Sentences with phrase «time lump sum benefit»

The Critical Illness Benefit Rider provides a one - time lump sum benefit if the insured experiences a covered critical illness and meets the benefit eligibility requirements.

Not exact matches

Add onto that the benefits of taking the lump sum and starting something fresh and exciting and it was just the right time for me.

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 funeralBenefit The Canada Pension Plan death 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.

The logic behind this (as I remember it from one of Clegg's speeches) was that by the time the child reaches 18 years old, a lump - sum windfall may deliver a short - term benefit but will be of little use in the long - run if they had a poor education.

«In much the same way investment advisors and the investment industry preach dollar - cost - averaging and investing small increments of money over a long period of time, as opposed to one lump sum of money all at once, I think that just goes to justify the benefit of taking the payments over the long run,» says Heath, «Especially if one didn't have a lot of financial aptitude.»

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.

The insurance benefits are paid at one time in a lump sum, not in regular payments.

Please let me know that monthly income advantage plan offered by Max Life in which after paying 12 annual premiums will get a monthly income for next 10 years & get a lump sum amount (equal approximate the premiums paid in 12 years in the beginning) plus approx. 14.5 times death benefit for the entire policy term i.e. 22 years.

In addition to these restrictions, if the pension account contains unrestricted non-preserved benefits the member is able to choose to partially commute the TRIS to cash their unrestricted non-preserved benefits as a lump sum from their TRIS at any time.

The research indicates that when DC plans offer distribution options alongside a one - time lump - sum benefit payment, a good number of retiring plan participants are interested in, and take advantage, of these options.

Hence we recommend you not only to continue your Sip in volatile market but also to invest some lump sum amount during down times that would give you extra benefit over long - term wealth creation.

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.

If your loved one was fatally injured at work, you may also be able to recover permanent total disability as death benefits for a period of time or in a lump sum amount.

I agree to settle at this time in order to obtain a lump sum payment in order that I need not become compelled to attend on assessments, medical appointments, and participate in rehabilitation programs mandated by the accident benefit insurer and to avoid the risks of proceeding to arbitration.

The employer provided 13 weeks» working notice during which time there was benefit continuation, plus an eight weeks» lump sum payment.

The death benefits are tax - deferred, and your family will receive a lump sum from the insurance provider at the time of your death.

SPUL offers permanent protection with the benefit of a one - time lump sum payment.

While most lump - sum payout plans have a fixed Sum Assured benefit, some may offer higher or lower benefit depending on the time of death.

These give you a one - time lump - sum amount along with the term insurance benefit, in the event of an accidental death or an accident leading to permanent disability.

Life insurance benefits are usually paid out to beneficiaries in a one - time lump sum.

The goal of the IPO rider is to pay out the death benefit over a longer period of time to protect the beneficiary from the typical lump sum, which essentially amounts to a «blank check».

With the simple, accessible and affordable protection offered by the CoverMe Critical Illness insurance plan, you'll have the security of knowing that should you be diagnosed with one of the five covered illnesses or conditions, you'll qualify to receive a one - time, lump - sum benefit of $ 25,000, $ 50,000 or $ 75,000 — paid directly to you, to spend however you wish.

Term plans promise the insured a lump sum benefit which will be payable to his nominee if the insured dies any time during the term opted by him.

That rider pays out either a lump sum (usually three to six times the monthly benefit) or a few extra months of benefits to a beneficiary if you die.

After an insured is injured due to a covered accident, it provides the certificate owner with a lump - sum benefit, so they can spend less time worrying about expenses and more time healing.

Other supplemental plans may provide you with a cash benefit paid out over a period of time or given to you in one lump sum.

When you take time to invest in life insurance, you have peace of mind in knowing that your loved ones will receive a lump sum, tax - free benefit.

The first, and most common, time life insurance is taxable is if your beneficiaries choose regular payments of the benefit over a lump sum.

If there is no spouse, a dependent child generally age 18 or under is then eligible for a one - time lump sum death benefit.

At that time, if the key employee can not perform the regular and substantial duties of his regular occupation, the lump sum benefit is paid to the company and the policy terminates.

Protective Life — Competitive for controlled Type 2 diabetics, especially if you take your death benefit over time (over 20 years) instead of a lump sum.

Critical Illness insurance policy is a benefit policy that provides a lump - sum amount on diagnosis of the covered illness for the first time.

The heirs - If the insured will die, the heirs can opt to receive benefits through cash distribution, tax - free income death benefit and lump sum over specific span of time.

Typically, such critical illness insurance plans not only provide the lump sum payout on detection of the disease but also provide additional benefits such as provision of regular income a for a period of time, and waiving off the requirement to pay premium for the health insurance plan.

Extra Life Income Option: An extension to the income option, benefits include lump - sum payout in case of death due to accident & regular monthly income (level or increasing) chosen at the time of inception.

Beneficiaries have the option to receive death benefit proceeds either in the form of a lump sum, one - time payment, or as a continuation of monthly or annual annuity payments paid directly to them.

It's important to note that, although term life can be used to replace lost potential income, life insurance benefits are paid at one time in a lump sum, not in regular payments like paychecks.

The lump - sum Social Security death benefit is a one - time payment of $ 255.

Critical illness benefit option - Upon diagnosis of any of the 40 specified critical illnesses, the benefit amount is paid as a one - time lump sum.

Another endorsement — the Income Protection Option (IPO)-- will allow the policy owner to choose a specific form of payout for the policy's death benefit, including either a lump sum at various times or monthly payments to the beneficiary, at the time of policy issue.

Lumpsum: When one opts for lump sum payout option, the nominee receives the death benefit as lump sum one - time pay.

The benefit is that there will not be any lump sum payment due at the time of issue, as there will be with an original age policy in most cases.

Lump - sum: When one opts for lump sum payout option, the nominee receives the death benefit as lump sum one - time Lump - sum: When one opts for lump sum payout option, the nominee receives the death benefit as lump sum one - time lump sum payout option, the nominee receives the death benefit as lump sum one - time lump sum one - time pay.

The nominee has the option at the time of claim settlement to take lump sum Death Benefits as the discounted value of outstanding instalments.

If a person is already claiming spousal benefits at the time their spouse dies, that person does not need to submit a separate application for the lump - sum Social Security death benefit.

Death benefit is paid as lump sum, regular income or as lump sum plus regular income, as per the option chosen at the time of purchase.

The only way a nominee may benefit is if the annuitant dies without getting the purchase price back, the nominee will get the amount back, either as a lump sum or over a period of time.

This scheme caters to Annual Income benefit, which might help to fulfil the requirements of the insured's family, mainly for the children's benefits, in the case of unforeseen demise of the insured any time before the policy gets insured and a lump sum at the time of policy's maturity heedless of the policyholder's survival.

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.

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.