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how much tax will I pay from an insurance policy and annuity from a diseased parent?
Wiki User
∙ 14y ago
Life insurance proceeds are usually tax-free.
Wiki User
∙ 14y ago
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Periodic payments for an insurance policy?
annuity
Is a flexible premium multifunded life insurance an annuity?
Its a Universal life insurance Policy.
What is the definition of "axa variable annuity"?
The definition of AXA Variable Annuity is a life insurance policy that give the option of market appreciation. It gives you a variety of investment options with your policy.
Does auto insurance expire at death?
Yes, if the policy was in the sole name of the diseased - because the contract/policy is with the person NOT the car.
Can life insurance cash value be converted into an annuity?
The cash value can be borrowed from the insurance policy and an annuity purchased with it. Depending upon the insurer, you may be able to have the two transactions done with the same company (assuming you wish to buy an annuity product from that company). Keep in mind, however, that the cash value withdrawal is a loan that accrues interest according to the terms of the policy. Therefore, in order to make the transaction worthwhile, the annuity must throw off sufficient income to make up for the reduction of value of the insurance policy due to accruing interest on the policy loan.
How do you get insurance if a parent who has no license buys your car?
Progressive Insurance can write a policy for you and your parent, but the parent is excluded as a driver because they do not have a license.
Is the variable annuity life insurance any good?
Variable annuity is good for a person looking for long term invesment options if they are wanting to retire in the future. It is a great option for that, but it may not be the best option for a life insurance policy. However, there are some reliable variable annuity life insurance companies like Valic.
What is a partial surrender?
Partial surrenders are fairly simple. They are removal of a portion of the original cash balance of an insurance policy or annuity. You should either contact your insurance agent or the company from which you purchased your policy.
A parent dies and leaves two children as equal beneficiaries to his estate in his will. One of them is listed as a recipient of an insurance policy. Must he split the proceeds of the insurance policy?
No. The life insurance proceeds pass outside of the parent's will.
What type of insurance contract requires a lump some or periodic payment in exchange for receiving periodic payments from the insurance company?
That could be an annuity, or a permanent life insurance policy.
Can you take out a Life insurance policy on a parent?
Yes, you can take out a life insurance policy on a parent. There must exist insurable interest between the owner and insured of a life insurance policy. There does exist insurable interest between spouses, parents and children, and siblings. So, yes, you can buy life insurance on your parent. Your parent may need to sign the application, answer some health questions, or take a medical exam to qualify for life insurance.
Is a variable annuity or a fixed annuity a good investent tool?
They are both good invesment instruments when used for the right purposes. Both are insurance policy contracts with distinctive features and differences.
