Rule Against Accumulations


Definition of "Rule against accumulations"

Joe Kasel
Joe Kasel Coldwell Banker Burnet

State laws that prohibit for an unreasonable period of time the accumulation of income under the option modes of settlement of a life insurance policy unless the beneficiary of the policy is a minor; thus, if the interest option is selected under the optional modes of settlement, the beneficiary must be a minor.

Have a question or comment? We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 

Search Real Estate Terms

 

Popular Real Estate Terms

Disqualified Person

Individual prohibited under the employee retirement income security act of 1974 (erisa) from conducting transactions with a trust plan. The prohibitio ...

Elimination Period

Form of deductible usually found in disability income insurance; for example, no benefits may be payable for a length of time beginning with the first ...

Easement

Right of one party to use land owned by another party. For example, an electric utility can obtain an easement through court action to place its power ...

Incurred Expenses

Expenses that have or may not yet have been paid by an insurance company. ...

Forfeiture Of Vested Benefits

Relinquishment of rights to benefits when an employee withdraws previous contributions to a plan. An employee who had not withdrawn these contribution ...

Proprietary Insurer

For-profit insurance company, such as a mutual or stock company or Lloyd's of London association. Proprietary insurers contrast with cooperative insur ...

Popular Real Estate FAQ

What Do I Need To Know About Motorcycle Insurance?

You need an insurance policy that is tailored in your needs in mind. Take liability for example. Guest passenger liability helps protect you bodily in ...

How Do I File An Insurance Claim?

Call your Insurance agent or Insurance Company \"Claims Hotline\" as soon as possible. Getting your agent\'s help, may speed things along. ...

What Do I Need To Know About Auto Insurance?

Choosing the auto insurance requires consideration of manyfactors- Take into account everything you own and the reasons to protect them. The year of ...

What Should I Do If I'm In An Accident?

1.- Stay Calm. Determine the injuries and or damage. 2.- Call the police. File an accident report and obtain medical assistance if needed. 3.- L ...

What Do I Need To Know About Watercraft Insurance?

You need separate coverage for the variety of risks you face when storing, launching, hauling or running your seaworthy vessel. Boats, and other water ...

What Do I Need To Know About RV Insurance?

Your motor home can be both your transportation and your home away from home. So like your auto and your home, you need to safeguard it with the prope ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

Down Payment: Everything You Wanted to Know Luxury Real Estate Forecast Furnished Rental Tips for Real Estate Investors How to Buy a House Quickly What is a Credit Score and How Does it Impact Real Estate?

FAQ

Should I Pay Extra Each Month? What do I need to know about Renters Insurance, and what does it cover? What do I need to know about Business Insurance? What does computer insurance cover that my warranty doesn't? What is hazard insurance?