pBenefit will be payable.

The life company may take some time to investigate the circumstances of the death but, if all passes muster, then the insurer will pay out the death benefit or protection amount in a lump sum or in annual payments.

After payment of the death benefit, policy will then be terminated.

If one of you dies, then the other can take the death benefit and either pay off the house or invest it and pay the payment with the monthly interest that it earns.

Someone who is looking for a term plan with a range of cover options like: a) Additional accidental death benefit or b) Increasing life cover during important milestones of life or c) Partial lumpsum payment to family members after death and remaining in monthly payments or d) Big lumpsum payment to family members after death and additional monthly payments If you also have one or more of the above listed requirements, then HDFC Life Click 2 Protect Plus plan is for you.

What this means is that the cash value in the policy will then be equal to the amount of the death benefit and that no additional premium payment will be due.

In case of payment of all the premiums for at least first three policy years and then premiums are not paid, the risk cover for full Death Benefit is still available for a period of one successive year (Auto Cover Continuation Period) from the due date of first unpaid Premium.

The policy terminates after payment of the death benefit and no future payouts is then payable.

If you know that your family can not make the right financial decision and will face the problem of investment and saving after receiving the huge amount of the death benefit at once then going for a staggered payment is the best option.