Sentences with phrase «when life insurance policy owners»

The time may come when life insurance policy owners want to rid themselves of the policies they own.

When life insurance policy owners no longer want, need, or can afford to continue to pay policy premiums, they traditionally have surrendered their policies to the issuer for their cash surrender value.

Not exact matches

If you are the owner of your own life insurance policy, it will become part of your taxable estate when you die.

In the 1980's when interest rates started rising many dividend paying whole life insurance policy owners saw increasing interest rates that did not reflect lower policy dividends.

Homeowners» Insurance: Required for all mortgage loans, protects the home from damage and theft Owner's Title Insurance: Optional policy ensuring the title will not be subject to a claim of ownership, lien or other encumbrance Private Mortgage Insurance (PMI): Required by most lenders when the down payment is less than 20 % Federal Housing Administration (FHA) Mortgage Insurance Premium: Required on all FHA loans Mortgage Life Insurance: Optional policy that protects family and estate by paying off the loan in case of death Disability Insurance: Optional policy that guarantees loan payments will be made in case of disability

When coupled with a life insurance policy, the hybrid LTCi owner will also have the advantage of passing dollars on to family on an income tax - free basis if the policy was never accessed for long term care coverage.

Prior to 2008, Western District of New York courts held that when a husband and a wife both file bankruptcy and one spouse has a life insurance policy with cash value and the other spouse as the beneficiary, the bankruptcy trustee, as trustee for both the owner and beneficiary of the policy, could claim in the cash value.

If you choose your spouse to be the owner and beneficiary of your life insurance policy, the proceeds of the policy will be subject to estate taxes and perhaps probate administration when he or she eventually dies.

Acknowledgement of the transfer - of - ownership and release of the escrowed funds — when the transfer of the policy's ownership is completed and recorded by the insurance company, the insurer sends confirmation to the client and the life settlement provider (the new policy owner).

When the transaction is complete, the buyer — or life settlement provider — becomes the new owner of the life insurance policy, pays future premiums and collects the death benefit when the insured dWhen the transaction is complete, the buyer — or life settlement provider — becomes the new owner of the life insurance policy, pays future premiums and collects the death benefit when the insured dwhen the insured dies.

Because life insurance policies are paid with after - tax dollars, the life insurance proceeds are not taxable when received by beneficiaries of business owners or employees.

When you start researching term life insurance for your working spouse, know that he or she will still be the owner of the policy.

If you are the owner of your own life insurance policy, it will become part of your taxable estate when you die.

The buyer (the viatical settlement provider) becomes the new owner of the life insurance policy, pays future premiums, and collects the death benefit when the insured dies.

Simply put, a buy / sell agreement is when each business owner purchases a life insurance policy on each of the other owners.

Therefore, when considering the purchase of a life insurance policy, it is important to keep in mind that the policy will constitute a legal contract between the insurer and policy owner.

Many states now require life insurance carriers to notify policy owners about life settlement options when they are about to lapse a policy.

As a policy owner, you do have some exit strategies when it comes to your life insurance policy — the underlying asset of life settlements.

When a life insurance policy is purchased through a life settlement, the new owner — an institutional investor — becomes the beneficiary, but they also assume all premium payments.

When your child automatically becomes the policy owner at age 21, your child will gain the valuable whole life insurance protection as well as the accumulated cash value.

Generally, when using a key man life insurance policy to secure a loan, a collateral assignment is utilized to ensure the bank or lending institution receives funds to cover the loan balance due in the event the key person or business owner dies.

Change of the death benefit type, for owners of universal life insurance policies, can also be made that will either include or exclude in the proceeds any accumulated cash value when the insured person dies.

Life settlements offer an additional option for life insurance policy owners to consider when deciding what to do with a policy they no longer want to Life settlements offer an additional option for life insurance policy owners to consider when deciding what to do with a policy they no longer want to life insurance policy owners to consider when deciding what to do with a policy they no longer want to own.

With regards to term life insurance, Worcester, MA fathers, mothers, husbands, wives, business owners and anyone else who is shopping for insurance, will sometimes ask when the best time is to buy a policy.

Unlike an owner of a life insurance policy, designated beneficiaries do not have to have an insured interest in an insured when identified in the contract or upon the death of the insured.

The owner of a life insurance policy has an insurable interest in the insured when the policy owner is likely to benefit if the insured continues to live and is likely to suffer some loss or detriment if the insured dies.

Cash value: In a life insurance policy, the amount available to the owner when a policy is surrendered to the company.

When you buy an insurance plan for your child, you become the policy owner, while your child's life gets assured.

The period of time beginning when a life insurance policy is delivered to the policy owner, and ending after the prescribed amount of time defined by law and / or company guidelines, during which the policy holder has the right to return a life insurance policy for a full refund of all monies submitted for payment to the insurance company.

While term life insurance is the least expensive policy to own when viewed through the spectrum of total cost of insurance, term life insurance provides the lowest expected rate of return for a policy owner, almost zero.

The insurance policy which governs the building in which you live when you are a Condo owner.

When applying for a small business loan through a bank or the governmental SBA (Small Business Administration) program, some small business owners are surprised to learn that one of the requirements is having a life insurance policy with a collateral assignment to the lender.

Every year when the life insurance company calculates it's profits it returns a portion of those profits as dividends to whole life insurance policy owners.

Term life insurance does not have a cash value and when it expires, it expires without any value to the policy owner.

When a life insurance policy becomes too expensive to maintain due to premium increases, the owner can be faced with some difficult decisions.

Like all life insurance policies, guaranteed issue life insurance pays out to beneficiaries when the policy owner dies.

Not technically a kind of business insurance, life insurance does warrant a mention when discussing insurance policies for small business owners.

Share Tweet Pin +1 A life insurance settlement occurs when the owner of a life insurance policy sells the policy to a third party for cash.

Disability Income Rider: When buying a life insurance policy, a disability income rider can be an excellent addition for a policy owner.

When the policy owner dies, the life insurance beneficiary has options on how he or she receives the death benefit payout.

When purchasing key person life insurance, the policy's beneficiary, owner, and payer should always be the business, just like a Buy - Sell Agreement.

When a charity is named in a life insurance policy as the beneficiary, the policy owner pays the premiums.

Term Life Advice is owner - operated, so while Banner Life Insurance is one of the best in the industry, we have nearly unlimited options when it comes to finding you the best rate and policy.

Universal life insurance also includes the ability to alter the face value of the policy at a later date, to give the policy owner power over how the premiums are invested, and to even give you some flexibility in when and how much your premiums will be.

Life insurance death benefits are generally tax - free — except when three different people play the roles of policy owner, the insured and the beneficiary.

The untimely death of an owner, partner, or key person in a business when there is no business life insurance such as a buy / sell insurance policy or key man insurance in place can be the beginning of quick end.

A life insurance policy in which most of the expense charges occur when the policy owner or contract owner surrenders the policy or makes cash withdrawals from the policy.