0
No,, You get paid "Fair Market Value", which is often the same as Cash value.
Wiki User
∙ 16y ago
Add your answer:
Earn +20 pts
When your auto is declared a total loss do you get the tax and license you paid back as well as the actual cash value of the vehicle?
Not likely, no
What does the term medical factoring refer to?
The term medical factoring refers to a strategic business option as a remedy to cash flow issues. Cash is paid more quickly but is paid for with a slight loss in the total receivables collected over the long term.
If your car is declared a total loss how much will the insurance company pay back to you if the car was purchased below book value?
Regardless of what you paid for the vehicle, in most cases,if your vehicle is deemed a total loss, you will be paid the local market value of your vehicle. If you happened to purchase your vehicle for less than that, you lucked out:)
What if your car is totaled?
Get a new car. == If someone hit your car you will be paid the actual cash value of the car. If you totaled the car and had collision coverage you will be paid actual cash value, too.
Do you have to pay taxes on life insurance?
Life insurance death benefits are paid out tax-free as long as your premiums were paid with after-tax money. If you have a cash value life insurance policy and surrender the policy, you may be subject to a taxable gain if the total cash value exceeds the cost basis of the policy.
What happens to my paidup additional life insurance if I cash in my policy?
The paid up life would have it's extra cash value too, so if you cashed it in for the cash value, there would be no more paid up life either.
Paid up cash surrender value of life ins policy?
What about it?
Are losses on the excess of premiums paid over the amount of the total cash value amount of a whole life insurance policy deductible for income tax purposes?
No.
How much is a fully paid up policy worth?
It is worth whatever the net surrender cash value is, which is cash value minus the surrender charge.
Whole Life Policies--Are Dividends used toincrease insurance amount taxable?
You are talking about Paid up additions. No they are not. Proceeds in cash value are not taxable as long as the cash value does not exceed the amount of premiums paid.
Is insurance cash value paid to insured taxable?
are paid up insurance proceeds paid to the living person insured taxable
Who sells gap insurance?
GAP insurance is designed to cover the difference between what you owe on a financed (or leased) vehicle and the actual cash value that is paid by an insurer if the car is a total loss. Generally, GAP coverage is available through the car dealer or the finance company that finances the car.yes
