Interest Option
Use of a life insurance policy dividend by the owner of a participating policy. Here the policy dividend is left with the insurance company to accumulate at a guaranteed minimum interest rate. Also, an interest option is a choice a beneficiary can make by leaving death proceeds with the insurance company to accumulate at interest. Interest earned under either option is subject to federal and state income taxes.
Popular Insurance Terms
Charging the insured an amount that is above the actual premium required for placing and maintaining the policy in force. ...
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Plan established by the employer that permits the employee to defer pretax earnings into a specifically designated account. From this account, the employee may withdraw funds to pay ...
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