life insurance

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life insurance:

see insuranceinsurance
or assurance,
device for indemnifying or guaranteeing an individual against loss. Reimbursement is made from a fund to which many individuals exposed to the same risk have contributed certain specified amounts, called premiums.
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References in periodicals archive ?
Yared explains that brokers do not strongly engage in arranging unit-linked life insurance contracts that involve large investment amounts, even as some banks do offer big-ticket unit-linked insurance contracts--commonly involving single large premiums--to help wealthy customers channel part of their deposits into policies that combine a life insurance element with indexed investment components and minimum-guaranteed components.
Owners of participating life insurance contracts are entitled to dividends if the insurer has sufficient earned surplus.
A life insurance contract not classified as a modified endowment contract allows its owner to take distributions of the policy cash value with non-taxable premiums considered distributed first, followed by the taxable distribution of any gain within the contract, which is received as ordinary income by the owner.
While the suitability of a 1035 exchange will always be dictated by a client's needs, goals and circumstances, here are some scenarios in which trading in one annuity or life insurance contract for another may ultimately prove to be the best option:
Living proceeds received under life insurance contracts and endowment policies are taxed according to the same rules, whether they are single premium or periodic premium policies.
The PPA, then, allows clients to use money currently held in annuities or life insurance contracts for LTCI premiums, and on a tax-free basis.
(4) A and B could purchase life insurance contracts on each other (as with cross purchase agreements).
In addition, all policyholders of contracts issues after August 17, 2006, must attach to their tax return Form 8925, Report of Employer-Owned Life Insurance Contracts. This is an information disclosure that requires the policyholder to report insurance information, including the total number of employees the company has insured, the number of employees that were issued policies after August 17, 2006, and the total amount of insurance in force at the end of the year.
Delta Lloyd had an embedded value -- a measure of insurance companies worth which includes the present value of future earnings from long-term life insurance contracts -- of 4.1 billion euros at the end of June, Aviva said on Monday.
2009-13 (IRB 2009-21, May 26, 2009) answers this question: What income is recognized upon the surrender or sale of the life insurance contracts described in the three situations below?
Employers in New York would be authorized to procure group key person life insurance contracts under legislation that has passed in the Senate and Assembly and been sent to the Governor.
Consumer loan firms have bought group life insurance contracts for borrowers from life insurers in a bid to recover loans in the form of insurance money when borrowers die before completing repayments.

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