Sentences with phrase «benefits of a life insurance policy»

Many states have laws protecting cash values and death benefits of life insurance policies from the claims of creditors.

The purpose of the trust is to separate the death benefit of your life insurance policy from your child's personal assets.

A successor beneficiary is the person who receives the death benefit of a life insurance policy in case the primary beneficiary dies first.

The living benefits of life insurance policies can be an important part of fulfilling this responsibility, in addition to providing a death benefit if the worst were to occur.

We can work with you beyond that to help you use the tax - related features and benefits of your life insurance policy while you're still alive.

If death occurs, the beneficiary generally collects the death benefit of the life insurance policy free of income tax.

In some cases, the policyholder needs may exceed the total benefit of the life insurance policy.

One major benefit of a life insurance policy is that it covers the cost of a funeral.

The death benefit of a life insurance policy which is the amount the beneficiary receives when the insured person dies.

You can put the death benefit of any life insurance policy toward funeral expenses, but there's also final expense insurance for people who don't need income replacement.

The transfer - for - value rule refers to a legal ruling declaring the death benefit of a life insurance policy transferred for some sort of material consideration as partially or fully taxable.

Different key benefits of life insurance policies are death benefit, maturity benefit, tax benefit etc..

Please note that this then makes the otherwise tax free death benefit of the life insurance policy subject to estate taxes and would also be subject to the delay and expense of probate.

The living benefits of life insurance policies can be a life - saver in extreme situation.

These benefits may include death benefits of a life insurance policy.

The death benefit of any life insurance policy with properly namedbeneficiary is federal tax free.

So to understand the tax benefits of life insurance policies better he decides to seek advice from Sanjeev - a friend of his who worked as a financial consultant.

There are many types of life insurance, with varying benefits, but the main benefit of a life insurance policy is that it will pay the face amount — the amount of the policy — to the beneficiary if you pass away while the policy is in force.

With estate planning, the general goal is to removed assets from the taxable estate and at the same time have the tax free death benefits of a life insurance policy pay eventual estate taxes.

Half of those surveyed liked the idea of having extra cash available to supplement their retirement money and more than one in five said funds to pay for college was their favorite additional benefit of life insurance policies.

As the death benefits of life insurance policies present you with an effective means to provide for your surviving dependents, you also want to consider unforeseen expenses that might crop up as you age.

While most of the young people ignore life insurance policy as they relate it with an advanced age, but they don't realize the endless benefits of life insurance policy offered to young buyers.

The first person (s) to receive the death benefits of a life insurance policy in the event that death occurs while the policy is in force.

But if you have enough wealth for your estate to be taxed - at either the state or federal level - you should consider the tax benefits of a life insurance policy to help provide funding to pay estate taxes by reducing or even eliminating them.

A viatical settlement company or provider is a company or a person which purchases death benefits of life insurance policies from ill person less than the expected amount of death benefits.

The Living Benefits Rider, standard with most policies we offer today and at no additional cost, allows you to access, tax - free, up to 95 % of the death benefit of your life insurance policy while you are still alive following a «qualifying event.»

Living benefits of a life insurance policy are benefits provided to and obtained by those insured, while still alive.

One major advantage of a cross-purchase agreement is that it protects the death benefit of the life insurance policy from creditors or lenders.

Do ask yourself: If today I gave you a check in the amount of the death benefit of the life insurance policy you're considering, would you quit your job and work free for me until you die?

As the OSC noted, investment contracts have been found in Canadian and U.S. cases in arrangements as diverse as the use of solar panels, in proprietary software that would generate profits based on volatility, in fractional interests in death benefits of life insurance policies, in dental services sold by the promoter under sales agency agreements, in arrangements to share in the ownership and revenue from blood alcohol testing machines in pubs and even in payphones (remember those?).

A majority of Americans understand the death benefit of a life insurance policy, but most are unclear about the many other tax benefits, particularly with permanent life insurance.

Although creditor protection is one of the benefits of a life insurance policy, it is only available under specific circumstances and there are many exceptions.

Under IRC Section 2035, the death benefit of a life insurance policy can still be included in the owner's estate for three years if the policy is gifted to an Irrevocable Life Insurance Trust (ILIT).

Instead of taking the Death Benefit of a life insurance policy all at once as a lump sum, it's also possible to receive the policy's payout in regular installments.

The death benefit of a life insurance policy is the amount paid out upon the death of the insured, while cash value refers to the amount of funds in a permanent life insurance policy's cash account.

The features and benefits of this life insurance policy are as follows:

The benefits of a life insurance policy can be earmarked to pay state taxes so that your heirs will not have to liquidate other assets to do so.

Following are the features and benefits of this life insurance policy:

Typically, the death benefit of a life insurance policy is not subject to income tax.

A majority of Americans understand the death benefit of a life insurance policy, but most are unclear about the many other tax benefits, particularly with permanent life insurance.

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.

Tax advantages - In general, the death benefit of a life insurance policy is tax - free upon receipt so it can be an extremely efficient way to transfer wealth.

It quite literally will accelerate a portion of the death benefit of your life insurance policy to you, even when you're still alive.

The person you choose to receive the death benefits of your life insurance policy is the beneficiary.

A good rule of thumb is that you should incorporate around six months of lost income into the benefits of the life insurance policy.

Raising a child alone is a difficult task, and the death benefits of a life insurance policy can help alleviate some of the stress from an already - difficult situation.

If death occurs, the life insurance beneficiary generally collects the death benefit of the life insurance policy, free of income tax.

During the last four decades, a popular way to purchase permanent life insurance has been through so - called «split - dollar» life insurance arrangements, where two or more parties share the costs and benefits of the life insurance policy.

If the suicide occurs after the exclusion period, then the Death Benefit of the life insurance policy will be distributed, provided no other exclusions apply (such as premiums not having been paid).

The Beneficiary is the person the insured chooses to receive the death benefit of the life insurance policy.