Sentences with phrase «purpose of your insurance plan»

The purpose of any insurance plan is to protect the insured from huge financial losses.

If such a credit has been issued, then you would have not experienced financial loss, which is the purpose of the insurance plan you purchased.

Not exact matches

BeYogi Insurance Plus is included as a member benefit of Protection Plan Association, Inc., an association for health, wellness and beauty professionals and students created for the purpose of providing valuable and important benefits and services to its members.

to take any action otherwise prohibited under subsections (a), (b), (c), or (e) of this section where age is a bona fide occupational qualification reasonably necessary to the normal operation of the particular business, or where differentiation is based on reasonable factors other than age; to observe the terms of a bona fide seniority system or any bona fide employee benefit plan such as a retirement, pension, or insurance plan, which is not a subterfuge to evade the purposes of this Act, except that no such employee benefit plan shall excuse the failure to hire any individual; or to discharge or otherwise discipline an individual for good cause

In a nutshell, while most whole life insurance is fixated on maximizing the death benefit of a policy and just allowing cash values to grow over time, strategic self banking focuses on maximizing life insurance cash values, so the whole life insurance plan can be used strategically as a savings and personal financing vehicle for the purpose of recapturing your cost of capital incurred when having to deal with third party lenders or using your own cash.

«I would not necessarily recommend increasing your coverage for the sole purpose of safeguarding against lightning strikes,» says Hank Wilson owner of Wilson Insurance & Financial Planning (www.wilsoninsurance.net).

If you avail a life insurance plan with inadequate sum assured then the entire purpose of securing your family is defeated.

As a teaser, the tax advantages of permanent life insurance may be used to expedite cash value accumulation for many purposes including retirement planning and investing.

As is the case with checking and savings accounts, all retirement accounts held by one owner in any of these retirement plans are added together for the purpose of applying the $ 250,000 insurance limit.

This may not be something you've considered, but for the purpose of the comparison with the 529 plan vs life insurance it need to be mentioned.

This Insurance is a dedicated - purpose policy that will cover any outstanding balance on your Prepaid Plan in the event of your death.

This can be an especially good purpose for a mortgage life insurance policy, because employer plans generally do not provide enough coverage to provide for many of your family's needs upon your death.

Income to the beneficiary is one of the main purposes of a life insurance plan.

In the end, adding a permanent life insurance policy to your investment portfolio can be a good option to help mitigate the risk of early death as well as build some cash value that can be used for a variety of purposes, including retirement income, but it should never be used as your only method of investment planning.

Because of that, permanent life insurance policies are often used as financial planning tools that can serve many more purposes than just simply paying out a death benefit.

This life insurance is a dedicated - purpose life insurance policy that was designed just for Florida Prepaid and will pay off the outstanding balance on any covered Prepaid Plan in the event of your death.

Two asset protection benefits are, one, that an irrevocable trust may be set up for the employee to own the policy, such as an irrevocable life insurance trust OR another type of grantor trust, and this can assure that the policy will not be included in the employee's taxable estate for split dollar estate planning purposes.

The IRS website confirms that if you receive the proceeds under a life insurance plan as a beneficiary, the benefits are not considered income and do not have to be reported for the purposes of income tax.

make payments towards the cost of elementary or secondary education that a person receives outside Ontario, if the person is outside Ontario for the purpose of receiving insured services within the meaning of the Health Insurance Act and the cost of the insured services is paid for in whole or in part by the Ontario Health Insurance Plan.

(6) If, for the purpose of this section or section 84, it is necessary to estimate the value of future payments that the corporation or the insurer is authorized or required to make under the plan or an optional insurance contract, the value must be estimated according to the value on the date of the estimate of a deferred benefit, calculated for the period for which the future payments are authorized or required to be made.

Section 514 (b)(2)(B) of ERISA, 29 U.S.C. 1144 (b)(2)(B), provides that an ERISA plan is deemed not to be an insurer for the purpose of regulating the plan under the state insurance laws.

We also note that under § 164.504 (f), a group health plan and a health insurance issuer that provides benefits with respect to a group health plan are permitted in certain circumstances to disclose summary health information to the plan sponsor for the purpose of obtaining premium bids.

«Health plans,» for purposes of the regulatory impact and regulatory flexibility analyses, include licensed insurance carriers who sell health products; third party administrators that will have to comply with the regulation for the benefit of the plan sponsor; and self - insured health plans that are at least partially administered by the plan sponsor.

However, Congress did not include life insurers and casualty insurance carriers as «health plans» for the purposes of this rule and therefore they are not covered entities.

If a health plan receives protected heath information for the purpose of underwriting, premium rating, or other activities relating to the creation, renewal, or replacement of a contract of health insurance or health benefits, and if such health insurance or health benefits are not placed with the health plan, such health plan may not use or disclose such protected health information for any other purpose, except as may be required by law.

(iii) Not disclose and may not permit a health insurance issuer or HMO to disclose protected health information to a plan sponsor as otherwise permitted by this paragraph unless a statement required by § 164.520 (b)(1)(iii)(C) is included in the appropriate notice; and (iv) Not disclose protected health information to the plan sponsor for the purpose of employment - related actions or decisions or in connection with any other benefit or employee benefit plan of the plan sponsor.

«Overseeing the health care system,» which is included in the definition of health oversight, encompasses activities such as: oversight of health care plans; oversight of health benefit plans; oversight of health care providers; oversight of health care and health care delivery; oversight activities that involve resolution of consumer complaints; oversight of pharmaceuticals, medical products and devices, and dietary supplements; and a health oversight agency's analysis of trends in health care costs, quality, health care delivery, access to care, and health insurance coverage for health oversight purposes.

Transmission of applicant or employee health information by the employer's management to the group health plan may be permitted under the ADA standards as the use of medical information for insurance purposes.

We do not interpret the definition of «payment» to include activities that involve the disclosure of protected health information by a covered entity, including a covered health care provider, to a plan sponsor for the purpose of obtaining payment under a group health plan maintained by such plan sponsor, or for the purpose of obtaining payment from a health insurance issuer or HMO with respect to a group health plan maintained by such plan sponsor, unless the plan sponsor is performing plan administration pursuant to § 164.504 (f).

Similarly, disclosure of such medical information by the group health plan, under the limited circumstances permitted by this privacy regulation, may involve use of the information for insurance purposes as broadly described in the ADA discussion above.

If the purpose of buying a term insurance plan is to cover large debts or loans, such as a home loan, even then going beyond retirement age is not ideal.

«Consumers often don't know that permanent life insurance policies can serve a dual purpose — to ensure a family is adequately protected in the event of a primary caretaker's death and help plan for retirement.»

The secondary purpose of your life insurance plan is to replace your paycheck if something tragic were to happen to you.

So, if you need coverage quickly — such as for the approval of a loan or other similar purpose — then going with a no exam life insurance plan may be a good option for you.

The secondary purpose of your life insurance plan is to give your family the money that they need to replace your paycheck.

However, it's very important to note that short - term health insurance plans do not count as qualifying health coverage, and any time period that you're covered by only short - term health insurance will be «uninsured» time for the purposes of the ACA mandate (and avoiding the tax penalty).

These plans are developed with the dual purpose of providing a saving avenue to customers and also to provide life insurance coverage at the same time.

While emotional loss can not be compensated, the financial loss suffered can be compensated considerably through insurance.Term Insurance, being the basic insurance plan, is the cheapest plan in the market where by paying a minimal amount of premium one can avail a high coverage for protection insurance.Term Insurance, being the basic insurance plan, is the cheapest plan in the market where by paying a minimal amount of premium one can avail a high coverage for protection Insurance, being the basic insurance plan, is the cheapest plan in the market where by paying a minimal amount of premium one can avail a high coverage for protection insurance plan, is the cheapest plan in the market where by paying a minimal amount of premium one can avail a high coverage for protection purposes.

Some plans are meant for the purpose of wealth creation while others provide the feature of savings along with insurance protection.

But before you consider using life insurance as part of your estate plan, it's important to understand the types of survivorship life insurance policies commonly used for this purpose.

For 90 % of people, if they have a 30 year Term Life plan, they fulfilled the purpose for having life insurance.

Travel Protect - Individual: An insurance plan directed towards providing protection to individuals travelling abroad for the purpose of business or leisure.

HDFC child plan serves the dual purpose of insurance and investment.

Travel Protect - Student: An insurance plan directed towards providing protection to students travelling abroad for the purpose of studying.

The main purpose of buying a term insurance plan is to ensure that your family is financially secure after your death.

The purpose of the exam is to give the insurance company an idea of your overall health and determine how much of a risk you are to insure through a plan, but without that medical exam, they are taking a much great risk.

Determine how much mortgage insurance you need with our mortgage calculator if you are planning to use the benefits of a life policy for the purpose of repaying your mortgage.

If you plan to take GetDefensive.com's defensive driving online class for insurance reduction purposes, we recommend that you check with your Justice of the Peace Precinct 2 Travis insurance agent first.

However, if you need life insurance for such things as estate purposes, inheritance taxes, business reasons, or to set up a trust or donate to a charity, then you might be better advised to look at some other form of permanent insurance plan such as whole life or a universal life insurance policy.

Our quoting engine displays a range of policy maximums simply for the purpose of comparing various insurance plans that fall within that range.