Sentences with phrase «surrender value of your life insurance policy»

You can take a loan against the surrender value of your life insurance policy.

However, the cash surrender value of your life insurance policy is something that you are not currently using which means that whatever happens you still have your other assets at work.

The cash surrender value of a life insurance policy is property for purposes of section 3670 of the Internal Revenue Code of 1939 (now section 6321 of the current Internal Revenue Code of 1986, as amended), imposing the Federal tax lien.

You can find out the exact cash surrender value of your life insurance policy by asking your financial advisor.

Furthermore, for the surrender value of a life insurance policy, there are certain conditions which, if fulfilled, will result in tax relief.

The best way to determine the cash surrender value of a life insurance policy is to talk to the local insurance agent or call the insurance company direct.

Income tax provisions do not stipulate any separate tax treatment for surrender value of a life insurance policy.

Not exact matches

A life insurance policy's cash value is essentially the amount of money you would receive if you decided to give up the policy to the insurer, or surrender your coverage.

Your life insurance net cash value is the «actual» surrender value of the policy, and you will typically find it listed separately in your life insurance statements.

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).

These policies all generally have a cash value component, which is essentially the surrender value of the policy (if you give it up before its maturity or your death), and is the primary reason permanent life insurance policies are more expensive than term policies.

A life insurance policy's cash value is essentially the amount of money you would receive if you decided to give up the policy to the insurer, or surrender your coverage.

Your life insurance net cash value is the «actual» surrender value of the policy, and you will typically find it listed separately in your life insurance statements.

A surrender charge is a hold back amount that an insurer charges against the cash values of a life insurance policy for the first 8 to 10 years, if funds are withdrawn early.

The benefit of combining the two insurances into one policy is you get life insurance death benefit coverage, help with your long - term care services, cash value growth that can be accessed via policy loans, with full cash surrender value plus return of premium if necessary.

You can take out a loan on a life insurance policy's cash surrender value if you're in need of immediate funds.

All types of permanent cash value policies typically have a specified cash surrender period that must lapse before you can completely withdraw the cash value in the policy without paying penalties to the life insurance company.

Cash value life insurance, whether whole life, IUL, or VUL, allows for the tax - free growth of funds in a policy's cash account unless the policy is canceled or surrendered, transferred or assigned to another owner, or the IRS no longer designates the policy a life insurance contract.

These policies all generally have a cash value component, which is essentially the surrender value of the policy (if you give it up before its maturity or your death), and is the primary reason permanent life insurance policies are more expensive than term policies.

From a strategic standpoint, the popularity of cash value life insurance stems from its ability to both provide insurance protection and grow funds on a tax - deferred basis — interest and earnings in policies of this type are not taxable unless a triggering event occurs, such as surrendering the policy.

The maturity clause of a life insurance policy is fairly complicated, but this basically means that the value you would be able to keep by surrendering the policy becomes larger than the total death benefit.

The right of a judgment debtor to accelerate payment of part or all of the death benefit or special surrender value under a life insurance policy, as authorized by paragraph one of subsection (a) of one thousand one hundred thirteen of the insurance law [* see below], or to enter into a viatical settlement pursuant to the provisions of article seventy - eight of the insurance law, is exempt from application to the satisfaction of a money judgment.

The term «proceeds and avails», in reference to policies of life insurance, includes death benefits, accelerated payments of the death benefit or accelerated payment of a special surrender value, cash surrender and loan values, premiums waived, and dividends, whether used in reduction of premiums or in whatever manner used or applied, except where the debtor has, after issuance of the policy, elected to receive the dividends in cash.

If a policy of insurance has been or shall be effected by any person on his own life or upon the life of another person, the policyowner shall be entitled to any accelerated payments of the death benefit or accelerated payment of a special surrender value permitted under such policy as against the creditors, personal representatives, trustees in bankruptcy and receivers in state and federal courts of the policyowner.

If a policy with no cash surrender value is sold (for example a term life insurance contract), the policy premiums would have largely covered just the cost of insurance, so that the proceeds received from the sale of the policy would all be capital gains.

In this situation, consider having your children own the life insurance policy, because, if the parent (s) become institutionalized, the cash value of this policy will be includable in their assets and may have to be withdrawn, or the policy surrendered in order to pay for long - term care expenses.

The cash value of a life insurance policy accumulates tax deferred, but if you surrender the policy, you'll incur an income tax liability for funds that exceed the premiums you have paid.

Rather than surrender your life insurance policy for the cash surrender value, there is a market available that allows you to sell your life insurance policy for cash, for potentially greater amounts of money than had you chosen to surrender the policy to the life insurance company.

On the other hand, many owners of permanent life insurance policies can't afford them, and end up surrendering the policy (and the cash value) prematurely.

A Life Settlement is the sale of a life insurance policy to a third party for a value in excess of the cash surrender value, but less than the death benLife Settlement is the sale of a life insurance policy to a third party for a value in excess of the cash surrender value, but less than the death benlife insurance policy to a third party for a value in excess of the cash surrender value, but less than the death benefit

By definition, the paid up value of a life insurance policy is the value an owner receives from the insurer upon default or surrender or early termination of the policy before its maturity or the insured's death.

Surrender value of Aegon Life Term Plan and IndiaFirst Guaranteed Retirement is the amount of money that will be provided by the insurance company in case you want to surrender the policy before Surrender value of Aegon Life Term Plan and IndiaFirst Guaranteed Retirement is the amount of money that will be provided by the insurance company in case you want to surrender the policy before surrender the policy before maturity.

One can compare benefits of both policies based on aspects like availability of loan, surrender value, tax benefits, death benefits, etc. for DHFL Pramerica Future Idols Gold Plus and Exide Life Secured Income Insurance RP.

Surrender value of ICICI Pru Group Gratuity and TATA AIA Group Term Life is the amount of money that will be provided by the insurance company in case you want to surrender the policy before Surrender value of ICICI Pru Group Gratuity and TATA AIA Group Term Life is the amount of money that will be provided by the insurance company in case you want to surrender the policy before surrender the policy before maturity.

Surrender value of Exide Life New Creating Plus and E T Total Secure Plus is the amount of money that will be provided by the insurance company in case you want to surrender the policy before Surrender value of Exide Life New Creating Plus and E T Total Secure Plus is the amount of money that will be provided by the insurance company in case you want to surrender the policy before surrender the policy before maturity.

One can compare benefits of both policies based on aspects like availability of loan, surrender value, tax benefits, death benefits, etc. for Aviva iLife Secure and Aegon Life Guaranteed Growth Insurance Plan.

Surrender value of Smart Swadhan Plus and Edelweiss Tokio Life Protection is the amount of money that will be provided by the insurance company in case you want to surrender the policy before Surrender value of Smart Swadhan Plus and Edelweiss Tokio Life Protection is the amount of money that will be provided by the insurance company in case you want to surrender the policy before surrender the policy before maturity.

One can compare benefits of both policies based on aspects like availability of loan, surrender value, tax benefits, death benefits, etc. for Reliance Pension Builder and Shriram Group Term Life Insurance.

Surrender value of BSLI Protector Plus and Aegon Life Future Protect Plus is the amount of money that will be provided by the insurance company in case you want to surrender the policy before Surrender value of BSLI Protector Plus and Aegon Life Future Protect Plus is the amount of money that will be provided by the insurance company in case you want to surrender the policy before surrender the policy before maturity.

One can compare benefits of both policies based on aspects like availability of loan, surrender value, tax benefits, death benefits, etc. for Kotak Wealth Insurance and SBI Life Smart Scholar.

Surrender value of iSecure and Max Life Fast Track Super is the amount of money that will be provided by the insurance company in case you want to surrender the policy before Surrender value of iSecure and Max Life Fast Track Super is the amount of money that will be provided by the insurance company in case you want to surrender the policy before surrender the policy before maturity.

Surrender value of Canara HSBC eSmart and My Life Plus is the amount of money that will be provided by the insurance company in case you want to surrender the policy before Surrender value of Canara HSBC eSmart and My Life Plus is the amount of money that will be provided by the insurance company in case you want to surrender the policy before surrender the policy before maturity.

Surrender value of Aviva Corporate Life Plus and DHFL Pramerica U Protect is the amount of money that will be provided by the insurance company in case you want to surrender the policy before Surrender value of Aviva Corporate Life Plus and DHFL Pramerica U Protect is the amount of money that will be provided by the insurance company in case you want to surrender the policy before surrender the policy before maturity.

Surrender value of IndiaFirst Money Balance Plan and Aegon Life iIncome is the amount of money that will be provided by the insurance company in case you want to surrender the policy before Surrender value of IndiaFirst Money Balance Plan and Aegon Life iIncome is the amount of money that will be provided by the insurance company in case you want to surrender the policy before surrender the policy before maturity.

Surrender value of IndiaFirst Group Credit Life Plan and My Life Plus is the amount of money that will be provided by the insurance company in case you want to surrender the policy before Surrender value of IndiaFirst Group Credit Life Plan and My Life Plus is the amount of money that will be provided by the insurance company in case you want to surrender the policy before surrender the policy before maturity.

Surrender value of Bajaj Allianz Group Term Care and Edelweiss Tokio Life Protection is the amount of money that will be provided by the insurance company in case you want to surrender the policy before Surrender value of Bajaj Allianz Group Term Care and Edelweiss Tokio Life Protection is the amount of money that will be provided by the insurance company in case you want to surrender the policy before surrender the policy before maturity.

Surrender value of Max Life Platinum Wealth and Wealth Accumulation is the amount of money that will be provided by the insurance company in case you want to surrender the policy before Surrender value of Max Life Platinum Wealth and Wealth Accumulation is the amount of money that will be provided by the insurance company in case you want to surrender the policy before surrender the policy before maturity.

Surrender value of Max Life Guaranteed Income and IndiaFirst Cash Back Plan is the amount of money that will be provided by the insurance company in case you want to surrender the policy before Surrender value of Max Life Guaranteed Income and IndiaFirst Cash Back Plan is the amount of money that will be provided by the insurance company in case you want to surrender the policy before surrender the policy before maturity.

Surrender value of Basic Life Cover and Metlife 100 is the amount of money that will be provided by the insurance company in case you want to surrender the policy before Surrender value of Basic Life Cover and Metlife 100 is the amount of money that will be provided by the insurance company in case you want to surrender the policy before surrender the policy before maturity.

Surrender value of DHFL Group Credit Life Plus and Star Union D I Group Retirement is the amount of money that will be provided by the insurance company in case you want to surrender the policy before Surrender value of DHFL Group Credit Life Plus and Star Union D I Group Retirement is the amount of money that will be provided by the insurance company in case you want to surrender the policy before surrender the policy before maturity.