Tax Benefits Of Life Insurance
Definition of "Tax benefits of life insurance"
Tax advantages of investing in life insurance fall into two main areas: tax deferral on untaxed buildup of earnings in such cash value policies as whole life insurance and annuities, and exclusion from federal income tax of the proceeds of a death benefit of an insurance policy.
Popular Insurance Terms
Means of supplementing an executive's retirement benefits by deferring a portion of his or her current earnings. Deferring income in this manner encourages the loyalty of executives. To ...
Tax advantages of investing in life insurance fall into two main areas: tax deferral on untaxed buildup of earnings in such cash value policies as whole life insurance and annuities, and ...
Provision in corporate life insurance policies that allows coverage to be transferred to a new individual with proof of insurability, for a premium appropriate to the age of the new ...
Provision under the Internal Revenue Code, Chapter 13, that specifies a transfer tax of 55% of the gift to a person at least two generations younger than the transferor (person who gives ...
Statistical projection of future illness, sickness, and disease. ...
Amount of insurance remaining on a ceding company's books, net of the amount reinsured. ...
Standard Commercial Property Floater form covering death or damage to livestock as the result of insured perils such as fire, lightning, explosion, smoke, wind, hail, aircraft, earth quake, ...
Rules stating that, for any portion of the payment made to the employee from an eligible rollover distribution, the plan administrator is required by federal law to withhold 20% of the ...
Coverage in the event that property is damaged or destroyed so that an insured cannot use the property for its intended purpose. For example, loss of use of a drill press because of ...
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