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 ?

Life insurance contracts historically have been used to fund incidental death benefits for 403(b) plans, and while the proposed regulations would not prohibit continuing this practice, they do bar life policies from being used as annuities for 403(b) purposes.

IRS moves on 403(b) plans concern AALU and ACLI

The balance at a parent level was computed by adding up the combined values of individual life insurance contracts and pension insurance contracts, according to their financial results for the April-September first half of fiscal 2000.

Balance of life insurance contracts of 10 insurers fall 2.8%+

9) Life insurance contracts qualifying under the guideline premium test must also satisfy the cash value corridor test, which specifies a minimum ratio of death benefits to cash surrender value.

Tax treatment of living benefits under life insurance policies

The reform could have some positive effects in the longer term, as life insurance contracts would no longer be included in the taxable estate under France's wealth tax, which could make them more attractive to high-net-worth individuals.

Fitch: Stable Outlook for French Non-Life Insurance on Pricing

Owners of participating life insurance contracts are entitled to dividends if the insurer has sufficient earned surplus.

15 legal issues every life insurance policy should address

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.

How to determine when variable life and annuity products make sense for a client: a careful matching of client objectives and risk tolerance, along with an understanding of how the product works, may result in a variable product that is suitable and sound for your client

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:

Is it 1035 time? sometimes, exchanging an outdated annuity or life insurance policy for another can be a step up for your clients

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.

Part I: Life insurance

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.

What every LTCI agent needs to know about the Pension Protection Act: bill's tax advantages began taking effect earlier this year--what's it mean for clients?

4) A and B could purchase life insurance contracts on each other (as with cross purchase agreements).

"Wait and see" buy/sell agreement

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.