Sentences with phrase «total amount of death benefit»

The lump sum is similar to the one - time benefit usually given by retirement plans because the lump sum will be given one time only, but it is the total amount of the death benefit left by the deceased individual's insurance policy.

Total amount of death benefit is never less than 105 % of the total premium amount paid.

The total amount of the death benefit helps determine the premium, says Allen Sarafyan, a State Farm Insurance agent in Studio City, Calif..

In addition to the type, duration, and total amount of death benefit needed, there are other important considerations which will need to be counted.

If you do not get your first benefit payment within that time frame, you are authorized to receive extra payments in the form of interest on the total amount of the death benefit.

It is important to note here, though, that even though a life insurance policy loan is not required to be repaid, if the insured dies while there is still a balance outstanding, the amount of this balance — plus interest — will be subtracted from the total amount of death benefit proceeds that are paid out to the beneficiary.

- In these policies, the LTC benefits are taken directly from the death benefit and do not exceed the total amount of the death benefit.

Thus, even though the cost per $ 1,000 of death benefit rises, the total amount of death benefit you purchase decreases.

In addition, should the policy holder pass away while there is still an unpaid loan balance, this amount will be deducted from the total amount of death benefit proceeds that are received by the policy's beneficiary.

Not exact matches

If you have already accumulated assets, you can subtract the amount of those assets from your total death benefit need, assuming they are somewhat liquid and wouldn't require a large amount of effort or loss in order to gain access to cash.

You can access a maximum benefit amount which equals the lesser of 90 % of the total death benefit or the policy face amount less $ 25,000.

On top of the death benefit amount, this option allows any amount left in the policy fund to accumulate cash value and the total to be paid tax - free to the beneficiary.

The maximum benefit amount available equals the lesser of 90 % of the total death benefit or the policy face amount less $ 25,000.

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

The total amount of money or «death benefit» includes the money in the deceased's super account at the time of death plus any life insurance cover through the super fund.

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.

So if he dies at age 70, the beneficiary would receive a total of $ 500,000 death benefit, plus the additional cash value amount of $ 600,000.

As such, the net amount of the death benefit is excluded from gross income and, as long as the total annual payments do not exceed IRS guidelines, it is not generally subject to federal or state income tax.

Graded which causes your death benefit to be limited the first two years but you will in return receive the greater sum of the total premium paid with 4.5 % interest of 30 % of the face amount.

This amount is subtracted from the total death benefit to arrive at the remaining unpaid portion of the death benefit.

The death benefit is referred to as the total amount of sum assured together with the bonus (if any) is paid to the beneficiary of the policy in case of any eventuality or uncertain demise of the policyholder.

The death benefit payable will be the amount higher of the Sum Assured or 10 times the annual premium or 105 % of total premiums paid till the date of death for regular premium payment option and higher of Sum Assured or 125 % of the Single Premium paid under the Single Premium payment option.

All future premiums are waived off and paid for by the company under the Additional Savings Benefit, an amount equal to an annual premium is paid every year till the end of the term under the Income Benefit and on Maturity, total Fund Value including the top - up Fund Value which was automatically allocated to the Secure Fund on death is paid

If you have already accumulated assets, you can subtract the amount of those assets from your total death benefit need, assuming they are somewhat liquid and wouldn't require a large amount of effort or loss in order to gain access to cash.

Death Benefit: In case of the demise of the insured person the beneficiary of policy LC Jeevan Anand is payable of total sum assured amount along with the simple reversionary bonus and the tenure of the policy continues to be inforce.

Death benefit is paid as the total sum assured amount to the nominee of the policy in case of uncertain demise of the insured person of the policy.

In the opposite way, the availability of the accelerated death benefit rider might mean being able to avoid a viatical settlement, which would ultimately yield a lower total amount of benefit.

Death Benefit - In case of unfortunate death of the policyholder during the tenure of the policy, the beneficiary of the policy receives the death benefit as the sum assured amount, which is 105 % of the total premium paid till deDeath Benefit - In case of unfortunate death of the policyholder during the tenure of the policy, the beneficiary of the policy receives the death benefit as the sum assured amount, which is 105 % of the total premium paid till Benefit - In case of unfortunate death of the policyholder during the tenure of the policy, the beneficiary of the policy receives the death benefit as the sum assured amount, which is 105 % of the total premium paid till dedeath of the policyholder during the tenure of the policy, the beneficiary of the policy receives the death benefit as the sum assured amount, which is 105 % of the total premium paid till dedeath benefit as the sum assured amount, which is 105 % of the total premium paid till benefit as the sum assured amount, which is 105 % of the total premium paid till demise.

If the insured person dies during the tenure of the policy, then the death benefit is paid to the nominee of the policy i.e. the child as the sum assured amount, which is 105 % of the total premium paid till demise.

Good article - I do believe whole life insurance can have it's place, but I think the most important thing is the «right amount» of total insurance, or death benefit.

In other words, the 50 - year - old male who purchased his $ 100,000 policy for $ 1248 could double the amount of coverage to $ 200,000 total death benefit for just $ 1351 per year and the full $ 200,000 would pay out in the event that he were to die from an accidental death.

In the event of an accidental death, this insurance will pay benefits in addition to any life insurance but only up to a set amount total regardless of any other insurance held by same insurer, held by the client.

Your total net death benefit will now equal the larger of the total specified amount less any indebtedness, the policy value multiplied by the appropriate attained age Guideline Premium Test corridor factor less any indebtedness, and $ 5,000.

This means that even after the insured has passed away, the total amount of premium that he or she paid into the policy over time — combined with such funds» invested return — will be more than what the insurer will pay out in the form of a death benefit on the policy, resulting in a profit to the insurance company.

These are: • Death benefits deemed on not to increase • The maturity date payable • Death benefits that should be provided right after the maturity date is being determined • The sum amount of the total endowment benefit which includes the cash value surrendered within the maturity date that should not the very least exceed the amount payable as death benefit within the span of the contDeath benefits deemed on not to increase • The maturity date payable • Death benefits that should be provided right after the maturity date is being determined • The sum amount of the total endowment benefit which includes the cash value surrendered within the maturity date that should not the very least exceed the amount payable as death benefit within the span of the contDeath benefits that should be provided right after the maturity date is being determined • The sum amount of the total endowment benefit which includes the cash value surrendered within the maturity date that should not the very least exceed the amount payable as death benefit within the span of the contdeath benefit within the span of the contract.

In addition to the potential for higher earnings on cash value balances, policyholders of universal life contracts have flexibility in terms of the level of total death benefit, premium amounts paid and payment frequency.

You can choose this product to come fixed with the death benefit being 100 % of the face value from the start, graded which causes your death benefit to be limited the first two years but you will receive the greater of the sum of the total premium paid with 4.5 % interest of 30 % of the face amount, or you can choose modified which offers a limited death benefit for the first two years based on return of premium paid plus 10 %, after the two years the death benefit is 100 %.

The difference between that cash value savings and the total death benefit amount is the pure insurance amount, which is also called the «net amount at risk» or «at - risk amount» and refers to the amount of risk, quantified in dollars and cents, that the insurer is taking for insuring (underwriting) your life.

In case of Death, the minimum death benefit is offered at 105 percent of total amount of all paid premium until the time of dDeath, the minimum death benefit is offered at 105 percent of total amount of all paid premium until the time of ddeath benefit is offered at 105 percent of total amount of all paid premium until the time of deathdeath.

The death benefit will always be at least 105 % of the total premium amount paid as on the date of death.

The maximum benefit amount available equals the lesser of 90 % of the total death benefit or the policy face amount less $ 25,000.

An insurance company will sometimes request you list your total assets and liabilities on the application to help them evaluate, in conjunction with your income, your need for the amount of death benefit applied for.

This is a dual death benefit plan under which a complete sum assured is paid in the first option and in the second option after death of the insured, the insurance company pays 50 % of the total sum assured immediately to the nominee of the insured and the remaining amount is paid monthly as a regular income at 3 %.

Annuities typically offer tax - deferred growth of earnings and may include a death benefit that will pay your beneficiary a specified minimum amount, such as your total purchase payments.

As an example, in some cases, if the insured dies within just the first year or two, the policy's beneficiary may only receive a certain percentage of the total stated death benefit amount.

If two children were to pass away before the death benefit was paid, the remaining two will receive a proportional amount, so each will now receive 50 % of the total benefit in this scenario.

The death benefit paid on death will bean amount which is higher of the chosen Sum Assured deducting any partial withdrawals made in the 2 years prior to death or the available Fund Value is paid with a minimum of 105 % of total premiums paid until the date of death

Death Benefits: If the insured dies before the maturity, then the nominee gets the sum assured on death subject to a minimum of 105 % of the total premium amounts paid till death + accrued Fixed Regular AddiDeath Benefits: If the insured dies before the maturity, then the nominee gets the sum assured on death subject to a minimum of 105 % of the total premium amounts paid till death + accrued Fixed Regular Addideath subject to a minimum of 105 % of the total premium amounts paid till death + accrued Fixed Regular Addideath + accrued Fixed Regular Additions

Here, the minimum amount of Death Benefit is equal to 105 % of total premiums paid (including Top - Up premiums) up to the date of dDeath Benefit is equal to 105 % of total premiums paid (including Top - Up premiums) up to the date of deathdeath.

The death benefit amount will be the sum total of the «sum assured — basic plan coverage» and the «additional benefit (if any — as opted)».