Anything you pull out above and beyond your base, is taxable. Base is the money you have put into it, your premiums that you paid.
Since you paid it with after tax $$$ any money you receive would not be taxable, UNTIL it's more than what you paid into it. In that case, it might be better to take loans.
If you take a loan against the policy, the amount you receive is not considered taxable. However, if you later surrender (cash-in) the policy, the amount you received in the loan and in the surrender will then be considered taxable income.
Typically it is called "Net Cash Surrender Value". This is the amount of cash value in the policy accumulation account minus any outstanding loans etc. But it is typically referred to as "Net surrender Value" or "Net Cash Surrender Value". Get a good agent and he can explain.
Once the company receives your signed surrender form it should take 7 to 10 business days to receive a check.
That depends on whether or not you wish to continue having the life insurance in force at the insured's death. If you wish to have the life insurance in force at death, then it is best to borrow some of the cash value. If you surrender the policy, then you receive all the remaining cash value (less any surrender charges), but the death benefit is no longer there. Also the cash value received MAY be taxable.
Since you paid it with after tax $$$ any money you receive would not be taxable, UNTIL it's more than what you paid into it. In that case, it might be better to take loans.
If you take a loan against the policy, the amount you receive is not considered taxable. However, if you later surrender (cash-in) the policy, the amount you received in the loan and in the surrender will then be considered taxable income.
Typically it is called "Net Cash Surrender Value". This is the amount of cash value in the policy accumulation account minus any outstanding loans etc. But it is typically referred to as "Net surrender Value" or "Net Cash Surrender Value". Get a good agent and he can explain.
You will receive the cash value minus the surrender charges, not the face value of the policy.
No, AB is a universal recipient, and can only be given to other people with type AB blood. O is a universal donor but can only receive O, A can only receive A and can only be given to A and AB, and B can only receive B and be given to B and AB.
Call the J.Hancock customer service line @ 1-800-387-2747 press "0" for customer service.
Because people with AB blood can receive blood from any donor, regardless of their blood type.
Once the company receives your signed surrender form it should take 7 to 10 business days to receive a check.
Yes because universal donors have o blood.
That depends on whether or not you wish to continue having the life insurance in force at the insured's death. If you wish to have the life insurance in force at death, then it is best to borrow some of the cash value. If you surrender the policy, then you receive all the remaining cash value (less any surrender charges), but the death benefit is no longer there. Also the cash value received MAY be taxable.
Yes, type O blood is considered universal because they can donate to all other blood types. It is also the most common blood type. They only can receive blood from another type O person.
He receieved this message to surrender to the Will of Almighty Allah when he was at the age of 40 years, and was meditating in the Cave of Hira.