Sentences with phrase «single insurance contract»

You can also cover all participants under single insurance contract for the whole project to avoid gaps in cover.

Not exact matches

Single premium life insurance would be considered a Modified Endowment Contract.

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.

In particular, single premium whole life insurance does not meet the IRC requirements to avoid a modified endowment contract.

If you used the proceeds of a home mortgage to purchase or «carry» securities that produce tax - exempt income (municipal bonds), or to purchase single - premium (lump - sum) life insurance or annuity contracts, you can not deduct the mortgage interest.

Not only does the single premium option eliminate one of the core benefits of a universal life insurance policy — flexible payments — but you need to confirm if this policy will be a modified endowment contract.

MarketProtector Individual Modified Single Premium Deferred Fixed Annuity With Index - Linked Interest Option and Market Value Adjustment (contract form numbers FIA250, ICC17 FIA250) is issued by Jackson National Life Insurance Company ® (Home Office: Lansing, Michigan) and distributed by Jackson National Life Distributors LLC.

Elite Choice Single Premium Deferred Fixed Annuity With Index - Linked Interest (contract form number FIA400, ICC13 FIA400) is issued by Jackson National Life Insurance Company ® (Home Office: Lansing, Michigan) and distributed by Jackson National Life Distributors LLC.

Elite Choice Rewards Single Premium Deferred Fixed Annuity with Index - Linked Interest and Bonus Provision (contract form number ICC13 FIA450, FIA450) is issued by Jackson National Life Insurance Company ® (Home Office: Lansing, Michigan) and distributed by Jackson National Life Distributors LLC.

MarketProtector Advisory Individual Modified Single Premium Deferred Fixed Annuity With Index - Linked Interest Option and Market Value Adjustment (contract form numbers FIA255, ICC17 FIA255) is issued by Jackson National Life Insurance Company (Home Office: Lansing, Michigan) and distributed by Jackson National Life Distributors LLC.

Jackson AscenderPlus Select Modified Single Premium Deferred Fixed Annuity With Index - Linked Interest (contract form numbers ICC15 FIA150, FIA150) is issued by Jackson National Life Insurance Company ® (Home Office: Lansing, Michigan) and distributed by Jackson National Life Distributors LLC.

Conflicts issues are (largely) untethered from the merits yet can be outcome determinative, so it is crucial to understand and focus on choice - of - law principles in complex insurance disputes, which can yield the application of different state laws within a single case to issues of contract formation, performance, and bad faith.

Olaide Esan, Senior Legal Consultant of Hadef & Partners Abu Dhabi office clarifies some of the obligations for employers in providing medical insurance cover to families of «junior» employees employed on a «single status» contract, but who have decided to bring their spouses and children to the UAE under the employees» own sponsorship.

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.

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 single premium deferred annuity is an insurance policy that functions as a long - term savings contract.

Because life insurance was looked at almost as if it were a tax shelter, and to avoid abuse of single pay policies, Congress created what we refer to as a modified endowment contract in 1988 with the introduction of TAMRA, the Technical and Miscellaneous Revenue act of 1988.

Further, all top up premiums made during the currency of the contract, except for pension / annuity products, must have insurance cover treating them as single premium, as per the new guidelines.

In addition, there are three other variable products, called the ISP Choice Variable Life, ISP 10 Express, and the Single Premium Variable Life, all which offer variations of the Variable Universal Life line to accumulate value tied to a market, while remaining inside of a life insurance contract.

However, unlike other contracts wherein fulfilling certain obligations from both sides will generally be simultaneous, in life insurance contracts, the customer fulfils his obligations of payment of premium either immediately (single premium) or periodically (annually) with a hope and belief that the other party (insurer) will be fulfilling his part of the obligation in due course through multiple events like partial withdrawals, loans, survival or maturity benefits, surrenders or any live or death claim as per contractual obligations.

First off, every single insurance policy is a contract, and that just means it is an agreement between the policy owner, which is you, and the company, which is the insurer.

Annuities that are sold by life insurance companies are «cash based» contracts that are purchased with either a «single premium» or through a «series of premium payments».

Broker: In insurance, one who places business with more than one company and who has no exclusive contract requiring that all his or her business first be offered to a single company.

Group life insurance is a type of life insurance in which a single contract covers an entire group of people.

Our insurance portfolio includes single trip or annual accidental death and dismemberment insurance, comprehensive travel insurance plans available to all nationalities living anywhere in the world, International Accidental Death & Dismemberment insurance including optional War Risk coverage, International Life Insurance and International Disability insurance for overseas workers, and Defense Base Act Insurance for companies awarded government contracts working on foreinsurance portfolio includes single trip or annual accidental death and dismemberment insurance, comprehensive travel insurance plans available to all nationalities living anywhere in the world, International Accidental Death & Dismemberment insurance including optional War Risk coverage, International Life Insurance and International Disability insurance for overseas workers, and Defense Base Act Insurance for companies awarded government contracts working on foreinsurance, comprehensive travel insurance plans available to all nationalities living anywhere in the world, International Accidental Death & Dismemberment insurance including optional War Risk coverage, International Life Insurance and International Disability insurance for overseas workers, and Defense Base Act Insurance for companies awarded government contracts working on foreinsurance plans available to all nationalities living anywhere in the world, International Accidental Death & Dismemberment insurance including optional War Risk coverage, International Life Insurance and International Disability insurance for overseas workers, and Defense Base Act Insurance for companies awarded government contracts working on foreinsurance including optional War Risk coverage, International Life Insurance and International Disability insurance for overseas workers, and Defense Base Act Insurance for companies awarded government contracts working on foreInsurance and International Disability insurance for overseas workers, and Defense Base Act Insurance for companies awarded government contracts working on foreinsurance for overseas workers, and Defense Base Act Insurance for companies awarded government contracts working on foreInsurance for companies awarded government contracts working on foreign soil.

A life insurance contract can pass the CVAT by having a cash surrender value that will not exceed the net single premium, which will fund future benefits under the contract.

In particular, single premium whole life insurance does not meet the IRC requirements to avoid a modified endowment contract.

The con to single premium is the policy is considered a modified endowment contract and you lose some of the tax advantages of cash value life insurance.

This new product combines the best features of life insurance and long - term care into one design; it is typically sold as a universal life contract that requires a single premium and that funds an accelerated death benefit rider to pay out long - term care benefits if needed.

Group life insurance provides coverage for a number of people under a single master contract or master policy.

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«In the U.S. an annuity contract is created when an insured party, usually an individual, pays a life insurance company a single premium that will later be distributed back to the insured party over time.

While term insurance plans come with many flexibility like deciding the term of the contract, regular pay or single pay options, convertibility, etc..

Term life is a better business for the Insurance companies since according to university studies 99.3 % of term life insurance contracts expire without paying a singInsurance companies since according to university studies 99.3 % of term life insurance contracts expire without paying a singinsurance contracts expire without paying a single claim.

Such plans are a long term life insurance contract where the policyholder has to pay premium throughout the tenure of the policy or may opt for single pay or limited payment option.

Managed care definition: A system requiring that a single individual in the provider organization is responsible for arranging and approving all devices needed under the contract embraced by employers, mental health authorities, and insurance companies to ensure that individuals receive appropriate, reasonable health care services.

If you do not have out - of - network benefits, your insurance company may be willing to contract with me for a single case agreement, since the diagnosis and treatment is so specialized.