Sentences with phrase «value of an insurance policy on»

In some states, such as Florida, a person declaring bankruptcy can only protect the cash value of an insurance policy on the individual's own life.

Not exact matches

You will receive tax receipts based on the present value of a paid - up policy or equal to the insurance premiums you pay for the policy.

The cash value of a universal life insurance policy accumulates based on the amount of premium paid, monthly deductions for policy costs and an interest rate that is declared by the insurance company.

Many types of permanent life insurance policies increase in value over time based on interest rates.

In later life stages, permanent life insurance may offer, depending on the type of policy, the opportunity to accumulate cash value on a tax - deferred accrual basis, money that can be used for diverse needs.

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).

The government is forcing one set of values on everyone rather than letting different insurance companies and self - insurers make their own policies to meet the needs and desires of their customers and employees.

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.

The amount you receive depends on the type of policy, the policy's cash value and the end date of the insurance, if any.

In line with our core values, Effective Coverage works to educate renters on the availability and convenience of New York Renters Insurance, as well as the benefits of the policy.

Generally there is a small deductible on New Jersey renters insurance, and from that deductible on, your personal property is covered at replacement cost rather than actual cash value, up to the limits of the policy you've selected.

On the other hand, if your company decides to sell the key person life insurance policy, you may have to pay taxes, depending on the size of the settlement, cash value of the policy, and the amount that's been paid in premiumOn the other hand, if your company decides to sell the key person life insurance policy, you may have to pay taxes, depending on the size of the settlement, cash value of the policy, and the amount that's been paid in premiumon the size of the settlement, cash value of the policy, and the amount that's been paid in premiums.

One of the key benefits of the permanent life insurance policy, is that the cash value grows tax deferred and withdrawals are taken out on a First In — First Out (FIFO) basis.

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

Your insurance expert can discuss both endorsements and separate policies based on the value of the items.

Indexed universal life insurance offers greater control over the performance of your policy's cash value growth, since you're not relying on a figure determined by the insurer and their performance.

In some cases, cash value insurance, specifically whole life insurance, features a minimum rate of return guarantee on funds held in a policy's cash account, which is one of many whole life insurance pros and cons.

You will NOT have to pay tax on the surrender value of your policy nor reverse Section 80C benefits, if: You have paid your insurance policy premiums for at least 2 years after buying the policy.

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.

Additional insurance protection that can be purchased to help cover the loss of jewelry, watches and furs with values that exceed the personal property limit on a homeowners insurance policy.

This option not only allows two individuals to be insured on the same whole life insurance policy, but it also typically has a lower amount of overall premium cost than will purchasing two separate life insurance policies of corresponding value.

But it's also important to think about how insurance changes based on personal events — new drivers or changes to a family auto policy can alter car insurance premiums, and other kinds of insurance can be affected by changing property values or even changes in the local business world.

Depending on the level of coverage you'd like, you can purchase a condo insurance policy in Florida for either the actual cash value or replacement cost of your dwelling and property.

Whereas whole life insurance provides fixed rates of return on the account value, at rates determined by the insurance company, variable life insurance provides the policyholder with investment discretion over the account value portion of the policy.

When you make premium payments on a cash - value life insurance policy, one portion of the payment is allotted to the policy's death benefit (based on your age, health and other underwriting factors).

These high cash value life insurance policies are an asset and can be used as tools for acquiring even more assets, through strategic private banking, where you focus on the velocity of money.

The inner - workings of cash value life insurance consists of a life insurance policy, which is a contract between the policy owner, the insured (often the same person), and the insurer, where the insurer agrees to pay a death benefit to the policy's beneficiary, based on the owner continuing to make the policy's premium payments.

Because Effective Coverage is focused on the needs of tenants, your New Hampshire renters insurance policy will be the best combination of value and coverage that meets your needs.

CFA's Rate of Return (ROR) service estimates «true» investment returns on any cash value life insurance policy — whole life, universal life (fixed or indexed) or variable universal life (cash values in mutual - fund - like accounts).

As a participant, the policy holder in a mutual life insurance company receives «dividends» on the cash value which is not income but rather a return of premiums.

Please give us a call today for policy illustrations from many of these excellent cash value life insurance companies and long - term care insurance providers and receive a free strategy session to see which company and policy is right for you — based on your unique needs, goals and objectives.

This distinction refers to whether policy loans will negatively impact the dividend rate that is being paid on the policy cash value, and of course, taking policy loans are a major aspect of insurance policy growth in the infinite banking world.

• Earnings potential The issuing insurance company may guarantee a minimum growth rate on the cash value of the policy in some cases.

Your mortgage lender and your co-op or condo by - laws will likely require that you have your own insurance on top of the master policy because your ability to repair your apartment after a disaster protects the value of the unit.

If you're thinking of buying a cash value life insurance policy, ask your agent or company for a sales illustration, which is a computer projection of future premiums, cash values and death benefits based on the current dividend scale (whole life) or current interest rates and current costs of insurance (universal life).

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.

«Say you buy a permanent life insurance policy on a child for [a face value of] $ 50,000,» said Kevin M. Lynch, an assistant professor of insurance at The American College of Financial Services, giving a hypothetical example of how such a provision would work.

If you have replacement value insurance on your home for more than it's worth, some companies will give you the amount of your policy.

Still, if a cash value life insurance policy is being used, then tax advantaged cash value accumulation is being realized regardless of the interest on the loans.

It also suggests that when the redemption price of life insurance nears the life settlement value of a policy, careful consideration needs to be given to determine whether the additional tax burden of selling on the life settlement market justifies the transaction.

Note: Variable life insurance policy values are not guaranteed, will fluctuate based on performance of the underlying investments, and may be worth more or less than the premiums paid.

Whether or not the cash value investment aspect or loan aspect of a whole life insurance policy is important depends on spending habits, investment goals, and lifestyle decisions.

The cash value held in a life insurance policy is determined by subtracting the cost of insurance and other charges levied by the insurance company from the total amount of premiums paid plus any interest or capital appreciation earned on the cash value.

By shopping around, you can see the value of placing multiple drivers on a single auto policy, or combining your car and home insurance policies.

In many of these cases, a term life insurance policy is often the most inexpensive choice and the full face value of the policy pays out on the policy holder's death.

Contact Effective Coverage today at [phone] for a free review of your current renters insurance coverage or an instant quote on a new policy that provides both coverage and value!

The actual cash value in a homeowners insurance policy is based on the market value or the initial cost of your home and personal property with depreciation considered.

When looking for the lowest cost policy or ensuring you have the best value on the policy you already hold, it's a good idea to understand the factors that go into the cost of your umbrella insurance premium.

Gap Insurance: If you're involved in an accident, your collision policy will typically only cover the cost of your car up to its actual cash value, which may be less than what you owe on a loan or lease.

That agreed value, whether on personal articles policies or renters insurance jewelry riders, is based on an appraisal or, rarely, a bill of sale.