Life Insurance

An absolute assignment on a life insurance policy transfers the policy's ownership rights to another party. Reasons for making an absolute assignment include financing a charitable gift and c...

http://finance.zacks.com/absolute-assignment-life-insurance-policies-6460.html

Generally, accrued interest from a life insurance payout is subject to federal income tax. You can choose to receive a lump-sum insurance payout or installment payments over a certain number ...

http://finance.zacks.com/accrued-interest-life-insurance-payout-subject-federal-income-tax-9632.html

When you decide to cash out your life insurance policy, you may be able to profit from an expanded cash surrender value. However, if you do make money when cashing in a life insurance policy,...

http://finance.zacks.com/calculate-taxable-income-cashing-out-life-insurance-predeath-1513.html

The term collateral assignment refers to a company or organization that has been designated as the beneficiary within a life insurance policy. This term has significant implications in many l...

http://finance.zacks.com/collateral-assignment-life-insurance-policy-5962.html

A fixed annuity grows on a tax-deferred basis until maturity. At that point, you can take the money out in a lump sum. You can also annuitize, which turns your money into a pension-style inco...

http://finance.zacks.com/fixed-annuity-matures-9178.html

Supplemental term life insurance can provide much needed benefits for beneficiaries in the event of an unexpected death. Understanding how to find the perfect insurance policy that matches yo...

http://finance.zacks.com/supplemental-term-life-insurance-3933.html

The difference between whole life and universal life insurance may be subtle, but it's important to know all the ins and outs before taking out a policy. In many cases, you may find that term...

http://finance.zacks.com/difference-between-universal-life-whole-life-insurance-7610.html

Typically your beneficiaries will receive a life insurance payout anywhere from 30 to 60 days after the claim was submitted. You can also set up your policy so beneficiaries receive their dea...

http://finance.zacks.com/payment-made-beneficiaries-life-insurance-policy-7352.html

Before canceling a whole life insurance policy, talk with your insurance representative about alternatives. You'll also want to take into consideration the cash value of the policy, as well a...

http://finance.zacks.com/cancelling-whole-life-insurance-7171.html

While you may want to share a life insurance policy in which you are named beneficiary with a sibling, you aren't legally obligated to do so. This is true even if you are both listed in the w...

http://finance.zacks.com/can-sister-make-share-life-insurance-proceeds-am-beneficiary-8204.html

In insurance, the practice of risk pooling is where insurance companies join together to evenly spread out financial risk among contributors. This essential concept helps prevent the situatio...

http://finance.zacks.com/risk-pooling-insurance-1890.html

Consumers have many choices when it comes to life insurance. One of those options is indexed life insurance, which earns cash value on a tax-deferred basis and gives policyholders control. Ho...

http://finance.zacks.com/pros-cons-flexible-premium-adjustable-life-insurance-indexed-features-6355.html

The net surrender cash value is the amount you'll receive if you cancel a permanent life insurance policy. On the other hand, the term guaranteed cash value refers to policies that have a minimum...

http://finance.zacks.com/guaranteed-cash-value-vs-net-cash-value-life-insurance-1486.html

Death benefits do not count as taxable income so your beneficiary gets the payout tax-free. But if you own the policy, the value is included in your estate for estate taxes. Gifting the life ...

http://finance.zacks.com/tax-consequences-changing-beneficiaries-life-insurance-policy-11541.html

Exploring taxes on a life insurance policy can help you better understand what your beneficiaries may owe the government following your passing. Fortunately, life insurance policies often pro...

http://finance.zacks.com/pay-income-tax-life-insurance-payouts-2830.html

Typically, beneficiaries do not have to pay income tax on life insurance death benefits when they are received as a lump sum. However, some insurance companies usually offer beneficiaries a c...

http://finance.zacks.com/life-insurance-death-benefits-taxed-2326.html

Permanent life insurance policies may offer cash value on top of the death benefit. Cash value is money that you can take out and spend while you are alive. Depending on your insurance compan...

http://finance.zacks.com/life-insurance-contract-dividends-reported-taxable-income-2611.html

The price of a funeral has increased significantly since the National Funeral Directors Association began collecting statistics in 1960. Back then, the average cost of a funeral, minus the ce...

http://finance.zacks.com/assign-insurance-benefits-pay-funeral-11880.html

Irrevocable life insurance trusts, or ILITs, allow grantors to give up their "incidence of ownership” rights, enabling the death benefit from the life insurance policy to avoid estate taxes...

http://finance.zacks.com/borrowing-beneficiary-irrevocable-life-insurance-trust-11879.html

You don’t have to sign anything to become the beneficiary of a life insurance policy. The owner can list whomever he likes. Life insurance pays out in times that are typically very emotiona...

http://finance.zacks.com/heir-not-want-life-insurance-proceeds-11550.html