Sentences with phrase «paid for any life insurance policy taken»

Under Section 80C, premium paid for any life insurance policy taken qualifies for tax deduction.

Not exact matches

Take life insurance as an example: you pay for a policy, and if you die during the term then that money (the death benefit) goes to the person you named as your beneficiary on the policy.

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In general, life insurance policy cash value can be used to supercharge the life insurance policy through paid up additions AND the cash can later be freely utilized to take advantage of other investments through life insurance policy loans, allowing for maximum financial leverage and the velocity of money.

Individuals with uninsurable medical conditions may find that AD&D insurance is the only kind of life insurance policy they can take out, unless they elect to pay very high premiums for «guaranteed issue» whole life insurance.

Knowing how life insurance works is important because your different policy options will help determine how long it'll be in effect, how much you'll pay for it, and how your beneficiaries will be taken care of in the event of your death.

Most permanent life insurance policies allow you to take partial withdrawals or policy loans to pay for health care and other expenses.

While no medical life insurance can be enticing for any number of reasons (a checkered health history, busy schedules, instant coverage, and anxiety over taking medical exams generally top the list), the higher premiums you'll have to pay in order bypass a routine medical exam can make these policies tough to justify.

(With certain types of life insurance, however, it may be possible to receive a refund for premiums paid or to take withdrawals from the policy.)

Don't let this happen to you: take out a small life insurance policy on your child (that you pay for) that will provide enough money to fully pay off the student loan in case the worst happens.

When you apply for a life insurance policy, you are essentially asking the insurance company to take on the potential financial risk of possibly paying a death claim on your life.

Generally these can be taken under one of three possible non-forfeiture options: (1) surrender for full cash value; (2) use of the cash value to purchase reduced paid - up life insurance; and (3) use of the cash value to purchase extended term insurance in the full face amount of the original policy for as long as the cash value will pay net premiums.

If, however, the policyholder chooses to do so, he or she can either borrow or withdraw the money that is in the cash value component of a burial insurance policy — and they can do so for any reason, such as paying off large debt obligations, supplementing their living expenses in retirement, or even for going on a cruise or taking a vacation.

For example, if you were to take out a $ 1 million term life insurance return of premium policy and paid $ 10,000 annually for 30 yeaFor example, if you were to take out a $ 1 million term life insurance return of premium policy and paid $ 10,000 annually for 30 yeafor 30 years.

In Colorado, for instance, if the suicide occurs more than one year from the time the life insurance policy was taken out, the insurance company can not avoid paying out the death benefit from the life insurance policy.

Most people will make sure there is enough money in their life insurance policy to take care of any debt, pay for college for the kids, provide finances for a spouse, and pay for the funeral.

If you already have sensibly taken out life insurance coverage, our experienced agents can review your policy to ensure that the life insurance rate class you have for your policy is correct and also that the premium rate you are paying is not too high.

The beneficiaries will normally decline to take any «gifted» funds from the ILIT and the money is then used to pay the premiums for the life insurance policy that is owned by the trust.

The death benefit of a term life insurance policy gives the surviving spouse money to pay for a nice funeral, continue to pay the mortgage, afford to take time off work to be with family, and make sure the hopes and dreams you had planned out for your children are still attainable.

A $ 100,000 life insurance policy will take care of funeral expenses and a good portion of the mortgage payments, but it won't go very far in paying for college.

Whole life is another term for permanent life insurance, while universal insurance a flexible policy in which you have more freedom paying premiums and taking out of the savings in your account.

If you are regularly in pursuit of an adrenaline rush, you may pay for your penchant for thrill seeking when it comes to taking out a life insurance policy.

David buys a term life insurance policy that lasts for ten years — the same amount of time it will take him to pay off his student loans.

If you need to, for example, start paying a live - in nanny to take care of kids so you can continue working, you'll want that cost included in your life insurance needs, and one way to do that is to get a life insurance policy for the stay - at - home spouse, too.

Take life insurance as an example: you pay for a policy, and if you die during the term then that money (the death benefit) goes to the person you named as your beneficiary on the policy.

Don't let this happen to you: take out a small life insurance policy on your child (that you pay for) that will provide enough money to fully pay off the student loan in case the worst happens.

Naturally, you are going to be paying more for a whole life policy with investment savings, than you would if you just took a basic term life insurance policy.

These life insurance policies are not meant to meet the goals of typical life insurance policies, such as paying the mortgage on a house or ensuring that dependents are taken care of for a determined period of time.

Before you can finish your online term life insurance policy, they are going to require that you take a medical exam, and the results of that exam are going to play an important role in how much you pay for coverage.

The money from a permanent life insurance policy's cash value can typically be used for any need or want for the policy holder, such as taking a vacation, paying off debts, supplementing retirement income, or even paying for a child's or a grandchild's future college education costs.

Individuals with uninsurable medical conditions may find that AD&D insurance is the only kind of life insurance policy they can take out, unless they elect to pay very high premiums for «guaranteed issue» whole life insurance.

In our example above, even if our 50 - year old who had a $ 100,000 policy took out $ 100,000 of long - term care benefits, he would still end up with a $ 10,000 paid up policy for the rest of his life for life insurance purposes.

These are life insurance policies that will require that the insurance applicant take a medical exam (paid for by the insurance carrier).

If you apply for a traditional life insurance policy, the insurance company is going to require that you take a medical exam, and the results of that medical test are going to play a significant role in how much you're going to pay for your insurance plan.

The proceeds from a life insurance policy can be used for paying off debt, taking care of final expenses, and / or for paying ongoing living costs for the insured's survivors.

Life insurance carriers take on the financial obligation to pay a specified death benefit in return for premiums paid by policy owners for a set amount of time as defined by a life insurance contrLife insurance carriers take on the financial obligation to pay a specified death benefit in return for premiums paid by policy owners for a set amount of time as defined by a life insurance contrlife insurance contract.

Policy holders who have permanent life insurance protection are allowed to withdraw or borrow cash from the policy's cash component for any need that they see fit — including to pay off debts, to supplement retirement income later in life, or even to take a nice vacPolicy holders who have permanent life insurance protection are allowed to withdraw or borrow cash from the policy's cash component for any need that they see fit — including to pay off debts, to supplement retirement income later in life, or even to take a nice vacpolicy's cash component for any need that they see fit — including to pay off debts, to supplement retirement income later in life, or even to take a nice vacation.

Take permanent versus term life insurance policies, for instance: many people have turned to buying term life in recent years because it's less expensive than permanent, which requires a person to pay for premiums for the duration of their life.

TUTORIAL: Introduction To Insurance Cash Value Loans If you need money for almost anything - paying taxes, supplementing retirement or college savings, funding a medical treatment or paying for a dream vacation, you can take a loan out of your life insurance policy's cash values in order to satisfy tInsurance Cash Value Loans If you need money for almost anything - paying taxes, supplementing retirement or college savings, funding a medical treatment or paying for a dream vacation, you can take a loan out of your life insurance policy's cash values in order to satisfy tinsurance policy's cash values in order to satisfy that need.

However, many individuals that take the time to protect their loved ones with life insurance, may also have a separate investment set aside to pay for their final expenses, instead of using a permanent life insurance policy.

The cash in a permanent life insurance policy is allowed to be borrowed and / or withdrawn for any reason — such as supplementing income, paying for a child or a grandchild's education, paying off debts, or even for taking a nice vacation.

Oftentimes, these plans are marketed to those who believe that term life insurance is the best type of coverage to own, yet don't want to take the chance that they will pay premiums into the plan for years without any type of return should they outlive the term of the policy.

However, while coverage is extremely important, there is another factor to take into consideration: The amount you will pay for your life insurance policy.

For example: As you age, the cost of life insurance will increase; and, if you do not pay the full amount of the premiums you owe (to cover the cost of increase), an insurer will reconcile the difference by taking money from the cash value you have in your policy — the cash value of your life insurance will decline — to resolve this divide.

Although some may choose to use their lump sum to pay mortgage payments, a life insurance policy will not completely pay off your mortgage, for this you will need to take out a separate mortgage protection policy.

If you've been paying into a whole life insurance policy for a long time, then you should be able to take out a loan on it at a very low interest rate.

For example, if a cover of Rs. 1 crore is taken by you through a regular term life insurance policy and have added up this conventional rider to it, then in such a situation, at the instance of death due to accident, instead of Rs. 1 crore the beneficiary is paid Rs. 2 crore.

In general, life insurance policy cash value can be used to supercharge the life insurance policy through paid up additions AND the cash can later be freely utilized to take advantage of other investments through life insurance policy loans, allowing for maximum financial leverage and the velocity of money.

There are life insurance policies, for instance, that do not pay out a death benefit if the insured takes their own life.

By purchasing a life insurance burial policy you can have the peace of mind knowing you have taken care of the expense of your funeral and burial, so you won't leave your loved ones with the financial stress of paying for your burial while mourning your loss.