Sentences with phrase «upon the death of the insured without»
This means that in many cases the full amount of death benefit will be paid upon the death of the insured without a waiting period.
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If an estate is larger and therefore vulnerable to federal or state estate tax exposure, an irrevocable trust may be used to provide liquidity for the estate without being subject to estate taxes by owning the policy and being designated as the beneficiary upon the death of the insured.
The endowment without profit policies are also known as term insurance plans offer the nominee the sum assured only, upon death of the insured.
If an estate is larger and therefore vulnerable to federal or state estate tax exposure, an irrevocable trust may be used to provide liquidity for the estate without being subject to estate taxes by owning the policy and being designated as the beneficiary upon the death of the insured.