Sentences with phrase «insurance policy implications»

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Many married couples own life insurance on each other versus owning their own policy to avoid possible tax implications.

Taking money from your retirement account or tapping the cash value of your life insurance policy to pay bills or living expenses may have serious implications you haven't considered, so try to get advice from an expert before you take any major financial actions.

The tax implications of changing life insurance policies can be overwhelming.

Many married couples own life insurance on each other versus owning their own policy to avoid possible tax implications.

Certain cash value life insurance policies can become modified endowment contracts if they're paid - up over a shortened period, which can have negative tax implications.

Other topics include credit car rental car coverage, how to add «riders» to policies, the privacy implications of «pay - as - you - drive» insurance, increased FDIC deposit insurance, rental insurance and news of a new insurance web site created by Consumer Action.

The implication of this is that, the fact that you buy a home insurance policy is not a guaranty that your house is adequately covered.

That has long - term implications, and your insurance company only has a duty to defend you until the policy limits have been paid in a settlement of some sort.

It is either they don't know its implications at all or they don't know the Continue ReadingThe Risks of Driving with No Car Insurance Policy →

Traditional insurance policies may offer a limited amount of coverage for cyber-related exposures, but it is important to understand the implications of relying on coverage that is not necessarily designed for a specific exposure.

Normally, policy loans are tax free, but you need to confirm this with your insurance advisor because the tax implications may differ from one state to another.

Consult your tax advisor to learn more about the tax implications of borrowing against your life insurance policy and determine whether such a loan is right for you.

Again, be sure to consult with your life insurance agent, so you know all the implications of your particular policy.

Section 1035 of the IRS code permits you to transfer the cash value of an existing life insurance policy to a new policy similar in type... and the best part is there are no tax implications to do so!

The reason being is that structuring a business owned life insurance policy with a personal beneficiary will cause tax implications that should be avoided.

Cambridge Systematics (2006), Mileage - Based User Fee Demonstration Project: Potential Public Policy Implications of Pay - As - You - Drive Leasing and Insurance Products, Final report 2006 - 39C, Minnesota Department of Transportation (www.lrrb.org); at www.lrrb.org/pdf/200639C.pdf.

While it is important to consider both the tax implication and death benefit considerations when borrowing funds from a life insurance policy, there are many viable reasons why a policy holder would want to do so.

There are also potential tax implications attached to the sale of a life insurance policy.

If you have a pet, be sure to discuss the implications with an insurance representative before purchasing a policy so that you can be sure you have the appropriate coverage in place.

You will have to contact your financial planner or advisor, or your life insurance representative to find out what your cash value is and to discuss what the impact will be on your policy as well as if there will be tax implications.

The American Association for Long - Term Care Insurance offers this information to help you better understand the various tax implications relating to LTCi policies.

• Most sellers only receive as little as between 13 — 21 % of the value of the policy • All policies apply including term insurance • Brokers and other purchasers take a commission as high as around 9 % to as high as 30 % • Most brokers will only consider people who are over the age 65 or will only consider those with a chronic or terminal illness, and have policies worth at least $ 100,000 • Selling you policy can have tax implications • Selling your policy may affect your ability to qualify for government sponsored programs • You lose control of your death benefits • The buyer has access to all your medical reports including current ones

Certain cash value life insurance policies can become modified endowment contracts if they're paid - up over a shortened period, which can have negative tax implications.

If you currently have a life insurance policy or you're the beneficiary of someone else's life insurance policy, you may be wondering what the tax implications of that policy will be.

Because many of the benefits of variable life insurance are wholly dependent on your ability to invest successfully, you should be absolutely certain that you understand all implications before purchasing this type of policy.

To get around the tax implications of a withdrawal, policyholders who want access to the money in their life insurance policy can take a loan from the policy rather than make a withdrawal.

The sole object of a term insurance policy is to protect the customer's family from the financial implications of unfortunate circumstances that one can not foresee.

The majority of individuals check the annual tax benefit to save the tax liability before investing in any financial instrument, but it's wise enough to check the tax implication on the maturity of insurance policy, ULIP or any other investment.

In many cases, the cash value inside of permanent life insurance policies can be exchanged via a 1035 exchange for an annuity product without any tax implications.

Switching insurance companies can have lasting implications and getting a new policy at a better price shouldn't cause anxiety if done correctly.

The insurance provider takes this action as an implication that the policy holder is a high risk driver and therefore premium rate is increased.

Hence, it would be advisable to take the guidance of an experienced auto insurance agent in understanding this section, as well as the implications of the other sections, before purchasing auto insurance policy in Idaho.

That has long - term implications, and your insurance company only has a duty to defend you until the policy limits have been paid in a settlement of some sort.

Fires, theft, storms, vandalism and other problems may all lead to expensive losses, and while some of these issues can be unavoidable, you can prevent their financial implications with a good renters insurance policy.

The tax implications of changing life insurance policies can be overwhelming.

A spat between the California Department of Insurance and the advocacy group Consumer Watchdog over a recent news release left Sacramento insiders scrambling to understand the policy implications...

One would therefore be well - advised to consult a specialist in advance, to properly understand the implications of operating without an inbuilt policy, and to gauge how much one ought to ask upfront from a tenant as a deposit, or what kind of added insurance policy would be suitable to ensure adequate liability cover for an owner.