Sentences with phrase «by insurance policy proceeds»

In the event that the borrower dies while the policy is in force, the debt is automatically satisfied by insurance policy proceeds.

Not exact matches

If a contingent or secondary beneficiary is not named, the life insurance proceeds will be paid to the estate of the policy owner by default.

Therefore, life insurance proceeds that fall into the policy owner's estate can still be collected by creditors.

In the event that the borrower dies while the policy is in force, the debt is automatically satisfied by insurance proceeds.

In the event that the borrower dies while the policy is in force, the mortgage debt is automatically paid by insurance proceeds.

Beneficiary: A person (s) designated by the policy owner to receive the proceeds of an insurance policy upon the death of the insured.

If you transferred your life insurance policy to Irrevocable Life Insurance Trust (ILIT) within three years before your death, the proceeds from the policy will still be included as part of your taxable estate when calculating the estate tax payable byinsurance policy to Irrevocable Life Insurance Trust (ILIT) within three years before your death, the proceeds from the policy will still be included as part of your taxable estate when calculating the estate tax payable byInsurance Trust (ILIT) within three years before your death, the proceeds from the policy will still be included as part of your taxable estate when calculating the estate tax payable by the IRS.

That is because the proceeds from a life insurance policy can be used for paying off large debts, ongoing living expenses by the insured's survivors, and for the high cost of the insured's funeral and other final expenses.

Mortgage Life Insurance A type of term life insurance In the event that the borrower dies while the policy is in force, the debt is automatically paid by insurance Insurance A type of term life insurance In the event that the borrower dies while the policy is in force, the debt is automatically paid by insurance insurance In the event that the borrower dies while the policy is in force, the debt is automatically paid by insurance insurance proceeds.

Unless you name your estate as your beneficiary, or purchase the policy as a third party, these insurance proceeds will also be non-taxable by the IRS or state agencies.

Several factors could undermine the financial security provided by the proceeds of your life insurance policy.

If the item in question is already covered by a primary insurance policy, you must first submit a claim with them before proceeding to the credit issuer.

Issues related to interpretation of UCC provisions relative to right to payment of «proceeds» on insurance policy after collateral was destroyed by fire.

Beneficiary: A person (s) designated by the policy owner to receive the proceeds of an insurance policy upon the death of the insured.

Therefore, by also having a pre-need funeral policy or burial insurance coverage also in place, the decedent can be assured that final costs are paid and that the other life insurance policy's proceeds will also be used for their original intended purpose.

All of the proceeds from a burial insurance policy can be used by the beneficiary, too, because life insurance proceeds are free of income taxation to the recipient.

The death benefit proceeds, as with other life insurance policies, are received by the company on a tax - free basis.

Because life insurance policies are paid with after - tax dollars, the life insurance proceeds are not taxable when received by beneficiaries of business owners or employees.

The eligible life insurance proceeds are equal to a percentage of the policy face amount or up to a total of $ 250,000 from all policies and riders on the insured issued by this company.

The mortgage protection life insurance offered by Globe Life can provide up to $ 350,000 in proceeds via an accidental death and dismemberment insurance policy.

Those life insurance rates quoted by the bank are for a policy that lasts the length of the loan and which lists the bank as beneficiary, ensuring that proceeds are used to pay off the mortgage should you pass away unexpectedly.

Prior proceeding to the details of the process of policy, it is important know what are the policies covered by max life insurance.

As with other types of life insurance, the proceeds that are received via a final expense policy can be obtained free of income taxation by the beneficiary — and they can be used for any need that they see fit.

By moving ownership of the life insurance policy out of the insured's ownership and into the ownership of a trust, for instance, the value of the policy's proceeds will not be included in the insured's total estate — and he or she will therefore not owe taxes on this amount.

As he continues with the details, he starts becoming agitated and proceeds to tell you that because you didn't notify your insurance company before you became a rideshare driver to discuss coverage options, your policy has been canceled by the company.

This is because the proceeds that are received from a life insurance policy may be used by survivors for paying off debt, continuing to pay ongoing living expenses, or for any other need.

This is because the proceeds from a life insurance policy can be used for a variety of needs by one's loved ones and survivors, such as the payoff of debt, the continuation of income, and / or the keeping of promises, such as paying for a..

That is because the proceeds from a life insurance policy can be used for paying off large debts, ongoing living expenses by the insured's survivors, and for the high cost of the insured's funeral and other final expenses.

The proceeds that are received by the beneficiaries of a life insurance policy are able to receive the funds free of income taxation.

This is because the proceeds from a life insurance policy can be used for a variety of needs by one's loved ones and survivors, such as the payoff of debt, the continuation of income, and / or the keeping of promises, such as paying for a child's wedding or down payment on a home.

By making a charity the named beneficiary of your life insurance policy, the organization will be able to receive the face amount of the policy proceeds tax free.

In doing so, it is important to note that even though life insurance policy proceeds are received income tax free by the beneficiary, these proceeds could be subject to possible estate taxation.

It is a life insurance benefit wherein the proceeds are payable to the beneficiary only if the insured dies by accident within the policy term.

In this case, individuals and families can help prevent financial difficulties related to school loans by having the debt paid by the proceeds from a term life insurance policy.

One reason is the proceeds that are received from a life insurance policy are received free of income tax by the beneficiary (or beneficiaries), and the money may be used..

One reason is the proceeds that are received from a life insurance policy are received free of income tax by the beneficiary (or beneficiaries), and the money may be used for any need that he or she sees fit.

The Corporation's book value shall be equal to the excess of the book value of the total assets of the Corporation, including any proceeds of insurance policies / excluding the proceeds of any insurance policies owned by the Corporation on the lives of its shareholders, over the book value of the Corporation's total liabilities, excluding the Corporation's liability under this Agreement to purchase the shares for which the purchase price is being measured, based on the Corporation's books and records.

If both Jim and Tina became deceased their oldest child would receive the proceeds from the life insurance policy because their oldest child was chosen by Jim and Tina as the contingent or secondary beneficiary.

Beneficiary: the person named by the policy owner to receive the proceeds from the insurance policy once the policy owner is deceased.

This is because the proceeds that are received from a life insurance policy by survivors are obtained free of income taxation, and these funds can be used for a wide range of unique needs.

These expenses could be paid off by loved ones using the proceeds of a life insurance policy.

One of the biggest reasons for this is because the proceeds from a life insurance policy may be used for any number of reasons by the beneficiary.

You could have the policy owned by a life insurance trust, therefore separating the $ 1 million death benefit proceeds from your estate.

For instance, if a life insurance policyholder dies and her remaining family members are unaware of the existence of the policy, the proceeds should eventually be delivered by the insurer to the state, which can then distribute them.

By purchasing a life insurance policy with the name of a charity as the beneficiary, individuals can provide tax free proceeds to a cause that they care about.

Unless you name your estate as your beneficiary, or purchase the policy as a third party, these insurance proceeds will also be non-taxable by the IRS or state agencies.

The proceeds of term life insurance are received by the policy's beneficiary free of income taxation.

A nominee is the person designated by the policyholder to receive the proceeds of an insurance policy, upon the death of the insured.

Rather than burden those who were so willing to help you in a time of need with this debt if you died, your life insurance policy proceeds can be the best way to say thank you in the end by relieving them of any obligation to pay the loans back on their own.

Most proceeds from a life insurance policy can be used for a broad range of items that are needed by survivors.