Sentences with phrase «advantages of life insurance contracts»

They do this because of the growth potential and tax advantages of life insurance contracts.

For those of you that are familiar with the Internal Revenue Code (IRC), or happen to know a little about the tax advantages of Life Insurance contracts, you probably know that IRC section 7702 defines the type of life insurance contract that receives tax advantages.

Not exact matches

Taking advantage of the good opinion that the raters had of the industry, many life insurance companies issued Guaranteed Investment Contracts [GICs] to institutions for their Defined Benefit and Defined Contribution pension plans.

The IRS has determined that if too much cash is paid into a policy at once, a Modified Endowment Contract (MEC) is created and the tax advantages of the permanent life insurance policy can be lost.

One of the primary advantages to limited pay life insurance is that you no longer have to pay into your policy once the contracted payment duration has been met.

Split dollar life insurance DEFINITION: a plan that allocates the costs and benefits of a life insurance policy in a specific manner by contract in order to maximize tax advantages for the employer AND employee.

These types of policies offer the advantage of guaranteed level premiums throughout the insured's lifetime at substantially lower premium cost than an equivalent whole life policy at first; the cost of insurance is always increasing as found on the cost index table (usually p. 3 of a contract).

Internal Revenue Code Section 7702 Section 7702 is a portion of the Internal Revenue Code that describes certain conditions that life policies should satisfy in order to qualify as life insurance contract that has tax advantages.

Section 7702 is a portion of the Internal Revenue Code that describes certain conditions that life policies should satisfy in order to qualify as life insurance contract that has tax advantages.

The IRS has determined that if too much cash is paid into a policy at once, a Modified Endowment Contract (MEC) is created and the tax advantages of the permanent life insurance policy can be lost.

«Future Generali India Life Insurance Company» is only the name of the insurance company and «Future Generali Bima Advantage Plus» is only the name of the Unit Linked Life Insurance contract and does not in any way indicate the quality of the contract, or its future prospects oInsurance Company» is only the name of the insurance company and «Future Generali Bima Advantage Plus» is only the name of the Unit Linked Life Insurance contract and does not in any way indicate the quality of the contract, or its future prospects oinsurance company and «Future Generali Bima Advantage Plus» is only the name of the Unit Linked Life Insurance contract and does not in any way indicate the quality of the contract, or its future prospects oInsurance contract and does not in any way indicate the quality of the contract, or its future prospects of return.

Split dollar life insurance DEFINITION: a plan that allocates the costs and benefits of a life insurance policy in a specific manner by contract in order to maximize tax advantages for the employer AND employee.

One of the primary advantages to limited pay life insurance is that you no longer have to pay into your policy once the contracted payment duration has been met.

This formula, which we'll refer to as the rules governing modified endowment contracts or the MEC rules is used regularly today to make sure that life insurance proceeds remain qualified for the various tax advantages of permanent life insurance.

In a previous article focusing on the tax advantages of life insurance, we discussed that the cash value accrual in a life insurance contract is allowed to accumulate tax free inside the policy.

The con to single premium is the policy is considered a modified endowment contract and you lose some of the tax advantages of cash value life insurance.

Part of the Internal Revenue Code that defines the conditions a life insurance policy must satisfy to qualify as a life insurance contract, which has tax advantages.

Get an affordable life insurance for older life insurance people pay money advantages to those individuals that are described in an contract of plan as recipients at plenty of duration of deciding upon up with a plan.