Sentences with phrase «assets for insurance purposes»

Not exact matches

Many banks will also require a borrower to insure an asset being purchased over the course of a loan (with an insurance policy acquired for that purpose), to protect the value of the asset being purchased with the loan proceeds.

Generally, for tax and asset protection purposes, it is better strategy to have the ILIT purchase the life insurance rather than transferring an existing policy to it.

Investments / Insurance: Not FDIC Insured • Not Bank Issued, Guaranteed or Underwritten • May Lose Value The video commentaries presented on this page are provided for informational purposes only by USAA Asset Management Company (AMCO) and / or USAA Investment Management Company (IMCO), both registered investment advisers.

A key advantage of an ILIT as compared to personally owning the insurance policy is that if the trust is set up and administered correctly, the assets owned by the ILIT will not be considered part of your estate for federal inheritance / estate tax purposes — meaning your heirs won't have to pay estate or inheritance taxes on the life insurance death benefits that are paid.

Two asset protection benefits are, one, that an irrevocable trust may be set up for the employee to own the policy, such as an irrevocable life insurance trust OR another type of grantor trust, and this can assure that the policy will not be included in the employee's taxable estate for split dollar estate planning purposes.

· additional information for identity matching and credit check purposes, such as occupation, name of employer, names and contact information for references, assets, liabilities, income, previous address, number of dependents, Social Insurance Number (if provided), date of birth or driver's license number;

Thus, a whole life insurance policy leverages a portion of your financial resources for the sole purposes of providing a legacy to your beneficiaries, while still maintaining control of your assets.

A very common strategy with ILIT's, is to use your annual gift tax exclusion to effectively remove assets from your estate and the trustee can then use the funds to purchase a life insurance policy for the sole purpose to pay your federal estate tax bill.

The Universal Life Insurance plans we offer have been designed to help meet the life insurance needs and financial goals of many clients - including individuals whose focus is on death benefit protection for estate planning, retirement, and asset preservation Insurance plans we offer have been designed to help meet the life insurance needs and financial goals of many clients - including individuals whose focus is on death benefit protection for estate planning, retirement, and asset preservation insurance needs and financial goals of many clients - including individuals whose focus is on death benefit protection for estate planning, retirement, and asset preservation purposes.

The main purpose of this extra insurance is to protect your assets from an unforeseen event, such as a tragic accident in which you are responsible for damage or bodily injuries.

The latter half explores the complex world of captive insurance companies into which, through dizzying financial machinations and subterfuges, insurance companies create subsidiaries into which they funnel assets for tax and regulatory purposes.

Without life insurance, hard earned assets and savings that were intended for other purposes may have to be used for paying off debt, funding living costs, or paying the high cost of one's final expenses — which today can average more than $ 10,000 in some areas.

Our goal is that this guide will offer you some insight about what to look for when shopping whole life insurance companies for the purpose of obtaining a superior tax advantaged asset and noting those companies that tend to outshine the others.

Two asset protection benefits are, one, that an irrevocable trust may be set up for the employee to own the policy, such as an irrevocable life insurance trust OR another type of grantor trust, and this can assure that the policy will not be included in the employee's taxable estate for split dollar estate planning purposes.

Generally, for tax and asset protection purposes, it is better strategy to have the ILIT purchase the life insurance rather than transferring an existing policy to it.

The purpose of an endowment plan is to force regular savings, create an asset for a long - term liability or expenditure, and provide life insurance to cover the specific liability if you die prematurely.

My ability to perfectly understand medical terminology has proven to be an asset to me when performing clerical tasks such as collecting patient information, distributing prudent information to ancillary departments, interviewing patients for admission purposes and providing insurance and claim information.

(c) To the extent necessary to protect an award of child support, the court may order the obligor to purchase or maintain a life insurance policy or a bond, or to otherwise secure the child support award with any other assets which may be suitable for that purpose.