Sentences with phrase «life insurance contract which»

Survivorship life insurance: A life insurance contract which covers two lives and provides for the payment of the proceeds upon the death of the second insured.

Second - to - die life insurance: A life insurance contract which covers two lives and provides for the payment of the proceeds upon the death of the second insured.

Essentially a life insurance contract which becomes a MEC is treated like a non qualified annuity by the IRS for taxation purposes prior to the insured persons passing.

Not exact matches

Like Life Insurance policy, a health insurance policy is a legal contract between insurer and insured; in which insured pays premiums and in returns, insurer agrees to pay for medical expenses for a specified limit or sumInsurance policy, a health insurance policy is a legal contract between insurer and insured; in which insured pays premiums and in returns, insurer agrees to pay for medical expenses for a specified limit or suminsurance policy is a legal contract between insurer and insured; in which insured pays premiums and in returns, insurer agrees to pay for medical expenses for a specified limit or sum insured.

The AXA Retirement 360SM defined contribution program consists of a custodial account offered through Reliance Trust Company, LLC, within which plan participants» chosen mutual fund shares are held, as well as a group fixed annuity contract (Generic Form Number 2016FA - MFrev, 2016FA - MF403b) issued by AXA Equitable Life Insurance Company («AXA Equitable»).

An immediate annuity is a contract between you and an annuity issuer (an insurance company) to which you pay a single lump sum of cash in exchange for the issuer's promise to make payments to you (or the annuitant) for a fixed period of time or for the life of the annuitant.

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.

So, if your company is the beneficiary, which is kind of the point of key person insurance, then the premiums are not deductible (similar to a personal life insurance contract) because the death benefit is not subject to taxation.

Visit our variable annuity compliance documents page to access prospectuses, which contain information about contract charges and fees for the variable annuity products offered by Annuity Investors Life Insurance Company.

The inner - workings of cash value life insurance consists of a life insurance policy, which is a contract between the policy owner, the insured (often the same person), and the insurer, where the insurer agrees to pay a death benefit to the policy's beneficiary, based on the owner continuing to make the policy's premium payments.

Like other types of cash value life insurance policies which allow policy loans, most annuity contracts allow owners to borrow against the annuity contract's accumulated cash value.

Gather two years worth of at least three accounts for which you have made consistent and on - time payments, such as a utility bill, a life insurance policy, or a rental contract.

This material must be preceded or accompanied by prospectuses for the Brighthouse Shield Level Select ℠ 6 - Year Annuity, Brighthouse Shield Level Select ℠ 3 - Year Annuity, Brighthouse Shield Level Select ℠ Advisory Annuity, Brighthouse Shield Level 10 ℠ Annuity, and Brighthouse Shield Level 10 ℠ Advisory Annuity, issued by Brighthouse Life Insurance Company and, in New York only, by Brighthouse Life Insurance Company of NY, which contains information about the contract's features, risks, charges, and expenses.

I want to buy a life insurance or life insurance contract for the purpose of growing cash value, which is the best option?

And third is life settlements, which are life insurance contracts held on someone over the age of 65 that no longer wants to own their life insurance plan.

Whole life insurance defined: A whole life policy is a type of permanent life insurance where a contract is entered into between the policy owner and insurer, for a policy, which covers the life of the insured, for a specified insurance coverage amount, for the benefit of a beneficiary.

Unlike life insurance contracts that provide a death benefit which is non-taxable to beneficiaries, annuities paid to an estate incur what is called «income in respect to a decedent ``.

A feature that may be offered under an annuity contract in which the insurance company promises an individual may withdraw a specified amount from an account, even if the account balance is reduced to zero: (1) for the life of the individual, or the joint lives of two individuals (e.g., the individual and spouse); or (2) for a specified period of time.

A contract sold by a life insurance company in which an insured makes contributions into a fund that can then be withdrawn in a lump sum or a series of future payments.

For the uninitiated, an annuity is a long - term contract between an individual and an insurance company which guarantees that in exchange for a lump - sum premium or a series of premiums the insurance company will guarantee an income stream that can last for a certain number of years — or even for an entire life.

In this guest post, Lingke Wang — co-founder of Ovid Life, a technology firm aiming to create a centralized transparent marketplace for life settlements transactions — provides a «Financial Advisor's Guide To Life Settlements» with a detailed review of the life settlement industry, what a life settlement provider is and how life settlements operate, and the mechanics of how an investor evaluates a prospective life settlement contract purchase (which is important to understand for any policyowner who might be selling their life insurance policLife, a technology firm aiming to create a centralized transparent marketplace for life settlements transactions — provides a «Financial Advisor's Guide To Life Settlements» with a detailed review of the life settlement industry, what a life settlement provider is and how life settlements operate, and the mechanics of how an investor evaluates a prospective life settlement contract purchase (which is important to understand for any policyowner who might be selling their life insurance policlife settlements transactions — provides a «Financial Advisor's Guide To Life Settlements» with a detailed review of the life settlement industry, what a life settlement provider is and how life settlements operate, and the mechanics of how an investor evaluates a prospective life settlement contract purchase (which is important to understand for any policyowner who might be selling their life insurance policLife Settlements» with a detailed review of the life settlement industry, what a life settlement provider is and how life settlements operate, and the mechanics of how an investor evaluates a prospective life settlement contract purchase (which is important to understand for any policyowner who might be selling their life insurance policlife settlement industry, what a life settlement provider is and how life settlements operate, and the mechanics of how an investor evaluates a prospective life settlement contract purchase (which is important to understand for any policyowner who might be selling their life insurance policlife settlement provider is and how life settlements operate, and the mechanics of how an investor evaluates a prospective life settlement contract purchase (which is important to understand for any policyowner who might be selling their life insurance policlife settlements operate, and the mechanics of how an investor evaluates a prospective life settlement contract purchase (which is important to understand for any policyowner who might be selling their life insurance policlife settlement contract purchase (which is important to understand for any policyowner who might be selling their life insurance policlife insurance policy!).

215 ILCS 5/143.1: Period of limitation tolled Whenever any policy or contract for insurance (except life, accident and health, fidelity and surety, and ocean marine policies) contains a limitation period in which the insured may bring suit, the running of the period is tolled from the date proof of loss is filed, in the form required by the policy, until the date the claim is denied in whole or in part.

Life Settlements - a contract or agreement in which a policyholder agrees to sell or transfer ownership in all or part of a life insurance policy to a third party for compensation that is less than the expected death benefit of a polLife Settlements - a contract or agreement in which a policyholder agrees to sell or transfer ownership in all or part of a life insurance policy to a third party for compensation that is less than the expected death benefit of a pollife insurance policy to a third party for compensation that is less than the expected death benefit of a policy.

When you purchase life insurance, you enter into a contract with a life insurance company that agrees to pay a death benefit to your beneficiary, which can be your spouse, children or anyone you choose.

Life insurance (life assurance) is a certain contract between you (the insurance policy owner) and the insurer, according to which the policy owner is paid a reimbursement in case the insured event occurs (i.e. the policy owner's deaLife insurance (life assurance) is a certain contract between you (the insurance policy owner) and the insurer, according to which the policy owner is paid a reimbursement in case the insured event occurs (i.e. the policy owner's dealife assurance) is a certain contract between you (the insurance policy owner) and the insurer, according to which the policy owner is paid a reimbursement in case the insured event occurs (i.e. the policy owner's death).

Endorsement An amendment to a life insurance or annuity policy, which alters the provisions of the initial contract.

The terms of the contract are spelled out in the life insurance policy which you will receive when your application is approved.

Single Premium Policy With life insurance and annuities, a contract in which the entire premium is paid in a lump sum at the beginning of the contract period.

Certain life insurance contracts accumulate cash values, which may be taken by the insured if the policy is surrendered or which may be borrowed against.

Northwestern Mutual Life Insurance Company has gone through two years of litigation and a two - week non-jury trail on a breach of contract matter, which found that the company breached contracts with thousands of policyholders,

In accordance with the prime feature of this Life Insurance plan which is loyalty to the consumer, ROP Term Insurance will provide that you receive all your investment back, not a portion of it, like under Permanent Life Insurance contracts with the cash value feature.

When it comes to premium payments, there is another convenient option sometimes offered under Variable Life contracts - a policy with a fixed premium, which justifies the feature of flexibility attributed to Variable Life Insurance.

A Life Insurance Policy is essentially a contract between an insurance holder and an insurance company wherein the parties agree to certain conditions which provide the policyholder a lump - sum amount of money in case of his / hInsurance Policy is essentially a contract between an insurance holder and an insurance company wherein the parties agree to certain conditions which provide the policyholder a lump - sum amount of money in case of his / hinsurance holder and an insurance company wherein the parties agree to certain conditions which provide the policyholder a lump - sum amount of money in case of his / hinsurance company wherein the parties agree to certain conditions which provide the policyholder a lump - sum amount of money in case of his / her death.

When implementing a buy - sell agreement, it's important to secure the proper funding, which you can typically do through a life - insurance contract.

If any contract which is a life insurance contract under the applicable law does not meet the definition of life insurance contract under subsection (a), the excess of the amount paid by the reason of the death of the insured over the net surrender value of the contract shall be deemed to be paid under a life insurance contract for purposes of section 101 and subtitle B.

Fixed annuity: A deferred annuity contract in which the life insurance company credits a fixed rate of return on premiums paid or an immediate annuity in which the periodic amount is fixed.

* The normal premium paying grace period is 31 days for our life insurance, long - term care insurance, disability income insurance, and annuity contracts for which premium payments are required.

The date at which the face amount of a life insurance policy becomes payable by either death or other contract stipulation.

If the policy is not issued correctly, you'll usually have a «free - look period» during which you can reject the life insurance contract and get your money back.

The United Kingdom was a leader in that trend by passing legislation that prohibited insurance contracts if no insurable interest could be proven, notably the Life Assurance Act 1774 which renders such life insurance contracts illegal, and the Marine Insurance Act 1906, s. 4 which renders such contrainsurance contracts if no insurable interest could be proven, notably the Life Assurance Act 1774 which renders such life insurance contracts illegal, and the Marine Insurance Act 1906, s. 4 which renders such contracts vLife Assurance Act 1774 which renders such life insurance contracts illegal, and the Marine Insurance Act 1906, s. 4 which renders such contracts vlife insurance contracts illegal, and the Marine Insurance Act 1906, s. 4 which renders such contrainsurance contracts illegal, and the Marine Insurance Act 1906, s. 4 which renders such contraInsurance Act 1906, s. 4 which renders such contracts void.

A: Yes, life insurance policies are «unilateral contracts», which means the policy can be cancelled at any time, without penalty, by simply stopping premium payments.

You are purchasing a life insurance policy which is none other than a contract to pay the face amount to your beneficiary if you past away from accident or illness.

Unlike term life insurance, which covers the contract holder until a specified age limit, a traditional whole life policy never runs out.

On October 25th of 1983, a bill was introduced to the senate which sought to clarify how a life insurance contract was viewed according to the Internal Revenue Code, where cash accumulation was involved, or what we call ordinary life insurance contracts.

A NOTE ON MEC (Modified Endowment Contract) A single premium life insurance policy is always a MEC, which simply means that your life insurance policy will be treated as a qualified plan such as, IRA, 401K, SEP or 403 (b); and will incur the same penalties if you withdraw any available cash value.

A life insurance policy is an exchange of promises When you purchase life insurance, you and the insurance company enter into a contract in which you each make important promises.

The Term Policy document is the contract under which your life's risk is undertaken by the Life Insurance complife's risk is undertaken by the Life Insurance compLife Insurance company.

• Lyndon Insurance Group, Inc. and Affiliates — This company both produces and markets specialty insurance products, which include credit life and disability insurance, as well as vehicle and marine service Insurance Group, Inc. and Affiliates — This company both produces and markets specialty insurance products, which include credit life and disability insurance, as well as vehicle and marine service insurance products, which include credit life and disability insurance, as well as vehicle and marine service insurance, as well as vehicle and marine service contract.

This is covered under IRC Section 101 (j)(1) which states that death benefits from employer - owned life insurance contracts shall be taxable, in excess of premiums paid, unless the employer - owned life insurance contract meets one of the exceptions provided under IRC 101 (j)(2).

Every life insurance company has what's called the contestability clause which entitles them to investigate claims that occur during the first two years of the contract.