Marital Trust
Trust that qualifies assets under the marital deduction provision in the Federal Tax Code for favorable treatment of an estate. The surviving spouse has the full power to use the assets of the trust as well as to transfer assets to any heirs. Upon the death of the surviving spouse, any assets in the trust are subject to federal estate tax.
Popular Insurance Terms
Premiums paid with funds that are not borrowed from life insurance. It is important to ascertain the finance charges and the costs/benefits of such a transaction. ...
Discharge of electricity from the atmosphere, one of the perils covered in most fire insurance policies. ...
Earliest age at which an employee can retire without a penalty reduction in pension benefits after having reached a minimum age and served a minimum number of years with an employer. ...
For loss of an obligee in the event that the principal fails to perform according to standards agreed upon between the obligee and the principal. ...
Arguments composed of assumption of risk, contributory negligence, and fellow servant rule. ...
Type of mutual insurance company that requires a substantial initial premium payment. After the initial premium payment is made, future premium payments required will be paid from the ...
Written statement by an insurance company attesting to the powers it has vested in an agent. ...
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Person other than the annuitant as designated by the policyholder on whose life expectancy the annuity payment is also based. ...
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