Learn about the concept of 'Additional Insured' in general insurance terms. Discover how secondary beneficiaries, such as children, are added to policies and what that entails.
Learn about state death taxes, a tax assessed to beneficiaries receiving property from a deceased person, and how it impacts estate planning.
Learn about the Family Maintenance Policy in life insurance, which provides beneficiaries an income post the insured's death, followed by payout of the policy's face amount.
Learn about the general power of appointment in estate planning, which allows the recipient of a property interest to pass it on to another person of their choosing.
Explore the different ways in which a beneficiary can receive the payout of a life insurance policy. Learn about the optional modes of settlement in life insurance.
Explore the concept of a Refund Life Annuity, an annuity that ensures the same amount paid in by the insured is distributed as installment payments during their lifetime and to their beneficiary upon death.
Explore the concept of commutation right in life insurance, allowing beneficiaries to exchange a series of payments for a lump sum. Learn its implications and benefits.
Learn about the delayed payment clause in life insurance plans, detailing how payouts to beneficiaries are managed in case of common disasters or other specific circumstances.
Explore how a spendthrift clause in life insurance protects beneficiaries by preventing creditors from claiming benefits directly. Understand the legal implications and advantages.
Learn about Trusts (Estate) - A common arrangement where a trustee manages property for beneficiaries until a predetermined time. Discover key aspects and benefits.
Learn about adjustment income in life insurance, a crucial benefit designed to provide financial support to beneficiaries following the death of the primary wage earner.
Learn what it means for a life insurance policy to mature, including when the face value is paid out, typically upon the insured's death.
Learn about the additional death benefit in life insurance, an extra benefit payable to beneficiaries upon the insured's death.
Learn who qualifies as a Medicare beneficiary according to the Social Security Administration and what it means to be eligible for Medicare benefits.
Learn about pro rata, a term used in insurance to describe the allocation of payouts between beneficiaries or the sharing of liability between insurers. This guide explains its significance in insurance contracts.
Understand the concept of Per Stirpes distribution in life insurance, which ensures property inheritance through a beneficiary's heirs if the beneficiary predeceases the insured.
