Sentences with phrase «purchase life insurance policies on»

Yes that's what I «m asking you, can I purchase life insurance policies on my nieces and nephews without their or their parents consent.

A life insurance trust is a trust that has the power to purchase life insurance policies on the person who establishes the trust (the grantor), the grantor's spouse, or the trust beneficiaries.

A life insurance trust is a trust that has the power to purchase life insurance policies on the person who establishes the trust (the grantor), the grantor's spouse, or the trust...

To purchase a life insurance policy on someone else you need two things: insurable interest and the person's consent.

If you are one of those people who do not need the RMD income, I advise my clients to purchase a life insurance policy on themselves using the annual RMD dollar amount (after taxes).

If you are involved in a business with a partner, it's possible that you have a buy / sell agreement in which each business owner purchases a life insurance policy on the other owner and then uses the death benefit to buy out the deceased owner's share of the business.

At the time the company purchased life insurance policy on you there was an insurable interest, which is a fancy way of saying that there would be a loss to the company if you died while employed there.

The ILIT actually purchases the life insurance policy on you, and the ILIT is also the sole beneficiary to control the asset and eventual distribution.

A company or business entity will purchase a life insurance policy on an owner, founder, or another key employee, and pay the premiums on the life insurance policy.

By purchasing a life insurance policy on a first - to - die basis this means you can purchase a single life annuity (which offers higher monthly payments) without jeopardizing the income for the surviving partner.

Don't base the decision to purchase a life insurance policy on age.

Legal guardians do not need consent from their minor children to purchase a life insurance policy on them.

If you are involved in a business with a partner, it's possible that you have a buy / sell agreement in which each business owner purchases a life insurance policy on the other owner and then uses the death benefit to buy out the deceased owner's share of the business.

In reading between the lines, it sounds like you are asking if there is a way to purchase a life insurance policy on your mom without her knowing about it.

I think I understand your question, but let me summarize what you are asking: Is it possible that your aunt purchased a life insurance policy on your mom without you and your siblings knowing about it.

To purchase a life insurance policy on someone else you need two things: insurable interest and the person's consent.

To summarize, there are obstacles in place to prevent someone with possible ill - intentions from purchasing a life insurance policy on you:

Ok, so I have 4 small children.Ages 7 down to 1 yr old.Me and their father are not together, but he is actively in their lives.Also he doesn't pay child support but helps me with them.Could I purchase a life insurance policy on him should something happen to him?

First things first, yes you can purchase a life insurance policy on your parents.

You mentioned that your husband purchased a life insurance policy on you without your consent, and then you found out about it and were upset.

Once the irrevocable life insurance trust is «funded», the trustee, on behalf of the ILIT, applies for and purchases a life insurance policy on the life or lives of the Grantor and the Grantor's spouse.

Am I able to purchase a life insurance policy on my son's father?

Your roommate could purchase a life insurance policy on themselves and then after it is approved and placed inforce (activated, in other words) he or she can name you a beneficiary.

Even if you will receive alimony and / or child support, you might consider purchasing a life insurance policy on your ex-spouse.

Knowing that if one of them were to die the surviving spouse wouldn't bring in enough income to cover their monthly expenses, both purchase a life insurance policy on each of their lives, should the unthinkable happen.

Simply put, a buy / sell agreement is when each business owner purchases a life insurance policy on each of the other owners.

With this type of arrangement, each of the partners will purchase a life insurance policy on all of the others, naming all of the other partners as policy beneficiaries as well.

For key person insurance policies, a company purchases a life insurance policy on its key employee (s), pays the premiums and is the beneficiary of the policy.

As long as you as the insured person meets one of these requirements, you'll be able to purchase a life insurance policy on that person as long as you get their consent for the plan.

Therefore, if the company purchases a life insurance policy on the key employee, the proceeds of the policy can be paid out to the company in order to compensate for this lost income.

Therefore, business owners can set up a buy / sell agreement whereby each owner purchases a life insurance policy on the lives of the other owners.

The objective of the IRS code change was to prevent large corporations from purchasing life insurance policies on its non-key employees simply to receive a tax free death benefit when the employee or former employee dies.

At the time the company purchased life insurance policy on you there was an insurable interest, which is a fancy way of saying that there would be a loss to the company if you died while employed there.

Now since these benefits aren't as obvious as the benefits to those who are the beneficiaries of a life insurance policy payout, we've chosen to list just a few them in this article so that we might help make the decision to purchase a life insurance policy on yourself just a bit easier.

While a policy's owner and insured might be the same, a person can purchase a life insurance policy on someone else with the prospective insured's consent and by demonstrating an insured interest in the insured's continuing life.

In this case, each of the individuals will purchase a life insurance policy on each of the others.

If you have purchased a life insurance policy on or before 31st March 2012 in your own name or in the name of spouse or child, then up to 20 % of tax deduction can be availed on the premium paid towards life insurance policy.

Cross Purchase Plan — In a cross purchase plan, each owner purchases a life insurance policy on the other owner or owners.

This is required when purchasing a life insurance policy on another person.

It's actually quite easy to purchase a life insurance policy on your child or children.

Where you have been diagnosed with later stages of both breast or ovarian cancer most individuals will need to pursue an «alternative» life insurance product such as a guaranteed issue life insurance policy if they wish to purchase a life insurance policy on themselves.

The process of purchasing a life insurance policy on the internet is fairly straightforward.

Before the insurance company will allow someone to purchase a life insurance policy on someone else's life, they need to know what the insurable interest is.

Probably the most common scenario I hear is children or grandchildren considering purchasing a life insurance policy on parents or grandparents.

Not exact matches

We recommend that you don't purchase credit life insurance and, if you're concerned about debts being passed on, purchase a term life insurance policy instead.

Had the individual purchased permanent life insurance, he or she could have access to a potentially significant source of supplemental retirement income in the future (depending on the policy type), while preserving the death benefit in perpetuity (note, however, that the death benefit and cash value of a policy is reduced in the event of a loan or partial surrender, and the chance of lapsing the policy increases).

Therefore, if you are on the younger end of the age spectrum, you might want to consider purchasing something that will be in place for longer, such as a 30 year term policy or permanent life insurance policy.

Gerber Life's Grow - Up Plan is a whole life insurance policy that you can purchase on your kids, or your grandchild, if they're between the ages of 14 days and 14 years Life's Grow - Up Plan is a whole life insurance policy that you can purchase on your kids, or your grandchild, if they're between the ages of 14 days and 14 years life insurance policy that you can purchase on your kids, or your grandchild, if they're between the ages of 14 days and 14 years old.

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).

We recommend that you don't purchase credit life insurance and, if you're concerned about debts being passed on, purchase a term life insurance policy instead.