Its a Universal life insurance Policy.
explain flexible premium multifunded life ins.
Nope, but you do have the option if you so choose to use it.
should the buyer of flexible premium adjustable universal life insurance take the interest monthly or quarterly or shoule they turn it over
You can surrender the policy at anytime, you may have to pay a surrender charge if you're taking it out early.
A flexible premium multi-funded life means that it is a term life insurance. Aside from that, it has a side fund that grows and which is tax deferred.
explain flexible premium multifunded life ins.
Nope, but you do have the option if you so choose to use it.
should the buyer of flexible premium adjustable universal life insurance take the interest monthly or quarterly or shoule they turn it over
Are the children the beneficiary's of the Annuity? Annuity's are like Life insurance, they have named beneficiary's listed in the contract. If the children are listed, then yes they are going to benefit from this account.
You can surrender the policy at anytime, you may have to pay a surrender charge if you're taking it out early.
Single premium immediate annuity is when one gives an insurance company an upfront payment or deposit and they straight away begin to pay you a monthly income. One can get them from a number of financial service companies.
A flexible premium multi-funded life means that it is a term life insurance. Aside from that, it has a side fund that grows and which is tax deferred.
1. annuity is paid till a person passes away whereas life insurance is paid after a person passes away to the beneficiaries 2. annuity is paid as periodic installments whereas life insurance is paid as lump-sum. 3. annuity support future income requirement. life insurance support the need of beneficiaries. 4. annuity is a retirement planning tool whereas life insurance is a product providing inheritance. 5. annuity pays back total value + gains earned. life insurance may provide benefit multiple times larger than premium paid ZEBA
Flexible Premium Adjustable Life Insurance is a policy usually called Universal Life but some companies may use different names. This type of policy is basically a term life insurance policy with an interest bearing side fund as part of the policy. The mechanics are that you can pay any premium above the minimum premium and within federal tax limits. You can change the premiums and the amount of insurance which makes it a very flexible policy. The trick is that as with term insurance the cost of insurance goes up as you age so you must pay more than the cost of insurance expecially in the beginning or the policy always has a danger of running out of money and the insurance cancelling. This type of policy looks good when interest rates are high but is very dangerous when rates drop.
Flexible Premium Adjustable Life Insurance is a policy usually called Universal Life but some companies may use different names. This type of policy is basically a term life insurance policy with an interest bearing side fund as part of the policy. The mechanics are that you can pay any premium above the minimum premium and within federal tax limits. You can change the premiums and the amount of insurance which makes it a very flexible policy. The trick is that as with term insurance the cost of insurance goes up as you age so you must pay more than the cost of insurance expecially in the beginning or the policy always has a danger of running out of money and the insurance cancelling. This type of policy looks good when interest rates are high but is very dangerous when rates drop.
Premium period
Yeah, the cost simply reimbursable through your flexible spending account. I guess that that's just reality