0
The key difference between a life insurance policy and an annuity is their purpose: life insurance provides a death benefit to beneficiaries upon the policyholder's death, while an annuity provides a stream of income during the policyholder's lifetime or for a specified period.
What else can I help you with?
Periodic payments for an insurance policy?
annuity
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.
Is a flexible premium multifunded life insurance an annuity?
Its a Universal life insurance Policy.
What is the payout structure for an annuity life insurance policy?
The payout structure for an annuity life insurance policy involves regular payments made to the policyholder either for a set period or for the rest of their life, providing financial security and income.
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.
Periodic payments for an insurance policy?
annuity
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.
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.
What is the payout structure for an annuity life insurance policy?
The payout structure for an annuity life insurance policy involves regular payments made to the policyholder either for a set period or for the rest of their life, providing financial security and income.
how much tax will I pay from an insurance policy and annuity from a diseased parent?
Life insurance proceeds are usually tax-free.
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.
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.
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.
Why should everyone have annuity insurance?
Annuity insurance is a policy which one would have and would withdraw on. They are popular with persons who still would like a steady income after retirement. One could invest and yet still receive funds to live on.
What insurance company should I purchase an annuity variable from?
The best way, in my opinion to consider what insurance company to purchase an annuity variable from, is to find a policy that best suits me. Does it offer death benefits? Is it tax-free? And am I at the appropriate age to get an annuity variable without being taxed. You also want to consider whether you want short or long term annuity.
