Sentences with phrase «under every life insurance policy contract»

Because life insurance products and companies differ, not all riders and endorsements presented here are offered under every life insurance policy contract or offered by every insurer.

Because life insurance products and companies differ, not all riders and endorsements presented here are offered under every life insurance policy contract or offered by every insurer.

Not exact matches

Under current federal tax rules, you generally may take federal income tax - free withdrawals up to your basis (total premiums paid) in the policy or loans from a life insurance policy that is not a Modified Endowment Contract (MEC).

For a permanent life insurance policy to qualify for tax advantages under the I.R.S. Code, the policy must be a life insurance contract NOT be a modified endowment contract («MEC»).

This term also refers to the settlement of a life insurance policy under the contract's annuity options.

1 Under current federal tax rules, you generally may take income - tax - free partial withdrawals under a life insurance policy that is not a Modified Endowment Contract (MEC) up to your basis in the contUnder current federal tax rules, you generally may take income - tax - free partial withdrawals under a life insurance policy that is not a Modified Endowment Contract (MEC) up to your basis in the contunder a life insurance policy that is not a Modified Endowment Contract (MEC) up to your basis in the cContract (MEC) up to your basis in the contractcontract.

This term also refers to the settlement of a life insurance policy under the contract's annuity options.

If the insured, the person covered under the life insurance contract, is diagnosed with a significant medical condition that is determined to be terminal by a physician, the policy owner can apply for accelerated death benefits up to certain limits established by the insurance company.

When it comes to premium payments, there is another convenient option sometimes offered under Variable Life contracts - a policy with a fixed premium, which justifies the feature of flexibility attributed to Variable Life Insurance.

Under a Life Insurance Contract in India, the insurer assures to pay a definite sum to the policyholder's family on his demise during the policy term.

-- The term «reportable death benefits» means amounts paid by reason of the death of the insured under a life insurance contract that has been transferred in a reportable policy sale.».

The statements made above assume the policy remains in force, it isn't a modified endowment contract and the policy qualifies as life insurance under Internal Revenue Code, Section 7702.

The Term Policy document is the contract under which your life's risk is undertaken by the Life Insurance complife's risk is undertaken by the Life Insurance compLife Insurance company.

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.

Individuals who are insured under a life insurance policy, a pension or other annuity product that carries a death benefit enter into a contract with a life insurance carrier at the time of application.

As long as the policy is not a Modified Endowment Contract (MEC), or subject to a «force - out» for overfunding under IRC Section 7702B — which can be confirmed with the insurance company — withdrawals from a universal life policy are treated as a basis - first return of principal and are not taxable (until all basis has been recovered).

Notably, when it comes to life insurance, the cost basis — or investment in the contract under the rules of IRC Section 72 (e)(6)-- is equal to the total premiums paid for the policy, reduced by any prior principal distributions (which could include prior withdrawals, or the previous receive of non-taxable dividends from a participating life insurance policy).

2 Under current federal tax rules, you generally may take income - tax - free partial withdrawals under a life insurance policy that is not a Modified Endowment Contract (MEC) up to your basis in the contUnder current federal tax rules, you generally may take income - tax - free partial withdrawals under a life insurance policy that is not a Modified Endowment Contract (MEC) up to your basis in the contunder a life insurance policy that is not a Modified Endowment Contract (MEC) up to your basis in the cContract (MEC) up to your basis in the contractcontract.

For a permanent life insurance policy to qualify for tax advantages under the I.R.S. Code, the policy must be a life insurance contract NOT be a modified endowment contract («MEC»).

Under current federal tax rules, you generally may take federal income tax - free withdrawals up to your basis (total premiums paid) in the policy or loans from a life insurance policy that is not a Modified Endowment Contract (MEC).

For example, life insurance is a contract between the Insurance Company and the policyholder in which the Life Insurance Company agrees to pay a certain amount of money if the policyholder fulfils all his obligations under the pollife insurance is a contract between the Insurance Company and the policyholder in which the Life Insurance Company agrees to pay a certain amount of money if the policyholder fulfils all his obligations under thinsurance is a contract between the Insurance Company and the policyholder in which the Life Insurance Company agrees to pay a certain amount of money if the policyholder fulfils all his obligations under thInsurance Company and the policyholder in which the Life Insurance Company agrees to pay a certain amount of money if the policyholder fulfils all his obligations under the polLife Insurance Company agrees to pay a certain amount of money if the policyholder fulfils all his obligations under thInsurance Company agrees to pay a certain amount of money if the policyholder fulfils all his obligations under the policy.

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

A Term plan with Return of Premium is a contract between the applicant and the Life Insurance Company, under which the applicant agrees to pay a certain amount of money (Premium) per year for a fixed period in order to receive a guaranteed amount of money (Sum assured) in the event of his death during the policy term, payable to his nominee (any family member).

Life insurance policy is a legal contract between the insurance company and the person insured.There is a consideration which needs to be paid for coming into a contract under the Indian Contrcontract between the insurance company and the person insured.There is a consideration which needs to be paid for coming into a contract under the Indian Contrcontract under the Indian ContractContract Act.

The Chasm Group, LLC and Chasm Institute, LLC (San Bruno, CA) 1997 — 2008 Business Operations Manager • Managed all daily operational tasks for leading multi-million dollar high - tech market strategy consultancy, while providing executive administration to C - level executives and venture capital partners • Developed and managed the firm's annual budget, proposing and implementing expense cuts, producing monthly reports and financial statements, and coordinating with CPA firm for accurate and timely filings • Oversaw all client relationship management efforts while cultivating new business efforts from concept to implementation, providing high - quality service in sales efforts while utilizing new lead tracking system • Negotiated and managed all contracts, stock grants, and financing arrangements, working closely with outside counsel to draft legal documents and resolve LLC - and proprietary - related issues • Led three office space build - outs and two office relocations, managing all aspects of each process under aggressive timeline and budget expectations • Reduced firm telecom expenses by 22 % by streamlining IT objectives, including migration to VOIP phone system, software / hardware purchases, domain renewals, and outsourced technical support • Directed all phases of staff recruitment while creating and implementing all HR policies and programs, including comprehensive employee benefits plans • Supervised multiple administrative staff members, conducted performance appraisals and wage / salary surveys in comparison to incentive program guidelines, and maintained HR files in accordance with legal mandates • Produced all out - going client invoices in an accurate and timely fashion to increase, cash flow and reduce aging receivables, providing consistent attention to overhead costs and vendor arrangements • Administered all company insurance policies, including E&O, general liability, bonds, partner life and disability, conducting annual benefits reviews and employee / company insurance audits • Obtained necessary certificates for consulting contracts while processing federal, state, and local business reporting requirements to maintain licenses and incorporation status • Directed all marketing efforts and oversaw logistical aspects of national educational workshop series, utilizing sponsorship arrangements to offset production costs • Transformed «brochure» website into a dynamic tool to better illustrate company opportunities through relevant case studies, as well as maintaining all other promotional media, including press kits and video Association of California School Administrators (Burlingame, CA) 1993 — 1997 Issues and Planning Committee Coordinator • Executed all phases of event planning and implementation for a membership - driven organization including 23 state committees, 5 task forces, 6 strategic planning conferences, and a conference of 1,500 attendees • Focused on facility evaluations, bid requests, site visits, contract negotiations, and all pre - and post-conference planning processes • Produced statistical and financial reports, including budget projections and cost monitoring for developmental training efforts • Oversaw all participant - level responsibilities, including inquiries, eligibility, registration, correspondence, and billing statements • Managed all legal professional standards calls for Northern California regions, including the processing of attorney authorizations, the preparation of legal assistance letters, and liens on cause of action • Served as second point of contact for computer inquiries and troubleshooting efforts as well as provided back - up executive administrative support for Executive Director, Committee Chairs, and the State Superintendent of Public Instruction • Held responsibility for software installation and hardware configuration while performing weekly AS / 400 backup and report generation