Sentences with phrase «have a life insurance policy as»

Even if you are not providing a primary source of income, such as a stay - at - home parent, you should have a life insurance policy as well.

Having a life insurance policy as part of your employer - sponsored benefits can be one way to get low - cost supplemental protection for the people who depend on you for financial support.

Not exact matches

Please note that when you borrow money from a life insurance policy, it doesn't show up as income and has no impact on financial aid or the tax rate on Social Security benefits.

CBA is seen as a stable part of life in the country of 24 million where most people have had a mortgage, insurance policy or regular savings account with CBA at some point - often starting with its famed «Dollarmites» deposit account for school children.

While it's always recommended that families meet with a financial advisor to decide what level of life insurance protection would benefit them the most, a supplemental policy could act as a financial safety net, providing much needed normalcy during a very difficult time.

This has the impact of providing you cash as well as reducing the life insurance policy's death benefit.

Buying paid - up additions is similar to buying a small single - premium life insurance policy as you increase the policy's cash value and death benefit but don't have ongoing payments.

(a) Schedule 2.7 (a) of the Disclosure Schedule contains a list setting forth each employee benefit plan, program, policy or arrangement (including any «employee benefit plan» as defined in Section 3 (3) of the Employee Retirement Income Security Act of 1974, as amended («ERISA»)(«ERISA Plan»)-RRB-, including, without limitation, employee pension benefit plans, as defined in Section 3 (2) of ERISA, multi-employer plans, as defined in Section 3 (37) of ERISA, employee welfare benefit plans, as defined in Section 3 (1) of ERISA, deferred compensation plans, stock option plans, bonus plans, stock purchase plans, fringe benefit plans, life, hospitalization, disability and other insurance plans, severance or termination pay plans and policies, sick pay plans and vacation plans or arrangements, whether or not an ERISA Plan (including any funding mechanism therefore now in effect or required in the future as a result of the transactions contemplated by this Agreement or otherwise), whether formal or informal, oral or written, under which (i) any current or former employee, director or individual consultant of the Company (collectively, the «Company Employees») has any present or future right to benefits and which are contributed to, sponsored by or maintained by the Company or (ii) the Company or any ERISA Affiliate (as hereinafter defined) has had, has or may have any actual or contingent present or future liability or obligation.

Cash value life insurance policies are typically permanent, meaning you have coverage for the entirety of your life so long as premiums are paid.

This is why we would typically recommend accidental death and dismemberment insurance as a supplement or rider to traditional life insurance, but not as a standalone policy.

Permanent life insurance policies, such as whole and universal life insurance, offer lifelong coverage and typically have a cash value component.

A life insurance policy is as important as having savings.

You don't have to watch your savings rapidly dry up as you do with many other income sources — such as life insurance policies or annuities.

As the seller, you would also be subject to taxes on the sale of your life insurance policy.

Just make sure that the term policy will definitely cover the entire length of a financial obligation, as you'll have a harder time finding coverage and have to pay higher rates if you still need life insurance at age 80 or 90.

Since the growth of your policy's cash value is tax - deferred, variable life insurance might be a good consideration if you've maxed out your retirement account contributions, have a sizable portfolio of more liquid assets (such as in your brokerage and savings accounts), and are looking for an additional investment vehicle that also offers coverage to your dependents should anything happen to you.

Short term life insurance policies, such as those with 1 - year or 5 - year terms, often have the option of being renewable, meaning that at the end of the term you can purchase the same coverage again without a new application process.

Realizing that such an award would be rejected out of hand by a judge, Sparks moderated her demand, and Payton agreed to contribute $ 5,550 a month in child support, establish a $ 175,000 college trust fund and purchase a $ 1 million life insurance policy naming the child as beneficiary.

They've left nothing to chance — except underestimating the steely determination of Alice Creed (Gemma Arterton, The Prince of Persia), daughter to a millionaire who've they've kidnapped as their insurance policy to ransom $ 2million to buy a better life.

This is when Coverage D in your home insurance policy kicks in, better known as loss of use (LOU) or additional living expenses (ALE) coverage.

In a nutshell, while most whole life insurance is fixated on maximizing the death benefit of a policy and just allowing cash values to grow over time, strategic self banking focuses on maximizing life insurance cash values, so the whole life insurance plan can be used strategically as a savings and personal financing vehicle for the purpose of recapturing your cost of capital incurred when having to deal with third party lenders or using your own cash.

As you go through this exercise, you should also consider what other resources you may have to fall back on, such as cash value in life insurance policies or home equity that you could convert to income via downsizing or a reverse mortgagAs you go through this exercise, you should also consider what other resources you may have to fall back on, such as cash value in life insurance policies or home equity that you could convert to income via downsizing or a reverse mortgagas cash value in life insurance policies or home equity that you could convert to income via downsizing or a reverse mortgage.

While these products are all structured differently, the term and whole life insurance policies would fall within the category of final expense insurance, as they have limited payouts that are better suited to covering end - of - life costs than income replacement.

As an added benefit, the life insurance death benefit of the new hybrid policy would pay off her mortgage if she passed away, assuming she didn't use the policy for long - term care.

Cash value life insurance policies are typically permanent, meaning you have coverage for the entirety of your life so long as premiums are paid.

This has the impact of providing you cash as well as reducing the life insurance policy's death benefit.

The Grow - Up Plan is a fairly typical whole life insurance policy, as it has level premiums and builds cash value, but there are a few key differences:

Buying paid - up additions is similar to buying a small single - premium life insurance policy as you increase the policy's cash value and death benefit but don't have ongoing payments.

Another thing you should do that can save you time during the actual process, is to have copies of pay stubs, two year's worth of tax returns, bank statements, other assets like stock, bond or life insurance policy as well as information on your outstanding debts.

Your might not have known that your life insurance policy can double as life insurance and an investment tool for your retirement planning!

As an endowment life insurance policy, however, Gerber's College Plan has several key differences compared with other college savings alternatives, such as 529 planAs an endowment life insurance policy, however, Gerber's College Plan has several key differences compared with other college savings alternatives, such as 529 planas 529 plans.

It's simple to borrow against the cash value of a permanent life insurance policy as there are no loan requirements or qualifications aside from the amount of cash value you have available.

In addition, the Grow - Up Plan is similar to other whole life insurance policies in that it will often take three to four years before you have any cash value, as early premium payments are dedicated to paying the insurer's fees.

If you have a permanent life insurance policy that accumulates cash value, you can borrow money from the insurer using the cash value as collateral.

If a life insurance policy was taken out for you by a third - party, such as an employer or family member, then it would not be a direct term life insurance policy.

Life insurance policies have a variety of tax benefits, such as the death benefit paid to beneficiaries being free of income tax.

However, if the actual time to profitability is 7 years instead of 5 years, as planned, the business owner may want to renew their life insurance policy to make sure any debts would be covered.

Wealthy Canadians have been using 10/8 arrangements for the last decade or so as a means to have the government subsidize their extremely large life insurance policies.

As part of this commitment to best - in - class apartment community management, Peak Living and Effective Coverage have partnered to provide renters insurance policies.

However, if you're a senior and have had a medical condition for over 2 years that's well managed, such as diabetes, their whole life insurance policy is a strong option.

The logic goes that the main selling point of whole life insurance — that you get an insurance policy along with a cash - value component that acts as forced savings — is actually a poor decision, and you'd be better off buying a cheaper term life insurance policy and investing the money you save elsewhere with a better return and lower fees.

The person living in the apartment still needs renters insurance for them as an individual, even if the company leasing the unit has a commercial policy.

Even if some policies have a cash - value component, you run into the same problem as other cash - value policies like whole life insurance, where you may end up with a sub-optimal investment option.

Now that I've made my case for why I think Han Solo was a term life policy owner, let me suggest what might have happened if he had chosen the better option to invest in life insurance as an asset.

Yes, as long as you've purchased a convertible term life insurance policy.

Similarly, assets such as life insurance policies and qualified accounts such as IRAs and 401 (k) accounts must have completed beneficiary designations that either specify your living trust or an individual beneficiary.

I bought a whole life policy over 20 years ago, the policy converted to MEC status, the insurance agent advertised the product as a tax - deferred saving product with a life insurance component.Could you provide me with any advice on how I can have the MEC status reversed?

If this is the case, we would recommend term life insurance as it's the cheapest type of policy and offers for a particular amount of time.

Investing in other life insurance policies such as universal life and whole life, which are designed to accumulate cash, have other problems.

If you've maxed your RRSP contributions, for instance, putting funds into your personally owned life insurance policy is another way of accumulating savings that grow tax - free (although your initial contributions are not tax - deductible, as RRSPs are).