Typically, proceeds from life insurance policies are not taxable.
If it is a pension plan/IRA, or a business investment (a contract with a third party where you placed insurance on the third party for your benefit), proceeds even after death may be fully taxable as ordinary income.
However, if a life insurance policy, purchased in the usual matter as a personal expense, is cashed out (surrendered) and there is a lump sum payment of the surrender value, it is just like any other capital transaction. You pay tax on the difference between proceeds and the amount you invested over the years like any other capital asset with a capital gain or loss, presumably long term since there is no cash value for the first few years. You may also have ordinary income from interest or dividends which the insurance company might report on a 1099 int/div
You will receive a 1099 R that provides all the information you need - proceeds, taxable part and they go on 16a & 16b of your Form 1040. If the cash received is part of a viatical or any other type of settlement, there may be other considerations that improve the result.
Should be treated as an liability
The best way to find out is to READ THE POLICY. What does it cover?? Was it GAP insurance or regular auto ins.? Ask your ins. agent to explain the coverages.
You should never buy mortgage life insurance. It is an expensive simplified issue term policy. Just buy a regular term life insurance policy. Find an independent agency and have them run you quotes on whatever amount is your mortgage plus living expenses for your family for 5 or 10 years.
Mortgage insurance
hazard insurance is another way to say homeowners insurance - they should be referring to the same thing
it should be ignored
Why should farmers insurance ivest into my training
Color treated hair can be damaged easily. Color treated hair can break easily as well. Color treated hair should be conditioned on a regular basis.
your regular car insurance should pay, check with them. Otherwise you must buy insurance.
Rental insurance is a very wise insurance to have. This can cover loss and damage just like a regular home insurance even though you are only renting.
You can get traveler's health insurance or international medical insurance from your regular insurance company if they offer it.Depending on your current plan, it may already be included, or you may even get a discount.
It sounds like this person will be a regular driver and as such they should be listed on your insurance as a driver. In your policy you agree to list all household residents and regular drivers. They should be listed on your policy.
You just need regular homeowners insurance, nothing special is needed.
If you own your own business, you should be able to have access to a different type of insurance. This insurance covers more than regular truck insurance, and is a lot cheaper. This should allow you to get it fixed at a cheap price.
Yes!! because they are still people who happen to have a special talent.
Caravan insurance should not be much different than regular car insurance, therefore it might be optimal to possibly check local car insurance agencies. Watch out for scams, as caravan insurance can be faked easily.
Capital One Auto is insurance for your vehicle and for you, the driver. If you do not drive or don't have a car, then Capital one Auto is not for you. I cannot tell you if you need to use this company, I can say, however, that you should compare with some other car insurance companies to see which one best meets your needs.