Sentences with phrase «upon one's death»

These types of policies offer an insurance component that pays a stated amount of proceeds upon the death of the insured.

Guaranteed issue life insurance coverage is a life insurance policy that will pay out a benefit to a named beneficiary upon the death of an insured.

It only pays benefits upon the death of the policyholder.

The policy pays upon the death of the insured or when the insured person reaches a specific age stated in the policy.

Many people want to name their children as the beneficiaries upon their death in this sort of situation.

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.

This is accomplished by preparing legal documents that describe who will be in charge of the estate upon your death and will will receive the assets.

Check with your tax advisor to be sure that your estate is protected as much as possible from estate taxes upon your death.

Additionally, the proceeds received upon death of the policy holder or upon maturity are tax free under Section 10 (D).

There is no investment component, only a benefit payable upon the death of the policyholder.

A life insurance beneficiary is an individual who receives the policy's benefit proceeds upon the death of the insured.

There are different ways that you can provide for the payoff of your mortgage upon your death using life insurance.

But a small business usually involves various business engagements that don't necessarily terminate upon your death.

The money you pay into the term life insurance is only available to your beneficiaries upon your death if you die during the term length.

Life insurance is insurance that pays out a sum of money upon the death of the insured person.

His $ 10,000 was to be used to pay their mortgage payments upon their death for one year.

Both types provide a cash payout upon your death.

No one who has spent a lifetime building wealth wishes for those assets to be sold off immediately upon their death due to a need for cash.

Normally, the additional benefit paid out upon death due to accident is equivalent to the face amount of the original policy, which doubles the benefit.

At the time of this writing, although this may be changing, the step up in basis that is afforded other types of assets upon death is NOT available for annuities.

Term life insurance pays upon death for any cause at any time in any place, except for suicide within first 2 policy years, 1 year in some states.

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.

A life insurance policy pays a set cash benefit to your surviving family upon your death.

In general, the proceeds of a life insurance policy are payable only upon death.

Whether you are a solo practitioner or work in a small firm, you should have provisions in your will to handle your firm business upon your death.

There is an interaction between the probate laws that govern the distribution of property upon death, and the marital property laws that govern distribution of property between divorcing spouses.

As long as the premiums are paid, your beneficiary will receive the benefit amount upon your death.

Of course, if the benefits are not needed during his lifetime, then the full death benefit is paid to the beneficiary upon his death as in any traditional policy.

One of the biggest benefits of term life insurance is that it helps your family replace your lost income upon your death.

Whole Life policies, and one of two options of universal life policies — Option B — pay the cash value in addition to the face value upon death.

It's basically a small life insurance policy used to provide money to pay for funeral expenses upon the death of the person insured.

A will is a single document which dictates how you wish to have your assets transferred upon your death.

You can set up term insurance that will payoff certain business debts upon your death.

When you buy a whole life insurance policy, you carefully calculate how much coverage you may need to financially provide for your loved ones upon your death.

The amount of money you put in, plus what the market has given you, will pass to your heirs upon your death.

Second to die life insurance will pay a death claim upon the death of the second insured person.

And if you don't use your accumulated value, it can go to your spouse upon your death.

Most commonly, this is a spouse, a child (or children), or other loved ones who may suffer a financial loss upon your death.

If you're unmarried but have a significant other who depends on you for financial support, life insurance can help replace the income that is lost upon your death.

The mortgage is the biggest threat to maintaining standard of living upon the death of a spouse.

It also provides tax - advantaged ways to add to your account upon your death.

First, the good news: if you have federal student loans, they are discharged upon death.

All types of life insurance policies can provide tax - free cash upon death.

You can also select beneficiary options so you can determine who will receive funds upon your death.

What happens upon your death if your significant other also passes around the same moment, is that the life insurance policy will not pay out any benefit to your significant other.

Please note that if you have an unpaid cash value balance upon death, the amount will be deducted from the death benefit paid out to your beneficiaries.

But it is a loan that must be repaid, which typically is done through the sale of your home upon your death.

If you believe existence ends upon death you have made an affirmative statement about the afterlife.