Sentences with phrase «instead of policy loans»

If you happen to close the account (not recommended) or take withdrawals instead of policy loans, you will pay taxes on the growth.

Note though, if you happen to close the account (not recommended) or take withdrawals instead of policy loans, you will pay taxes on the growth.

Not exact matches

Abeiku Santana also took his gun on parliament because he felt they only spend majority of their discussions, on loans instead of discussing policies that will alleviate the poverty of Ghanaians.

Instead of producing a series of measures in a panic - stricken way, as the Government have done in recent months, would it not have been better if they had speedily adopted our policy of a # 50 billion loan guarantee scheme for businesses of all sizes, and had shown some competence in getting it into practice at the speed required?

This means working to get the Board of Governors to reverse its policy that caps financial aid and instead challenging members to address student loan debt once and for all.

Instead of «loan life insurance,» why not consider a general life insurance policy, which can provide your family a means to handle any of your remaining debts and expenses when you pass; rather than being applied to only one specific loan, general life insurance can be used for any expenses your family needs.

Your report may vary based on which bureau it is taken from so it's a good idea when you apply for a loan to know which bureau the lender will pull your report from if they have a policy where they only perform a hard pull from one or two instead of all three.

If, instead of an IRA you had an IUL policy loan for $ 40,000 per year, your taxable income would be zero because you would be under the base limit.

Instead of withdrawing the cash, a policy loan can be taken out.

Must provide variance in terms of interest rates instead of a flat policy across all loan applicants.

In case of a financial crunch, instead of surrendering your policy mid-way through your goal realization, you can easily avail loans by putting your life insurance policy up as a collateral.

Most insureds choose to take a tax - free loan from the policy instead of the withdrawal.

If instead of an IRA you had an IUL policy loan for 40k per year, your taxable income would be zero because you would be under the base limit.

Instead of relying on policy loans from permanent insurance, segregated funds can provide for these emergencies.

Additionally, you can borrow money against the cash value of your whole life insurance policy instead of taking out a loan elsewhere.

Fortunately, the «good» news is that the policy loan tax bomb can be avoided by actually holding the life insurance policy until death — allowing the loan to be repaid from the tax - free death benefit, instead of the (taxable) surrender of the policy.

In other words, technically when a life insurance policy loan occurs, the death benefit is not actually reduced (which means the cost - of - insurance charges don't decline for any reduction in the amount - at - risk to the insurance company); instead, the insurance company simply recognizes that any final death benefit to be paid will be reduced first by the repayment of the loan balance.

Instead, if / when the outstanding loan balance reaches (or gets «too close») to the remaining cash value, the insurance company forces a liquidation of the insurance policy, and uses the cash value proceeds to repay the loan.

Instead of taking a personal loan, he surrenders his policy and receives the complete Fund Value available as on the date of surrender.

Instead of cashing a life insurance policy or selling your life insurance policy it may be prudent to take a loan from your policy if the «loan value» is sufficient to meet your financial needs.

Instead, it is necessary to specifically request a version of the life insurance policy that can accept an incoming loan — which at many companies, are dubbed «life insurance loan rescue policies» because they are used for this exact purpose.

Meaning - if you're going to pay that money back to your life policy, factor it into your calculations as a loan instead of cash.

Instead of worrying about rising payments, buyers who opt for a loan with mortgage insurance and whose homes appreciate sufficiently to allow cancellation of their mortgage insurance might actually be able to lower their payments or receive a partial policy refund in the case of single - premium mortgage insurance.