Sentences with phrase «as a life insurance settlement»
This process is also referred to as a life insurance settlement or a viatical settlement.
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Known as a life insurance settlement, this agreement transfers your policy over to that person.
Not exact matches
A portion of the life insurance settlement will be taxable as income and the rest will be taxed as capital gains.
Settlements, as they occur, are covered in complete detail with pertinent information on wage adjustments, paid holidays, vacations with pay, shift premiums, medical benefits, dental plans, weekly indemnity, life insurance, pension plans, cost - of - living allowances and rates of pay.
Divorced parents can use life insurance to secure the financial future of their child as part of a divorce settlement with child support.
On television, he had an amusing semi-regular role on the long - running animated hit «King of the Hill» as a guy living off of an insurance settlement with Costco, received after slipping on some urine on the bathroom floor.
What life insurance can do for you: Divorced parents can use life insurance to secure the financial future of their child as part of a divorce settlement with child support.
The life insurance benefit can be used to help pay estate taxes, estate settlement costs, or as a way to leave an inheritance to children and grandchildren.
A portion of the life insurance settlement will be taxable as income and the rest will be taxed as capital gains.
The right of a judgment debtor to accelerate payment of part or all of the death benefit or special surrender value under a life insurance policy, as authorized by paragraph one of subsection (a) of one thousand one hundred thirteen of the insurance law [* see below], or to enter into a viatical settlement pursuant to the provisions of article seventy - eight of the insurance law, is exempt from application to the satisfaction of a money judgment.
The concept of selling your life insurance policy is known as a life settlement, this process involves selling your policy for an amount of cash that is less than your death benefit and more than the amount that is in your cash value account.
As part of a divorce settlement, a woman owned a whole life insurance policy that had been issued to her ex-husband in 1967, who was 38 at the time the of issue.
You may keep property received on this date or later as result of inheritance, bequest, devise, property settlements involving divorce, or beneficiary on life insurance.
Those that specialize in life settlements (also known as viatical settlements) will be happy to buy your policy at a price that is usually much better than the price the insurance company is willing to give you (the cash surrender value).
In its most basic form, life insurance can help pay for estate settlement and funeral expenses, but policies can set your children up for life or can serve as an investment account to help you earn extra retirement cash.
Divorced parents can use life insurance to secure the financial future of their child as part of a divorce settlement with child support.
The remaining gain — the excess of the life settlement value over the cash surrender value, plus the addition gain triggered by subtracting out internal cost - of - insurance charges — is treated as a gain on property interest and is taxed at capital gains rates.
A life settlement involves selling your life insurance company to a company who will take over as owner and beneficiary.
Whether as part of a large law firm practice or in corporate legal departments, each of us has worked in depth with the issues relating to life insurance, annuities, property and casualty, life settlements and premium finance, financial guaranty, title and healthcare lines.
In summary, this is an important and innovative entry into the settlement planning market as most companies have been established life insurance companies who decide to create a structured settlement division.
The CEO of Independent Life Insurance Company said, «We believe Independent Life's singular focus on annuities to fund structured settlements will result in excellent service and broker support, as well as upper tier pricing, to improve and help grow the industry.»
Our wrongful death attorneys can calculate the accurate dollar amount to use for an insurance settlement based on variables such as the joint life expectancy of the couple.
Independent Life Insurance Company, A Texas - based life insurance company announced its launch as the first company of its kind to focus exclusively on the structured settlement marLife Insurance Company, A Texas - based life insurance company announced its launch as the first company of its kind to focus exclusively on the structured settlemenInsurance Company, A Texas - based life insurance company announced its launch as the first company of its kind to focus exclusively on the structured settlement marlife insurance company announced its launch as the first company of its kind to focus exclusively on the structured settlemeninsurance company announced its launch as the first company of its kind to focus exclusively on the structured settlement market.
There is a NEW life insurance company that has entered the structured settlement and settlement planning market, Independent Life Insurance Company, and it's very important that trial lawyers be aware of who they are, their business model and why it is important your clients have them as an option when considering a structured settlemlife insurance company that has entered the structured settlement and settlement planning market, Independent Life Insurance Company, and it's very important that trial lawyers be aware of who they are, their business model and why it is important your clients have them as an option when considering a structured seinsurance company that has entered the structured settlement and settlement planning market, Independent Life Insurance Company, and it's very important that trial lawyers be aware of who they are, their business model and why it is important your clients have them as an option when considering a structured settlemLife Insurance Company, and it's very important that trial lawyers be aware of who they are, their business model and why it is important your clients have them as an option when considering a structured seInsurance Company, and it's very important that trial lawyers be aware of who they are, their business model and why it is important your clients have them as an option when considering a structured settlement.
In some instances, the purchasing company may purchase a life insurance policy as a hedge in case of death in a settlement transfer.
Settlements, as they occur, are covered in complete detail with pertinent information on wage adjustments, paid holidays, vacations with pay, shift premiums, medical benefits, dental plans, weekly indemnity, life insurance, pension plans, cost - of - living allowances and rates of pay.
And while there are several different options for structuring a life insurance settlement, benefits are typically paid as a lump - sum cash payment.
Term life is great for those who can discern how long they need the coverage for, such as for the household's primary income earner while the kids are young, or life insurance for SBA loans, or to meet the requirements of a divorce settlement.
Also, if you hate needles and / or need coverage asap, for things such as life insurance to secure a small business loan or to meet the requirements of a divorce settlement, consider going with a top no exam company.
Life insurance settlement providers and brokers tout the practice as an acceptable estate planning tool.
He also has specialized training in senior - focused issues, including final expense coverage and life settlements, which serves him well now as a life insurance agent with True Blue, where he is focused on non-medical term and final expense policies.
A Life Insurance Settlement — once available only as a Viatical Settlement — is simply the sale of your policy to an investment company.
No exam life insurance of this sort if particularly valuable for those required by the divorce court to buy life insurance as part of the divorce settlement.
If you're required to buy life insurance as part of a divorce settlement or decree, no exam life insurance is usually the way to go.
Over the last few years, a new opportunity has evolved, called a life settlement and has created a multi-billion dollar industry known as the life insurance «secondary market».
A collateral assignment of life insurance is a contract that allows the death benefit of a policy to be used as collateral, this is usually used in business loans (but also equipment, structured settlement buyouts and other loans).
A life (or viatical) settlement is the sale of a life insurance policy to a third party, such as an individual, investor or investment group.
MEG's primary areas of expertise include life insurance, life insurance settlements, insuring tough health issues, business insurance including business succession and key man life and disability insurance, as well as estate planning.
It can be slightly confusing to understand why life insurance is even used as part of a divorce settlement or decree at first.
Divorced parents can use life insurance to secure the financial future of their child as part of a divorce settlement with child support.
A life settlement is the purchase of a life insurance policy by a third party as an investment.
If you have a type of permanent insurance (cash value, whole life, etc.), selling your policy for cash is known as a «life settlement.»
Although states increasingly require that a life settlement should be disclosed as an option in all cases where lapsing the policy is being considered, there can be certain downsides to selling any life insurance policy.
The sale of a life insurance policy to a third party — for more than the policy's cash surrender value — is known as a life settlement transaction.
The following are not considered a settlement under state insurance regulations: • A loan from an insurer under the terms of the life insurance policy (e.g., a policy loan) • A loan from a third party where the policy's cash value is used as collateral (collateral assignment) • A beneficiary designation without a transfer of value • A beneficiary designation of someone with an insurable interest in the insured
As a policy owner, you do have some exit strategies when it comes to your life insurance policy — the underlying asset of life settlements.
The typical investors in life settlement portfolios are sophisticated entities such as banks, insurance companies, pension funds and hedge funds.
Six states — Kentucky, Maine, New Hampshire, Oregon, Washington and Wisconsin — have already passed various versions of a life insurance disclosure requirement, legally mandating that insurance carriers notify seniors in certain circumstances of the alternatives to lapse or surrender of their policy (e.g., accelerated death benefit or available riders, assignment of policy as a gift, life settlement, policy replacement, etc.).
Life Insurance Corporation posted claim settlement ratio of 97.73 per cent last fiscal, as compared to 97.42 per cent in 2011 - 12.
The life insurance settlement industry is one that has been the center of quite a lot of controversy in recent years, as the practice of investing in life insurance policies has heated up.