Death benefits - no longer just for beneficiaries
Article Abstract:
Life insurance policies no longer just benefit survivors because of accelerated death benefits for terminally and chronically ill. The Health Reform Act gave accelerated benefits the same tax treatment as death benefits under IRC section 101(g)(1), making them tax free. This is a cash payment without limits on use, unlike long term care insurance that only pays for medical costs. However, the insured or specific other payees must meet strict standards to be eligible and corporations holding insurance on the ill person are excluded.
Publication Name: Journal of the American Society of CLU & ChFC
Subject: Law
ISSN: 1052-2875
Year: 1997
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A picture is worth...
Article Abstract:
A pictorial description of the advantages of life insurance, particularly focusing on federal income tax benefits, can be useful for client presentations. A visual aid helps clients understand interest and dividend features, expenses, double and triple duty dollar concepts, living and death proceeds, and generally provides a full overview of the policy. The pictorial description can help clients understand valuable contract rights, optional benefits, and tax benefits of policies.
Publication Name: Journal of the American Society of CLU & ChFC
Subject: Law
ISSN: 1052-2875
Year: 1996
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Crash value life insurance
Article Abstract:
Permanent life insurance provides policy holders with many benefits which they cannot derive from term life insurance or from investment in the stock market. Permanent life insurance is a comparatively stable vehicle for protecting family members which is amenable to long-term tax planning, liquidity, and flexibility.
Publication Name: Journal of the American Society of CLU & ChFC
Subject: Law
ISSN: 1052-2875
Year: 1998
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