Sentences with phrase «paid on a life insurance policy»

Dear Rajendra, May I know the total premium amount you pay on your Life insurance policies and total coverage you have (sum assured)?

My father has been pestering me for months to give him my social security number, stating he stppped paying on a life insurance policy (presumably on my life, which was purchased when I was a child, approximately 30 years ago), and he's going to «lose money» if I don't give him my SSN.

My father has been pestering me for months to give him my social security number, stating he stppped paying on a life insurance policy (presumably on my life, which was purchased when I was a child, approximately 30 years ago), and he's going to «lose money» if I don't give him my SSN.

Also, premiums paid on life insurance policy get tax deductions under Section 80C of the Act.

It is also important to know that for policies starting April 1, 2012 and later, Section 80C of the Act currently allows a deduction on premium paid on life insurance policy only if the annual premium paid is less than 10 % of the sum assured.

You may receive either a lump sum, or monthly payments, which lower the amount of proceeds that will be paid on your life insurance policy.

Dividends are not guaranteed and there are no income taxes paid on life insurance policy dividends.

The IRS covers this in Section 264 (a)(1) and provides that there is no deduction allowed for premiums paid on any life insurance policy, or endowment or annuity contract, if the taxpayer is directly or indirectly a beneficiary under the policy or contract.

Deduction is available under Section 80C of Income Tax Act, 1961 for the premium paid on life insurance policies with a maximum annual ceiling of Rs. 1,50,000.

However, if you stopped paying on your life insurance policy (policy lapse) and your coverage was not «In Force» when you died, there would be no pay - out..

Dear Rajendra, May I know the total premium amount you pay on your Life insurance policies and total coverage you have (sum assured)?

Not exact matches

Anyone holding a leverage life insurance annuity, or a 10/8 arrangements (another leverage insurance product) will now be subject to accrual - based taxation and no deduction will be allowed for any portion of the insurance premium paid on the policy.

This clause provides that if the policyholder fails to pay the premiums on a life insurance policy, the insurance company may automatically use the accumulated cash value to pay the premiums.

Dividends on a life insurance policy are generally treated as a return of investment and are not treated as taxable income to the policyowner unless they exceed the amount of the aggregate gross premiums paid on the policy.

The cash value of a universal life insurance policy accumulates based on the amount of premium paid, monthly deductions for policy costs and an interest rate that is declared by the insurance company.

As with all life insurance policies, you pay premiums on your policy every year.

«In addition, each of them receives a benefit package that includes 100 % paid health insurance, short term and long tern disability insurance and a life insurance policy for free, two weeks paid vacation, plus 8 paid personal or sick days and 50 cents on a dollar matching contribution to a retirement plan.

In contrast, a standard term life insurance policy pays your policy amount to beneficiaries on death.

According to the National Association of Insurance Commissioners (NAIC), mortgage insurance lenders pay out only about 40 cents in benefits for every dollar spent by consumers on this type of policy, while it is 90 cents on the dollar paid out to consumers with regular term life insuranceInsurance Commissioners (NAIC), mortgage insurance lenders pay out only about 40 cents in benefits for every dollar spent by consumers on this type of policy, while it is 90 cents on the dollar paid out to consumers with regular term life insuranceinsurance lenders pay out only about 40 cents in benefits for every dollar spent by consumers on this type of policy, while it is 90 cents on the dollar paid out to consumers with regular term life insuranceinsurance policies

Suffice it to say, however, that most individuals receiving payments from a life insurance policy do not pay taxes on the payouts.

On the other hand, as long as premiums are paid, a permanent life insurance policy will always pay out a death benefit since it never expires.

Getting life insurance might seem like a boring task, but at the same time it is quite important to pay attention to the fine print on your policy.

The premiums on a variable life insurance policy will eat into the gains you could make from the money you are paying.

Life insurance can be bought either as a permanent life insurance policy, covering your entire life (as long as your premiums are paid on time and in full), or a term life insurance policy, covering a given period of tLife insurance can be bought either as a permanent life insurance policy, covering your entire life (as long as your premiums are paid on time and in full), or a term life insurance policy, covering a given period of tlife insurance policy, covering your entire life (as long as your premiums are paid on time and in full), or a term life insurance policy, covering a given period of tlife (as long as your premiums are paid on time and in full), or a term life insurance policy, covering a given period of tlife insurance policy, covering a given period of time.

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.

Term life insurance policies can be purchased to cover nearly any period of time, and will stay in effect for the entire period as long as you continue to pay the premiums (the cost of the policy, which can be paid on a monthly or annual basis).

It's true that you may end up paying more for a life insurance policy than someone without diabetes, but it's going to depend on your overall health assessment.

If something happens to you, your life insurance policy will pay out, easing the burden on your family.

Unlike permanent life insurance policies which remain in effect for your entire life (assuming your premiums are paid on time), term life policies remain in effect for a specific term or period of time.

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.

On the other hand, if your company decides to sell the key person life insurance policy, you may have to pay taxes, depending on the size of the settlement, cash value of the policy, and the amount that's been paid in premiumOn the other hand, if your company decides to sell the key person life insurance policy, you may have to pay taxes, depending on the size of the settlement, cash value of the policy, and the amount that's been paid in premiumon the size of the settlement, cash value of the policy, and the amount that's been paid in premiums.

Our church's whole life insurance policy became a MEC and the pastor neglected to alert the board of the MEC status because he was informed by the agent that 501cs are tax exempt and do not pay taxes on a MEC.

With limited pay policies, particularly those that are funded using paid up additions, it is important to keep an eye on the MEC level where your policy changes from life insurance to a modified endowment contract.

If you can afford to pay a little more for your coverage, you can lock in a rate on a permanent life insurance policy, such as whole life or universal life.

If you are a savvy investor and comfortable with risk, it may make more sense to buy the term policy and invest the difference that you would pay for return of premium life insurance on your own.

But because it pays on the first death, the probability that the insurance company has to pay a death benefit is similar to having two single life policies.

Since his sister pays the premiums on the life insurance policy, I assume she is the owner of the policy.

Homeowners» Insurance: Required for all mortgage loans, protects the home from damage and theft Owner's Title Insurance: Optional policy ensuring the title will not be subject to a claim of ownership, lien or other encumbrance Private Mortgage Insurance (PMI): Required by most lenders when the down payment is less than 20 % Federal Housing Administration (FHA) Mortgage Insurance Premium: Required on all FHA loans Mortgage Life Insurance: Optional policy that protects family and estate by paying off the loan in case of death Disability Insurance: Optional policy that guarantees loan payments will be made in case of disability

Term life insurance is not available as a standalone policy on children (because the term would likely be over by the time they needed income replacement for their own families), but a permanent policy will last their lifetime so long as the premiums are paid.

The return of premium rider, available for return of premium life insurance policies, and also on certain long - term care policies, disability insurance, etc., will return all of your premiums paid over the life of your policy should the term come to an end or should you wish to surrender the policy.

With an Indexed Universal Life policy you have the ability to pay more or less each month (there is a minimum to cover fees, and a maximum based on the MEC limit) but the policy has much more premium flexibility than the other types of life insurance policies in the marLife policy you have the ability to pay more or less each month (there is a minimum to cover fees, and a maximum based on the MEC limit) but the policy has much more premium flexibility than the other types of life insurance policies in the marlife insurance policies in the market.

This rider is also known as paid - up additional insurance and is available on participating whole life insurance policies.

Not only does Federal law place a limit of $ 50 on any fraudulent purchases but often any outstanding debts would be adequately paid by a Life Insurance policy which would be less expensive and more appropriate if you have a family.

That $ 42,000 could be used to pay the premiums on a life insurance policy, on the trustmaker's life, with the death benefit to pass to the 3 beneficiaries.

Initially, the premiums paid on cash value insurance, such as whole life insurance rates, are higher than those associated with term insurance, given that term insurance payments are used just to pay for current insurance coverage and not to build up cash value in the policy.

Luckily, she paid for a critical illness rider on her life insurance policy, which gave her enough money to cover her hospital bills and buy a new bike.

Term life insurance is defined as a contract between the owner of the policy and the insurer, for a policy on the life of the insured, whereupon the insured's death, the insurer pays a lump sum death benefit to the beneficiary.

In addition, we'll figure out what to do with the life insurance policies on which you've been paying for so long.

For example, if you own a $ 500,000 life insurance policy and your parents co-signed on a mortgage loan worth $ 250,000, you can designate 50 % of the death benefit to your parents until the loan is paid off.

In the event that you require long - term medical care in old age that your health insurance policy won't pay for, such as nursing home costs or at - home care, a long term care rider on your whole life insurance policy will cover the costs.