Sentences with phrase «value upon death of the owner»

With regard to the required payout of a deferred annuity at death, all deferred annuity contracts issued since January 18, 1985 must pay out the contract value upon the death of the owner [IRC Sect. 72 (s)-RSB-.

Most brokered CDs have a «death put» (survivor option), which allows the heirs to sell the CD at face value upon death of the owner.

Not exact matches

Death Benefit Rider Upon the death of the Owner, the death benefit will be equal to the account value after theDeath Benefit Rider Upon the death of the Owner, the death benefit will be equal to the account value after thedeath of the Owner, the death benefit will be equal to the account value after thedeath benefit will be equal to the account value after the MVA.

Whole life requires the policy owner to pay a fixed monthly premium for the rest of their life, and upon death, the company will payout the face value of the policy (death benefit) to the beneficiary.

Cash value life insurance is more applicable to wealth building discussions because cash value is typically used during the policy owner's lifetime and is forfeited upon death in lieu of the death benefit being paid to surviving beneficiaries.

By definition, the paid up value of a life insurance policy is the value an owner receives from the insurer upon default or surrender or early termination of the policy before its maturity or the insured's death.

In addition, loans from insurers secured by policy values are not income and earnings credited to an owner's policy values (known as «inside buildup») by the insurance company are not currently taxed (and may escape taxation altogether if such earnings are not distributed other than as part of the death benefits paid upon the death of the insured).

Regardless of whether an annuity owner's beneficiary is a spouse or non-spouse, upon his death the entire account value is included in calculating estate tax liability.

Paid - up additional insurance increases the total death benefit as well as the cash value the policy owner can either borrow as a loan or receive upon the cash surrender of the policy.