Sentences with phrase «contract owner surrenders»

A life insurance policy in which most of the expense charges occur when the policy owner or contract owner surrenders the policy or makes cash withdrawals from the policy.

Most have surrender charges that are assessed during the early years of the contract if the contract owner surrenders the policy; plus, there could be income tax implications.

Surrender charges may apply during the contract's early years in the event that the contract owner surrenders the annuity.

Because they are meant for long - term accumulation, most annuities have surrender charges that are assessed during the early years of the contract if the contract owner surrenders the annuity.

Most annuities have surrender charges that are assessed during the early years of the contract if the contract owner surrenders the annuity.

Not exact matches

Owners of fixed indexed annuities (FIAs) with guaranteed living income benefit (GLIB) riders are much less likely to surrender their contracts than they were 10 years ago, according to new research based on 3.3 million policyholders.

This value grows at a stated percentage rate and can provide an increase to the contract value at the earlier of the first owner's death or at the end of the surrender period.

Cash value life insurance, whether whole life, IUL, or VUL, allows for the tax - free growth of funds in a policy's cash account unless the policy is canceled or surrendered, transferred or assigned to another owner, or the IRS no longer designates the policy a life insurance contract.

Owners of fixed indexed annuities (FIAs) with guaranteed living income benefit (GLIB) riders are much less likely to surrender their contracts than they were 10 years ago, according to new research based on 3.3 million policyholders.

Gain on a full surrender Gain on partial distributions IRA distributions TSA / ORP distributions Correction of excess contributions to IRAs Conversion of IRA assets to a Roth IRA Gain on surrender of Paid Up Additions (PUAs)(Note: Automatic surrender of PUAs for Value Pay is not a taxable event) Processing of Non-Forfeiture Option (NFO) to Extended Term Insurance (ETI) or Reduced Paid Up (RPU) Interest earned on dividend accumulations Loan on a MEC Dividend used to reduce loan interest on a Modified Endowment Contract (MEC) Dividend used to reduce loan on a MEC Compound of loan interest on a MEC Gain recognized on lapsed contract with a loan Collateral assignment on a MEC Non-qualified Annuity (NQA) Collateral Assignments Special interest paid on money held too long Interest earned on advance premiums 1035 exchange without paying off loan first Earnings on non-individual owner contracts for which an exception under section 72 (u) of the Internal Revenue Code does nContract (MEC) Dividend used to reduce loan on a MEC Compound of loan interest on a MEC Gain recognized on lapsed contract with a loan Collateral assignment on a MEC Non-qualified Annuity (NQA) Collateral Assignments Special interest paid on money held too long Interest earned on advance premiums 1035 exchange without paying off loan first Earnings on non-individual owner contracts for which an exception under section 72 (u) of the Internal Revenue Code does ncontract with a loan Collateral assignment on a MEC Non-qualified Annuity (NQA) Collateral Assignments Special interest paid on money held too long Interest earned on advance premiums 1035 exchange without paying off loan first Earnings on non-individual owner contracts for which an exception under section 72 (u) of the Internal Revenue Code does not apply

If an annuity owner withdraws money from the contract in its early years (usually about six to eight years after purchase), the insurance company will impose a surrender charge on any amount that exceeds the annual free withdrawal amount (which is usually about 10 %).3

The amount an insurance company pays (minus any surrender charge) to the VA owner when the contract is voluntarily terminated prematurely.

Once the profile and surrender contract are complete, the surrender appointment is complete and the owner can leave.

In Madrid, a dog that often played with Excalibur was surrendered to a shelter by his owners because of fears he might have contracted the disease.

In municipalities that contract their animal control duties out to a private agency, those contracts are often numbers - based, with the contracting agency being paid according to the number of animals entering the shelter, giving them an even greater incentive to levy enforcement fines that lead to owner surrenders.

They accept owner - surrendered animals, as well as all stray animals from those communities with which They have an animal control - housing contract.

We also take animals from owners under certain circumstances — such as foster space availability, and always have a signed Incoming Pet Profile and Owner Surrender Contract, giving ownership of the animal to ANBAR.

At the point you surrender your golden to AGK, you will sign an Owner Release Contract.

An MVA only applies when the policy owner surrenders or makes a withdrawal from the contract that is greater than the surrender charge free withdrawal amount during the surrender charge period.

Surrendering a life insurance policy means that the insurance company will cancel the contract and send any of the cash in the policy to the policy owner.

The cash surrender value is the sum of money an insurance company pays to a policyholder or an annuity contract owner in the event that his or her policy is voluntarily terminated before its maturity or an insured event occurs.

[x] Different ways that can be used by a contract owner by which he can apply for cash surrender value of an insurance or annuity contract due to any lapse.

Cash value life insurance, whether whole life, IUL, or VUL, allows for the tax - free growth of funds in a policy's cash account unless the policy is canceled or surrendered, transferred or assigned to another owner, or the IRS no longer designates the policy a life insurance contract.

This means that the life insurance coverage will no longer exists, no more premiums will be due, and the amount of the cash surrender value will be sent to the owner of the contract.

The owner is also the only person who can surrender the contract, regardless of whether or not the insured person wishes the policy to exist.

If the policy is surrendered during the life of the contract the owner will receive the sum of the cash surrender value, even though the insured is not deceased.

Policyholder is the owner of the contract, he only has to surrender.