Special Planning Strategies and Considerations
COPY OF Split Dollar Insurance Plans Nov 6, 2009
Let's say you want to reward a few key executives with low-cost life insurance. Can you do so without providing the same benefit to your other employees? You can with a split dollar life insurance plan. In fact, such an arrangement can provide your business with several benefits. It can help you attract and retain employees, reward key executives, and fund severance packages and certain other benefit plans.
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Split Dollar Insurance Plans Sep 8, 2008
Let's say you want to reward a few key executives with low-cost life insurance. Can you do so without providing the same benefit to your other employees? You can with a split dollar life insurance plan. In fact, such an arrangement can provide your business with several benefits. It can help you attract and retain employees, reward key executives, and fund severance packages and certain other benefit plans.
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Tax Planning Tips; Life Insurance Sep 8, 2008
Understanding the importance of life insurance is one thing. Understanding the tax rules is quite another. As insurance products have evolved and become more sophisticated, the line separating insurance vehicles from investment vehicles has grown blurry. To differentiate between the two, a mix of complex rules and exceptions now governs the taxation of insurance products. If you have neither the time nor the inclination to decipher the IRS regulations, here are some life insurance tax tips and background information to help you make sense of it all.
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Viatical Settlements Sep 8, 2008
A viatical settlement is the sale of a life insurance policy by an individual who is terminally ill. The individual sells the policy to a third party (often a viatical settlement funding company) that pays the individual a lump-sum cash payment that is a percentage of the face value of the policy, usually 40 to 85 percent. Terminally ill individuals may wish to sell their life insurance policies in order to use the money in advance of their death rather than leave it directly to a beneficiary. For instance, you may want to sell your life insurance policy in order to have money to pay for living expenses, to pay for medical care, or to experience the joy of using or giving away the money before you die.
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Accidental Death and Dismemberment Insurance Sep 5, 2008
Accidental death and dismemberment insurance (AD & D) is inexpensive life insurance coverage that pays a benefit if you die as a result of an accident. It also pays you a predetermined benefit if you lose, by accidental severance, two hands or two feet, or one hand and one foot, or if you permanently lose sight in both eyes. A partial benefit may be paid for loss of one hand or one foot.
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Cash Value Life Insurance Sep 5, 2008
Cash value, or permanent, life insurance is life insurance that is designed to be kept until your death--whenever that may be. Part of your premium pays for the "pure" insurance coverage and expenses, and the balance is held by the insurance company in a cash value account.
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