Sentences with phrase «excess amount of premium»

This excess amount of premium goes into the cash value portion of the policy.

Not exact matches

In particular, we note that the EI premium rate will be reduced, together with the creation of a net - zero rate setting mechanism for EI premiums, with excess amounts returned to employers and employees.

But even if the returns to RSML end up amounting to no more than $ 20 million per annum, the total take will be in excess of $ 1 billion over the lifetime of the contract if increases in the levy merely tracks inflation in insurance premiums over the last decade.

Increased Retiree Health Insurance Premium - Sharing: While most employers — public and private — do not reimburse retirees for the cost of Medicare Part B premiums, New York State pays for the standard premium and the Income - Related Monthly Adjustment Amounts (IRMAA) levied on high - income retirees (couples with incomes in excess of $ 170,000 per year).13 Under the Governor's proposal, the State would cap the amount retirees are reimbursed at current levels and discontinue IRMAA reimbursements for those most able to afford the costs of health insurance.

These guidelines are designed to limit the amount of excess premiums a policyholder can pay into the policy, and gain from the tax - favored treatment of life insurance proceeds.

The amount of excess premiums that can be paid under option A is also more limited.

Also, any amount you receive in excess of the premiums you've paid over time is generally considered as taxable income by the IRS.

The guidelines were established to set limits on the amount of excess premiums a policyholder could contribute to a policy for benefiting from the tax - advantaged status of proceeds from life insurance and avoid a modified endowment contract (MEC).

The actual amount of the credit itself is the excess of the premium cost for a «benchmark plan» above the threshold amounts as determined from the chart above.

Notably, these limits only apply if the amount of advanced tax credits was too high, such that the taxpayer was overcredited and needs to pay back the excess amounts received; if the credits were too low, there is no limit on what the taxpayer can receive in additional credits when the tax return is ultimately filed (beyond the limits of the premium assistance tax credit itself) in the event that income dropped significantly and a higher credit was due.

Second, if a policy lapses or is surrendered with an outstanding loan, and the amount of the loan plus the cash surrender value is more than the sum of premiums paid, the excess will be taxable.

The interest goes toward reducing your premiums, with the excess amount, after funding the cash - value and the carrier's take, going to a modest increase in the growth of the cash value.

During 2007 through 2014 the average annual cost of these claims was $ 5,935 per civil litigation practitioner, an amount far in excess of what was collected in premiums (including civil litigation transaction levies).

But having the facts, such as knowing the effective rate of return required when investing excess premiums (above the level term premiums) to accumulate an amount equal to100 % of the premiums for the ROP option, is critical to determining which policy is best.

Accordingly, a QLAC may provide for a single - sum death benefit paid to a beneficiary in an amount equal to the excess of the premium payments made with respect to the QLAC over the payments made to the employee under the QLAC.

If the accident results in injuries or damages in excess of a certain amount, often $ 750 — it varies by company — you're likely to see an increase your premiums.

All money in excess of the total amount of premiums you've paid represents the amount of money that will be subject to taxation.

The gains are represented by any amount of money in excess of the total premiums you've paid into the policy.

If the amount of premium paid in a financial year for a policy is in excess of 20 % of the actual capital sum assured, then deduction will be allowed only for premiums up to 20 % of the sum assured.

If an annuity contract fails to be a QLAC solely because premiums for the contract exceed the premium limits, either percentage or amount, then the contract will not fail to be a QLAC if the excess premium is returned to the non-QLAC portion of the IRA owner's or employee's account by the end of the calendar year following the calendar year in which the excess premium was paid.

If the policy is surrendered for its cash value only the excess of the cash value over the amount of premiums you have paid less dividends is taxable.

Also, if you take a partial withdrawal from the cash value of your policy in an amount greater than your total premiums, the withdrawal in excess of your total premiums is considered taxable income.

Another possibility is for the employer to receive back only the premiums advanced and the employee to receive the cash value in excess of this amount (the equity in the policy).

Your insurance company will invest the money while you have the policy, earn an excess return on your higher premiums, and then be able to return the exact amount that you paid at the end of the policy.

Navy Mutual invests your premiums in high - quality, sound investments, and this accumulates value on amounts in excess of the cost of the life insurance.

The premium paid in excess of this amount can not be claimed as deduction.Single premium life insurance policies should not exceed 10 % of the sum assured or the sum assured should be at least 10 times the single premium paid.

If desired, the death benefit could be frozen at $ 180,071 (year 20), and the dividend amount in excess of the gross premium could then be paid in cash.

Increasing your voluntary excess (the amount you volunteer to pay to get a claim started, on top of the policy's compulsory excess) will bring down your premiums.

336 DOS 97 Matter of DOS v. Reyes - accounting to client; deposits; DOS fails its burden of proof; licensee violates 19 NYCRR 175.1 by depositing rents in the management of client's business into his operating account; licensee fails to fully account for insurance proceeds and pays himself management fees well in excess of amount agreed to; DOS fails to prove licensee wrongfully closed client account, improperly monitored charges assessed in the operation of client's apartment business and failed to pay insurance premiums; broker required to refund excess commissions earned plus interest and to fully account for monies claimed expended for maintenance and repair; broker's license is suspended for 6 months and until such time as proof submitted of refund of excess commissions and accounting