death benefit

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  • noun

Words related to death benefit

insurance or pension money payable to a beneficiary of a deceased

References in periodicals archive ?
The living benefit allows the insured to access a portion of the death benefits, usually in cash, while the insured is still alive.
She said out of 563 registered death benefits claims of deceased workers next-of-kin, cutting across 166 MDAs, 497 claims have been verified, certified and approved for payment to the tune of N1.3 billion.
In recognition of their rendered contribution and service in barangay governance, the DILG is ensuring efficient processing and release of barangay death benefits to their beneficiaries,' he also said.
Canberra [Australia], Jan 24 ( ANI ): An Australian woman has been accused of murdering two of her adult children for financial gain before trying to claim more than $100,000 in death benefits.
For many years, especially when the estate tax exemption was low, the focus of estate planning strategies with life insurance often shifted to how the minimum premium can be leveraged for maximum death benefit. With the 2016 estate tax exemption at $5.45M for individuals and $10.9M for married couples, and at $5.49M and $10.98M respectively in 2017, the time may be ripe for the planning pendulum to swing back towards a balance between securing the proper amount of death benefit and the opportunity for cash accumulation in permanent life policies.
The petitioners filed an application for payment of an additional sum of Rs.500,000 on account of accidental death benefits in view of the notification dated 13-8-2008 issued by Punjab Rural Support Programme.
While most IOVAs offer a standard death benefit (a return of account value), optional additional death benefits have manifested in several different forms, including a popular return of premium benefit that offers a lower-cost option.
* In some cases, optional riders permitting access to accelerated death benefits triggered by chronic illness.
How will the death benefits be taxed where a member dies before age 75?
Virginia has another law saying, in essence, that if death benefits are turned over to a former spouse because of such a conflict, that former spouse is liable for the amount in question, payable to the person who otherwise would have collected.
The IRS said individually designed plans must either eliminate this language or clarify that the revocation does not affect the spouse's rights to the QPSA death benefits. For example, a pension plan that provides that the spouse is entitled to 50% of a participant's benefit, but allows the participant to designate a different beneficiary for the rest, must specify that the revocation only affects the beneficiary of the remaining 50%.
"The trustee is in desperate need of an immediate release of some portion of the death benefits to the trust to provide necessary support for the beneficiaries and to pay the trust's administrative expenses," Torti stated in the petition.
The product has guaranteed level premiums, guaranteed cash value and guaranteed death benefits. There's also the potential for annual dividend payments, which, if paid, can increase the policy's cash value and death benefit or be used to reduce future out-of-pocket premiums.
Indexed annuities' potential for gains is limited, but they have rich guarantees: death benefits, cash values, an income that cannot be outlived, and more--all without an annual fee.